Even as a hobby, stamp collecting is not at the forefront of public awareness. Stamp collecting has been around for nearly two centuries and is big business for some, but interest is declining. Yet for 2,000 of the world’s top collectors, stamps are an obsession.

QUESTIONS:

1. What need level(s) is/are satisfied for stamp collectors such as Maurice Hadida?
2. As an avocation, what aspects of Acquired Needs Theory explain the motivation of a top-level stamp collector?
3. Using Expectancy Theory, explain why the motivation to win the world stamp-collecting championship would be low for a new collector.
4. How might Goal-Setting Theory help a new collector achieve competitive status at the international level? Using Management Smarts 13.1, identify relevant goals for reaching that status.

SOURCE: M. Colchester, “As Stamps Lose Hold as a Hobby, These Philatelists Push the Envelope,” Wall Street Journal (Retrievable online at http://online.wsj.com/article/SB10001424052748703494404575081703712186376.html)