SCARCITY VERSUS ABUNDANCE MENTALITY
Stephen Covey initially coined these terms in his best-selling book, The 7 Habits of Highly Effective People.
Scarcity mentality refers to people seeing life as a finite pie, so that if one person takes a big piece, that leaves less for everyone else. Most people, particularly in the corporate world, have been conditioned to have a scarcity mentality. It’s no wonder when promotions and raises are scarce, resources are limited, managers hoard information, micromanagement abounds, and generally, short-term thinking is the norm.
A scarcity mentality is what keeps many of us from achieving our goals. An abundance mindset refers to the paradigm that there is plenty out there for everybody.