Why Behavioural Psychology should be integrated into Business Management

Knowledge of psychology can help students when they enter business environment.

Knowledge of psychology can help students when they enter business environment. | Photo Credit: Freepik

A manager has multiple tasks that include planning, organising, staffing, directing, coordinating, reporting and budgeting. The key is to help employees reach their highest possible productivity level and also achieve a great work-life balance. In doing so, they are also expected to ensure that the business reaches its operational and financial objectives.

With Industry 4.0, managers are expected to work with machines and humans, and understand psychology to be able to achieve their objectives. This requires the integration of Behavioural Psychology in Business Management.

How it helps

Behavioural Psychology is the study and analysis of observable behaviour, which suggests that the environment shapes human behaviour. It is a subset of the larger discipline of psychology and has a more specific focus. One study showed that 90% of the population can be classified into four basic personalities: optimistic, pessimistic, trusting, and envious. Envious. Optimists see the positive side and believe that they have the skills, knowledge and ability to ensure that good and positive things happen. Pessimists expect the worst to happen and are incurable naysayers. The Trusting always favour cooperation and collaboration and do not care who wins or loses. The Envious do not mind what is achieved as long as it results in them being better than everyone else. Each type has a role to play and understanding one’s behaviour will help identify the right person for the job, while also ensuring that the organisation has a friendly and encouraging culture.

While management students have subjects such as Organisational Behaviour and Human Resource Management in the curriculum, there is a need to integrate Behavioural Psychology into management education. This will help them understand how to change a person’s thought process, motivate them and assign critical tasks to the right person.

Individuals with a Bachelor’s in Psychology and a Master’s in Management are sought after, as there are only a few courses in an MBA programme that offer a high degree of applied orientation in Behavioural Psychology.

The writer is Director, Symbiosis Institute of Business Management (SIBM), Pune, and Dean, Faculty of Management, Symbiosis International ( Deemed University).

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Printable version | Aug 13, 2022 6:58:27 pm |