Business psychology - Key factors, Analysis and Advantages

Answer :

Business Psychology

Part A

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Selected goal

The goal I have selected is the research on business psychology. This is related to the study and activities of rising the working life. This will be combing the understanding science of human behavior, with the experience of the work. This is done to achieve the sustainable performance and effectiveness in the work for the organization as well as for an individual. Business and psychology, these are the two main words which are the foundation of the success of entrepreneurship. This goal is very important for me, as it will give the freedom to attract more number of customers (Pavlović and Stojnov, 2015).

This will also help in increasing the performance of staff and will give some skills useful in motivating my team. By mastering the business psychology, one can achieve the goals set by him or by the organization. Psychology is a key factor which will have various impacts on business, and it is the keystone which will be helpful in client acquisition, in negotiating the contract, the growth and the expansion of business and much more.

Specific elements used in selecting the goal

The goal is selected because of building or making improvements in the business and achieve the goals set by the organization. Business psychology is like an applied science, which will help in investigating on how to make organization more effective. This will be using different scientific research methods (Hassall, Boduszek and Dhingra, 2015). These methods will be helpful in the study of people, study of the workplace and the organization. This will employ a variety of methods which are very helpful in doing research and investigate and identify the best practices which will be helpful for the organization. Some of the key elements of business psychology will include :

  1. Credibility it is all about the trust. The more you can earn and the more experience and expertise you can gain, the more credible ideas you will develop.
  2. Understanding This will be having all the employees and the decision makers. You have to analyze the understanding technique so that your decision will be having more influence to others (Puri and Robinson, 2013.).
  3. Effective communicationThis is also very important. The communication must be very clear and specific. It helps in identifying your specific goals.

All these elements will make the idea vert smart. The term smart means

S- Specific this means the goal of the idea should be very specific, and clear to the point.

M- Measurable this means the goal of the idea should be very specific, and clear to the point.

S- Specific this suggest that, the idea which is selected by the person should have some meaning and it should make some sense while discussing

A- Achievable select a idea such that it seems realistic. I have selected the idea of business psychology, and it is very much

achievable by an individual or by the whole organization.

R- Relevantthe idea should be related to the business and its environment. Idea should be very robust.

T- Times The idea and its aim should be bound to the time, in which it should be achieved.

Goal setting theory

The goal setting theory is used so that I can analyze the performance of my aim. Whether its performance is good or bad and will it be helpful in achieving the objective set by the organization or not (Gebhardt, 2016). The goal theory is directed towards the behavior of an individual. The behavior of the person will decide the outcomes of the goal selected. Goal outcomes can be of two types, whether it will be based on the mastery or else it will be based on the performance.

The mastery of the goal means that one can have enough knowledge and enough skills which will be very helpful in achieving the success (Kowalski and Rojon, 2014). Another thing is the performance criteria. This will be helpful in judging the performance of the selected goal. This theory is basically base on 5 main components and they are;

  1. ClarityThe aim of the goal should be very clear and the ideas which will be used in achieving the goal will be easily understandable.
  2. ChallengesBefore setting the goal, one should have the knowledge of all the challenges, he will be facing while getting that goal.
  3. CommitmentThe person have to be dedicated and committed towards the aim and he should give more than 100% in getting that goal (Kaufman, 2014.)
  4. Feedbackafter sometime, it is necessary to get the feedback for the people. This will be very helpful in identifying whether the strategy is on the right track or not
  5. Task complexityThis will be the last thing to know about the complex nature of the task. The aim selected by the person is complex or not and according to that the effective goal strategy will be planned

Coaching plan

Coaching plan will help in reaching the goals set by the individual. There are few steps which will be helpful in developing a very successful coaching plan

These are the question, which will be helpful in coaching establishing the coaching plan. After this plan, there are some of the question which I need to ask to myself. They are:

Question 1: Will this goal set by me is correct?

This is the most important question, which will be helpful in getting to know that whether the goal is accurate or not.

Question 2: How this goal will help me in future?

Second most important thing is the effectiveness of this goal. If this goal is improving my performance or not (Barnicle, Barnes and Lee, 2014). And in near future how this will help me in making better decision on selecting the goal. And how this will help me in improving my performance.


Books and Journals

  • Pavlović, J. and Stojnov, D., 2015. Personal Construct Coaching. The Wiley Handbook of Personal Construct Psychology. pp.320-330.
  • Hassall, J., Boduszek, D. and Dhingra, K., 2015. Psychopathic traits of business and psychology students and their relationship to academic success. Personality and Individual Differences. 82. pp.227-231.
  • Puri, M. and Robinson, D.T., 2013. The economic psychology of entrepreneurship and family business. Journal of Economics & Management Strategy. 22(2). pp.423-444
  • Gebhardt, J.A., 2016. Quagmires for clinical psychology and executive coaching? Ethical considerations and practice challenges. American Psychologist. 71(3). p.216
  • Kowalski, T. and Rojon, C., 2014. Industrial–Organizational Psychologists in Business Schools: Insights From a UK Perspective. Industrial and Organizational Psychology. 7(03). pp.370-377.
  • Kaufman, J.C., 2014. 1 Looking at creativity through a business–psychology–education (BPE) lens. Creativity Research: An Inter-Disciplinary and Multi-Disciplinary Research Handbook
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