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Business psychology - Key factors, Analysis and Advantages

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Business Psychology

Part A

Enclosed in poster

PART B

Selected goal

The goal I have selected is research on business psychology. This is related to the study and activities of raising the working life. This will combine the understanding science of human behaviour, with the experience of the work. This is done to achieve sustainable performance and effectiveness in the work for the organization as well as for an individual. Business and psychology, 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 me the freedom to attract more customers (Pavlović and Stojnov, 2015).

This will also help in increasing the performance of staff and will give me 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.

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Specific elements used in selecting the goal

The goal is selected because of building or making improvements in the business and achieving the goals set by the organization. Business psychology is like an applied science, which will help in investigating how to make the 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, the study of the workplace and the organization. This will employ a variety of methods which are very helpful in doing research and investigating and identifying the best practices which will be helpful for the organization. Some of the key elements of business psychology will include :

  1. Credibility is all about 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 have more influence on others (Puri and Robinson, 2013.).
  3. Effective communication 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 very 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.

A- Achievable select an 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- Relevant the idea should be related to the business and its environment. The idea should be very robust.

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

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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 whether will it be helpful in achieving the objective set by the organization or not (Gebhardt, 2016). The goal theory is directed towards the behaviour of an individual. The behaviour of the person will decide the outcomes of the goal selected. Goal outcomes can be of two types, whether will be based on mastery or else it will be based on performance.

The mastery of the goal means that one can have enough knowledge and skills which will be very helpful in achieving 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 based on 5 main components and they are;

  1. Clarity The aim of the goal should be very clear and the ideas which will be used in achieving the goal will be easily understandable.
  2. Challenges Before setting the goal, one should have the knowledge of all the challenges, he will be facing while getting that goal.
  3. Commitment The person has to be dedicated and committed towards the aim and he should give more than 100% in achieving that goal (Kaufman, 2014.)
  4. Feedback after some time is necessary to get feedback from 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 a few steps which will be helpful in developing a very successful coaching plan

These are the questions, which will help the coach establish the coaching plan. After this plan, there are some questions which I need to ask 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 whether the goal is accurate or not.

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

The second most important thing is the effectiveness of this goal. Whether this goal is improving my performance or not (Barnicle, Barnes and Lee, 2014). And in the near future how this will help me make better decisions on selecting the goal. And how this will help me in improving my performance.

References

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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