Did you know there is an underlying psychology to doing business whether it is business to business or working as an employee? There are success strategies which have been developed by business psychologists in order to strategically place a business or an employee in a successful position. Business psychologists will work with employers on leadership skills, strategy, tactics, quality of their personnel, teamwork, innovation and financial performance. And, believe it or not, having fun in the workplace is also an important aspect of developing a business environment which lends itself to success.
Today, business is no longer localized but has been taken worldwide. Any large-scale enterprise requires a systemic understanding of both their employees and their consumer. The performance of any business organization depends upon the performance of their individual employees and whether or not the customers needs and expectations are being met.
As technology improves and expands so does the consumer’s needs and expectations for a particular business. In the last part of the 20th century there have been changes in the psychologist’s understanding of human nature as a relates to work performance. Factors, such as communication, leadership skills and satisfaction, are important to enhance the overall performance of a particular business as well as of a particular employee.
Therefore, business psychology is really the psychology of employees and consumers. It is the responsibility of the organization to maintain the correct balance between consumer demands, employee demands and production.
The first part of balancing the list of skills from the first paragraph, which included leadership skills, teamwork, innovation and financial performance, is understanding the psychology of the employee. Any business is operated by a number of employees whether they work on site or our virtual employees. Some of them are part of higher management and may even be considered partners in the business. Three key factors in maintaining satisfied employees is understanding communication, leadership and satisfaction.
It is the responsibility of the management of any organization to maintain clear communication with their employees. These communications can be centered around the mission and vision of the company as well as current business tactics and strategies which involve particular departments or keep paying employees up-to-date with new clients and concerns.
Developing leadership skills in an employee is important because team leaders in the organization are required to motivate others and the more team leaders who can motivate the more likely the company is to succeed. Leadership however is not becoming the boss but rather exhibiting skills which enable those who work in the same department to perform at their best. Leadership is closely related to motivation.
In order to maintain employee numbers, and not lose employees through attrition, it is important to also maintain satisfaction. Companies attempt to address employee satisfaction through large pay packages or incentives addressing material satisfaction in terms of salary and bonuses. They may also attempt to address social satisfaction with respect to office surroundings and social functions.
However, it is important to remember that although financial security and personal safety are important to maintain a high level of employee satisfaction, individuals require a connection and contacts with their upper management that improves their own social status, reputation and self-esteem. Bosses and companies who are able to lead their employees into better business will have employees who are more highly satisfied then those bosses who are pushing their employees.
From the perspective of the consumer the psychology of better business is shaped by innovation, branding and performance. For the most part, consumers are curious and want to buy new products and services. Innovation tends to be a direct result of consumer necessity and novelty. When a company is able to brand their products and link with a specific social status they have a step up on their competition. Women prefer to spend thousands of dollars on Gucci or similar simply because of the designer name and not because the products may be better or worse. Coffee drinkers tend to frequent Starbucks, even though blind taste tests have proven that McDonald’s has better tasting coffee.
True business psychology has two distinct branches. One branch deals specifically with employee interests and the other with consumer interests. On occasion views overlap but truly successful businesses address the needs of each separately and distinctly. In the areas of advertising, marketing, business organization, objectives and the development of mission and vision the psychology of working with both the employee is and the consumers must be brought to bear in order to most fully developed a successful business strategy that will ride out any recession and grow by leaps and bounds during strong economic upturn.