Business Psychology
Subject: Management | Topics:

What is Business Psychology ?

By Business we mean the part of social life whose function is to provide the society with the commodities they need. This takes place with the exchange of money.

Business psychology is the systematic study of the state of mind of the people at work so that several business and industrial problems can be solved and the relation with the workers and customers are improved.

Applications of Psychology in Business:

  1. Recruitment and selection of personnel .
  2. Marketing
  3. Ethical questions
  4. Supervisory tasks
  5. Management
  6.  Union
  7. Labor Management relationship
  8. Mental Health of the employees
  9. Group working
  10. Social situations

Importance of Business psychology

1.   Selection of proper men at proper place.

2.  Proper distribution of work according to ability and attitude.

3.  minimizing the wastage of human power due to fatigue , illness and accidents

4.  promoting labor welfare

5. improvement in human relations

6.Improvement in industrial relations.

7.maximum production

Reasons why Psychological Principles are not applied in Bangladesh

  1. Absence of professional manager.
  2. lack of modern attitudes of the management
  3. abundant supply of employee.
  4. Psychologists are laboratory oriented and class oriented .
  5. Lack of idea about the psychologist in our business
  6. appointment of Psychologists is expensive

 Psychology focuses on the Followings

  1. Behavior
  2. Perception
  3. A whole person
  4. Motivated Behavior
  5. Desire for involvement
  6. The value of a person
  7. Attitudes
  8. Personality
  9. Morale.
  10. Safety
  11. Training

Difference between the Management and Labor

1) Economic Aspect

2) Ego, intelligence level

3) Different perception of different people

4) Increase of  production _ this can be benefit both if they agree on it . But in realty it can not be found since each gain at the expense of the other .

5) Unemployment creates psychological changes for an employee in a negative direction. The unemployed man becomes emotionally un stable, loses his/her sense of value , self confidence and acquires habit of loafing and killing time and destroyed his /her spirit.


Related Management Paper:

Popular Management Paper:

Basic Concepts of TQM

Total Quality Management (TQM) is an enhancement to the traditional way of doing business. It is a proven technique to guarantee survival in world‑class competition. Only by changing the actions of management will the culture and actions of an entire organization be transformed. TQM is for the .....

Assignment on Conflict Management With real life Example

What is Conflict? We define conflict as a disagreement through which the parties involved perceive a threat to their needs, interests or concerns. It’s human nature to have conflicts and it arises for any number of reasons, including: Misunderstandings Personality clashes Disagreements about th.....

Recruitment and Selection Process in Nestle Bangladesh Ltd.

INTRODUCTION 1.1: Background of the Report An employee might more knowledgeable and skilful by training and development program or process that maintaining an effective level job performance. So it acts an important role in HR department. As a part of BBA program, our Human Resources practices in.....

Report on Janata Bank Limited

1.1 Introduction of the Study The primary purpose of this report is to get an idea about the operations of Janata Bank Limited, a second-generation bank of the country and make an industry analysis on the banking sector of Bangladesh. Banks are profit – earning concern. The ‘word “Bank.....

Contemporary Issues of Cost and Management Accounting in Bangladesh

Abstract Cost and Management Accounting practice helps an organization to survive in the competitive, ever-changing world, because it provides an important competitive advantage for an organization that guides managerial action, motivates behaviors, supports and creates the cultural values necess.....