Clinical psychology, forensic psychology, educational psychology, and so on are all areas of study in psychology. The fields of industrial and organisational psychology and business psychology are likely to pique your interest if you’re interested in applying psychology to the business sector. We’ve highlighted some of the significant differences between the two, as well as degree programme options in I/O and Business Psychology.
The study of the workplace is known as industrial and organisational psychology, or I/O psychology.
I/O psychology, according to the American Psychological Association, uses concepts from decision theory, small group theory, and criteria theory to real-world workplace circumstances. Employee engagement, organisational culture, retention, productivity, morale, and team building are all studied in this discipline.
Individual employees, groups, management teams, and consultants can collaborate with industrial and organisational psychologists to improve workplace procedures. I/O psychology is “a standardised skillset” that comprises personnel selection, workplace training, company development, human resources, and consultancy, according to Dr. Jeremy Nicholson, a TCSPP professor of behavioural economics.
While I/O psychology focuses on more particular and personal workplace issues like engagement and morale, business psychology applies psychological principles to broader broad-based issues.
Corporate strategy, stakeholder interactions, market performance, and broader business operations are among these topics. Assessment and intervention skills are used by professionals who are familiar with the junction of psychology and business to examine high-level issues and make recommendations to a corporate leadership team.
Consultants, programme directors, and organisational development specialists are all examples of business psychology careers. Firm psychologists frequently work with senior management teams, business owners, and board members.
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