Using Behavioral Science to Drive Business #IIMA#NSE

Behavioral science overcomes work challenges and invariably leads to the organization's future growth for a variety of reasons. Despite the development of numerous theories in management research, the behavioural sciences method is unparalleled and unrivalled because it focuses on the study of human behavior, which is the most critical single factor-responsible for management success/failure. The behavioural sciences method to management is superior because it influences group dynamics, motivation, communication, and leadership. Many jobs in businesses intersect and overlap with behavioural science. It is amazing because it implies that behavioural science is becoming more relevant to everyone, regardless of role. Leaders and managers are increasingly recognising the importance of employing behavioural science tools and practises to help them succeed in their roles. Behavioural Science is gaining traction across businesses and sectors as a result of recent management operations and blended management models. The reach is no longer restricted to a single industry or sector. Beginning with OB and HR, the breadth and reach of Marketing and Branding has greatly expanded. Businesses in the new economy and service industry are quickly taking up as Behavioural Science is a combination of insights from psychology, economics, and neuroscience. Incorporating the principles of Behavioural Science into business activities makes sense. Over the last decade, there has been a surge in both study and effective application of behavioural science. Behavioral science labs established in management institutes such as IIM-Ahmedabad are working closely with corporates on multiple projects to gain inputs ranging from talent acquisition, improving employee engagement, encouraging changes in consumer behavior, defining and determining effective ways of interaction between co-workers and clients, or generating improved commercial returns for outdoor advertising. Analyzing investor behaviour in exchanges and measuring service standards in the gig economy is incredible. Behavioral Science can influence people's behaviour in a way that is effective, efficient, and ethical, allowing businesses to accomplish their goals and positively impact their bottom line. Conferences like BSIM 2023, which is hosted by IIM Ahmedabad, provide a rare chance for academia and business to explore the possibilities. The level of research in the niche field is unparalleled in India, with experts from the world's leading universities contributing. This will be an occasion to remember. It will be a distinction for those whose registration has been approved to join the panel discussions between advertising, customer centricity, finance, and economics stalwarts. Social media enthusiasts are watching with bated breath for some of the novel idea's researchers will present at the JSWSPP's two-day meeting on the 4th and 5th of April.