Psychology of the Mind: Applying Psychological Principles in Business

This report delves into the psychology of the mind, exploring the influence of cognitive biases and logical fallacies on human decision-making. It examines how individuals, including those in leadership positions, are affected by these factors and how they can be managed. The report discusses the impact of these psychological principles on consumer behavior and organizational strategies, providing insights into how understanding these concepts is essential for effective leadership and decision-making within a DBA program and the broader business world. The author also discusses the practical applications of psychological principles, such as understanding consumer behavior, and how they can be used to make informed decisions, avoid mistakes, and improve interactions with clients. The report emphasizes the importance of self-awareness and the ability to analyze the behaviors of professionals in various fields.

Running head; psychology of the mind 1
Institution
Student’s name
Supervisor’s name

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Psychology of the Mind
In life, we all think we are perfect until we meet a contradictory factor that puts our
thoughts into doubt. What is not clear to this date is what causes our human minds being self-
fulfilling or rather favor some actions or ideas over others. This fact is still a psychology mystery
that requires further study. However, there is a way this bias factor of our brains can be
controlled and managed. Considering these are subconscious thoughts and actions that tend to
come out without necessarily having a reasonable driving factor compelling them, it's hard first
to notice themselves doing (Hewstone, Jonas, & Stroebe, 2015).
Some of these thoughts have been discussed by various psychologists such as (McRaney,
2012) heuristic, logical fallacies and cognitive biases. Heuristic are the thoughts that make us
conclude fast to problems we perceive to know the answers to and end up making uninformed
decisions. The hastiness in making such decisions leads to a high probability of doing things
incorrectly. Cognitive biases on the other hand are human tendencies which make us reach
incorrect conclusions. This fact applies whereby one tends to favor one thought over the other,
either unknowingly or knowingly, leading to biasness. Logical fallacies are the wishful thoughts
that make us assume important arguments in our mind and end up making wrong decisions
(Bennett, 2017).
A Doctor of Business Administration program is a leadership-oriented program that
prepares individuals for senior positions in the business world. It requires adequate knowledge in
dealing with psychological dilemmas and understanding of human thoughts and the basis on
which humans form some of their thoughts.

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Applications in the DBA Program.
The knowledge learnt helps me in the DBA program by finding ways to appropriately
deal with diversified groups of people in the various positions of organizational leadership
assumed. This promotes my peaceful coexistence with my fellow colleagues in the DBA
program. It entails enabling students to study how different professionals should conduct
themselves around their lines of duty (Riggio, 2017).
I could apply this psychology learnt in the business world to understand consumer
behavior and patterns in the market enabling me in future as an organizational leader to make
informed decisions when executing organizational strategies. Thus, the understanding of reason
behind every thought made is important both individually and at a leader’s viewpoint. This idea
enables good decision making by me in the program aids in avoiding self-inflicting mistakes.
I will also be able to gain a specialized insight in the practical use of psychology at
organizational levels, and their industrial applications to enable me to make a comprehensive
analysis of the behavior’s fellow professionals portray. This response should also develop my
abilities to sample out the appropriate approaches to make when dealing with business’ clients.
This enables the me to acquire an in-depth view that is required for success within the DBA
program.

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References
Bennett, B. (2017). Logically Fallacious : The Ultimate Collection Of Over 300 Logical Fallacies (Academic
Edition). Ebookit.Com.
Hewstone, M. E., Jonas, K., & Stroebe, W. (2015). An introduction to social psychology. Chichester : The
British Psychological Society : John Wiley.
McRaney, D. (2012). You are Not So Smart: Why You Have Too Many Friends on Facebook, why Your
Memory is Mostly Fiction, and 46 Other Ways You're Deluding Yourself. New York: Gotham
books.
Riggio, R. E. (2017). Introduction to Industrial/Organizational Psychology. New York : Routledge.