How neuroscience is reshaping the business world

How neuroscience is reshaping the business world
How neuroscience is reshaping the business world

04 May 2024 3:30 p.m.

Traditional strategies are no longer enough to guarantee success. It is in this context that Neuroscience emerges as a revolutionary tool to better understand human behavior and apply it to the business field. From how we make decisions to how we respond to marketing stimuli, neuroscience offers insight. unique window into the consumer mind, providing companies with insights unprecedented to develop more effective strategies.

In addition to its application in marketing and advertising, neuroscience also is transforming business management. Understanding how the brain works in leadership and decision-making situations helps executives improve their ability to motivate employees, foster creativity, and resolve conflict more effectively.. By integrating neuroscientific principles into organizational culture, companies can create healthier and more productive work environments, which in turn translates into better financial performance and sustainable competitive advantage.

The first point is that, Without understanding how the human brain works, it is difficult to address competencies related to observable behaviors.. 100% of these skills lie in the functioning of the brain organ and the mind. For example, as a car driver, if I do not understand the brain functions involved, I will not be able to fully master my skill. I want to emphasize the importance of this knowledge without being too harsh in my approach, explains Lucas Canga, CEO of Momentum Brain Based Consulting and teacher, researcher and consultant.

The paradigm is that knowledge about how the human brain works should not be limited only to the areas of Human Resources. Those who study neuroscience, like Canga, focus on the fact that any person, whether an executive, journalist, manager or other professional, must have a solid and efficient understanding of how the brain operates to perform effectively. It is essential that what is mentioned above is ingrained in the mind of each individual to improve their efficiency and effectiveness in their respective roles.

How companies use it today

Banco Galicia works on applying neuroscience in its decision-making processes with its collaborators, but also with its clients. Thus, they learned about the positive impact that feeling listened to, understood, included, recognized, and given clear information and certainty has on people – on the human brain.

We learned that It is key to put people at the center of everything we do. Therefore, the great competitive advantage of applying neuroscience in our processes is that it allows us to get closer to our clients, accompany them in their daily lives and empathize with their stories, becoming part of their daily lives, he comments. Flavio Dogliolo, People Manager in Galicia.

The truth is that The first layers of organizations, such as directors and managers, tend to have more pragmatic mental models. They are people who are focused on specific objectives and tangible results; Thus, this pragmatic mindset offers a valuable opportunity, as they are leaders who are action-oriented and interested in what can be measured and quantified.

Neuroscience gives us tools to measure and understand how mental processes work, which can be extremely useful for these types of leaders.. By presenting neuroscience in a pragmatic way and demonstrating how it can improve concrete results, we can capture their interest and gain their support for applying neuroscience-based approaches in their teams and organizations, says Canga.

Neuroscience and KPIs

The application of neuroscience in the definition and monitoring of key performance indicators (KPIs) represents a significant advance in business management. By better understanding how the human brain works in relation to decision making, motivation and information processing, companies can design KPIs that are more effective and aligned with the intrinsic nature of the human mind.

If we can persuade the upper echelons of companies and show them that neuroscience is something close to a key performance indicator, we could have a significant impact., maintains Canga and exemplifies: If we bring a group of 15 to 20 managers with a low level of stress and then demonstrate that their level of attention increased or their ability to control stress better, this would be extremely relevant. The ability to measure and sustain these changes is essential to show them the real value of neuroscience in the business field.

Applied neuroscience is not something anecdotal, but a discipline supported by research. There are several laboratories in universities with a focus on business, such as CEMA in Argentina, ESE Business School in Chile, La Universidad del Pacifico in Peru, among other. Thus, neuroscience has been integrated into various areas of study within organizations.

artificial intelligence, network, programming

In Galicia, through the study of neuroscience they managed to identify better work methodologies that would allow them to connect different business areas and improve their KPIs. The transformation agile It is a success story for us because it gave us the possibility of facing the pandemic very prepared so, for example, we could all be working from our homes in a week and implement remote services in a matter of days, explains Dogliolo.

Startups, the future of business and neuroscience

Startups represent a driving force for innovation and change. In this context, Neuroscience is a strategic resource for these emerging companies. By understanding how the brain works in relation to purchasing decisions, interacting with products and services, and managing teams, startups can make more informed decisions and design more effective strategies.

Universities play a key role as a point of contact between academia and startups. They not only offer business training programs, but also serve as innovation centers where autonomous initiatives can be carried out.. CEMA and Universidad del Pacifico offer laboratory and master’s programs, while Universidad Adolfo Ibez offers neuroleadership courses. This integrated approach between academia and the business world is essential to promote innovation and economic development, highlights Canga.

 
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