Psychology has so many areas of study: clinical psychology, forensic psychology, educational psychology, and the list goes on.
If you’re interested in applying psychology to the business world, you’re likely interested in the industrial and organizational psychology and business psychology fields. We’ve highlighted some of the key differences between the two along with I/O and Business Psychology degree program options.
What is Industrial and Organizational Psychology?
Industrial and organizational psychology, also known as I/O psychology, is the study of the workplace.
According to the American Psychological Association, I/O psychology pulls from ideas about decision theory, small group theory, and criterion theory, and applies them to real-world workplace situations.
This field focuses on analyzing employee engagement, company culture, retention, productivity, morale, and team building.
Industrial and organizational psychologists can work with individual employees, groups, management teams, and consultants on improving workplace processes.
For Dr. Jeremy Nicholson, a TCSPP professor of behavioral economics, I/O psychology is “a standardized skillset” that includes personnel selection, workplace training, business development, human resources, and consulting.
Are you interested in pursuing an industrial and organizational psychology degree? Whether you’re looking for an online program or an on-campus degree program near you, The Chicago School offers a certificate and a variety of M.A. programs in this field.
Request infoWhat is Business Psychology?
While I/O psychology focuses on more individual and personal workplace issues such as engagement and morale, business psychology applies psychological practices to big-picture areas.
These areas include corporate strategy, stakeholder relationships, market performance, and broader business operations. Professionals who are knowledgeable of this intersection between psychology and business use assessment and intervention skills to analyze high-level issues and provide recommendations to a business leadership team.
Business Psychology careers include consultants, program directors, and organizational development specialists. Oftentimes, business psychologists work with senior leadership teams, business owners, and board members.
The Chicago School offers business psychology degrees and certificates either online or at our campuses, including:
- Business Psychology
- B.S. Business Psychology
- Ph.D. Business Psychology
Industrial/Organizational Psychology and Business Psychology Intertwined
Of course, I/O psychology and business psychology are clearly linked. Both work to improve the overall function, performance, and efficiency of businesses.
The merging of these two disciplines creates the possibility for professionals to establish themselves as authorities with multiple psychological foundations that are rooted in business-minded practices. Professionals in I/O and business psychology are not only able to navigate business fields but also understand and describe the psychological nuance that drives individual behavior—and this makes them more versatile.
According to Dr. Jay Finkelman, a professor at The Chicago School of I/O business psychology and the department chair of the Southern California campuses, “they all fit under the same umbrella.”
This overlap is clear even in The Chicago School’s degree tracks. For example, you can pursue a business psychology degree with an industrial and organizational focus.
Finally, many I/O psychologists cover corporate strategy, and business psychologists analyze issues such as employee retention and productivity. All aspects of a business are intertwined, so it’s inevitable that two psychology fields that specialize in helping businesses succeed are intertwined.
Degrees in I/O Psychology
At The Chicago School, prepare our students for the today’s complex business environment with a variety of I/O psychology programs.
Learn more about The Chicago School
Are you interested in learning more about The Chicago School’s Business Psychology Degree Programs? Fill out the form below to request more information, or visit our programs page. You can also apply today through our application portal.