It’s clear that the private sector has significant interest in behavioral science. A recent survey of behavioral teams found over 300 teams within companies, including Walmart, PepsiCo, and Morningstar, among other large firms. The implied promise of behavioral science—that a better understanding of human behavior can lead to better products, services, and decisions—is relevant and compelling to the private sector. And fortunately, we now have many success stories to share, involving customers, employees, and organizational decision-making.
Given the unmatched resources and reach of the private sector, there is clearly an opportunity to make a positive impact using behavioral science, both internally within companies and externally.
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This article was written by Richard Bordenave, CEO of BVA Nudge Consulting Singapore and Divya Radhakrishnan, an Applied Behavioural Scientist who works […]