{"id":30065,"date":"2022-05-30T04:11:21","date_gmt":"2022-05-30T04:11:21","guid":{"rendered":"https:\/\/enterpriseagility.university\/?p=30065"},"modified":"2022-05-30T21:49:06","modified_gmt":"2022-05-30T21:49:06","slug":"newsletter-17-the-implications-of-psychological-ownership-in-companies-exposed-to-high-volatility","status":"publish","type":"post","link":"https:\/\/enterpriseagility.university\/newsletter-17-the-implications-of-psychological-ownership-in-companies-exposed-to-high-volatility\/","title":{"rendered":"Newsletter #17: The Implications of Psychological Ownership in Companies Exposed to High Volatility"},"content":{"rendered":"\t\t
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Scientific Newsletter #17<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Again this week, I thank you for being here! Let’s talk today about\u00a0psychological ownership<\/strong>\u00a0and its implications for\u00a0companies exposed to high volatility<\/strong>.<\/p>

If you’re a Formula One driver, during your first few races you’ll see yourself simply as someone driving a high-performance car. As the weeks go by, your efforts and\u00a0time invested<\/strong>\u00a0will make you feel like\u00a0you own the car<\/strong>. Without realizing it, your mind takes over the car, the goals, the strategy, and everything that could affect your future\u2014even if the car isn’t yours and you’re just an employee of the brand.<\/p>

Without realizing it, your mind takes over the car, the goals, the strategy, and everything that could affect your future<\/blockquote>

Psychologists refer to this as\u00a0psychological ownership<\/strong>. It comes about because individuals invest time and effort, contribute creatively, make decisions, and learn from what they do. If you’re a\u00a0leader<\/strong>, you probably psychologically own the phases of the products, their successes, and their impact. You feel a strong sense of responsibility and expect others to show the same commitment.<\/p>

Until 2001, not many people had thought that there was a link between psychological ownership and organizational success. From then on, many researchers began to conduct studies in companies. But I’d like to take it a step further and relate the concept of psychological ownership to agile, digital, and exponential companies.<\/p>

For example, software developers may take ownership of lines of code, modules they’re particularly proud of, a software infrastructure they’ve developed, or a process or tool. This\u00a0psychological pattern\u00a0<\/strong>can occur even when the company clearly states that work produced during work hours is company property.<\/p>

Software developers may take ownership of lines of code, modules they’re particularly proud of, a software infrastructure they’ve developed, or a process or tool<\/blockquote>

This ownership is a significant benefit to the company. This is because it allows employees to feel proud and advance their careers by creating excellent products:<\/p>