Feedback as a key factor in business development

I. I. Farafonov ()

Entrepreneur’s Guide, 2023, vol. 16, issue 4

Abstract: This article explores how to effectively foster a feedback culture within an organization. It outlines key principles for providing constructive, motivating, and impactful feedback, including timeliness, an unbiased approach, the use of «I–messages», a positive orientation, openness, and dialogue. Additionally, the article delves into methods of integrating feedback into the organization’s culture, such as one–on–one meetings, feedback cycles, performance evaluations, and cultivating a growth mindset. Furthermore, ethical principles such as confidentiality, objectivity, honesty, and an individualized approach are discussed. By adhering to these approaches and principles and implementing a feedback system within the organization’s culture, companies can create an atmosphere of continuous improvement, trust, and collaboration. A feedback culture rooted in these principles contributes to both the personal growth of employees and motivates them to align their actions with the organization’s goals, ultimately enhancing overall business effectiveness.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ahc:journl:y:2023:id:1837

DOI: 10.24182/2073-9885-2023-16-4-192-201

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