Entrepreneurial Self Efficacy - 1962 Words

Business opportunities are like buses, there s always another one coming. - Richard Branson, founder of Virgin Enterprises With a plethora of new ideas, innovations, skills and opportunities, entrepreneurship has become a new trend in employment across the world. It is a good way to alleviate the pressure on employment. Entrepreneurship can improve economic efficiency, bring market innovation, increase employment opportunities and maintain employment levels (Shane, amp; Venkataraman,2000). Keeping this in mind, in the recent years, universities now focus their attention to promote entrepreneurship through education so as to instill motivation, confidence, interest and†¦show more content†¦(Source: â€Å"Entrepreneurial self-efficacy and business start-up: developing a multi-dimensional definition† by DrnovÃ… ¡ek M. et al). Theories in the past suggest that education targeted towards entrepreneurship can plays an important role in developing levels of self-efficacy. A bulk of researches has been done on how education has affected the entrepreneurial self-efficacy among the students. Bandura has said that self-confidence in our abilities to successfully perform specific tasks comes from four key sources: mastery experiences, modeling, social persuasion, and judgments of our own physiological states. Thus by providing education that is focused towards developing skills and interest for entrepreneurship, can develop self-efficacy in individuals. However, this is not always true. Sometimes entrepreneurship education can also have a negative impact. Particular combination of personal, perceptional and situational factors can lead to entrepreneurship education actually decreasing the level of entrepreneurial intentions. Researchers like Fayolle et al (2006) and Brockner et al (2004) have suggested that educat ion programs can have a counter effect too. Nevertheless, my personal belief is that entrepreneurship education has a positive impact on entrepreneurial self-efficacy. Earlier reviews on the entrepreneurship education reveal that entrepreneurship education should take the action-learning or experience-oriented learning approach in order to increase theShow MoreRelatedEntrepreneurship And Entrepreneurial Intention And Self Efficacy1580 Words   |  7 Pages 2004; Kaijun and Sholihah, 2015). The entrepreneurial intention is a commitment to twitch a new business (Krueger, 1993; Autio et al., 2001). In the regions of British and Spain investigated by Linan, Nabi and Krueger (2013) that enhancing the level of knowledge and awareness about entrepreneurship would increase self-efficacy perceptions and hence entrepreneurial intentions. 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