Self Efficacy and Business

Question: Discuss about theSelf Efficacy and Business. Answer: Introduction: Self efficacy can be defined as ones confidence in his or her own ability to face certain challenges in specific situations. Everyone has goals in life or may have at a certain point in life. Therefore there is need for one to have self believe in tackling specific issues in order to achieve ones objectives effectively. The most beautiful thing in believing in oneself is that it gives a person the morale to push on until the ultimate goal is reached or rather achieved. Self efficacy plays a key role in determining how we tackle and face our duties to bring out fruitful end results. Self efficacy and business may mean successful entrepreneurship and a greater economy after all. The issue of risk taking in business portrays clearly that there is no space for individuals with low self-esteem and those that lack the act of confidence. Business personalities with high levels of self efficacy will relatively set high level goals in their organisations hence achieving more and giving their businesses a chance to thrive and a better reputation. Such individuals are highly competitive and always find themselves in the winning side in the field of business. On the other hand people with low levels of confidence dont tend to think big and their goals are always of low level. These people dont go far and their achievements are shot lived. Highly confident people achieve greater thing as their minds are expansive and they think broad. These people achievements are long lived and sometimes they are used as referrals for their future performance. This is a greater tool in bus iness management. In literature review on self-efficacy, Albert Bandura and Edwin Locke stated self efficacy is a powerful determinant of job performance. In business self efficacy always goes hand in hand with sober mind smart brains. One would wonder if self efficacy is an entrepreneurial skill. I would say it is highly required value for business men who dream of being successful. How will it help one to be successful? Dont dream impossibilities or otherwise you may turn out to be a day dreamer. The confidence discussed means being realistic and setting achievable goals. A wise entrepreneur will set goals that are within his reach at specific period of time or season. This way an individual being driven by the spirit of self efficacy he or she gains the courage to face challenges and tackle all the tasks subject to attaining the set goals. Such individuals set examples to other low esteemed colleagues. Self efficacy is a motivation tool in any business organisation. If one believes in his ability to tackle specific tasks he will definitely go for whatever he believes he can achieve. Such aggressiveness in most cases will bear positives results and such kind of employees end up being rewarded beautifully by their employers for good performance(Drnovs, Wincent, Cardon, 2009). As a result of this other employees will tend to copy the behaviour of hardworking employees for the also to enjoy the sweet fruits self efficacy. This will generally improve the performance of the whole organisation. When an employer sets difficult goals for employees it may lead them to develop high levels of self efficacy. According to Locke and Latham, setting difficult goals communicates confidence. Researchers have found that self efficacy is a construct constituting of goal and beliefs that play a big role when setting up a business. Most researchers were motivated by the urge to provide a definition to self efficacy and the role it plays on the process of starting up a business. Qualitative research has been used by authors as this is the study of a human behaviour. Finally self efficacy is a co value that should be encouraged and adopted in all human activities whether economical or social as its benefits are countless and they all have positive response to human nature and the world. People with self efficacy are the most productive hence have a great contribution to development of their countries as while as economies. This is a topic that all academic systems should adopt especially at the basic level of education(Psychologists, 2008). The importance of this is because young children are easier to learn and accept this valuable behaviour. Once this topic is introduced in schools our children will grow with high levels of self esteem and a strong believe that no matter what they are capable of great things in life. Many of people who never made it in life would blame those who were elders while they were growing. They never put confidence in them. Children deserve congratulatory phrases whenever they do something good. This motivates them and gives them the urge to do even better. Kids who grew with self efficacy will produce the most responsible citize References Drnovs, M., Wincent, J., Cardon, M. S. (2009). Entrepreneurial self-efficacy and business start-up: developing a multi-dimensional definition. journal of entreprenuerial self-efficacy, 20. Flood, M. J. (2012). Mentoring and Self-efficacy in Female Undergraduate Business Students. Psychologists, N. A. (2008). Self-Efficacy: Helping Children Believe They Can Succeed. A resource for parenting positive kids, 4. University, C. (2006). The Relationship Between Self Efficacy, Project Leadership Outcome and Future Intentions to Engage in Organizational Business Process Improvement Opportunities: A Survey Analysis. Ann Arbor, Michigan: ProQuest.