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Utilization of Self-Efficacy as an indicator of entrepreneur success

Utilization of Self-Efficacy as an indicator of entrepreneur success

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    Utilization of Self-Efficacy as an indicator of entrepreneur success Utilization of Self-Efficacy as an indicator of entrepreneur success Presentation Transcript

    • Northern Initiatives Utilization of Self-Efficacy as an indicator of entrepreneur success Everett Decision Systems, LLC
    • Self-Efficacy Defined
      • “ The belief in one’s capability to organize and execute the courses of action required to manage prospective situations.”
      • “ Self reflection is the most uniquely human characteristic.”
      • - Albert Bandura
      Everett Decision Systems, LLC
    • Perceived Competence
      • “ People who regard themselves as highly
      • efficacious act, think, and feel differently from
      • those who perceive themselves as inefficacious.
      • They produce their own future, rather than simply foretell it.”
      • “ Self-belief does not necessarily ensure success, but self-disbelief assuredly spawns failure.”
      • -Albert Bandura
      Everett Decision Systems, LLC
    • PEOPLE WITH HIGH LEVELS OF PERCEIVED COMPETENCE
      • Are more effective at:
      • Regulating their motivation
      • Not creating catastrophic cognitions (Chicken Little Syndrome)
      • Modulating affective arousal (Not emotionally reactive)
      • Remaining task oriented in the face of threats
      • Maintaining a strong commitment to goals
      • Making an effort toward mastery in the face of challenges
      • Being resilient in the face of failure
      • Crediting their achievements to their own capabilities rather than to external factors
      • THAN PEOPLE WITH LOW LEVELS OF PERCEIVED COMPETENCE
      Everett Decision Systems, LLC
    • How beliefs become reality
      • Perceived competence influences:
      • The choices we make
      • The effort we put forth
      • How long we persist when confronted with obstacles
      • How we feel
      Everett Decision Systems, LLC
    • EFFICACY/COMPETENCY PROCESSES
      • Cognitive Processes: Competency beliefs shape the types of anticipatory scenarios people construct and rehearse.
      • Motivational Processes : Competency beliefs determine the goals people set, how much effort they expend, how long they persevere in the face of difficulties, and resilience in the face of failure.
      • Affective Processes : Competency beliefs determine how much stress people experience and their ability to control anxiety and disturbing thoughts.
      Everett Decision Systems, LLC
    • The missing link?
      • Self-efficacy research findings show that people’s beliefs in their abilities are better predictors of their behavior and performance than their actual abilities.
      • Self-efficacy mediates how personality and technical competencies manifest in real-world life conditions.
      Everett Decision Systems, LLC
    • Developing Self-Efficacy
      • Mastery experiences
        • Succeeding in realistic goals/tasks
      • Vicarious experiences (modeling)
        • Mentoring, role-models, supervision
      • Verbal persuasion
        • Support, affirmation, positive peer pressure
      • Re-evaluating physiological states
        • Mind-body health, relaxation, cognitive-behavioral interventions
      Everett Decision Systems, LLC
    • Mastery The interpreted result of purposive performance
      • Success raises self-efficacy, failure lowers it.
        • Realistic, achievable goals
        • Baby steps
        • Positive, and unambiguous feedback
        • Build on small successes
      Everett Decision Systems, LLC
    • Vicarious Experience Effects produced by the actions of others
      • People become more sensitive to this when mastery is less accessible
      • Modeling, mentoring, peer pressure, counselor behaviors and attitudes very important
      • The more similar to the model you perceive yourself, the more impact their success/failure will have on your self-efficacy
      Everett Decision Systems, LLC
    • Social Persuasion Social messages received from others
      • Cultivate belief in capabilities while assuring that success is attainable (Stephen Glenn – “I couldn’t have done that without you”)
      • Negative persuasion defeats self-efficacy and is easier to do than raising self-efficacy through positive persuasion
      • Power of lingering childhood messages (Adult Attachment Styles)
      Everett Decision Systems, LLC
    • Physiological States Provide information about efficacy beliefs
      • Stress, anxiety, arousal, fatigue, and mood states
      • People “read” themselves, and physiological information is interpreted through the filter of beliefs
      • Key is to differentiate state vs. trait
      Everett Decision Systems, LLC
    • Benefits of Increased Self-Efficacy
      • Improved work performance
      • Reduced illness and sick leave
      • Improved morale, mood, and energy
      • Reduced negative behaviors
      • Improved sense of belonging and loyalty
      • Increase initiative and problem-solving
      • Improved customer satisfaction
      Everett Decision Systems, LLC
    • Validation Studies of Self-Efficacy as a predictor of successful entrepreneurs
      • Zhao, H., Seibert, S., & Hill, G. (2005)
        • Found that self-efficacy was strong predictor of entrepreneurial success
        • Indicated that previous attributes of entrepreneur success (formal learning, experience, and risk propensity) all filtered through self-efficacious constructs
      • Brice, J. (2006)
        • Significant finding that self-efficacy assessments are able to ‘profile’ individuals with strong entrepreneurial competencies
      • Chen, C., Greene, P., & Crick, A. (1998)
        • Positive correlation between students with high self-efficacy and entrepreneurial success
      Everett Decision Systems, LLC
    • Everett Decision Systems, LLC Moment of start-up Culture of society awareness Interest and decisions Early stages of survival Growth assuming survival Entrepreneurial Process Timeline
    • Capabilities Awareness Profile (CAP)
      • 124 item self-report
      • Self-efficacy, positive psychology, EQ
      • Self, Relational, Role competencies
      • Gender differences
      • Reliability studies
      • Concurrent validity
      • ‘ narrative’ validity in design
      • 10 year history in outcomes research
      Everett Decision Systems, LLC
    • CAP Scales and Sub-Scales
      • Self Competency Subscales
      • Self Awareness
      • Self Acceptance
      • Self Actualization
      • Self Regulation
      • Adaptability
      • Motivation
      • Optimism
      • Assertiveness
      • Relational Competency Subscales
      • Social Identification
      • Empathy
      • Positive Emotions
      • Role Competency Subscale
      • Role Compliance
      Everett Decision Systems, LLC
    • SELF COMPETENCIES
      • Self Awareness – Ability to be aware of one’s beliefs, values, expectations, needs and feelings
      • Self Acceptance – Ability to accept both positive and negative aspects of one’s self
      • Self Actualization – Ability to live up to one’s potential through the pursuit of challenging goals, setting high personal standards, and pursuing tasks outside one’s comfort zone
      • Self Regulation – Ability to control one’s thoughts and feelings in times of stress and remain calm under pressure
      • Adaptability – Ability to solve problems by being flexible, creative, and translating ideas into action
      • Motivation – Ability to begin and sustain behaviors to accomplish goals
      • Optimism – Ability to be positive and hopeful about the future in the face of stress, setbacks, or disappointments
      • Assertiveness – Ability to express thoughts and feelings in a nondestructive manner
      Everett Decision Systems, LLC
    • RELATIONAL COMPETENCIES
      • Social Identification – Ability to feel connected with others
      • Empathy – Ability to be aware of, sensitive to, and appreciate others’ thoughts and feelings and to respond in an understanding manner
      • Positive Emotions – Ability to experience and sustain positive emotions
      Everett Decision Systems, LLC
    • ROLE COMPETENCY
      • Role Compliance – Ability to comply with rules and expectations
      Everett Decision Systems, LLC