Northern Initiatives Utilization of Self-Efficacy as an indicator of entrepreneur success Everett Decision Systems, LLC
Self-Efficacy Defined <ul><li>“ The belief in one’s capability to organize and execute the courses of action required to m...
Perceived Competence <ul><li>“ People who regard themselves as highly  </li></ul><ul><li>efficacious act, think, and feel ...
PEOPLE WITH HIGH LEVELS OF  PERCEIVED COMPETENCE <ul><li>Are more effective at: </li></ul><ul><li>Regulating their motivat...
How beliefs become reality <ul><li>Perceived competence influences: </li></ul><ul><li>The choices we make </li></ul><ul><l...
EFFICACY/COMPETENCY PROCESSES <ul><li>Cognitive Processes:   Competency beliefs shape the types of anticipatory scenarios ...
The missing link? <ul><li>Self-efficacy research findings show that people’s beliefs in their abilities are better predict...
Developing Self-Efficacy <ul><li>Mastery experiences </li></ul><ul><ul><li>Succeeding in realistic goals/tasks </li></ul><...
Mastery The interpreted result of purposive performance <ul><li>Success raises self-efficacy, failure lowers it. </li></ul...
Vicarious Experience Effects produced by the actions of others <ul><li>People become more sensitive to this when mastery i...
Social Persuasion Social messages received from others <ul><li>Cultivate belief in capabilities while assuring that succes...
Physiological States Provide information about efficacy beliefs <ul><li>Stress, anxiety, arousal, fatigue, and mood states...
Benefits of Increased Self-Efficacy <ul><li>Improved work performance </li></ul><ul><li>Reduced illness and sick leave </l...
Validation Studies of Self-Efficacy as a predictor of successful entrepreneurs <ul><li>Zhao, H., Seibert, S., & Hill, G. (...
Everett Decision Systems, LLC Moment of start-up Culture of society awareness Interest and decisions Early stages of survi...
Capabilities Awareness Profile (CAP)  <ul><li>124 item self-report </li></ul><ul><li>Self-efficacy, positive psychology, E...
CAP Scales and Sub-Scales <ul><li>Self Competency Subscales </li></ul><ul><li>Self Awareness </li></ul><ul><li>Self Accept...
SELF COMPETENCIES <ul><li>Self Awareness  –  Ability to be aware of one’s beliefs, values, expectations, needs and feeling...
RELATIONAL COMPETENCIES <ul><li>Social Identification  – Ability to feel connected with others </li></ul><ul><li>Empathy  ...
ROLE COMPETENCY <ul><li>Role Compliance  – Ability to comply with rules and expectations </li></ul>Everett Decision System...
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Utilization of Self-Efficacy as an indicator of entrepreneur success

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Utilization of Self-Efficacy as an indicator of entrepreneur success

  1. 1. Northern Initiatives Utilization of Self-Efficacy as an indicator of entrepreneur success Everett Decision Systems, LLC
  2. 2. Self-Efficacy Defined <ul><li>“ The belief in one’s capability to organize and execute the courses of action required to manage prospective situations.” </li></ul><ul><li>“ Self reflection is the most uniquely human characteristic.” </li></ul><ul><li>- Albert Bandura </li></ul>Everett Decision Systems, LLC
  3. 3. Perceived Competence <ul><li>“ People who regard themselves as highly </li></ul><ul><li>efficacious act, think, and feel differently from </li></ul><ul><li>those who perceive themselves as inefficacious. </li></ul><ul><li>They produce their own future, rather than simply foretell it.” </li></ul><ul><li>“ Self-belief does not necessarily ensure success, but self-disbelief assuredly spawns failure.” </li></ul><ul><li>-Albert Bandura </li></ul>Everett Decision Systems, LLC
  4. 4. PEOPLE WITH HIGH LEVELS OF PERCEIVED COMPETENCE <ul><li>Are more effective at: </li></ul><ul><li>Regulating their motivation </li></ul><ul><li>Not creating catastrophic cognitions (Chicken Little Syndrome) </li></ul><ul><li>Modulating affective arousal (Not emotionally reactive) </li></ul><ul><li>Remaining task oriented in the face of threats </li></ul><ul><li>Maintaining a strong commitment to goals </li></ul><ul><li>Making an effort toward mastery in the face of challenges </li></ul><ul><li>Being resilient in the face of failure </li></ul><ul><li>Crediting their achievements to their own capabilities rather than to external factors </li></ul><ul><li>THAN PEOPLE WITH LOW LEVELS OF PERCEIVED COMPETENCE </li></ul>Everett Decision Systems, LLC
  5. 5. How beliefs become reality <ul><li>Perceived competence influences: </li></ul><ul><li>The choices we make </li></ul><ul><li>The effort we put forth </li></ul><ul><li>How long we persist when confronted with obstacles </li></ul><ul><li>How we feel </li></ul>Everett Decision Systems, LLC
  6. 6. EFFICACY/COMPETENCY PROCESSES <ul><li>Cognitive Processes: Competency beliefs shape the types of anticipatory scenarios people construct and rehearse. </li></ul><ul><li>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. </li></ul><ul><li>Affective Processes : Competency beliefs determine how much stress people experience and their ability to control anxiety and disturbing thoughts. </li></ul>Everett Decision Systems, LLC
  7. 7. The missing link? <ul><li>Self-efficacy research findings show that people’s beliefs in their abilities are better predictors of their behavior and performance than their actual abilities. </li></ul><ul><li>Self-efficacy mediates how personality and technical competencies manifest in real-world life conditions. </li></ul>Everett Decision Systems, LLC
  8. 8. Developing Self-Efficacy <ul><li>Mastery experiences </li></ul><ul><ul><li>Succeeding in realistic goals/tasks </li></ul></ul><ul><li>Vicarious experiences (modeling) </li></ul><ul><ul><li>Mentoring, role-models, supervision </li></ul></ul><ul><li>Verbal persuasion </li></ul><ul><ul><li>Support, affirmation, positive peer pressure </li></ul></ul><ul><li>Re-evaluating physiological states </li></ul><ul><ul><li>Mind-body health, relaxation, cognitive-behavioral interventions </li></ul></ul>Everett Decision Systems, LLC
  9. 9. Mastery The interpreted result of purposive performance <ul><li>Success raises self-efficacy, failure lowers it. </li></ul><ul><ul><li>Realistic, achievable goals </li></ul></ul><ul><ul><li>Baby steps </li></ul></ul><ul><ul><li>Positive, and unambiguous feedback </li></ul></ul><ul><ul><li>Build on small successes </li></ul></ul>Everett Decision Systems, LLC
  10. 10. Vicarious Experience Effects produced by the actions of others <ul><li>People become more sensitive to this when mastery is less accessible </li></ul><ul><li>Modeling, mentoring, peer pressure, counselor behaviors and attitudes very important </li></ul><ul><li>The more similar to the model you perceive yourself, the more impact their success/failure will have on your self-efficacy </li></ul>Everett Decision Systems, LLC
  11. 11. Social Persuasion Social messages received from others <ul><li>Cultivate belief in capabilities while assuring that success is attainable (Stephen Glenn – “I couldn’t have done that without you”) </li></ul><ul><li>Negative persuasion defeats self-efficacy and is easier to do than raising self-efficacy through positive persuasion </li></ul><ul><li>Power of lingering childhood messages (Adult Attachment Styles) </li></ul>Everett Decision Systems, LLC
  12. 12. Physiological States Provide information about efficacy beliefs <ul><li>Stress, anxiety, arousal, fatigue, and mood states </li></ul><ul><li>People “read” themselves, and physiological information is interpreted through the filter of beliefs </li></ul><ul><li>Key is to differentiate state vs. trait </li></ul>Everett Decision Systems, LLC
  13. 13. Benefits of Increased Self-Efficacy <ul><li>Improved work performance </li></ul><ul><li>Reduced illness and sick leave </li></ul><ul><li>Improved morale, mood, and energy </li></ul><ul><li>Reduced negative behaviors </li></ul><ul><li>Improved sense of belonging and loyalty </li></ul><ul><li>Increase initiative and problem-solving </li></ul><ul><li>Improved customer satisfaction </li></ul>Everett Decision Systems, LLC
  14. 14. Validation Studies of Self-Efficacy as a predictor of successful entrepreneurs <ul><li>Zhao, H., Seibert, S., & Hill, G. (2005) </li></ul><ul><ul><li>Found that self-efficacy was strong predictor of entrepreneurial success </li></ul></ul><ul><ul><li>Indicated that previous attributes of entrepreneur success (formal learning, experience, and risk propensity) all filtered through self-efficacious constructs </li></ul></ul><ul><li>Brice, J. (2006) </li></ul><ul><ul><li>Significant finding that self-efficacy assessments are able to ‘profile’ individuals with strong entrepreneurial competencies </li></ul></ul><ul><li>Chen, C., Greene, P., & Crick, A. (1998) </li></ul><ul><ul><li>Positive correlation between students with high self-efficacy and entrepreneurial success </li></ul></ul>Everett Decision Systems, LLC
  15. 15. 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
  16. 16. Capabilities Awareness Profile (CAP) <ul><li>124 item self-report </li></ul><ul><li>Self-efficacy, positive psychology, EQ </li></ul><ul><li>Self, Relational, Role competencies </li></ul><ul><li>Gender differences </li></ul><ul><li>Reliability studies </li></ul><ul><li>Concurrent validity </li></ul><ul><li>‘ narrative’ validity in design </li></ul><ul><li>10 year history in outcomes research </li></ul>Everett Decision Systems, LLC
  17. 17. CAP Scales and Sub-Scales <ul><li>Self Competency Subscales </li></ul><ul><li>Self Awareness </li></ul><ul><li>Self Acceptance </li></ul><ul><li>Self Actualization </li></ul><ul><li>Self Regulation </li></ul><ul><li>Adaptability </li></ul><ul><li>Motivation </li></ul><ul><li>Optimism </li></ul><ul><li>Assertiveness </li></ul><ul><li>Relational Competency Subscales </li></ul><ul><li>Social Identification </li></ul><ul><li>Empathy </li></ul><ul><li>Positive Emotions </li></ul><ul><li>Role Competency Subscale </li></ul><ul><li>Role Compliance </li></ul>Everett Decision Systems, LLC
  18. 18. SELF COMPETENCIES <ul><li>Self Awareness – Ability to be aware of one’s beliefs, values, expectations, needs and feelings </li></ul><ul><li>Self Acceptance – Ability to accept both positive and negative aspects of one’s self </li></ul><ul><li>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 </li></ul><ul><li>Self Regulation – Ability to control one’s thoughts and feelings in times of stress and remain calm under pressure </li></ul><ul><li>Adaptability – Ability to solve problems by being flexible, creative, and translating ideas into action </li></ul><ul><li>Motivation – Ability to begin and sustain behaviors to accomplish goals </li></ul><ul><li>Optimism – Ability to be positive and hopeful about the future in the face of stress, setbacks, or disappointments </li></ul><ul><li>Assertiveness – Ability to express thoughts and feelings in a nondestructive manner </li></ul>Everett Decision Systems, LLC
  19. 19. RELATIONAL COMPETENCIES <ul><li>Social Identification – Ability to feel connected with others </li></ul><ul><li>Empathy – Ability to be aware of, sensitive to, and appreciate others’ thoughts and feelings and to respond in an understanding manner </li></ul><ul><li>Positive Emotions – Ability to experience and sustain positive emotions </li></ul>Everett Decision Systems, LLC
  20. 20. ROLE COMPETENCY <ul><li>Role Compliance – Ability to comply with rules and expectations </li></ul>Everett Decision Systems, LLC

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