Entrepreneurial Self Efficacy

Entrepreneurship is a term that has reentered the public vernacular over the last few years, many times in reference to what is wrong with America but what it means is rarely defined. Furthermore, it is generally agreed that more Entrepreneurship is a desirable trait but how to go about encouraging it is again a point of contention. This paper will address a specific facet of entrepreneurship and attempt to discover what are the key drivers to foster an entrepreneurial spirit from childhood.

The benefits to elementary students include increased attendance, high academic achievement, better use of opportunity recognition and problem solving skills, and an exploration in ethical issues. In middle school, entrepreneurship education is seen to improve academic skills, increase self esteem, encourage risk taking and learning from failure, learn about opportunity cost, and foster idea generation. Overall it caused students to enter the adult world with a sense of more self-worth, self awareness, personal responsibility, motivation, communication skills, and creativity. This source serves as bank of example to my claim to increase entrepreneurship education in South

Global Entrepreneurship Monitor (GEM), which provides an annual assessment of the national level of entrepreneurial activity (including research data from over sixty-nine countries), posits that one-third of the differences in economic growth among nations may be due to differences in entrepreneurial activity. Governmental units, society, and educational institutions worldwide have documented that the individual entrepreneur is critical in the development of new business ventures (Hisrich, Langan-Fox & Grant 2007). In contemporary times, uncertainty about economic stability is rising. As a result, students are “now faced with a wider variety of employment options, the probability of ending up with a diversity of jobs, more responsibility at work and more stress” (Henry, Hill & Leitch 2005) making entrepreneurship a more appealing options for future graduates. Entrepreneurship skills provide students with more flexibility in their career. They know that starting their own business at any point in their life is still an option due to economic crisis, downsizing or other events. This is also confirmed by the literature on Youth Entrepreneurship, to which Student Entrepreneurship belongs. As Henderson and Robertson put it, “young people are likely to experience a portfolio career consisting of periods of paid employment, non-work, and self-employment (2000). Additionally, according to the latest report from the Kauffman Foundation (2013) it is a global phenomenon: “Among young

Intuition and analysis are two cognitive styles used by entrepreneurs in new venture formation. Researches Kickul, Gundry, Barbosa, and Whitcanack (2009) studied the effects of intuition versus analysis on entrepreneurial self-efficacy and found that “individuals with the intuitive cognitive style were more confident in their ability to identify and recognize opportunities,” but “individuals with the analytic cognitive style were more confident in their abilities to assess, evaluate, plan, and marshal resources” (p. 439). They also found that “intuitive individuals’ intentions toward entrepreneurship are better explained by their self-efficacy beliefs regarding . . . the

From my upbringings inside my parents’ takeout restaurant to starting my own business, entrepreneurship was destined to not only be a scholastic interest but also my personal passion and life-long devotion. As I grew up watching my illiterate parents move to the United States and build their own small business, I learned the importance and value of engaged entrepreneurship. In high school, I began applying that knowledge in my own venture: an export company specializing in consumer discretionary. The experience fueled my love for entrepreneurship because it taught me how essential it is

Scott Adams shares with us the ideal framework for an entrepreneurial curriculum. In his article How to Get a Real Education, he reinforces the fact that the whole is far greater than the sum of these parts, especially in the context of an entrepreneur. Adams tells us of a couple stories from when he was in college and how he used the skills of an entrepreneur to become successful. He saw opportunities, sometimes embedded within problems, and worked them to his favor. This is what he referred to when speaking of the learned skill of transforming “nothing into something”, which is a skill that obviously applies to business. His basic idea is that much academic-oriented education is wasted on many

Having self-efficacy in the workforce reminds me of the spiritual aspect of my life. I was taught to walk by faith, believing in what I cannot see yet, striving toward a certain mark, knowing that through Christ, where my allegiance of faith lies, I will accomplish whatever I set out to do. Having self-efficacy attaches ownership to individuals making them accountable and also allowing a person to use self-efficacy as a beacon to succeed. In starting a new job, you may not have the confidence in accomplishing the task of the new job starting, yet, you have prior experience that you are capable of doing it in time. Your self-efficacy will stand against any doubt or disbelief of succeed reminding you of your past experiences. It

I recently found a sufficient scholarly source that strongly relates to my school’s mission and the topic of Teaching and Learning. The article “Self-Efficacy: A Key to Improving the Motivation of Struggling Learners,” by Howard Margolis and Patrick McCabe, talks about the idea of teachers being in charge of reinforcing self-confidence in struggling students in order to increase the probability of a student becoming successful through persistance and motivation. Margolis and McCabe talk about the benefits of systemic instruction, which involves the teachers organizing their students taks from easy to difficult and explains step by step instruction of what they need to do, and provides the students with feedback and guided practice. Margolis

Personality is considered a fairly stable pattern of psychological behavior (thoughts, feelings, and actions) and influences how one will act in response to diverse circumstances (Quinn, Faerman, Thompson, & McGrath, 2003). Personality does not determine behavior; behavior arises in a context, such as work. According to (Berens et al., 2001), “personalities reflect the requirements of the contexts as well as our innate tendencies and how we have adapted to these contexts over time”. In other words, an individual’s behavior is determined by the requirements of the situation. "Efficacy beliefs do not share the major properties ascribed to personality traits" (Bandura, 1997). While self-efficacy is not

In today’s era self-efficacy has been known to be that, one person can perform any given activity based upon their own beliefs and convictions. According to Bandura “self-efficacy plays an important role and also determines whether or not someone attempts to perform a certain given task, how driven they are when faced with difficulties and also how successful someone is when performing a given

secretary of education states that “high-quality education" that encourages "creativity, imagination, and ingenuity’”. It is true that thirty percentage of startup business failure reasons of “unbalanced Experience or Lack of Managerial Experience”, followed by “lack of Experiences in line of goods or services” is about eleven percentage. Interestingly, company competence occupied the highest rate of failure of 46% (Statistic Verification, Entrepreneur Weekly, Small Business Development Center, Bradley University, university of Tennessee Research). In addition, successful entrepreneur usually possess “highly motivated and willingness to take initiative to execute duties” and have appropriately responsible to their activities, decision, and company’s outcomes.

The economy is composed of enterprises and businesses. Our economy has survived because the industry leaders had been able to adapt to the changing times and supplied mostly the communities’ needs. Entrepreneurship produces financial gain and keeps the economy afloat, which gives rise to the importance of innovation in entrepreneurship. Entrepreneurs are innovators of the economy. The importance of innovation in entrepreneurship is another key value for the longevity of a business. And, being innovative has helped us become successful in all our endeavors.This leads me to choose my higher education in “Master of Business Administration

At the beginning of the course I had only had basic entrepreneur knowledge, I understood the traits, and the amount of thought put into a business. I understood a entrepreneur needed to be able to set goals and had to establish connections and business partners. I was actually lucky enough to have taken a entrepreneur class in highschool. Which taught me lots on how an entrepreneur business is started. It also taught me the required determination and hard work it takes to be a entrepreneur.

Business Studies is an important course that prepares students to face the real practice of commerce. Engaging theory and practice is instrumental in ensuring that students learn the underlying factors that determine the practice of every business practice. Carroll and Buchholtz (2011) suggest that business forms the backbone of the current economic activities as every activity of human life must involve some loss and gain together. Additionally, he notes that entrepreneurship is taking deep roots in the society, a condition which mandates everybody to possess some knowledge in business. Drawing reference from the aforementioned statements, it is important for the society to have individuals who possess not only

There are two sides to every debate, and the "what makes an entrepreneur" argument has raged for decades with neither side able to conclusively prove their case. There are many who believe that an entrepreneur must possess personality traits such as vision, passion and drive that are innate and cannot be taught. Others argue that the skills of evaluating opportunities, motivating people and operating a business are easily passed on to eager students looking to be entrepreneurs. The truth is that both sides are right and it's time for a compromise: Entrepreneurs are born and made. Some people may be natural entrepreneurs and immediately open a business, others will have studied and