Self Efficacy Theory

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2.2.3 Self- efficacy Ryan in 1970 states that self-efficacy also determines intention to become an entrepreneur. Researcher found that the root history of self-efficacy begins within Bandura’s in 1977, which known as social learning theory that was renamed social cognitive theory in 1986. Self-efficacy is the one of Bandura’s major concepts. According to Pajares in 2002, the theory refers to when people believe that they are able to achieve objectives they desire, they will have a strong motivation to act toward the accomplishment of the objectives. Based on Bandura in 1982, self-efficacy is the task-specific consideration of perceived fitness to perform a particular activity. Or in other word, a person’s belief in his or her ability to manage…show more content…
People have other criteria in their career choices, such as security, level of independence, variety of tasks and interest in their work. Higher income levels may prompt people to fulfil ‘higher needs’, such as self-realisation and independence, through entrepreneurship. The British Household Survey found that, in addition to material motivations (money and status), people chose to become entrepreneurs as a means to self-fulfilment (freedom, independence and challenge). For some, who cannot find a regular job to their satisfaction, the choice of becoming an entrepreneur may stem partly or entirely from economic necessity. Becoming an entrepreneur may provide them with the prospect of creating a better position for…show more content…
In response to growing public expectations regarding the impact of business activities on society and the environment, many large companies have adopted formal strategies on Corporate Social Responsibility. This includes voluntarily integrating social and environmental concerns in their business operations and in their interaction with stakeholders, recognising that responsible business behaviour can support business success. Suchbehaviour can include, for example, a commitment to producing in an environmentally friendly manner (‘eco-efficiency’) or respecting consumer concerns and doing business in a consumer-friendly manner. SMEs demonstrate ‘responsible entrepreneurship’ in a more informal way but they provide the fabric and focal point for many communities. Entrepreneurship can also play a positive role in delivering health, education and welfare services efficiently. Social economy enterprises encourage the participation of stakeholders in the management and delivery of such services, enhancing innovation and client-orientation. Such an approach can supplement public resources and extend the range of services offered to

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