Mobile App Marketing – Managing Human Capital and Entrepreneurship
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TITLE PAGETITLE- LITERATURE REVIEW (TASK1) AND BUSINESS PLAN (TASK2)NAME- SUBHADARSHI GUHA ID- I0018DOEDOE0215DATE-06/05/2015INSTITUTION-INDIAN SCHOOL OF BUSINESS AND COMPUTING (LONDON SCHOOL OF COMMERCE) SUBJECT- MANAGING HUMAN CAPITAL AND ENTREPRENEURSHIP TASK 1 Table of ContentsSerial no.Topics
LITERATURE REVIEW Self-efficacy Entrepreneurial self-efficacy’ is one of the five most important traits impacting entrepreneurial behaviour. The term ‘self-efficacy’ which may also be called, ‘perceived self-confidence’ is an individual’s self- belief in dealing with situations and coming up with productive results without having a prior knowledge of the situation. An entrepreneur has always to identify a business opportunity that has not been identified before which requires a lot of self-belief. He or she has to deal with completely unknown situations and results for which a perceived self-belief is needed. This self-belief, in the entrepreneurial context is known as ‘entrepreneurial self-efficacy’. Self-efficacy in mobilising resources Albert Bandura (1997) defined self-efficacy as a person’s perceived beliefs about his or her ability to mobilise all cognitive resources and perform the necessary set of actions to execute a given task, successfully. Bandura’s ‘socio-cognitive theory’ states that a person’s behaviour is related to his or her environment and other cognitive factors. While talking about the functioning of self-regulatory systems he states that self-efficacy helps in the valuation of different activities. People become self-efficacious about their activities of interest, from which he or she may draw satisfaction and which best suits his or her capabilities. In this context it may be said that since an individual is well aware of its own capabilities and shortcomings, the self-efficacy belief makes it easier to identify and employ resources relevant to the goal. It gives the individual an exact clue as to what knowledge, skills, efforts, manpower and monetary resources is necessary for the specific task despite the task being never done before. Self-efficacy in motivating others Self-efficacy is a task-specific self-confidence. An individual’s self-efficacy can largely predict his or her success in a particular task (Shane et al., 2003). The given statement talks about the importance of self-efficacy in the entrepreneurial concept saying that it boosts confidence in a person about its capability of motivating others and initiate a business. Bandura, explains the role of self-efficacy on motivational processes. He puts forward three theories based on the motivational effects of self-efficacy- attribution, expectancy-value and goal theory.