Entrepreneurial Self Efficacy

"Business opportunities are like buses, there 's always another one coming." - Richard Branson, founder of Virgin Enterprises

With a plethora of new ideas, innovations, skills and opportunities, entrepreneurship has become a new trend in employment across the world. It is a good way to alleviate the pressure on employment. Entrepreneurship can improve economic efficiency, bring market innovation, increase employment opportunities and maintain employment levels (Shane, & Venkataraman,2000). Keeping this in mind, in the recent years, universities now focus their attention to promote entrepreneurship through education so as to instill motivation, confidence, interest and inspiration in students with such intentions.
Entrepreneurship education program is usually defined as a process of providing individuals with the ability to recognize commercial opportunities and the knowledge, skills and attitudes to act on them (Jones and English, 2004, p.416).
Apart from professional skills and knowledge, entrepreneurship education can foster entrepreneurial aptitudes in every individual, and also create awareness about the benefits of entrepreneurship in the society at large. Therefore, universities have been encouraged to provide more substantial impact on developing and stimulating entrepreneurial knowledge, skills, attitudes and values through their programs.

There is a quote by Albert Bandura, “In order to succeed, people need a sense of self-efficacy, to struggle together with resilience to meet the inevitable obstacles and inequities of life.”
Self-efficacy, or self-confidence, in a given domain, is based on individuals’ self perceptions of their skills and abilities (Wilson. F, et al, 2007). This concept reflects an individual’s innermost thoughts on whether they have the abilities perceived as important to task performance, as well as belief that they will be able to effectively convert those skills

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