On Entrepreneurial Self Efficacy and Entrepreneurial Success: A Conceptual and Theoretical Framework

Abstract

This paper presents both conceptual and theoretical framework on entrepreneurial self efficacy with a conclusion that entrepreneurial self efficacy is a good predictor of entrepreneurial intention (venture start up self efficacy) and a robust predictor of business performance (venture growth self efficacy). In this paper entrepreneurial self efficacy refers to subjective self belief of an entrepreneur expressed in terms of optimism to start an enterprise and overconfidence to run it successfully. In conclusion, the paper proposes a modification to the New General Self Efficacy (NGSE) scale to measure entrepreneurial success. Keywords: Self efficacy, optimism, overconfidence, New General Scale