Personality Traits, Mentoring and Effectual Logic of Entrepreneurial Self-Efficacy: Implications on Potential Entrepreneurs

Abstract

The intent of this study is to address the role of personality traits, mentoring and the effectual logic of entrepreneurial self-efficacy of potential entrepreneurs. In many research on the psychology of the potential entrepreneurs found that personality traits from the big five personality system namely Openness to experience, Conscientiousness, Extroversion, Agreeableness and Neuroticism and generalized self-efficacy individual belief to perform in every situations. In search of role of mentoring, personality traits on entrepreneurial self-efficacy. Entrepreneurial self-efficacy is defined as the strength of the individual’s belief that he or she capable of successfully performing any task of the entrepreneurship. Entrepreneurial Self efficacy consist of five dimensions namely marketing, innovation, finance-control, management, risk taking. Here we conduct a study on the potential entrepreneurs- students those are being trained and have shown their interest in perusing entrepreneurship. We found that potential entrepreneurs have high self-efficacy in marketing, management and financial control. It was also found that if we identified potential entrepreneurs, resources can be channeled and more effectively. This study investigated the relationships of personality traits, mentoring, and effectual logic on entrepreneurial self-efficacy as established in the past researches. The study uses purposive sampling. The data used is both primary and secondary. The primary data has been collected from 57 entrepreneurial students across Agra region. For collecting primary data used self-constructed questionnaire which has been tested for reliability and validity using principal components analysis and content validity check by the experts. The qualitative data from 25 respondents has also been collected using interview method. The correlation and regression analysis has been used. The findings of the quantitate data suggest that personality traits are positively related to entrepreneurial self-efficacy but around there is no relationship among mentoring and entrepreneurial self-efficacy. It is affected by the factors like the type, size of class, mentor and duration of mentoring session and the liberty they get by the mentors. Here, the problems posed by the current competitive situations which affect the start-up businesses. A significant relationship was found between effectual logic and entrepreneurial self-efficacy.