MUSINGS
Linking optimism to reality Is the way to success
What do Walt Disney, Henry Ford and Jack Welch have in common? Well, they all made mistakes and faced setbacks in the initial stages of their career but displayed the resilience to rise above their failures and reach the top. Their perseverance and will to succeed has become legends in the annals of business.
It is not only their ability to overcome their failures that makes them stand apart but also the remarkable spirit they displayed in plodding ahead.
This drive to succeed in spite of setbacks is what psychologists define as the spirit of self-efficacy.
This social cognitive theory propounded by the eminent psychologist Albert Bandura focusses on one’s inner belief in the ability to succeed.
In 1986 Bandura published Social Foundations of Thought and Action: A Social Cognitive Theory, where he says that human actions are influenced by cognitive, vicarious, self-regulatory and self-reflective processes which also influences their actions for adaptation and change.
Self-efficacy theory says that human beings are agents of their own development and can make things happen with their actions.
The key to this theory is the opinion that every individual possesses a set of self-beliefs that controls their thoughts, beliefs and actions to a certain extent. As Bandura says, "What people think, believe, and feel affects how they behave."
This theory of self-efficacy though related to other aspects of positive thinking like self- confidence and self-esteem has more to do with the self-assurance that one can do well at a particular task. People with high levels of self-efficacy do not let failure affect them but learn from their mistakes and plod on to achieve success.
In his book, Self Efficacy: The Exercise of Control, (published in 1997) Bandura further expanded his theory of self-efficacy and defined its applications in fields like education, health, sports coaching, business and even international affairs.
Self-efficacy has important ramifications in business too. In fact Bandura along with Robert Wood of the Australian Graduate School of Management conducted a study in 1980 where they found that self-efficacy was an important factor in the performance of business executives and this trait could be acquired. Successful businessmen display high levels of self-efficacy but their optimism is closely linked to reality.
For companies to be successful self-efficacy should not be confined to its leadership but permaeate down to employees as well. How far can a leader’s belief in his company’s potential to succeed achieve if employees do not display the same level of confidence? For workers to feel equally motivated, it is necessary that their self-efficacy beliefs are tuned to success.
This belief determines an individual’s actions and the choices he makes. Self-efficacy determines the efforts, perseverance and the resilience a person dispalys when faced with failure. These factors are directly proportional to his belief. Individuals who have high confidence in their competence will tackle even difficult tasks as challenges and will be undaunted by failure.
They show deep involvement and commitment to activities and view failures as results of mediocre efforts or lack of skills which they are determined to overcome.
A person tends to do those activities and tasks which he feels confident of accomplishing and avoids those he is not confident of. Moreover he will not do those tasks which show little potential of giving him the desired outcomes.The management should remember this when setting goals and tasks for employees.
It is a critical aspect of motivation, because the efforts a person will put into a task is based on the results he expects.
Employees should be given goals which they are confident of achieving.Once they accomplish a certain set of tasks, their confidence improves and consequently their level of self-efficacy which in turn can prompt the management to set higher goals for them.
Constant feedback combined with success in doing tasks increases their self-confidence and inspires them to put in sustained efforts to achieve organisational and personal goals.
When employees develop a high level of high self-efficacy and are confident that they can succeed, they are willing to try new things and are motivated to perform well. They are willing to take risks and look for opportunities in the most unlikely places. They feel they are in control and believe their ability and efforts will determine their success.
If all employees share the confidence that they can accomplish even difficult goals and have the belief that they can in turn improve their lives, then personal goals collate as collective goals of the team. Teamwork between employees sharing such a belief is highly successful.
As the Roman poet Virgil said, "They are able who think they are able." Individuals with high levels of self-efficacy feel in control of their lives and this determines their actions and decisions and most importantly their attitude to failure.
