an alternative Explanation from Social Cognitive Theory
In this article we seek to extend previous work on control by developing a theoretical framework for understanding the role of control in entrepreneurship. We explore power-control theory as a tool for understanding the risk-related behaviours among entrepreneurs. Self-efficacy has long been used as a proxy for entrepreneurial intentions. However, little research has attempted to establish the underlying mechanisms that produce or inhibit the development of self-efficacy. Social cognitive theory links self-efficacy to the exercise of personal control. Extending these findings to entrepreneurship and drawing on Power-Control Theory, we suggest that women’s general failure to grow their businesses has intrinsic origins and may be related to a high need for being in control which again depends on a) a low risk preference and b) a low level of self-efficacy. We propose that this may be a result of socialization in the family, and in particular to patriarchal dominance. Taking our departure from the critical realist approach, we propose a research framework for understanding the role of control and self-efficacy in determining entrepreneurial growth.
self-efficacy; growth; control; risk
Main Research Area:
Sustainable futures: enterprising landscapes and communities, 2011