1 An exploratory study of impact of self efficacy on managerial effectiveness with special reference to aspiring managers at PG level ------------------------------------------------------------------------------------ Dr. Jyoti Sharma Ms. Anjali Patel Ms. Soumi Banerjee Mr. Lokendra Ankaley Associate Professor Student Student Student Management MBA (MS) 5 Yrs. MBA (MS) 2 Yrs. MBA (MS) 5 Yrs International Institute of Professional Studies Devi Ahiliya University Indore- M.P. INTRODUCTION The purpose of present research is to study the impact of Self-Efficacy on Managerial Effectiveness with special reference to aspiring managers at PG level. Self-Efficacy The concept of self-efficacy lies at the center of psychologist Albert Bandura's social cognitive theory. Bandura's theory emphasizes the role of observational learning, social experience, and reciprocal determinism in the development of personality. According to Bandura, a person's attitudes, abilities, and cognitive skills comprise what is known as the self-system. This system plays a major role in how one perceives situations and how one behaves in response to different situations. Self-efficacy plays an essential part of this self- system. Self-efficacy is person's belief in his own ability that he can be successful in a particular situation. Bandura said that this belief determines how people feel, think and behave (1994-95). The Role of Self-Efficacy All people can identify the goals, which they want to achieve, and things they would like to change. But most people think that implementation of these plans is not simple. Bandura found that self-efficacy plays a major role how goals, tasks and challenges can be approached. People with a strong sense of self-efficacy:  View challenging problems as tasks to be mastered.  Develop deeper interest in the activities in which they participate.  Form a stronger sense of commitment to their interests and activities.  Recover quickly from setbacks and disappointments.