Psychological capital, a unique resource to develop effective managers; relationship with creativity, achievement motivation and stress

Abstract

Psychological capital (PsyCap), a higher order multidimensional human capacity is composed of hope, (self) efficacy, resilience and optimism (HERO). All four constituent constructs have strong theoretical base, valid measures, are non-imitable, and are state-like which makes them open to development. Research over years indicates that PsyCap is a positive predictor of various organizational and individual level positive attitudes, behaviors, and performance measures, and is negatively related to undesired outcome variables. PsyCap is such unique and developable psychological resource, which future managers, must possess in order to survive, excel, and positively contribute in business environment. The study hypothesized that psychological capital is positive predictor of individual creativity, achievement motivation, and negative predictor of perceived stress. Literature indicates these three variables have significant impact on success in professional life, for both traditionally employed and self-employed individuals. To empirically test the hypothesis, data was collected from 165 final year university students enrolled in Information technology and commerce courses. The positive and significant results from path analysis indicated that PsyCap is indeed a substantial predictor of the three constructs as hypothesized. Efforts to develop individual PsyCap at university level and in professional life can considerably guarantee a successful manager in future.