The pursuit of a meaningful and purposeful existence has consistently been a universal human aspiration, even in the field of business. Individuals seek significance in every endeavour they undertake. In line with this notion, the Shrimad Bhagavad Gita (SBG) directs individuals towards the path of truth and purpose. The present study attempts to examine the effect of SBG-identified variable entitled as ‘Theory of Work’ or ‘Karma’ (consisting of no desire for fruit (NDF), non-attachment (NA), deterministic intellect (DI), righteous duty (RD), success and failure as equal (SAF)) on self-efficacy (SE) among teachers in higher educational institutions (HEI) in India. It also aims to find the association between SE and goal performance and leadership effectiveness among the teachers of HEI. A judgemental sampling procedure was adopted to collect the data from HEI clustered across five different zones in the country. A total of 600 responses were collected through an online-administered questionnaire. The analysis results indicated that theory of work variables (i.e., NDF, DI, NA and RD) have a significant positive effect on SE, and SE positively affects the goal performance and leadership effectiveness. However, treating SAF as equal variables was not found to have a significant effect on SE.