Locus of Control and Its Effect on Entrepreneurial Development among Final Year Students of College of Business & Economics

Abstract

The aim of this study was to investigate locus of control and its effect on entrepreneurial development of students of College of Business and Economics. The total population of the study was 955 final year undergraduate students and the required data, extracted from 237 questionnaires, were analyzed through SPSS version 21. Proportional stratified sampling was used to select the sample respondents. One of the objectives of this study was investigating the level of locus of control of final year students. The finding indicated that all the items of locus of control were beyond the cutoff points. This implies that many of the behaviors of the students were in the internal perceived locus of control (M=3.5585). This is to mean that everything has carried out under own control rather than created by chance and opportunities. In addition, the mean score of entrepreneurial development was 3.4, which was far from the minimum cutoff points (2.5). This implies that students are exhibiting somehow good entrepreneurial development. The Pearsons correlation analysis notified that internal locus of control has a significant relationship with entrepreneurship development (r=. 389, p<. 05) and its external locus of control also shows a significant relationship between the two variables at r=.292, p><0.05). The developed hypothesizes was also tested by using regression analysis and its result revealed that internal locus of control has statistically significant effect with students’ entrepreneurial development (β=0.355, t=6.039, p><0.001) and its external locus of control has a positive and significant effect with entrepreneurial development (β=242, t=4.114,p><.05)