THE ROLE OF LOCUST OF CONTROL ON THE START-UP INTENTION OF HIGHER INSTITUTION STUDENTS IN NIGERIA

THE ROLE OF LOCUST OF CONTROL ON THE START-UP INTENTION OF HIGHER INSTITUTION STUDENTS IN NIGERIA

2.1 UNDERSTANDING ENTREPRENEURIAL INTENTION
  The previous research has investigated the various economic and psychological motivations of individuals to seek self-employment (Banmol, 1990, Eisenhover, 1995, Douglas and Shepherd, 2000). The motivation to engage in entrepreneurial behaviour has generally been investigated in terms of entrepreneurial intentions, with intention conceptualized as being a function of beliefs that in turn can lead to subsequent behaviour. In general, the greater the intention, the stronger is the motivation to engage in entrepreneurial behaviour (Ajzen 1991).
Numbers of models have been proposed to explain the relationship between an individual personal characteristics and subsequent intention (for example, Shapero 1982, Ajzen 1987, Bird, 1988). Ajzen theory of planned behaviour (1991) suggests three keys attitude that predict intentions, these being attitudes towards the act, social norms and perceived behavioural control. Krueger and Brazeal (1994) suggest that the perceived behavioural control construct overlaps with the self-efficacy construct of Bandura (1986) and outlined a model of potential entrepreneurship that incorporated entrepreneurial intentions, Basing their model on Ajzen theory of planned behaviour and shapero model of entrepreneurial event (Shapero, 1982). Their model included potential for both enterprise development and corporate ventures and was compressed of three constructs beings :

1. Perceived desirability
2. Perceived feasibility
3. Propensity to act.

The perceived desirability was seen to be related to intrinsic rewards associated with entrepreneurship and includes the attitude towards the act and social norms. (Kreuger and Brazeal (1994). Perceived desirability is related to the motivational factors to engage in entrepreneurial behaviour and can therefore be considered a function of entrepreneurial attitude held by the individuals. Perceived feasibility on the other hands, is related to individual perceptions of their ability to implement the required behaviour Krueger (1993), cites persuasive evidence, that perceived credibility, perceived desirability and prosperity to act explain over half the variance in intentions towards entrepreneurship, with feasibility perceptions being the most influential.
An alternative model of entrepreneurial intentions was proposed by Bird (1988). Based on established theory in cognitive psychology, the model suggest that an individuals entrepreneurial intentions is based on a combination of personal contextual factors, personal factors includes prior experience as an entrepreneur, personal characteristics and abilities while contextual factors consists of social, political and economic variables.
An individual intention is further structured by both rational and analytic thinking (goal-directed behaviour and intuitive or holistic thinking (vision). Boyd and Vozikis (1994) expand on this model to incorporate the perceived behaviourial control aspect of Ajzen theory of planned behaviour through the inclusion of the concept of self-efficacy.
Perceived behaviourial control describes the perceived ease or difficulty of performing behaviour and as pointed out by Ajzen (1991) is closely related to the concept of self-efficacy. They also proposed self-efficacy as an important explanatory variable in determining the strength entrepreneurial intentions and the likelihood that those intentions will result in entrepreneurial actions.
The reversed model of Boyd and Vozikis (1994) based on Bird (1998) model suggest that intentions are a function of self efficacy in addition to attitudes and perceptions regarding the creation of a new venture through rational and intuitive thought processes.

2.2. LOCUS OF CONTROL AND ENTREPRENEURIAL INTENTION
Locus of control is the degree in which the individual believes that the reinforcements are dependent on his behaviour. This individual believes that the accomplishment of goal or purpose depends on his own ability and actions rather than luck or other people efforts (Kuip and verheul, 2003).
The empirical evidence shows that small business entrepreneurs are more oriented at the internal level than population in general (Ket Vries, 1977, Begley and Boyd, 1987, Beverland and Lockshin 2001). Brockhaus (1980) longitudinal study suggests the existence of a positive correlation between orientation to locus of control and entrepreneurial success.
In another study Brockhaus and Horwitz (1986) reinforce that locus of control could distinguish entrepreneurs who are successful from those who are unsuccessful. Robinson et al (1991) state that internal control leads to a positive entrepreneurial attitude and most students who receive entrepreneurial formation may develop a higher level of control and self-efficiency.

THE ROLE OF LOCUST OF CONTROL ON THE START-UP INTENTION OF HIGHER INSTITUTION STUDENTS IN NIGERIA