Locus of Control is the extent to which people believe that they have power over the outcome of events in their lives. There are 2 types of Locus of Control i.e. Internal and External Locus of Control. Internal Locus of Control means that a person considers himself/herself responsible for his/her success or failures. External Locus of Control means that a person considers external factors (such as luck, help from other individuals, etc.) responsible for his/her successes or failures. People who have an Internal Locus of Control are good time managers because life is 10% of what happens to you and 90% of how you react to it.