Locus of control has been a major topic of study within psychology since the 1950s. Researchers have found that people with an internal locus of control tend to praise or blame themselves for success or failure, rather than assigning responsibility to things outside their influence. A student with a strong internal locus of control, for instance, will attribute good grades to hard work, rather than natural smarts. A salesman with an internal locus of control will blame a lost sale on his own lack of hustle, rather than bad fortune.
This assumes an individualistic mindset. In such a setting for locus of blame for failure and success falls to the individual to process. Whereas, collectivist setting the onus responsibility falls to the group, often providing better outcomes and less detrimental effects of failure. So, one must ask themselves whether This largely individualistic concept is, indeed, helpful especially in times of failure.