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THE
ACTIVITIES OF I.M.T MULITI-PURPOSE CO-OPREATIVE SOCIETY LTD ENUGU
(FROM
1995 – 2004)A CASE STUDY OF I.M.T ENUGU
MULTI-
PURPOSE CO—OPERATIVE SOCIETY LIMITED I.M.T ENUGU
ABSTRACT
To achieve this the researcher under
took the project work by making a case study of IMT multi-purpose
co-operative society and individuals with sound knowledge of co-operative for
the purpose of getting relevant primary and secondary data tat will be helpful
in the research analysis.
The primary data are in the from of face to face interview with some
students of IMT Enugu especially students of co-operative Economics and
management and individual making up the suppressed of the study.
Review of conceptual and actual research was done on past works of many author
published reports, news papers and Journals. The data collected were analyses
by writing a general background of multi-purpose co-operative society and
their performance.
In view of the finding it was recommended amo0ng other thing that the
achievements could be divided into past and present which include
achievements created by the head of department co-operative ,
Economics and management department in general.
Co-operation is an interesting area of study . it teaches how the common
people (consumers Employers, farmers, tenants, students and
Artisans) can go into business successfully not for profit, but for service to
themselves and by so doing eliminate for their live the daily
exploitation which they suffer at the hands of profiteering middle men.
Anything done outside without co-operation breeds corruption exploitation
of man by man bad business practice using stiff completion and ruthless
pursuit for the markets and the likes.
TABLE OF CONTENTS
CHAPTER ONE
1.0
INTRODUCTION
1.1
BACHGRUND OF THE STUDY
1.2
OBTECTIVE OF THE STUDY
1.3
SIGNIFICANCE
1.4
SCOPE AND LIMITATION OF THE STUDY
1.5
DEFINITION OF TERMS
CHAPTER TWO
2.0
REVIEW OF RELATED LITERATURE
2.1
HISTORICAL BACKGROUND OF I.M.T ENUGU MULTI-PURPOSE CO-OPERATIVE SOCIETY
2.2
ORGANISATION OF I.M.T 9ENUGU) MULTI PURPOSE CO-OPERATIVE SOCIETY LIMITED
CHAPTER
THREE
3.0
RESEARCH DESIGN AND METHODOLOGY
3.1
POPULATION
3.2
METHOD OF INVESTIGATION
3.3
MEMBERSHIP OF THE SOCIETY
3.4
OBJECTIVES OF THE SOCIETY
3.5
ECONOMIC ACTIVITIES UNDERTAKEN BY THE SOCIETY
3.6
ACTITTIES OF I.M.T ENUGU MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED.
CHAPTER FOUR
4.0
PRESENTATION ANALYSIS AND INTERPRETATION OF DATA
4.1
PRESENTATION OF DATA
4.2
ANALYSIS OF DATA
4.3
INTERPRETATION OF DATA
CHAPTER FIVE
5.0
SUMMARY OF FINDING RECOMMENDATION AND CONCLUSIONS
5.1
SUMMARY OF FINDINGS
5.2
RECOMMENDATIONS
5.3
CONCLUSION
BIBLIOGRAPHY
APPENDIX
CHAPTER
ONE
1.0
INTRODUCATION
A co-operative society is a voluntary
association of people formed to improve their economic status. In a
co-operative society membership is not obligatory people join at their own will
they are free and independent. A co-operative society can them be
defined as an association of persons who off their own free will join
together to solve their common and collective economic needs
through mutual help enterprise.
There are other definitions of the international labour organization
defines it as an association of person who have voluntarily joined together to
achieve a common goal through the formation of a democratically
controlled organization making equitable contributions to the
capital required and accepting a fair share of the risks and
actively participate. It must be emphasized that a
co-operative society is a business organization and is recognized as
such in the world over. In Economics and commerce the
co-operative society is a business forms of business organization.
The above definition shows that for a co-operative to exist:-
1.
There must be groups of persons with a common need and with variable
membership.
2.
The objective of the group must be to promote the economic interests of
its members.
3.
Return to capital must be limited
1.1
BACKGROUND OF THE STUDY
The saying “necessity is the mother of invention.
This is very true in the sense that the
co-operative was an invention of necessity.
The co-operative can be traced back to
the stone age where people co-operated with one another in order to achieve
easier objective but academically the modern day co-operation could be regarded
as an advent of necessity originated in create Britain in the early 19th
century as a result of the evil deeds of the industrial revolution
which entire England people in that nation were in bad economic fortune
which needed urgent solution. The capitalists were exploiting the working
class who were below subsistence level the workers sanitary condition was
pitiable.
Some critics began to criticize the evils of capitalism and to
the government to do something to better the living
conditions of the working class.
The most vocal of these critics
was Mr. Robert Owen, who himself was a factory owner. It was
Mr Robert Owen who suggested the formation of co-operatives as a check to
capitalism and its attendant vices. He formed co-operative
committees or villages of co-operatives between 1825 and 1827, four of
such co-operatives
Were formed by Robert Owen but
unfortunately they were not successful stories.
Neither less their impact was felt and they arouse into the interest in people
to from co-operatives in the future which eventually met with
success.
This is the reason why Robert
Owen is known all over the world as the father of
co-operative. The year 1844 is a very important one in the
co-operative history. In August of that same year a
small village of Rochdale , the first successful co-operative society that
was launched was owned by 28 weavers. These 28 weavers are know in
co-operative society history as the Rochdale Equitable pioneers
because their successful co-operative society was launched in the
village of Rochdale, England.
The above description is a brief study of the origin of co-operative in
the world over. Now let us see briefly how co-operative society
originated in Nigeria co-operative. Nigeria is above five decade
old. The British co-operation having introduced co-operation
wanted to do the same in Nigeria. The Nigeria
government in 1933 appointed Mr. F.C strickland to make the
feasibility study of the adaptability of co-operation in
Nigeria. His report was accepted by the government and in 1935, the
Nigeria co-operative society ordinance was enacted and in the following year
1936 regulation were drawn up to guide the running of co-operative
society. In the same year cocoa co-operative society started and by 1944,there
were a hundred and eight-one (181) co-operative societies in Nigeria which were
gotten form the one ministry of works, commerce and industry.
1.2
OBJECTIVE OF THE STUDY
The reason for undertaking this case study cannot be overemphasized. I
stand to gain a let form this study so are the numerous student of
co-operative Economic and management.
However the greater benefactors will be the members of
the IMT multi-purpose co-operative society limited which will find
this case study as a valuable candid study that will expose their
society.
This case study will expose me to the practical aspect of writing and making a
case study of a gives subject.
The most important reason for undertaking this case study is to bring the
IMT multi-purpose co-operative society limited under study. Their
operational strength will be studied their weakness be looked into
and how to correct them recommended. This study aims at x –raying
their operational efficiency and their usefulness and impact in the
society in general will also be checked to see if the objects
usefulness economic reliability shortcomings and relevance in this
modern time.
No person can doubt the usefulness of forming co-operatives to
achieve a particular and specified goal but mistakably a lot of
co-operatives were declared insolvent . this is not because they
are not a reliable ventures for this time. It is because of bad
management and this is why this case study of IMT multi-purpose co-operative
society limited is of great importance as to look into the
management of this co-operative.
1.3
SIGNIFICANCE OF THE STUDY
This study aims to x-ray the importance of co-operatives in
this modern society whenever there is a co-operative
society their social and economic importance are felt by the
community.
As the co-operative are the association of people with common interest it is
believe that the IMT Enugu multi-purpose co-operative society
limited as the secretary of the society Mr.C. Nkeanyadi have
lamented that it is helpful to the members to get their goods and
services from the other areas at a minimum cost the performances of IMT Enugu
multi-purpose co-operative society limited have been the topic of most
discussion seminars symposia and conferences in recent past.
I hope to contribute my I deals through this study and also help enlighten
co-operators and he public on the performance of the
multi-purpose co-operative society limited in IMT.
1.5
DEFINITION OF TERMS
BULK PURCHASE:
This involves buying things in
large quantities co-operators;
These are member of co-operatives
Co-operative inspectors:
These are audit co-operative societies
both at primary and secondary levels.
Consumer co-operative society:
This is a business organization of
consumers who pool their resources together to purchase consumer goods on
wholesale basis store and result them to their members non-members at the
prevailing market prices
Multi – purpose co-operative:
These are the co-operative that deals
in more than one particular activity
Orientation:
This determines how one stands in
relation to ones surrounding
Patronage rebate:
This is a refund made to co-operative
members as regards the purchases they made
Surplus:
Amount of money gained in the
co-operative society by their members.
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