THE IMPORTANCE OF STUDYING ECONOMICS OF CO-OPERATIVE BUSINESS ENTERPRISES AS A QUALIFYING SUBJECT FOR THE AWARD OF OND IN CO-OPERATIVE ECONOMIC AND MANAGEMENT
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THE IMPORTANCE OF STUDYING ECONOMICS OF CO-OPERATIVE BUSINESS ENTERPRISES AS A QUALIFYING SUBJECT
FOR THE AWARD OF OND IN CO-OPERATIVE ECONOMIC AND MANAGEMENT
TABLE
OF CONTENTS
CHAPTER ONE
1.0
Introduction
1.1
Background of the study
1.2
Statement of problems
1.3
Objectives of the study
1.4
The significances of the study
1.5
Scope and limitation of the study
1.6
Definition of terms
Reference
CHAPTER TWO
2.0
Review of Related literature
2.1
Nature and meaning of co-operative
2.2
Business Enterprises
2.3
Activities of co-operative Business Enterprises
2.4
Management of co-operative
2.5
Business Enterprises
2.6
The Necessity of Economics of co-operative
2.7
For Ordinary National Diploma
Reference
CHAPTER THREE
3.0
Research Design and methodology
3.1
Research Design and Population
3.2
Sources of Data
3.3
Method of Investigation
CHAPTER FOUR
Summary of findings, Recommendation and
Conclusion
4.0
Summary of findings
4.1
Recommendations
4.2
Conclusion
CHAPTER ONE
1.0
INTRODUCTION
A
co-operative society is an association of persons who have voluntary joined
together to achieve a common end through the formation of a democratically
controlled organization making equitable contributions to the capital required
and accepting a fair share of the risks and benefits of the undertaking in
which the members actively participate (L.L.O 1960).
The term co-operative is often used to mean the activities of a specific form
of organization, that is any form of persons working together to achieve some
aim or aims on a formal basis.
A co-operative is always determined by four elements and these are:
i
A group of persons with at least one economic interest in common.
ii
The self-help motivation, that is, the aim of the group which is to meet
the common need of
members by joint action based on mutual
assistance.
iii
The means to achieve this aim which is to establish a common
enterprise.
iv
The main objectives of this co-operative enterprise is to perform
services . The
promotion of the economic interest of the members.
The attitude of
people students and the society in general especially the ignorant ones towards
co-operative society today is not encouraging and this has prompted the
researcher to carry out study on the importance of studying the course by
students so that they may contribute to the knowledge of co-operative after
their stay on school and to make known to the outside world the impact of
co-operative societies.
1.1
BACKGROUND OF THE STUDY
The first successful co-operative society is caused the Rochadale society of
equitable pioneers was established in Rochdale an industrial town close to
Manchester. The Friendly Societies Act registered the society on October, 28th
1844.
This co-operative society originated from discontent with the adulteration of
goods, false weights and measures and high prices prevailing on retail
distribution among workers living on or near subsistence level owing to their
bargaining power, living on or near subsistence level (Bob lgwe 1993:2) owing
to their weak bargaining power in the labour market. The consumer co –operative
movement on the true sense was the off-spring of a marriage between the wage
camers need of an immediate rise in their standard of living and the aspiration
towards a better social order based on the teachings of Robert Owen, Dr Willian
king and other social philosophers and pioneers of 18th and 19th
century England.
This society started with just twenty eight workers who set out themselves to
conquer the world by faith and sheer determination. Much work which led to the
success of the first co-operative in Rochale was done by these committed
members who believed on mutual help. They were guarded by terms and principles
which they knew were going to help them and so in 1852, the industrial and
provident societies Act law was passed by the British parliament. But today, we
have many co-operative shops and societies in existence.
1.2
STSTEMENT OF PROBLEMS
There
have been concented effort by government and some philanthropists to enhance
the knowledge and establishment of co-operative colleges and enterprises are
aimed at making its existence known and probably for it to be patronized and
identified with, inspite of all nthese efforts being made, the co-operative
societies still existence low level of patronage and membership and this is
caused by probably low level of education and training. There is general laxity
amongst members who believe that the co-operative business is no business.
Since profits is not shared and non-members enjoy equal benefits with members
and they stand to lose nothing in the members business running at a loss while
the members bear the risks alone.
When then are the causes of this non-challant attitude of members and
non-members towards the co-operative society and what are the importance of the
business to the society? What benefit is the society to it’s members?
1.3
OBJECTIVE OF THE STUDY
Since
the co-operative society or enterprise can be said to be business organization,
it has done much impact to the world of business on the society today and so
its importance cannot be over emphasized. Based on the problems stated above,
the objectives of this research shall be,
1
To find out the importance of co-operative business enterprises
2
To find out the roles of co-operative business enterprises
3
To find out the impact of effect it has.
1.4
SIGNIFICANCE OF THE STUDY
The
research is important to both the student and members of co-operative business
enterprises because it encourages growth and diversification, provided for the
best us of human beings and stimulates creativity.
This research will be one of the things the researcher will fulfil before the
award of Ordinary National Diploma. It will also serve as a reference for
further researcher to know more about the topic finally through the knowledge
obtained from the research, the researcher will understand the principles and
methods of the co-operative business enterprises and so be in a position to
impact the knowledge on to people for the progress of the nation.
TO CO-OPERATIVE
SOCIETY MEMBERS
This research work is of a good significance to them because it brings to their
knowledge the benefits and importance of co-operative business enterprise.
Among these are: -
1
It enables a member to have the spirit of oneness in whatever they do.
2
It brings to their knowledge the benefits of bulk buying which
increases patronage refund.
3
Better services and value for money are gotten from being a member since a
member is a customer and at the same time a shareholder.
4
A number enjoys low concession and exemption since they are involved on
promotion and non-profit.
5
A member is given loan if he wants in a credit society.
1.6
DEFINITON OF TERMS
Principles: This is a general
law determining the existence and distinguishing it from other systems.
Co-operator: This is a person
that has accepted the terms and principles of co-operatives and so has decided
to join the co-operatives as a member sharing in all its profits and losses.
Democratic Management: This means that the
co-operative is an organization that should be handled or the principle of one
member one vote and must enjoy independence and autonomy.
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