Full Project – The impact of cooperative society on members welfare

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CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The value of cooperative as an effective channel of transformation is widely recognized in advanced and less developed countries. In Nigeria for instance, government objectives states since 1920, the use of cooperative societies particularly for social economic development. Presently cooperative is almost a universal form of organization found in most countries of the world and used by people in many ways for the supply of farming and fishing equipment, purchase of production equipment etc.

In every organization or industry (sector) cooperative societies are being established to develop and promote economic policy, advance program through informed cooperative ventures. It must be established that cooperative societies are formed to strengthen the relationship and cooperation of its members and promote their social welfare.

Cooperative societies contribute to the social; economic development of any society by improving the standard of living of its members, through employment creations, creation of utilities, granting of credit facilities to members, engaging in portfolio management, education and training, providing housing facilities e.t.c. in addition, they contribute to the gross domestic product (GDP) of any country (Ojo, 2008)

There is the need for formulating fundamental principle of cooperative movement, having regard to its development in different economic system, moreover its human capital development necessitated readjustment of structure of trade and industry by breaking the circle endemic poverty which afflicts its environment and encourage their members to economize their scarce human and natural resources, both in their consumption behavior patterns and in the processes of production, so as to achieve sustainable human development life of its members (Bekios, 1990)

In other words cooperative society can be described as an organization formed for the mutual benefit of a group of people in similar interest.

This research project therefore attempts to examine the impact of cooperative society on member’s welfare with particular reference to Ethiope West Local Government Council, Oghara.

1.2 STATEMENT OF THE PROBLEM

In spite of the efforts of the cooperative society to improve their member’s welfare, they are confronted in with variety of problems which include in adequate capital, effective management disloyalty of members, obnoxious government policies, legislative and control, lack of cooperative willingness of the people, unfavorable prevailing economic conditions, low pre capital formation, public competition between cooperative and private trader, low returns on cooperative ventures, high interest rate making repayment difficult, lack of managerial skill, lack of integrated policy between production and distribution, lack of marketing policy and disregard to cooperative principle e.t.c. are the problems of this study.

1.3 OBJECTIVES OF THE STUDY

The objectives of this study include the following:

To determine the effect of co-operative society on members welfare.
To determine the effect of co-operative society on economic development.

1.4 RESEARCH QUESTIONS

Does co-operative society has effect on member welfare?
Does co-operative society has effect on economic development?

1.5 RESEARCH HYPOTHESIS

HYPOTHESIS ONE

H_O: There is no significant relationship between co-operative society and member welfare.

H₁: There is a significant relationship between co-operative society and member welfare.

HYPOTHESIS TWO:

H_O: There is no significant relationship between co-operative society and economic development.

H₁: There is a significant relationship between co-operative society and economic development.

1.6 SIGNIFICANCE OF THE STUDY

The study is intended to examine the impact of cooperative societies on member welfare. The study will therefore be of immense benefits to some persons, groups and institutions. Some of which are listed below:

Investors: The study will be of valuable assistance to cooperators ho may which to form cooperative ventures by guiding them towards successful operation.

Management: The study will also be of help to management in areas of control, effective management and decision making on cooperative investment and other related matters.

Government: The government will find it useful when formulating policies and strategies to regulate the economic activities and establishment of cooperative banks.

The Public: The study will be of immense benefits to the general public. it will provide a basic frame work for the assessment of the performance of the economy.

Educational Institutions: The study will assist departments and other educational institutions in their centre of development.

Research: The study would be of immense benefits to researchers who might want to use the study as a source of reference in their academic endeavors.

1.7 SCOPE OF THE STUDY

The area of study is based on the impact of cooperative societies in empowering of its member’s towards the improvement and developments of cooperative members satisfaction as a result of being a member of a cooperative society. The area covered includes Mosogar, Jesse, Oghara, Otefe e.t.c.

1.8 LIMITATION OF THE STUDY

The limiting factors and constraints encountered by the researcher includes:

FINANCIAL CONSTRAINTS: Lack of finance hinders the collection of data throughout the federation, hence the scope of the study as limited to Ethiope West Local Government Council, Oghara.
THE UNCOOPERATIVE ATTITUDE: The unfriendly attitude of most staff of the organization in gaining audience is another limitation.
INADEQUATE LIBRARY FACILITIES: Poor or ill furnished library for current statistical and relevant information also possess problem. However in spite of the above constraints the findings of their research remain reliable and consistent.

1.9 DEFINITION OF TERMS

The researcher attempted to define some of the terminologies used in this project report

Members: These are the people admitted in to membership after registration in accordance with the rules and regulation and bye-laws.

Cooperative Society: This is an association of persons ho may have voluntarily joined together to achieve a common and economic end or goal, through democratically controlled organization.

Development: Social advancement arises from the population of goods and population.

Welfare: This is the happiness, health and fortunes of a person or a group.

Growth: Increases in economic output.

G.D.P: Gross Domestic Product.

Policy: A course or principle of action adopted or proposed by government, party, business or individuals.

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Full Project – The impact of cooperative society on members welfare

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Full Project – The impact of cooperative society on members welfare

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