The Impact Of Co-Operative To Overall Well Being Of Industrial Employees (A Case Study Of Anammco Multi-Purpose Co-Operative Society)
This research is on appraisal of the impact of co-operatives to overall well-being of industrial employees. A case study of ANAMMCO multi-purpose co-operatives society. In other words, it is designed to find out how the existence of co-operative society has been of economic benefit to industrial workers at ANAMMCO in Emene, Enugu.
Primary and secondary data for the study were collected and analyzed using oral interview, structured questionnaire and presented in tables using percentages.
Analysis of data collected revealed that ANAMMCO multi-purpose co-operative society has been of great benefits to it’s members. Through the co-operative, members obtain loans at low interest rates to meet up with their needs, buy goods at cheaper prices from the bulk purchase made by the association, save part of their income through the association, have a share in the profits generated by the co-operatives and get necessary encouragement in other self- help projects.
Management do not interfere with the activities of the co-operative society. It however, suggested that proper education training should be given to members and non-members by the appropriate authorities. This will help to create necessary awareness, and ensure the contained existence of the co-operative with the attraction of more members.
Table Of Contents
- Title page
- Table of content
- 1.1 Background of the study
- 1.2 Statement of problem
- 1.3 Objective of the study
- 1.4 Statement of hypothesis
- 1.5 Significance of the study
- 1.6 Scope of the study
- 1.7 Limitation of the study
- 1.8 Definition of terms
2.0 Review of Related Literature
- 2.1 The meaning of co-operative society
- 2.2 History of the first co-operatives society
- 2.3 Objectives and plans of this society (Rochdale Equitable pioneers)
- 2.4 The principles of this society (Rochdale pioneers)
- 2.5 Co-operative values
- 2.6 Historical background of workers co-operative movement in Nigeria
- 2.7 Types of co-operatives
- 2.8 Economic social and other benefits of cooperative society
- 2.9 Historical background of ANAMMCO EMENE, ENUGU
3.0 Research Design and Methodology
- 3.1 Research design
- 3.2 population of study
- 3.3 Sample size
- 3.4 Method of data collection
- 3.5 Methods of data analysis
4.0 Data Presentation and Analysis
- 4.1 Data Presentation
- 4.2 Data Analysis
- 4.3 Test of hypothesis
5.0 Summary, Recommendations and Conclusion
- 5.1 Summary
- 5.2 Recommendation
- 5.3 Conclusion
1.1 Background Of The Study
The modern co-operative movement being in England during the first part of the 19th century. There were many years of experimentation, and many failed attempts, before successful cooperative was established. The turning point came in 1844, when the first successful cooperative called the Rochdale society of equitable pioneer, was established in Rochdale City, an individual town close to Manchester.
Okonkwo (1989,6) describe the cooperatives movement as “an invention of necessity originating from the evils of the industrial revolution” the device exploited by the suffering working classes of the industrial revolution to alleviate their pitiable condition.
It is a fact that the Rochdale Pioneers organized their society in the day of the industrial Revolution 1750 – 1850, when factory owners or capitalists exploited workers bitterly in order to maximize profits. Workers retaliated with violence and strikes. Unemployment was high life-wages were extremely low, often below subsistence level.
Wages were so low that child labour was common, children working to supplement the income of their parents. Workers had to survive on a weekly wage of six pence. Skilled workers may be paid two shilling a week. Life was hard that the decade become known as “the Hungry Forties”.
During this Hungry 40’s shop keepers on their own part make profits through adulteration of goods they sold.
Workers hired in over crowded shanties under the most in sanitary conditions. They worked for more than (12) hours a day in ill-ventilated factory buildings design to look like prison houses and under conditions they were close to slave labour.
The anti-social effect of the industrial revolution resulted in widespread poverty and destitution described as “Pauperism”. With many depending on charity, while others died of malnutrition diseases and starvation.
In this respect, notable people like Robert Owen in England, William King, Charles Fouries, Lonis Blan both of France and Ernest Bader. These were the great Pioneers of industrial cooperatives in the world. Most of them were factory owners who formed at capitalism turn their factories into co-operative organization to enhance the quality and working relationship of both the employers and employees.
Industrial employees were most at times converted in to co-operative members and asked establish cooperative communities to fine together, work together share together, and help one another.
The aim of these great pioneers was to totally eliminate the exploitation of the workers by owners of capital and to permit the workers to reap fully the fruits of his or their labour.
That is why co-operatives are reap fully the fruit of his or their labour.
That is why co-operatives are regarded as a weapon to fight capitalism diversify the economy of a nation.
All over the world workers are known to have had long history of exploitation. From their employers and the business as community, under the capitalistic society, as the saying have it that necessity is the mother of invention workers then with the motivation of some social reformers.
Notable Robert Owen (1771-1858) and Dr william king (1786-1865) had no choice other than to co-operate in order to protect themselves, therefore, co-operative society can be regarded as the weapon to oppress an economic system.
In the above basis, co-operative movement was inspired by the following deals which include self help, self reliance, self independence, eliminates of exploitative middlemen. Equality, fairness service, justice and equity or economic relations. Onuoha (1986).
1.2 Statement Of Problem
Workers in a typical industrial company are often required to carryout routinized work for a long period.
With the aim of achieving a certain production target everyday. The workers salary are often not regular and some of them may have no other alternative other than to seek for services of extortionist money lenders at cut the root rate of interest just to make ends meet.
Also the relationship between the workers and the management is more or less official with little or no room for other personals of the workers. The employees of such an organization have no choice other than
funding a means for better interaction among themselves.
In this light, it is believed that ANAMMCO being an industrial establishment/manufacturing company the employees must be facing similar problems as portrayed above, if so then they must be contributing significantly to the economic well-being of its members.
1.3 Objective Of The Study
The main objective of this research work is to critically analyze the impact of co-operative to over all well-being of industrial employees. A case study of ANAMMCO, multi-purpose cooperative society.
The specific objectives are to find out
- If ANAMMCO employees in line with other similar establishments operate any kind of co-operatives
- The objective of such co-operative society
- The existence of such association in the establishment (ANAMMCO).
1.4 Statement Of Hypothesis
As a guiding principle to achieve the aims already stated, and basis for empirical judgment to establish that action is not without purpose, it becomes imperative to have hypothetical statement which is to accept or reject at the conclusion, of this research.
- Ho! The impact of cooperative to over all well being of industrial employees is not recognized in the industry.
Hi, The impact of cooperative to over all well- being of industrial employees is recognized in the industry
- Ho! The actions of cooperative societies influence industrial employees Negatively.
Hi! The actions of cooperatives societies influence industrial employees positively.
- Ho! Adequate training is of no use to industrial employees.
Hi! Adequate training is very useful to the industrial employees.
1.6 Significance Of The Study
A co-operative is a voluntary organization formed primarily to serve the interest of members. This interest is usually economic and in addition at times, social in the first instance, people must be socially linked by circumstance, such as same work place which makes it a fertile ground for group formation to thrive.
Our interest is to examine how the existences of multi-purpose co-operative in the company contribute to the economic well being of their members. The findings of this research work believed, will be a useful guide to the employees of other companies, who are contemplating forming an organizational stand to benefit from the findings.
1.7 Scope Of The Study
The broad topic of this project is on the impact of co-operative society to the over all well- being of industrial employees, the main focus however is on ANAMMCO multi- purpose co-operative society.
As multi-purpose co-operative society” by definition involve engagement in more than one activities engaged by the ANAMMCO multi cover all the activities engaged by the ANAMMCO multi-purpose co-operative society.
1.8 Limitation Of The Study
Research work by its nature requires finance in other words, money is required to gather relevant reference materials, type the completed works as well as to meet – up with other contingencies. As a student the required amount, may be hard to come by.
Another limiting factor is likely to be time. Time is very essential in any research work. The more the project, the more likely some vital information could be left out, because of the rush to meet up with the time schedule.
The third and perhaps the major limitation is the attitude of the respondents workers especially those working in a big company such as ANAMMCO, from the work ethics are not always free with information.
In other words, it may not be easy to elicit the necessary information from the members of the society, especially within the work environment.
All these factors have been taken into full consideration there possible negative effects not with standing, the research would be dutifully carried out to meet up with required standards.
1.9 Definition Of Terms
The definitions of some of the basic terms as used in the text are as follows.
A Co-Operative Society:
This is an association of person who have voluntarily joined together to achieve a common end though the formation of a democratically controlled organization, making contribution to the capital controlling organization, making contribution to the capital required and accepting a fair share of the risk and benefits of the undertaking in member actively participate.
Economic Well Being:
This means those benefit that help to improve the welfare and standard of living of individual members.
These are workers employed and working in a particular company.
Is the production of goods and services for house needs and or industrial needs they make use of factors of production such as land, labour, capital and management.
Anambra State motor manufacturing company. It is joint ventures between federal government of Nigeria and Daimler Benz Zone Ag/Mercedes of Germany.
This means common association of persons for common benefits.
Equitable Distribution Of Surpluses:
This means that the economic end result arising out or the operations of a society belong to the members of that society and shall be distributed in such a manner as would avoid one member gaining at the expense of the rest.
Each For All:
This is the condition that obtained in any genuine co-operative, which means the desire to seek freedom and salvation not for oneself alone, but for others.
All For Each:
This is the desire by all to seek salvation for each member of the group and for all the members of the same group.
Multi-Purpose Co-Operative Society:
The term multi-purpose denotes that the society is legally qualified to carry on more than one function (business activity).
The small town where co-operative was found.
This has been defined as “the sense of actions and endeavors of a body of persons for a specific objective i.e. the pursuit of an ideal.
5.0 Summary, Recommendation and Conclusion
The Summary of this research work has demonstrated the numerous advantages of ANAMMCO multi-purpose co-operative society in Emene Enugu. It also based on the impact of cooperative to overall well being of industrial employees. This project work has shown and discussed the impact which the activities of ANAMMCO multipurpose co-operative society have on the workers of ANAMMCO.
The study also found that management of ANAMMCO do not interfere with the activities of the society rather than encouraged the formation of such an association, as this serves as another avenue of meeting up with the staff welfare, which have the overall effect of increasing workers productivity.
Based on the research findings the researchers here by recommend the followings:
- Proper education training should be organized and intensified by the co-operative movement and ANAMMCO for both members and non-members. This could be in the form of seminars, symposia, enlightment programme and so on. This would on sure the much needed awareness and incentives to retain and attract other members into the society.
- Co-operative members should have the options to have their annual rebate in cash. Profit distribution at any period should be proportionate to the actual business done by members. This will consequently increase the member’s standard of living.
- Qualified training and responsible government auditors should regularly be sent to this society and in deed other such societies at least twice a year to audit and make their reports public. These would enable member’s cross-check and criticize them when necessary. Management of these societies would them be made to sit up in their responsibilities.
- ANAMMCO management should b more supportive to the co-operative society by giving the usual annual bonus to the company works through the co-operative society.
- Any corrupt official of co-operative society should be disciplined, while the dedicated ones should be rewarded in cash by the member of the association this will help the co-operative to grown, and more positive impact of the member.
In conclusion, through the formation of co-operative society workers have been able to help themselves. In other words the workers are able to meet both their economic and social needs through the formation of cooperative society.
The society has been of great benefit to the members. These benefit includes, promoting the economic invest of it’s members ,such as buying goods at cheaper prices form the bulk purchase made by the association .
Encouraging thrift among the members, extending loans at low interest rates to members, encouraging self help projects among members, and other such benefits.
The finding in this study had therefore revealed that cooperative society is indispensable to industrial employees, based on the numerous economic benefits.
The Impact Of Co-Operative To Overall Well Being Of Industrial Employees (A Case Study Of Anammco Multi-Purpose Co-Operative Society)
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