The Impact Of Co-Operative Organization (Multi Purpose) In The Economic Development
This project work is a detailed study of co-operative organization with special attention to their contribution in the economic development of Enugu state.
The major objectives of this study is to the area in which co-operative organization has bettered the lots of the people sustain their economic needs improve their standard of living, alleviate the unemployment problems and to appraise the general impact.
Due to time constraint and other limitations of this study, the research covers the impact of co-operative organization (multi purpose) in Enugu state.
The major findings of this study are as follows:
- Co-operative organization helps in uplifting living standard of the people.
- Co-operative organization involves in the development of the place.
- Co-operative organization helps in controlling inflation.
- The economic life of the people improved by the co-operative organization.
1.1 Background of the Study Co-Operative.
Organization is association where one is free to enter and also independent of itself. It is for the betterment of its members economic condition since the commencement of the co-operative association (society) in the world in 1854 and in Nigeria following the submission of Strickland report on 27 April 1974 co-operative organization has come to be.
Co-operative organizations are not public institutions nor government agencies for the execution of government plans rather co-operative is for the people with common interest as a defense mechanism to fight against the situation brought about by the adverse socio-economic conditions.
Due to the adverse socio-economic conditions presently hitting the nation people cannot get all that they need. Hence the best way they can get reasonable satisfaction of their needs is by coming together to pull their resources so as to solve their economics problems.
Since the commencement of co-operative organization in Enugu metropolis it has to a large extent helped in the economic development of the area. Though, co-operative societies have been seen to have some problems. The problems are not only peculiar to this area alone rather to the nation as a whole. The research study centered on the worst problems that are peculiar to co-operative societies in Enugu metropolis.
1.2 Statement of the Problems
The current Nigeria economic situation calls for hard work this period in the country’s economic development could emerge a turning point in the nations history. The scope of co-operative organization as an active element in the creation of economic development has never been a debate.
That co-operative society with their integrated resources control inflation by increasing food supply and improved distribution channels. Co-operative organization develops both in both agriculture and small-scale business.
Co-operative organization creates employment opportunities hence reducing the unemployment problems facing the country and Enugu in particular. The co-operative societies provide educational services to its members.
Co-operative organization plays an important role in the mobilization of rural savings.
Co-operative organization thus generate equality in the distribution of wealth and ensures that the effect of economic activities alleviate the condition of both rural and urban areas. It is the philosophy of co-operative organization to development the infrastructure both in rural and urban areas.
1.3 Purpose of the Study
The purpose of the study is to know the impact of co-operative organization in the economic development of Enugu metropolis. So as to know how to make their performance effective and achieve their set objectives.
The purpose of the study are as follows:
- To examine the achievement of co-operative organization in Enugu metropolis.
- To find out their problems.
- To know the important of co-operative organization.
- To give the recommendation on how to over come the problems.
1.4 Scope of the Study
For the purpose of this study, the co-operative in the Enugu metropolis is covered only.
1.5 Research Questions
- Has co-operative organization raised the economic well being of the people of Enugu metropolis.
- Has co-operative organization any impact in the economics development of Enugu metropolis.
- Is the loan given to the members increasing with time at the same time with the out put of the members.
- Has co-operative organization helped in uplifting the living standard as a whole?
1.6 Significance of the Study
If co-operative organization will be properly organized and co-ordinate it can be of great importance to the individual and the country as a whole.
Co-operative organization does not only help the individual alone. Rather it makes it possible for the people to pull their resources together and as well make such individuals affairs its own objectives.
The research of the co-operative at the study of the co-operative organization as being important. The research will also encourage and help people to establish co-operative organizations. It can be also a guide to subsequent research work similar to this. Besides the recommendations from this research work, will help improve to a large extent any given co-operative organization. And also get the maximum benefits of co-operative ventures. This should justify the significance/importance of this study.
1.7 Definition of Terms
Of or relating to society and economy.
To become or make ready for service r action the needed resources.
5.0 Discussions, Recommendation and Analysis
5.1 Discussion of Result / Finding
Co-operative organization create employment opportunity in order to reduce the number of unemployment graduates in the community and also help in the provision of educational services to the members.
In controlling inflation co-operative organization increased the supplying of food and improved distribution channel and also help in the transferring of technological know-how in both agricultural sector and in small business.
Despite the huge success of co-operative organization they still have some problems which made them not operate effectively.
- Lack of competent manager also constitute a problem of co-operative organization they do not always employ competent person to manage the affairs.
- Lack of capital: Co-operative organization lacks capital to take care of the financial objectives which affects the performance of the organization.
- Illiteracy since most of the members are not educated they lack under standing and it makes difficult the decision making in the organization.
- Embezzlements: Those managing the affairs of the co-operative organization do embezzle the fund of the organization making the organization to wind up.
From the research findings it was discovered that co-operative organization is really purpose fully designed for the economic development of Nigeria in general and Enugu state in particular.
Hence, there is need to improve the effectiveness of co-operative organization because when this is done it will enhance the living standard of the people and as well as improving of the nation.
Beside some factors are responsible for the success of the co-operative organization.
- The government by the way of rendering assistance either in cash or in kind.
- The people who manage the organization from the right angle so that they get those opportunities at their disposal.
5.3 Implication(s) of the Research Findings.
The research findings have some suggestion that are not openly stated. Those implications are for the economic development of Enugu State if well observed.
Hence, we are to state these implications in this subtitle:
- The co-operative organization helps in creation of job and reduction of unemployment that the state is facing at present. This is made possible by its activities is respect of productivity.
- By the way of supplying of food and distribution channel, the co-operative organization automatically controls inflation in the state.
Beside co-operative organization need to be given the needed managerial support by the following ways:
- Well trained managers should be employed to manage the affairs of the co-operative.
- There should be financial support of the organization by the government in order for the co-operative organization to achieve both financial and economic objectives.
- There should be a well throughout policy that may guide the affairs of the co-operative to avoid embezzlement in the system.
In view of the result of the study and taking cognizance of the vital role the co-operative organization, it properly managed could play in the economic development of the state (Enugu) and the need to result the organization, the following recommendations were:
Co-operative organization should endeavour to organize classes for those of their members who are not educated so that they can help in the decision making and also should be able to read and appreciate the book of the account of the organization. This will go a long way to enhance the efficiency and productivity of the organization.
Co-operative organization should be encouraged financially and this will enable the co-operative organization to achieve both the financial and economic objectives and as well to remain in business for the economic benefit of the state (Enugu).
Co-operative organization should try as much as possible to send the members on courses and organize seminar workshops for them. This will go a long way in boarding the members knowledge in there respective area of work and as well as ease them of certain difficulty, improvement in productivity will experience after such training.
Government should gears its function towards ensuring that the entire co-operative organization fares better. This could be in the form of allocation of resources to minimize the pain of the citizenry and maximize their job.
5.5 Suggestion for Further Research.
- Research should be carried out to discover another means of carrying out feasibility studies.
- Further research is necessary to ensure valid and relevant information for the onward success of the co-operative organization.
- Research is very important as in acquisition of more refined techniques for the productivity of the organization.
- Research is vital for a total turn around of the co-operative organization.
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