The Importance Of Studying Co-Operative Economics And Management

Project and Seminar Material for Cooperative Economics and Management CEM

The Importance Of Studying Co-Operative Economics And Management


Abstract


The broad focus of this study examines the importance of studying cooperative economics and management using Institute of Management and technology (IMT) Enugu as case study. The study adopted a survey research design accompanied with data collated from both primary and secondary sources. With the aid of convenience sampling method, 147 student of (IMT) Enugu was enrolled as participant for the study. A self structured questionnaire was issued to the enrolled respondents of which 141 of the of the instrument were retrieved and validated for the study. Data collated from the field survey was analyzed in simple percentage using frequencies and tables. Findings of the study revealed that Cooperative economics and management course exposes IMT student to knowledge of the cooperate environment, equips IMT student with administrative leadership skills in all sizes of enterprises and enables graduate to achieve more effective and equitable systems of resource management in cooperate world. The study therefore recommends that since most student of cooperative economics and management IMT do not take the course serious, the School management should organize orientation on the glaring career opportunities attached to the study so that anticipating graduates will know what the future holds for them after study the course. More so, the government should try as much as possible to organize from time to time, seminars, workshops and symposium for cooperative economics lecturers on contemporary issues in the field.


Chapter One


Introduction

1.0 Introduction

Co-operative Economics and Management in tertiary institutions help to improve the co-operative growth and development, quality manpower in co-operative. The importance of studying co-operative in schools and tertiary institutions could as well known as co-operative education and is at the heart of co-operative for work motivation, growth, development, commitments in co-operative because is said that once a co-operative is always a co-operative (Jossa2012)..

Despite these, many co-operatives have failed in their respective institutions or organizations because their members indispensitions to the cooperative education or without organizing the importance of cooperative education to members. Cooperative education is an indisputable part of cooperative function.Therefore, I now wish to research for the importance of studying Co-operative Economics and Management in tertiary institutions, the strategics and to suggest few solutions out off the million solutions to the failure of cooperative practices in the institutions or organizations.

I have chosen institute of management and technology (IMT) Enugu as my case study. Furthermore, why education is necessary co-operative. Through the one hundred and 40 years of co-operative history, eminent cooperators have always insisted on the importance of education to the cooperative movement. Robert Owen emphasized, education for citizenship to achievement of a just and moral society.

Rochdale Pioneer followed in his footships. They studied and held discussion for one year before founding their society. In 1884 they amended their statute to provide that 21/2% of their profit should be aside for educational purposes because human resources is very essential to cooperative movement.


1.1 Background of the Study

Prior to the establishment of institute of management and technology Enugu, there existed till 1967 a college of technology up to the ordinary diploma level. An institution of administration which provide short in services training courses for civil servants of various grades and a cooperative college which offered a certificate course in cooperative studies to co-operative aspects from the ministry of industry, trade and cooperative. These institutions were separated and separately located. The college of technology was parts of the ministry of education and was controlled, directed by the ministry.

Similarly, the institution of administration was controlled by the ministry of establishment, while the cooperative college was directly under the ministry of rural development.

These institutions were staff by civil servants who were posted and re-posted from one department to another according to the need of civil service. And after 1970, there came the need for higher institution of learning to upgrade the training in the technological and managerial field in which there were several need for manpower development.

The future graduates in the technology and management and their allied field would be more effective by functional training than the programme they offered by the college of technology and to institute of administrations. To the founding father, their main aim was the maximization of management efficiency and of professional and technical expertise and the acquisition of the additional tool for these.

The close coupling of management and technology in the new objectives was needless and not fruitful. The management and technology of today needs training, education, for effective and efficiency satisfaction and fulfillment of itself and role in the world in which applied science entrails more and more problems of both moral and ecological significance.


1.2 Statement of the Problem

Economics is one of an important subject taught in the tertiary education. It is important to both students and the society at large because it cuts across all spheres of human endeavour as it can be seen in its simpler definition by professor lord Robbins (1975), thus economics as a science which studies human behavior as a relationship between ends and scarce means which have alternative uses. By this definition Robbins emphasized economics as a science and that economic analysis should be based on scientific and logical process rather than vague judgments.

Intriguingly, Co-operative economics is a field of economics that incorporates co-operative studies and political economy toward the study and management of co-operatives hence student who enrolled for this course in higher institution are have glaring career opportunities such as working as analyst, consultant, auditor and grant managers in cooperative organizations or manufacturing industry.

Unfortunately cooperative economics and management have not receive many recognition in most tertiary institution, this is because there are limited professionals (lecturers) who majors on the course. Another reason could be the ignorance on the career opportunities and lack of in-depth orientation for student on the course hence the need to delve into the study in other bring to light the importance of studying cooperative economics and management using Institute of Management and Technology (IMT) Enugu as case study.


1.3 Objective of the Study

Research objectives are just as useful as they are in most other aspects of life. “Research objectives provide the researcher a wonderful feeling of aim and direction,” according to Torty (2021). The study’s overall purpose is to examine the the importance of studying cooperative economics and management using Institute of Management and Technology (IMT) Enugu as case study.

The study, on the other hand, was focused on achieving these precise goals:

  1. To examine weather the study of cooperative economics and management exposes student to knowledge of the cooperate environment.
  2. To determine weather the study of cooperative economics and management enlightens student with administrative leadership skills in all sizes of enterprises.
  3. To ascertain weather the study of cooperative economics and management equips student to understand cooperatives as a model of organization that creates both social and economic value.

1.4 Research Question

Research questions provide structure and direction to a study in scientific inquiry. As a result, according to Torty (2021), “research questions should truly constitute an enlargement of the research problem.”The following research questions were posed in accordance with the study’s objectives:

  1. Does cooperative economics and management course exposes IMT student to knowledge of the cooperate environment?
  2. Does cooperative economics and management equips IMT student with administrative leadership skills in all sizes of enterprises?
  3. Does the course widens IMT Student understanding of cooperatives as a model of organization that creates both social and economic value?
  4. Can the study of cooperative economics and management enable graduate to achieve more effective and equitable systems of resource management in cooperate world?

1.5 Significance of the Study

The findings and recommendation to be made from this study can be of much help to students of cooperative study and Business Administration in general and in other allied fields who may wish to investigate the subject of training and education in any other organization. This study will in no small measure by very useful to the institute since it will help it appreciate more, the need for teaching and learning of cooperative economics and management. It will enlighten student on the career opportunities related to the course and as well encourage them to be more serious with their studies. Moreover, this research work affords an opportunity to undertake a research work for the first time on in-depth study in a field of study of interest.


1.6 Scope of the Study

The scope of this study borders on the importance of studying cooperative economics and management using Institute of Management and technology (IMT) Enugu as case study. Additionally the objective of studying cooperative economics and management in tertiary institutions and as consider the glaring career opportunities that would benegit graduates of cooperative economics and management .


1.7 Limitation of the Study

Like in every human endeavour, the researchers encountered slight constraints while carrying out the study. The significant constraint was the scanty literature and studies on the discourse of of cooperative economics and management. Thus much time and organization was required in sourcing for the relevant materials, literature, or information and in the process of data collection. Also the study is limited in sample size and geography covering only Institute of Management and technology (IMT) Enugu with focus on Business Faculty. Therefore findings of this study cannot be used for generalization to other poly techniques thus creating a gap for further studies.


Chapter Five


Summary, Conclusion and Recommendation

5.1 Summary

The broad focus of this study examines the importance of studying cooperative economics and management using Institute of Management and technology (IMT) Enugu as case study. Specifically the objectives/details of cooperative economics and management was discussed. The study also considered the glaring career opportunities that would benefit graduates of cooperative economics and management .

The study adopted a survey research design accompanied with data collated from both primary and secondary sources. With the aid of convenience sampling method, 147 student of (IMT) Enugu was enrolled as participant for the study. A self structured questionnaire was issued to the enrolled respondents of which 141 of the of the instrument were retrieved and validated for the study. Data collated from the field survey was analyzed in simple percentage using frequencies and tables.


5.2 Conclusion

Cooperative economics is a field of economics that incorporates co-operative studies and political economy towards the study and management of co-operatives. Cooperative Economics and Management as a department and a course taught in IMT Enugu seek to engage, partner with and empower people from all walks of life—particularly those left behind by a shifting economy and facing the greatest economic and societal barriers. It achieves this vision through collaborative partnerships in development, advocacy, public awareness and thought leadership. It tries to achieve more effective and equitable systems of resource management.

From the result of the study, we can conclude that:

  1. Cooperative economics and management course exposes IMT student to knowledge of the cooperate environment.
  2. Cooperative economics and management equips IMT student with administrative leadership skills in all sizes of enterprises.
  3. The course in its entirety widens IMT Student understanding of cooperatives as a model of organization that creates both social and economic value.
  4. The study of cooperative economics and management enables graduate to achieve more effective and equitable systems of resource management in cooperate world.

5.3 Recommendation

Base on the findings of the study, the following recommendations were proffered:

  1. Accredited tertiary institution should create massive awareness on the cooperative economics and management courses in other encourage prospective jambites to enroll on the course.
  2. Since most student of cooperative economics and management IMT do not take the course serious, the School management should organise orientation on the glaring career opportunities attached to the study so that anticipating graduates will know what the future holds for them after study the course.
  3. The government should try as much as possible to organize from time to time, seminars, workshops and symposium for cooperative economics lecturers on contemporary issues in the field.
  4. More emphasis should be laid on cooperative economics and management as an accredited course in not just Polytechnics but Universities and Other Tertiary Institutions.

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