The Survey Of The Factors Affecting The Growth Of Co-Operative Society

Project and Seminar Material for Economics

The Survey Of The Factors Affecting The Growth Of Co-Operative Society


Abstract


This study was carried out to assess the factors affecting the growth of co-operative society using Growers’ Micro Finance Cooperative Society Limited in Enugu State as a case study. The study was carried out to determine the internal factors affecting the growth of co-operative society in Nigeria, determine the governmental factors affecting the growth cooperative societies in Nigeria, and find out the prospects of cooperative societies in Nigeria. The population size comprised of staff of Growers’ Micro Finance Cooperative Society Limited in Enugu State. In determining the sample size, the researcher purposefully selected 160 respondents and 141 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using mean scores. While the hypotheses was tested Chi-square statistical tool. The result of the findings reveals that the internal factors affecting the growth of co-operative society in Nigeria includes: not participating in teamwork, delayed loan repayment by members, ineffective participation in decision making, corruption, power tussle, and poor business orientation. Furthermore the result of the study reveals that the governmental factors affecting the growth cooperative societies in Nigeria includes: political interference, lack of good interaction with government agencies, government negligence, unfavourable governmental policies, and poor business environment. Therefore, it is recommended that the members of cooperative societies in Nigeria should improve on their attendant, teamwork, decision making and general participation in the cooperative activities to maximally possible benefits avail in being members of cooperative societies. To mention but a few.


Table of Content


  • Title Page
  • Certification
  • Dedication
  • Acknowledgement
  • Table of Content
  • List of Tables
  • Abstract

Chapter One:

Introduction

  • 1.1 Background of the Study
  • 1.2 Statement of the Problem
  • 1.3 Objective of the Study
  • 1.4 Research Questions
  • 1.5 Research Hypothesis
  • 1.6 Significance of the Study
  • 1.7 Scope of the Study
  • 1.8 Limitation of the Study
  • 1.9 Definition of Terms
  • 1.10 Organisations of the Study

Chapter Two:

Review of Literature

  • 2.1 Conceptual Framework
  • 2.2 Theoretical Framework
  • 2.3 Empirical Review

Chapter Three:

Research Methodology

  • 3.1 Research Design
  • 3.2 Population of the Study
  • 3.3 Sample Size Determination
  • 3.4 Sample Size Selection Technique and Procedure
  • 3.5 Research Instrument and Administration
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Validity of the Study
  • 3.9 Reliability of the Study
  • 3.10 Ethical Consideration

Chapter Four:

Data Presentation and Analysis

  • 4.1 Data Presentation
  • 4.2 Analysis of Data
  • 4.3 Answering Research Questions
  • 4.4 Test of Hypotheses

Chapter Five:

Summary, Conclusion and Recommendation

  • 5.1 Summary
  • 5.2 Conclusion
  • 5.3 Recommendation
  • References
  • APPENDIX
  • QUESTIONNAIRE

Chapter One


Introduction

1.1 Background to the Study

Modern Co-operatives blossomed out of the need to provide economic salvation to common men who were economically exploited during the heat days of the industrial revolution. This view was strongly supported by Okonkwo (1989) who describes the co-operative movement as an invention of necessity, originated from the evils of the industrial revolution from the device adopted by the suffering working classes of the industrial revolution to alleviate their private condition.
In Nigeria the general term co-operatives existed before the accent of modern co-operatives which have high degree of potency for economic salvation. The form of cooperative which is as traditional as it is reciprocal in operation has the precious intent of solving an existential economic problem of the members who have voluntarily agreed to work together for their welfare.

Onuoha (1998) noticed that in the wildest sense of the world, cooperative means of people working together to achieve a common purpose. As such if it is an old man and that cooperative is the outward expression of the instinctive spirit of human solidarity and brotherhood present in every human being.

Frankly, the agitation for modern and scientific co-operation in the most economic sense as we conceive it today was said to started in England within the first part of the nineteenth century. Within the period that could be tagged the embryonic stage of modern cooperative, very serious struggle by pioneer cooperators lasted woefully. However, Onuoha (1998) observed that Rochdale society of equitable pioneers was the first successful cooperative that was established in 1844. he further observed that the society was registered under the friendly societies Act on October 28, 1844 but the shop did not open for business until December 21, 1844.

In Enugu metropolis, very variable co-operative bank – the co-operative bank of Eastern Nigeria was established to render financial services to it members and the general public. The bank collapsed after it wide growth but one could not determine the cause of the collapse or whether the cause is synonymous to the failure of early co-operative movement.
Similarly, other promising co-operative societies in Enugu metropolis died surprisingly even at a time the widespread is massively expected. The cause of the gradual extinction of cooperatives worried the researcher hence the very good rational for this study. Traditionally, it is known that poor fendors mal-administration and lack of observance of cooperative principles and ideals may have the proper functions of co-operatives.

It is also not known whether the cause of the failure is similar to the cause of failure of manufactors industries as out hired by Donnel (1994).

  1. Finance and lack of money to run the business.
  2. Location, if not situated in a strategic area.
  3. Effect of armed robbers to a growing industries.
  4. Discontinuities in policies and practices.
  5. Government interference in the management of the industries.

In the most interest of truth and good judgment, the above obstacles process the strongest efficiency to pull down the growth mining of any good business.

In this project effort were directed at investigating all those factors that could affect the growth of co-operative society


1.2 Statement of the Problem

The international co-operative Alliance define cooperative as “an autonomous association of persons limited voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.

Co-operative societies have not been a volent introduction in the business sector in Nigeria economy, but to the help rendered by government.

What could be the reason of its failure in Nigeria. Could it be lack of spirit of cooperative expertise or lack of autonomous.


1.3 Objectives of the Study

The overall aim of this study is to critically examine the factors affecting the growth of co-operative society. Hence, the study will be channeled to the following specific objectives;

  1. Determine the internal factors affecting the growth of co-operative society in Nigeria.
  2. Determine the governmental factors affecting the growth cooperative societies in Nigeria.
  3. Find out the prospects of cooperative societies in Nigeria

1.4 Research Question

The study will be guided by the following questions;

  1. What are the internal factors affecting the growth of co-operative society in Nigeria?
  2. What are the governmental factors affecting the growth cooperative societies in Nigeria?
  3. What are the prospects of cooperative societies in Nigeria?

1.5 Research Hypotheses

  • Ho: There are no significant factors affecting the growth of co-operative society in Nigeria.
  • Ha: There are significant factors affecting the growth of co-operative society in Nigeria.

1.6 Significance of the Study

The study of the factors effecting the growth of cooperative societies in this part of the country are dying fast. Regrettably, the efforts of educational institution that hiring co-operatives technicalities and functions have not improved the situation either.

However, it is expected that the result of the findings in this work shall be usefully to the few surviving cooperatives in Enugu urban in how to run co-operative societies effectively and efficiently. The result of the findings of this research shall also be useful to various educational institutions offering co-operative experts on proper management and running of cooperatives.

Finally, this research result shall be useful to government in making good policies concerning the administration of cooperative in Enugu state. All cooperative in Enugu metropolis shall find this work very hardy in guarding against certain obstacles that might improve on the success of their cooperative societies.


1.7 Scope of the Study

This study is structured to generally examine the factors affecting the growth of co-operative society. Hence the study will be delimited to Growers’ Micro Finance Cooperative Society Limited in Enugu State.


1.8 Limitation of the Study

Like in every human endeavour, the researcher encountered slight constraints while carrying out the study. Insufficient funds tend to impede the efficiency of the researcher in sourcing for the relevant materials, literature, or information and in the process of data collection, which is why the researcher resorted to a limited choice of sample size. More so, the researcher simultaneously engaged in this study with other academic work. As a result, the amount of time spent on research will be reduced.

Moreover, the case study method utilized in the study posed some challenges to the investigator including the possibility of biases and poor judgment of issues. However, the investigator relied on respect for the general principles of procedures, justice, fairness, objectivity in observation and recording, and weighing of evidence to overcome the challenges.


1.9 Definition of Terms

Cooperative Society:

A cooperative is “an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned enterprise”. Cooperatives are democratically owned by their members, with each member having one vote in electing the board of directors.


1.10 Organizations of the Study

The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, abnd selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter(chapter five) contains the summary, conclusion and recommendation.


Chapter Five


Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the findings on the factors affecting the growth of co-operative society using Growers’ Micro Finance Cooperative Society Limited in Enugu State as a case study. The chapter consists of summary of the study, conclusions, and recommendations.


5.2 Summary of the Study

In this study, our focus was to assess the factors affecting the growth of co-operative society using Growers’ Micro Finance Cooperative Society Limited in Enugu State as a case study. The study specifically was aimed to determine the internal factors affecting the growth of co-operative society in Nigeria, determine the governmental factors affecting the growth cooperative societies in Nigeria, and find out the prospects of cooperative societies in Nigeria.

The study adopted the survey research design and randomly enrolled participants in the study. A total of 141 responses were validated from the enrolled participants where all respondents are staff of Growers’ Micro Finance Cooperative Society Limited in Enugu State.


5.3 Conclusions

Based on the findings of this study, the researcher made the following conclusion.

  1. The internal factors affecting the growth of co-operative society in Nigeria includes: not participating in teamwork, delayed loan repayment by members, ineffective participation in decision making, corruption, power tussle, and poor business orientation.
  2. The governmental factors affecting the growth cooperative societies in Nigeria includes: political interference, lack of good interaction with government agencies, government negligence, unfavourable governmental policies, and poor business environment.
  3. The prospects of cooperative societies in Nigeria includes: adequate support from the government, creation of secured business environment buy the government, entrenching active participation of members in decision making, and obtaining proper business orientation.

5.4 Recommendations

Based on the findings of the study, the following recommendations are proffered.

  1. The members of cooperative societies in Nigeria should improve on their attendant, teamwork, decision making and general participation in the cooperative activities to maximally possible benefits avail in being members of cooperative societies.
  2. The leadership in the cooperative societies should be democratically appointed to give rooms for fairness and rights for others to express their wishes. More-also, the leaders in the cooperatives should try to be unbiased and proactive while handling cooperative issues.
  3. The cooperative societies should maintain its freedom from political influences, religion and cultural affiliation. This can be achievable through visionary and dynamic leaders that opened to all members and deals with societies’ issues without biasness. Also, horizontal and vertical interactions should be maintained to ensure sharing of ideas among others cooperatives as well as giving rooms for effective monitoring.
  4. The government should improve on policies that dealt with operation of cooperative association in Nigeria. Likewise, the government should assist the cooperative to establish linkages with the several NGOs within and outside the country in order to benefit from the array of assistance windows that will enhance their activities.

Get Complete Project Material

5,000 5000

The Complete Material Will Be Sent to You in Just 2 Steps

Quick & Simple…


Step One Purchase

Make Payment (Through Transfer) of ₦5,000 to the Account Below

Zenith BankAcc No: 1225513212
Samphina Academy
Current Account

Or CLICK HERE To Pay With Debit Card


FOR STUDENTS OUTSIDE NIGERIA
CLICK HERE To Purchase Material ($15)

Step Two Purchase

Send the Following Details on WhatsApp ( 08143831497) After Payment

  1. Payment Details

  2. TOPIC: The Survey Of The Factors Affecting The Growth Of Co-Operative Society

The Complete Material Will Be Sent To You On WhatsApp After Receiving Your Details
T & C Apply


  Contact Our Help Desk


Need a Different Topic? Perform a Quick Search



List of Related Works

Click on Any Topic to Preview the Content

samphina.academy

Samphina Academy

Samphina Academy is an Online Educational Resource Center that is aimed at providing students with quality information and materials to aid them in succeeding in their academic pursuit.