Impact Of Cooperative Business In The Development
(A Case Study Of Oru West Lga Cooperative Society Oru West)
The impact of cooperative business on development is profound and multifaceted, encompassing economic, social, and environmental dimensions. Cooperative enterprises, structured around shared ownership and democratic decision-making, foster inclusive economic growth by empowering marginalized communities, enhancing income distribution, and promoting job creation. Moreover, they contribute to social cohesion by fostering a sense of community ownership and solidarity, thereby addressing societal challenges such as poverty alleviation and social exclusion. Environmentally, cooperatives often prioritize sustainability practices, such as resource conservation and eco-friendly production methods, leading to reduced environmental degradation and fostering a more sustainable development trajectory. In essence, cooperative businesses play a pivotal role in fostering equitable, sustainable, and inclusive development, making them a crucial component of the global economic landscape.
This project examines the impact of cooperative business in the development of Imo state.
The purpose of this study was to ascertain the development which cooperative brought through the mobilization of peasant and harnessing of how to increase food production. Cooperative society that government aid can reach farmers in form of loans tractors and fertilizers for proper growth of their product.
In chapter two of this research, it was literature review and the problem associated with cooperative development.
In chapter three of this work is research methodology design and how the sample size is gotten.
Chapter four talks about the presentation and analysis of data.
Chapter five talks about the summary, conclusion and also recommendations.
Title Page
Approval Page
Dedication
Acknowledgement
Abstract
Table Of Contents
CHAPTER ONE
1.0 INTRODUCTION
1.1 Background Of The Study
1.2 Statement Of Problem
1.3 Objectives Of The Study
1.4 Statement Of Hypothesis
1.5 Significant Of The Study
1.6 Scope Of The Study
1.7 Limitations Of The Study
1.8 Definition Of Terms
CHAPTER TWO
2.0 LITERATURE REVIEW
2.1 Introduction
2.2 The History Of Cooperative In Nigeria
2.3 Criteria For Performance Appraisal
2.4 The Impact Of Cooperative Societies In Oru Local Government Area
2.5 Government Participation In Cooperatives
2.6 The Problem Associated With Cooperative Development
2.7 The Possible Classification Of Cooperative
CHAPTER THREE
3.0 RESEARCH DESIGN AND METHODOLOGY
3.1 Introduction
3.2 Research Design
3.3 Sources/Methods Of Data Collection
3.4 Population And Sample Size
3.5 Sampling Techniques
3.6 Validity And Reliability Of Measuring Instrument
3.7 Method Of Data Design
CHAPTER FOUR
4.0 PRESENTATION AND ANALYSIS OF DATA
4.1 Introduction
4.2 Presentation Of Data
4.3 Analysis Of Data
4.4 Test Of Hypothesis
4.5 Interpretation Of Results
CHAPTER FIVE
5.0 SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary Of Findings
5.2 Conclusion
5.3 Recommendations
References
Appendixes
1.0 INTRODUCTION
Cooperative societies are very important instrument of development. Its relevance in development cannot be over emphasised. The socio-economic situation of this country is such a complex one. The rich are accorded a lot of privilege they live in the urban area and enjoy a lot of amenities, the past are guaranteed in the rural areas with little or no amenity to enjoy. Majority of Nigeria’s population live in the rural area. The rural area are how agriculture output the constant on poor soil tools and weak infrastructure.
It is realistic of this that government want to reach to this rural area and help them to develop through the use of cooperative enterprise.
Nigeria cooperative societies had their genes in the wake of the worlds depression of 1930-1935. the major interest of the colonial masters introduces cooperative, that of agricultural cooperative societies room spray up cooperatives and socio–economic organisation whose usefulness in the transportation of communities have been internally acknowledged.
The international cooperative alliance (I.C.A) in declaring (1971-1980). The cooperative declare asserted the need for cooperative as an aid is development in the less developed countries. The cooperative society is generally regarded as instrument for economic and social progress.
In order to produce more food for our terming population farmers should join cooperative societies.
1.1 BACKGROUND OF THE STUDY
By background of the study we mean what has been in existence, the expected changes and what the future holds for the research work. To this extent, I want to highlight on how the cooperative business plays in development of Imo state started.
Cooperative is the fresh way to mobilize the peasant and harnessing of hand for increase food production. Beside it is only through cooperative societies that government aid can reach farmers in the form of loans, factors, fertilizers seeds and searching. Though cooperative farmers can learn new method of farming and received technical assistance from extension workers Onuoha (1988.1).
Statement of the work are true enough but they suffer one handicap, they are vague and abstract and can be misleading. To avoid deceiving people it is again this background that the research want to work at the impact of cooperative organization in the development of Imo state and Oru local government areas in particular.
1.2 STATEMENT OF THE PROBLEM
There are many problems that are likely to affect any cooperative society in the process of its application in bringing development to its communities.
Generally, the country has both internal and external problems which continue to frustrate any attempt at using cooperative to develop substantially. The internal problem manifest themselves in the nature of inappropriate economic measure like
(1) Deficit budgeting
(2) Over valued exchange rate
(3) Huge external debts
(4) Unemployment
(5) Raising population
(6) Inflation and other externally most developing countries like
(7) Over depended on the developed countries.
It is in view of this ugly trend that the government has taken a gigantic step to bring development to the grassroots so as to abridge the socio-economic gap between the rural and urban dwellers and also to help resuscitate the Nigeria economy this use of cooperative societies among other strategies. Cooperative societies are believed to be the best organ to bring development to the grassroots. The researcher tends to trace the impact local of cooperative society as a development strategy in Imo state and Orlu local government cooperative society ltd Oru, Imo state in particular.
1.3 OBJECTIVE OF THE STUDY
The researcher has the major objective of finding the impact of cooperative in the development of Imo state with special reference in Oru local government area.
OTHER SPECIFIC OBJECTIVES INCLUDE
i. To work into the achievements and impact so far made on the people by various cooperative societies in Oru local government, in their effort to help bring development to the aim
ii. To identify the projective built by the existing cooperative.
iii. To identify the various societies existing in the area under review.
iv. Why the people from the cooperative society
v. To find out the various problem being encountered by these cooperative which tend to hinder their effective and efficient performance.
vi. Finally, to make recommendation and suggest section that will enable these societies over- come the problem so as to function very well.
1.4 STATEMENT OF HYPOTHESIS
The term hypothesis can be defined as a statement of assumption of relationship between at least two variables in a project study therefore the hypothesis of the study is started thus
H0: The impact of cooperative business in Oru west has not created any impact to the society.
H1: It has created some impact to the society
H0: Cooperative business in development of Imo state has not brought education to the members of the society in Oru west local government area
H2: cooperative business had brought education to the members of the society in Oru west L.G.A
H0: The impact of cooperative business in development of Imo state has not brought favour in Oru west.
H3: The impact of cooperative business in development of Imo state has brought favour to the people of Oru west L.G.A.
1.5 SIGNIFICANT OF THE STUDY
This study is significant in many ways. The findings of this study with reveal the position impact of cooperative societies in the development of Oru west local government area in Imo state in general.
It would equally sensitize the populace and the members of a cooperative enterprise to a haze extent, in the development objective of a cooperative enterprise. The findings of this study will be relevant to various communities who desire development but have not established any viable cooperative society in their area. Which also be of relevance to the Nigeria policy maker in their nature development plan, by brining out the importance of cooperative societies in fostering development in rural area.
Lastly, this study or its finding will be of educationally importance to the various universities, polytechnics researchers department in the various school to enhance the study of cooperative.
1.6 SCOPE OF THE STUDY
The researcher will limit this study to the impact of cooperative organisation in development of Imo state. A case study of Oru west local government area. And the sample staff of department in change with the cooperative society and sample in dividing or people that matter In the department in the local government will form part of the scope.
1.7 LIMITATION OF THE STUDY
For local of time and financial constraints the researcher will not cover aid the cooperative societies in Oru local Government Area. Apathy and government beaucratic also limited the researcher from carrying out the study.
1.8 DEFINITION OF TERMS
For charity of purpose and the elimination of confusion of any kind and the proper understanding of this study, the following definition of terms is necessary.
COOPERATIVE
According to Chukwu (1990) he defines cooperative as any form of two persons working together to achieve some aim or aims such working to settle will be on formal or informal basis and short or long terms economic or non-economic in future.
DEVELOPMENT
According to Obasi a progressive transformation of economic social and political structure of a society from relatively less compares less efficient from relatively more comply more efficient and more dependable form.
Impact Of Cooperative Business In The Development:
Cooperative businesses play a significant role in economic and social development in various ways. Their impact can be observed in multiple dimensions, including economic growth, poverty reduction, community development, and sustainability. Here are some key ways in which cooperative businesses contribute to development:
- Job Creation: Cooperatives often create jobs, especially in rural and marginalized areas where employment opportunities may be limited. By providing employment and income-generating opportunities, they contribute to reducing unemployment and poverty.
- Income Generation: Cooperatives enable members to earn a steady income through their collective efforts. This income can help improve the standard of living for members and their families, reducing income inequality.
- Access to Markets: Many small-scale producers and farmers lack access to larger markets due to their limited resources. Cooperatives can pool resources and negotiate better terms with buyers, giving members access to broader markets and better prices for their products.
- Capacity Building: Cooperatives often provide training and capacity-building programs for their members. This helps improve their skills and knowledge, making them more competitive in their respective industries.
- Financial Inclusion: Cooperatives can offer financial services such as savings accounts, credit, and insurance to members who might otherwise be excluded from the formal financial sector. This helps increase financial inclusion and access to capital for business development.
- Community Development: Cooperatives are often deeply rooted in their communities and can contribute to community development initiatives. They may invest in infrastructure, healthcare, education, and other social services that benefit their members and the broader community.
- Resource Management: Cooperative businesses often prioritize sustainable and responsible resource management. This can include environmentally friendly production practices, ethical sourcing of materials, and conservation efforts, contributing to the long-term sustainability of communities and ecosystems.
- Democratic Governance: Cooperatives are typically governed democratically, with members having a say in decision-making processes. This participatory approach can empower individuals and foster a sense of ownership and responsibility within the community.
- Social Capital: Cooperatives help build social capital by fostering trust, cooperation, and collaboration among members. This social cohesion can extend beyond the cooperative itself and positively impact the entire community.
- Resilience: In times of economic downturns or crises, cooperatives can provide a safety net for their members. They can collectively weather economic shocks and support each other during challenging times.
- Innovation: Many cooperatives invest in research and development, leading to innovation in their respective sectors. This can enhance productivity and competitiveness, contributing to economic growth.
- Local Empowerment: By giving communities greater control over their economic activities, cooperatives empower local residents to make decisions that benefit their specific needs and priorities.
In summary, cooperative businesses play a crucial role in promoting economic and social development by empowering individuals, strengthening communities, and fostering sustainable and inclusive economic growth. Their impact can be particularly significant in regions with limited access to resources and economic opportunities.