Revitalization Of Ailing Industrial Co-Operative Societies (A Case Study Of Enugu Carpenters Multi-Purpose Co-Operative Society Ltd, Enugu State)
LIST OF TABLES
Tables Items Pages
List of some existing societies 24
Distribution of selected of respondent 36
Distribution of status of respondent 37
Problem of the society 37
Sources of fund 38
Rate of supervision 39
Calls for meetings 40
Co-operative education 41
Share capital 42
Attendance to meeting 42
Patronage by members 44
Payment of dividend 44
Audited account 44
Writing of programs report 46
Indebtness to the society 46
Revitalizating the society 47
Ownership of one single business 48
Engagement of professional managers 49
The study of systematically revealed he process of revitalization of ailing industrial co-operative societies on Enugu State which include the following:-
Raising owned capital on preference to borrowed capital
Effective and efficient management
Regular attendance of meetings and effective contribution in affairs of the societies
Regular preparation of books of accounts and progress reports.
Regular calls for meetings by the management committee
Regular supervision of the affairs of the societies by co-operative suspicious.
The last but not the least is certainly adequate co-operative education.
After critical appraisal of these variables, workables recommendations were made, which the researcher hoped that if implemented would go a long way in revitalizing numerous industrial co-operative societies scattered on all towns and villages within the state.
1.1 Background of study 1
1.2 Statement of the problem 5
1.4 Scope of the study 6
1.5 Research question 7
1.6 Significance of the study 8
1.7 Limitation of the study 9
1.8 Reverences 10
2.0 Review of related literature 11
2.1 Objective of chapter 11
2.2 Industrial co-operatives – definitions 11
2.3 Industrial co-operatives – developmental stage 12
2.4 Industrial co-operatives – formations 15
2.5 Industrial co-operative – operations 17
2.6 Industrial co-operative – controls 18
3.0 Research design and methodology 19
3.1 Research design 19
3.2 Area of study 21
3.3 Population of study 22
3.4 Sample and sampling procedure techniques 23
3.5 Instrument of data collection 23
3.6 Valuation of the instrument 24
3.7 Reliability of instrument 24
4.0 Data presentation and analysis 25
4.1 Presentation and analysis of data 25
5.0 Summary of feedings, conclusion and recommendations 45
5.1 Summary of findings 45
5.2 Conclusion 47
5.3 Recommendation 49
MEANING AND DEVELOPMENT OF CO-OPERATIVE
1.1 BACKGROUND OF THE STUDY
MEANING: Before going into details of our work, it is pertinent to give a brief definition of the tem “Co-operative Enterprise”. According to Onuoha, (1986). A co-operative is defined as an enterprise whose owners are at the same time the users of the facilities, goods and services provided.
Professor S.C. Chukwu. (1990), gave an indebt analysis in two co-operative from the essentialists point of views sees it from picking out values, ideologies and overall economics and social goals of the enterprises while the norminalists try to approach co-operative from by picking out essential or peculiar structural ingredients needed common or associated with the co-operatives he went further to sate that the idle situation I one where all items are presented to the very highest degree. This book comprehensively defined co-operatives:- “An organization which comprises a group of person in the sociological sense, who operate individual private businesses (or houses holds) on which one or more common aim(s) problem(s) have arisen and has I have brought the common problems by means of a business enterprise, which is greatly owned / maintained by the group and is meant to produce not just any goods / services but rather goods and / or services as required by and made available directly to the businesses (house holds of the members in response to special charges to promote the economic welfare) of the members as individual private businessman , owners of private households and in the special case of the productive co-operative employers of one co-operative of one co-operative enterprise.
The peculiar characteristics of this thought provoking and marthone and brains exercise resting on the following:
Human factors in a co-operative enterprise that is, it is person oriented.
Entity factors of co-operative which means the establishment of business enterprise.
Goal factors of the co-operative which directs the objective of the co-operative.
Also in this perspectives on co-co-operative business enterprise, Celestine Chkwuemeka Bob-Igwe (1993) defined co-operative this “if is a voluntary, evolutionary, democratic process resulting from imitative and enterprise at the “grass root” by the individual motivated, by the principles of self-help and mutual aid.
According to the co-operative law of eastern Nigeria (CAP 28) of 1962, co-operative is defined as an association which has as its object the promotion of the economic interest of or the provision of services for, its members in accordance with the co-operative principles.
The international co-operative alliance in 1995 defined co-operative as an autonomous association of persons United Voluntarily to meet their common economic, social and cultural needs aspiration though a jointly owned and democratically controlled enterprise.
Based on the various definitions above one will notice without much pain peculiarities of human entity and good factors on virtually all of them. It was from the three last mentioned definitions that attentions were given seriously to co-operative laws, rules and principles. However, one particular point I wish to state is my appreciations in those noel men for working out various definition that helps us to understand this subject the more.
The word co-operation is a generic term. It means that activities of how or more towards the attainment of goals. But the term co-operative society is almost now. It started in western Europe as a panacea to the problems created by industrial revolutions, therefore, the father of modern co-operative development is Robert Owen (1971 – 1858). His own idea of co-operative society is building a modern separate society devoid of capitalist societies. Then later came the pioneers of 1844. This was a group of 28 waves who raised their working capital through personal savings and the use of this capital to start up a consumer co-operative shop at No. 13 Toad lane street in the town of Rochdale. This because was established, manage and controlled by the Rochdale principle of co-operatives. It stand to be the most successful co-operative enterprise.
This was followed by the establishment of international co-operative alliance world-wide in 1895, from this period of date, the international co-operative body had been doing a lot to sustain the growth and development of co-operative world-wide including finding durable and more applicable definition of principles of co-operative. Today co-operative have spread to al fields of human endeavour be if agriculture, production, marketing and selling services to mention but a few. Just mention a felt need, then form an equivalent or corresponding co-operative that tackles the problems. It is in the light of this that we are engaged in the study of the use of co-operative in solving the problems of investment failure common to Nigerian economy today.
1.2 STATEMENT OF THE PROBLEMS
All-over the world industrial co-operative are know to be play virtal roll in the economy development of the people.
In early 70s many economy industrial are known to have been established in this part of country unfortunately non of these industrial co-operative societies have been able to find their feets. Some problems must have been responsible for these ugly situation. The main trust of these research is to fray these problems and proper solutions to them, that another purpose of this work is to enrich me with wide co-operation knowledge that will help me in my future endeavours as a student co-operatives.
Therefore, at the completion of this study we may have achieved the following purposes:-
Build enough data to revitalize this society
Build enough data that will help revitalize similar co-operatives.
Build enough data that will help click the failure of more co-operatives.
Acquire enough knowledge that will be helpful in my future career.
1.4 SCOPE OF THE STUDY
The scope of this study is within the axis of academic research. This research has taken me to the ministry of commerce and industry co-operative.
Division: The director of co-operative now referred me to one Mr. Onwe when I believe is an experience staff.
With his help, I have delved into the achieve and post records of this co-operative society to harness historical data.
Also the scope of this study has taken me to the last known office of Enugu carpenters multi-purpose co-operative society Asata. Attempt was made to reach some of the members and past officers of the society. This people were interviewed and data regarding to the problems of the society collected also information regarding virtualization of this society were collected from the members and prospective members.
Conclusively, the scope covers making recommendation and conclusion on the following:
Causes of failure in co-operative business and
Measures to be taken to check frequent failure
1.5 RESEARCH QUESTIONS
At the beginning of this chapter, I talked about the meaning and the historical development of the term “co-operative society”. Now is the true to consider the under listed questions peculiar to this research as:
What is industrial co-operative? How does this term “industrial co-operative applied to the case Enugu carpenters multi-purpose co-operative society Ltd?
For how long did this society lost before being distressed?
The causes of the distress and mean of correcting them.
The importance of revitalizing this society to the members on one hand and whole economy on the other hand.
How frequent or societies registered and what are their distress rates?
Supervisory capacity of government co-operative staff.
1.6 SIGNIFICANCE OF THE STUDY
The significance of the study is to prepare the student to be more useful on graduation. With all the knowledge acquired on this study, the student can work as a co-operative assistant or even on any other business enterprise.
Another significance of this study, is that if the recommendations of this research are used to revitalize Enugu carpenters Multi-purpose co-operative society Ltd, we would have succeeded on the great mass mobilization of people and resources toward production of good and services and the will reduce unemployment. There will be efficiency of our production, which will be efficiency on our production, which will increase productivity. Productivity when increased will increase standard of living and growth on the economy.
1.7 LIMITATIONS OF THE STUDY
The problems that will be encountered in this study are as follows. It is pertinent to point out that the researcher is a student and must combined this research with other academic work.
Secondly, revenue will constitute another levitations to this study. As a student, the researcher may not have enough money to provide all the necessary materials needed for the study.
The respondent to the questionnaires constituted another limitation. The members of the ailing society understood this study as an indictment attempt to bring them to book while on the part of the ministry they may not kept enough source documents to this study.
Onuoha Enyeribe (Dr) (1986) Principles of Co-operative Enterprises
Chukwu S.C. (Prof) (1990) Economics of the co-operative business enterprise Marburg consult Germany.
Bob – Igwe C.C (1993) Perspective on Co-Operative Business Enterprises
Osita Obodoechi, (2000) The Cobwebs of Co-Operation (An Introductory Analysis).