CHAPTER ONE
INTRODUCTION
An alternative form of marketing organization for entrepreneurs
and trading company in which has played a major role in most of local areas in
involving Ejigbo and it environment in the co-operative societies.
Co-operative societies have played a
vita role on the economic development and upliftment of people in rural
communities due to the fact that society regarded it as heir economics saviors.
co-operative has a basic survival value; the is because it constitutes a vital
aspect of both individual and group behaviour. The individual co-operative with
each other as a means of survival and security
More
so, individual group relationship on only be achieved through working together
otherwise referred to as the spirit of togetherness.
In a general sense, co-operation is
not new phenomenon, parents and children cooperate, tenants and lord
co-operation, teacher and pupils cooperate in communities and states in other
to achieve their aims, objectives, using mission and aspiration
In
a specific sense, co-operative society refers to association of people coming
together for their economic boost and social interest of their members.
Acquiring
of shares in viable going concerns
Establishment of viable projects, for
instance, setting up of industries, catering services and consumers shop aims
towards bringing grassroots people closer to the government. according to
international labour in a book titled co-operative management and
administration published in gebeva, 1968.
“The
modern co-operative institution originate among the common people and still
remains a mechanization for defense, betterment and emancipation to combat the
condition brought about by he evolution of the market economy industrial
reduction in the early nineteenth century”
1.1
STATEMENT
OF THE PROBLEM
This project is designed to highlight the impact of
co-operative societies on economic development of rural community.
The main purpose of this research study is to investigate
he need for a formation of co-operative societies as only source of securing
economic development of a rural community with a particular reference to Ejigbo
Karowoseye co-operative finance and credit union limited, ejigbo.
Henceforth, one cannot but mention the factor that have
hampered their firm achieving their main objectives rendering the needful
services to its members.
Therefore, the problems are stated as follows:
i.
Evaluating the impacts of
education provided for members
ii.
Difficulty in collecting
members dues
iii.
Poor methods of retrieving
loans back
1.2
objective of the study
One of the most important objectives of any organization is
community in business in business in this regard an adequate reaction of four
to be learnt on member for necessary of production purpose be made available
from time to time. This research work also has the following objective
1.
to clarify likely problems
facing cooperative securities
2.
to commend the possible
solution to the problem associated to cooperative
3.
to serve as guide for other
cooperative in implementation of their policies and programmes
4.
to improve the proper
administration or management in formation implementation and execution of
strategies needed
1.3
The research work is narnomed
to the course study in references to Ejigbo co-operative finances and credit
union ltd Ejigbo Osun state
This
emphasis on a relevant concept in relationship to the case study.
1.4
LIMITATION
OF THE STUDY
The main limitation of the study included the following
1.
Lack
of fund: – lack of fund can easily affect any
cooperative societies upgrading and affect their good and service. Money is
very essential in any cooperative structure it help the groups to growth move
forwards.
2.
Lack of banks in cooperative societies:-This
simply tells the distance to the particular cooperative societies every
cooperative societies should locate in place where individual member will able
to attend. Locate in place where individual member will able to attend. When it
is far. It can cause lowest term out of the number. It can calls cost the
entire member lost of transportation
3.
lack
of adequate materials:-
Material is very essential in any co-operative society.
Every
cooperative organization must set up many materials for individual member.
Material in essence is one of key roles that make cooperative to wax stronger.
Material is one of concept in cooperative societies it helps the member to access
to their upbringing.
So in any organization like this there should more adequate
of materials.
SIGNIFICANCE OF THE
STUDY
One of the significance of the study
is that it will bring benefit is to union and management; both the management
and the union often disagree on what the employees wants. This research worth
will help them to find out what types of welfare services are needed by the
workers.
Again, this study is capable of encouraging worker in
ejigbo knowledge co-operative finances and credit union limited to improve
their level of productivity if they were
adequate staff management policy, this will allow for creating an organization
which place each member of staff in a coverable situation conducive for further
development at the end of this study will serve as a guide to he management of not only Ejigbo
Karawoseye operative finance and credit union but to all cooperative as well as
other public and private enterprises as a whole. Co-operative, generally speaking
stated as a means of bottling against the economic exploitation of the poor,
masses and to that people came together in order to improve their economic
position within the society.
One school of though said co-operative is unscientific the
school sited the case of a trader who would not sell goods due to her inability
to hold enough.
Another school of though believe it is scientific in view
of the facts that it arises as a result
of poverty, deprivation, penury, frustration, unemployment, etc
1.6
RESEARCH
QUESTIONS
1. What
is cooperative society?
2. Does
it’s cooperative society have the impact of economic?
3. Does
the cooperative society have impact on social development?
4. Does
economic development wake profitable to the cooperative society?
5. What
is economic development?
RESEARCH HYPOTHESIS
These are the following research hypothesis namely:
Ha = Null Hypothesis
Hi = Atternative Hypothesis
1. Hypothesis
one
Ho there is no significance relationship between the
cooperative society and rural community.
Hi there is no significance relationship between the
cooperative society and economic development of the community
2. H2
: cooperative society has positive impact on economic development
Ho2: cooperative society has negative impaction.
1.7
DEFINITION
OF TERMS
IMPACT
: strong
impression of effect or role.
COOPERATION:
working together for a common purpose
COOPERATIVE:
the will to cooperate. As in cooperative society which is an association of
person usually with limited means which voluntarily done together to achieve a
common goal
SOCIETY:
a group of person lives within a specific environment
ECONOMIC
DEVELOPMENT: comprise of a group of people living in a
remote place. It also include people at grassroots level of government within a
local government
VOLUNTARY:
an act of doing things willingly without being forced. It implies that any
association that springs from compulsion as against a free will cannot be
genuinely said to be cooperative in the sense of the term.
ROCHALDE
EQUITABLE PIONEERS: an association of modern
cooperative society in
.
RESERVED FUND:-
this is an indivisible fund and no member is entitled
to chain a specified share in it except with the written permission of
registrar, it shall not be utilized in the business of the society.