The Importance Of Studying Principles And Economics Of Co-operative As A Qualifying Subject For The Award Of Ond In Business Studies (bus 123)

THE IMPORTANCE OF STUDYING PRINCIPLES AND ECONOMICS OF CO-OPERATIVE  AS A QUALIFYING SUBJECT FOR THE AWARD OF OND IN BUSINESS STUDIES (BUS 123)

TABLE OF CONTENTS

PREFACE                                                                    I

ACKNOWLEDGEMENT                                          II

DEDICATION                                                           III

COVER PAGE                                                            IV

TITLE PAGE                                                               V

APPROVAL PAGE                                                     VI

Chapter One

Meaning of Co-operative

Co-operative Value

Chapter Two

Principles of Co-operative Business

I.C.A Principles of 1937

Voluntary and Open Membership

Democratic Member Control

Member economic participation

Autonomy and Independence

Education, Training and Information

Co-operation among Co-operatives

Concern for Community

Chapter Three

The Rochdale Pioneers I.C.A

Aim of the I.C.A

I.C.A Membership

Types of membership

1.     Collective membership

2.     Individual membership

3.     Ordinary membership

Rights of members.

Duties of members

Past I.C. A Congresses

Chapter Four

Introduction

Reasons for joining co-operatives

i.                   Economic motive

ii.                 Sociological motive

iii.              External pressure

Classification and Types of co-operatives

 Producer co-operative society/movement.

Chapter Five

i.                   Findings

ii.                 Recommendations

iii.              Conclusion.

CHAPTER ONE

MEANING OF CO-OPERATIVE

The co-operative institution will tell us that the co-operative institution is about people. It’s about a business.  It is in line with these assertion that various definitions of this subject have been postulated by some school of thoughts.  Whereas some scholars see co-operative or define co-operative as an association of person usually of limited means who have voluntarily joined together to achieve a common Economic goals through the formation of a democratically  controlled business organization, making equitable contribution to the capital required and accepting a fair share of the risk and benefits of the undertaking in which the members actively participate.

Other International Co-operative Alliance (I.C.A) compliments with the view that co-operative is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.

Furthermore, a co-operative society can be defined as an enterprise formed and directed by association of users applying within itself the rules of democracy and directly intended to save both its own members and the community as a whole.

Finally, according to (Bob-Igwe, 1993:15), he defined Co-operative as a voluntary, evolutionary democratic process resulting from initiative and enterprise at the “grassroots” by individuals motivated by the principle of self -help and mutual aid.

From the above definition we can infer that the co-operative society is basically:-

a)     An association of persons

b)    A union of capital

c)     A common need to solve a mutual problem (self help.)

Co-operative Value.

Values are basic conceptions of what is good or bad, a standard for behaviour and quicker for action when properly inculcated.  The I.C.A in 1995 amended the 1966 principles of co-operatives, the principles were derived from co-operative values which clearly states the co-operative attitude to social and economic life which distinguishes them from other forms of business.

When we understand the co-operative values, then we can understand the nature of co-operatives.  Co-operative values are stated by the I.C.A in 1995.

a)     Self-help

b)    Democracy

c)     Equality

d)    Equity

e)     Solidarity

f)      Honesty

g)     Openness

h)    Social responsibility

i)       Caring for others.

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