THE IMPACT OF CO-OPERATIVE BUSINESS TOWARDS INDUSTRIAL WORKERS. A CASE STUDY OF ANAMMCO MULTI-PURPOSE CO-OPERATIVE SOCIETY LTD. ENUGU

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ABSTRACT

This research is on appraisal of the impact of co-operatives business towards industrial workers. A case study of ANAMMCO multi-purpose co-operatives society ltd Enugu. In other words, it is designed to find out how the existence of co-operative society has been of economic benefit to industrial workers at ANAMMCO in Emene, Enugu.

       Primary and secondary data for the study were collected and analyzed using oral interview, structured questionnaire and presented in tables using percentages.

       Analysis of data collected revealed that ANAMMCO multi-purpose co-operative society has been of great benefits to it’s members. Through the co-operative, members obtain loans at low interest rates to meet up with their needs, buy goods at cheaper prices from the bulk purchase made by the association, save part of their income through the association, have a share in the profits generated by the co-operatives and get necessary encouragement in other self- help projects.

       Management do not interfere with the activities of the co-operative society. It however, suggested that proper education training should be given to members and non-members by the appropriate authorities. This will help to create necessary awareness, and ensure the contained existence of the co-operative with the attraction of more members.  

TABLE OF CONTENTS

Title page……………………………………………………………………………..i

Certification………………………………………………………………………….ii

Dedication…………………………………………………………………………..iii

Acknowledgement……………………………………………………………..iv

Abstract……………………………………………………………………………….v

Table of content………………………………………………………………….vi

CHAPTER ONE

Introduction………………………………………………………………1

Background of the study………………………………………….1-4

Statement of problem………………………………………………4-5

Objective of the study……………………………………………..5-6

Statement of hypothesis………………………………………….6-7

Significance of the study……………………………………………7

Scope of the study……………………………………………………7-8

Limitation of the study………………………………………………8-9

Definition of terms……………………………………………………9-12

CHAPTER TWO

Review of related literature ……………………………………….13

The meaning of co-operative society………………………..13-17

History of the first co-operatives society…………………..17-18

Objectives and plans of this society (Rochdale Equitable pioneers) …..8-20

The principles of this society (Rochdale pioneers)…..20-22

Co-operative values ………………………………………………….22-27

Historical background of workers co-operative movement in Nigeria …………………………………………………………………..27-31

Types of co-operatives………………………………………………31-35

Economic social and other benefits of cooperative society…………………………………………………………………………35-38

Historical background of ANAMMCO EMENE, ENUGU.38-40

CHAPTER THREE

Research design and methodology……………………………..41

Research design …………………………………………………………..41

population of study………………………………………………………41

Sample size…………………………………………………………………..41

Method of data collection………………………………………42-43 

Methods of data analysis………………………………………43-44

CHAPTER FOUR

Data Presentation and Analysis…………………………………45

Data Presentation ……………………………………………………..45

Data Analysis…………………………………………………………46-56

Test of hypothesis…………………………………………………56-61

CHAPTER FIVE

Summary, Recommendations and Conclusion ……….62

Summary…………………………………………………………………..62

Recommendation……………………………………………………63-64

Conclusion…………………………………………………………………..65

Bibliography……………………………………………………………66-67

Appendix…………………………………………………………………68-70

CHAPTER ONE

  1. INTRODUTION
    1. BACKGROUND OF THE STUDY

The modern co-operative movement being in England during the first part of the 19th century. There were many years of experimentation, and many failed attempts, before successful cooperative was established. The turning point came in 1844, when the first successful cooperative called the Rochdale society of equitable pioneer, was established in Rochdale City, an individual town close to Manchester.

Okonkwo (1989,6) describe the cooperatives movement  as “an invention of necessity originating from the evils of the industrial revolution” the device exploited by the suffering working classes of the industrial revolution to alleviate their pitiable condition.

It is a fact that the Rochdale Pioneers  organized their society in the day of the industrial Revolution 1750 – 1850, when factory owners or capitalists exploited workers bitterly in order to maximize profits. Workers retaliated with violence and strikes. Unemployment was high life-wages were extremely low, often below subsistence level. Wages were so low that child labour was common, children working to supplement the income of their parents. Workers had to survive on a weekly wage of six pence. Skilled workers may be paid two shilling a week. Life was hard that the decade become known as “the Hungry Forties”.

During this Hungry 40’s shop keepers on their own part make profits through adulteration of goods they sold.

Workers hired in over crowded shanties under the most in sanitary conditions. They worked for more than (12) hours a day in ill-ventilated factory buildings design to look like prison houses and  under conditions they were close to slave labour.

The anti-social effect of the industrial revolution resulted in widespread poverty and destitution described as “Pauperism”. With many depending on charity, while others died of malnutrition diseases and starvation.

In this respect, notable people like Robert Owen in England, William King, Charles Fouries, Lonis Blan both of France and Ernest Bader. These were the great Pioneers of industrial cooperatives in the world. Most of them were factory owners who formed at capitalism turn their factories into co-operative organization to enhance the quality and working relationship of both the employers and employees.

Industrial employees were most at times converted in to co-operative members and asked establish cooperative communities to fine together, work together share together, and help one another.

      The aim of these great pioneers was to totally eliminate the exploitation of the workers by owners of capital and to permit the workers to reap fully the fruits of his or their labour.

    That is why co-operatives are reap fully the fruit of his or their labour.

       That is why co-operatives are regarded as a weapon to fight capitalism diversify the economy of a nation.

       All over the world workers are known to have had long history of exploitation. From their employers and the business as community, under the capitalistic society, as the saying have it that necessity is the mother of invention workers then with the motivation of some social reformers.

       Notable Robert Owen (1771-1858) and Dr william king (1786-1865) had no choice other than to co-operate in order to protect themselves, therefore, co-operative society can be regarded as the weapon to oppress an economic system.

       In the above basis, co-operative movement was inspired by the following deals which include self help, self reliance, self independence, eliminates of exploitative middlemen. Equality, fairness service, justice and equity or economic relations. Onuoha (1986).

1.2 STATEMENT OF PROBLEM

       Workers in a typical industrial company are often required to carryout routinized work for a long period.

With the aim of achieving a certain production target everyday. The workers salary are often not regular and some of them may have no other alternative other than to seek for services of extortionist money lenders at cut the root rate of interest just to make ends meet.

       Also the relationship between the workers and the management is more or less official with little or no room for other personals of the workers. The employees of such an organization have no choice other than funding a means for better interaction among themselves.

       In this light, it is believed that ANAMMCO being an industrial establishment/manufacturing company the employees must be facing similar problems as portrayed above, if so then they must be contributing significantly to the economic well-being of its members.

THE IMPACT OF CO-OPERATIVE BUSINESS TOWARDS INDUSTRIAL WORKERS. A CASE STUDY OF ANAMMCO MULTI-PURPOSE CO-OPERATIVE SOCIETY LTD. ENUGU