REVITALIZATION OF AILING INDUSTRIAL CO-OPERATIVE SOCIETIES (A CASE STUDY OF ENUGU CARPENTERS MULTI-PURPOSE CO-OPERATIVE SOCIETY LTD, ENUGU STATE)
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.
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:
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.
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