AN ASSESSMENT OF IMPACT OF COOPERATIVE ENTREPRENEUR SKILL ON MEMBER BUSINESS A STUDY OF SELECTED COOPERATIVE MEMBER IN LAGOS METROPOLIS
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The purpose of this study is on an assessment of impact of cooperative entrepreneurship skill on member business. It is an applicatory and investigational study. The statistical population is 200 staff of selected cooperative society in Lagos metropolis was selected as the population of the study; by a simple random sampling, 133 staff were selected as the sample population of the study. Questionnaire was the data compilation instrument. The study shows that intersectional relationship for developing the entrepreneurship is the first priority of cooperation sectors, other priorities are arranging governmental essential instructions for supporting and developing the entrepreneurship, creating supportive networks for the sectors entrepreneurs, establishing centers for developing the entrepreneurship in the cooperation sector, and identifying and resolving the structural barriers and limitations of entrepreneurship development in the cooperation sector.
TABLE OF CONTENT
Table of content
1.1 Background of the study
1.2 Statement of problem
1.3 Objective of the study
1.4 Research Hypotheses
1.5 Significance of the study
1.6 Scope and limitation of the study
1.7 Definition of terms
1.8 Organization of the study
2.0 LITERATURE REVIEW
3.0 Research methodology
3.1 sources of data collection
3.3 Population of the study
3.4 Sampling and sampling distribution
3.5 Validation of research instrument
3.6 Method of data analysis
DATA PRESENTATION AND ANALYSIS AND INTERPRETATION
4.2 Data analysis
- Background of the study
For more than 150 years, the co-operatives have operated across the world. Based on their vast experience, they continue to develop in most sectors, such as consumer, banking, agriculture and service provision, not to mention sport and culture. They remain an economic and social reality wherever they operate. Far from having passed their “sell-by” date, they are responding to market needs and demands. Moreover, they are also meeting the new and unsatisfied needs of the people. Moreover, this is their strong point (Skurnik, 2002). Entrepreneurship is the process of creating value through establishing a unique assembly of resources in order to exploit the opportunities (Moghimi, 2003). Entrepreneurship is considered as an economical development engine in the competitive market based economy accompanied with the speedy changes and revolutions, which can develop the countries` economy, increase the productivity, provide jobs, and cause social welfare (Milton-kelly, 2003). How difficult is it for cooperatives in developing countries to develop entrepreneurial skills? From the point of view of economic organization theory, cooperatives are likely to be confronted with several obstacles in this process. First, due to its multiple owners and purposes, the entrepreneurial function within a cooperative tends to be less clearly allocated than in an investorowned firm. Moreover, members have a greater incentive to devote time to private entrepreneurial tasks on their own firms, since the returns to entrepreneurial efforts at the cooperative level will always be distributed among the group. Second, capital accumulation tends to be a problem in cooperatives, because dividends have to be paid to a large number of members. Capital constraints could mean that wages offered to managers are not high enough to attract the most entrepreneurial ones (Poter and Scully, 1987). Over the last decades, a broad consensus has emerged among the international development community, that a strong private sector is key to ensuring sustainable economic development, employment generation and competitiveness. A number of developing countries have begun to adopt policies reducing the role of the state in the economy in favour of more marketbased systems. This has been supported to varying degrees by a series of reforms meant to improve macroeconomic stability, promote more predictable and business-friendly legal and regulatory environments, and increase investments in public infrastructure and education. In the framework of such strategies that is aimed to support private sector development and improve national competitiveness, targeted measures have been increasingly implemented in order to accelerate entrepreneurial activity rates (OECD, 2011). Establishment and activating the cooperatives and developing the entrepreneurial activities, according to the unbalanced distribution of income from the country’s economical growth, is a suitable solution for developing the entrepreneurial activities and the social justice realization (Jafarzadeh and Bazargan, 2005). In addition to provide employment, cooperatives are good for public collaboration and creativity and innovation development in order to realize the economical and social justice; because of this, cooperatives can be useful in providing work possibilities and situations for all to achieve full employment, providing equipments for capable, but without work equipment people, preventing the individuals and specific groups from handling the wealth in order to the social justice, preventing the government from being the major employer, giving the management, capital, and the gained profit to the labor as well as encouraging them and using the work products directly, stopping the monopoly, hoarding, inflation and damaging others, and etc. (Cheraghali, 2005). The cooperative sector would be the largest sector in cooperative economy. The cooperative sector is divided into three main sub sectors, that is, cooperatively-run businesses, a range of community-based organizations and Households (Bijman and van Dijk, 2009). There are no doubts that governments should create different types of support institutions: In the period of financial crisis cooperative enterprises demonstrated to be able to face better market and financial problems using social creativity and innovation processes. The theory of cooperative enterprise needs more contributions in order to analyze the strategic and operative management features that are typically of these enterprises. Indeed, theorizing about cooperatives, especially mutualistic cooperatives, is important to underline that cooperatives are positioned in an independent kind that is separated from the not from profit enterprises and the for-profit ones.
The cooperative sector would be the largest sector in cooperative economy. The cooperative sector is divided into three main sub sectors, that is, cooperatively-run businesses, a range of community-based organizations and Households (Bijman and van Dijk, 2009). There are no doubts that governments should create different types of support institutions:
- To provide information on regulations, standards, taxation and customs duties on marketing issues.
- To advise on business planning, marketing and accountancy, quality control and assurance.
- To create incubator units providing the space and infrastructure for business beginners and innovative companies, and helping them to solve
- technological problems, and to search for know-how and promote innovation, and To help in looking for partners. In order to stimulate entrepreneurship and improve the business environment for small enterprises (Einstein College of Engineering, 2011). This study purpose was to evaluating the supportive strategies for the entrepreneurship development in the agriculture production cooperatives. Obviously, if cooperatives, financially and commercially, have the positive output for the society, there will be positive economical influences on both the national economy and their own members. According to the emphasizes of the fourth program of the country’s development about the entrepreneurship productivity, development, and reinforcement in the cooperation sector, basics are ready to realize this important substance and the basis (a 25% impact on the national economy until the 2025 perspective) is, also, provided for the cooperation sector outputs conformity (Kabiri, 2005). Legally, a glance on the fourth development programs document, ministry of cooperation’s development document in the 2025 perspective cooperation law, and such things indicates the importance of entrepreneurial issues in the cooperation sector. The necessity of identifying supportive strategies for entrepreneurship in the production cooperatives is a significant step for resolving the problems and is extremely necessary according to the importance of the agriculture sector in the province and that its growth is a foundation for the development objectives achievement, the unemployment problem in the province and in the agriculture sector, cooperation ability for being a good structure for employment, and the nature of entrepreneurship which can be a strategy for making job opportunities. Results related to the tendency of cooperatives to develop entrepreneurship, showed that not all companies need an entrepreneurial cooperative. Some of them do their business effectively and with a proper programming, but some other ones need a shock and creativity especially, if they work in eventful environments with sudden changes because such environments are unpredictable and their planning is ambiguous (Valentinov, 2007).
1.2 STATEMENT OF THE PROBLEM
The role of leadership participation in promoting cooperative society cannot be over emphasized, thus leadership plays a very important role in promoting the business of her members. Leadership is a basic requirement needed for the success of any cooperative movement. Therefore, any cooperative society that does not consider the entrepreneurial skill of her members will end up wasting capital of the membership, the above one is found to have slow promotion or no development at all and will eventually lead to all sort of problems. From the past decades, cooperative societies in Nigeria are referred to as part time business organization, the management committee are elected without following the laid down procedure for cooperative movement for charity organization, this make them less committed to the smooth running of the society. It is against this backdrop that the researcher intends to investigate the impact of cooperative entrepreneur skill on member business.
- OBJECTIVE OF THE STUDY
The main objective of the study is to ascertain the impact of cooperative entrepreneur skill on members business; but to aid the completion of the study, the researcher intend to achieve the following specific objective;
- To ascertain the impact of cooperative entrepreneurial skill on the growth of members business
- To examine the role of cooperative entrepreneurial skill on the profitability of members business
- To examine the relationship between cooperative entrepreneur skill and the growth of member business
- To examine the effect of entrepreneurial skill in management efficiency
- RESEARCH QUESTION
The following research questions are formulated by the researcher to aid the completion of the study;
- Is there any impact of cooperative entrepreneurial skill on the growth of members business?
- Does cooperative entrepreneurial skill play any role on the profitability of members business?
- Is there any significant relationship between cooperative entrepreneur skill and the growth of member business?
- Is there any effect of entrepreneurial skill in management efficiency?
- RESEARCH HYPOTHESES
The following research hypotheses were formulated by the researcher to aid the completion of the study;
H0: cooperative entrepreneurial skill does not have any impact on the growth of members business
H1: cooperative entrepreneurial skill does have an impact on the growth of members business
H0: there is no significant relationship between cooperative entrepreneur skill and the growth of member business
H2: there is a significant relationship between cooperative entrepreneur skill and the growth of member business
- SIGNIFICANCE OF THE STUDY
- The study help dig-out the problems obstructing the growth and promotion of the society particularly in the area of leadership participation.
- It will help to increase the rate of growth and development of cooperative society in the country.
- The study will help to enlighten student on the role of leadership participation in a society.
- It will help to show more light about the role of leadership participation in promoting cooperative.
1.7 JUSTIFICATION OF THE STUDY
It is believed that the importance of cooperative society to the development of entrepreneur cannot be over emphasized, This study purpose was to evaluating the supportive strategies for the entrepreneurship development in the production cooperatives of member businesses. Obviously, if cooperatives, financially and commercially, have the positive output for the society, there will be positive economical influences on both the national economy and their own members
As part of my requirement for the award of Bachelor of Science degree (B.SC) in management, this study is carried out to ascertain the impact of cooperative entrepreneurial skill on member business.
- SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers an assessment of impact of cooperative entrepreneurial skill on members business, but in the cause of the study, there are some factors that limited the scope of the study;
- a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study.
- b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
- c) FINANCE: The finance available for the research work does not allow for wider coverage as resources are very limited as the researcher has other academic bills to cover.
1.9 DEFINITION OF TERMS
An entrepreneur is an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services and business/or procedures.
This is an act of coming together of an individuals who pool their resources in order to improve there social economic interest in a democratic fashion and equitable regards to every members
Business is the activity of making one’s living or making money by producing or buying and selling products (goods and services). Simply put, it is “any activity or enterprise entered into for profit.
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