IMPORTANCE OF STUDYING CO-OPERATIVE ECONOMICS AND MANAGEMENT.
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IMPORTANCE OF STUDYING CO-OPERATIVE ECONOMICS AND MANAGEMENT.
INTRODUCTION
Cooperative Economics and Management in tertiary institutions contribute to the growth and development of co-operatives, as well as the availability of quality workers.
The importance of studying co-operatives in schools and postsecondary institutions, also known as co-operative education, is at the heart of co-operatives for work motivation, growth, development, and commitments because it is believed that once a co-operative, always a co-operative.
Despite this, many co-operatives have failed in their separate institutions or organisations due to their members’ reliance on cooperative education or a lack of organisation around the value of cooperative education to members. Cooperative education is an essential component of cooperative function.
As a result, I would like to do research on the significance of studying cooperative economics and management at tertiary institutions, as well as to provide a few solutions to the failure of cooperative practices in institutions or organisations.
I chose the Institute of Management and Technology (IMT) Enugu as my case study.
Furthermore, why education is vital for cooperation. Throughout the cooperative movement’s one hundred and forty-year history, notable cooperators have consistently emphasised the value of education. Robert Owen emphasised the importance of citizenship education in building a just and moral society.
Rochdale Pioneer followed in his footsteps. They studied and discussed for a year before establishing their organisation. In 1884, they changed their law to require that 21/2% of their profits be set aside for educational purposes, as human resources are critical to the cooperative movement.
Chapter one
0.1 Introduction
Prior to the foundation of the Institute of Management and Technology Enugu in 1967, there was a college of technology that offered up to the ordinary diploma.
An administrative school that provides short-term service training courses for government workers of various grades, as well as a cooperative college that offers a diploma course in cooperative studies to co-operative components from the Ministry of Industry, Trade, and Cooperatives.
These institutions were separate and geographically distinct. The college of technology was part of the ministry of education and was overseen and supervised by the ministry.
Similarly, the ministry of establishing oversaw the administrative institution, although the cooperative college was directly under the ministry of rural development.
These institutions were staffed by civil servants who were posted and reassigned from one department to another based on the needs of civil service.
After 1970, there was a need for higher education institutions to update training in technological and managerial fields, where there were numerous opportunities for personnel development.
Future graduates in technology, management, and related fields would benefit from functional training rather than the programmes offered by colleges of technology and institutes of administration.
The founding fathers’ major goal was to maximise managerial efficiency, as well as professional and technical skills, and to acquire the necessary tools.
The close integration of management and technology in the new objectives was unnecessary and ineffective. Today’s management and technology require training and education in order to effectively and efficiently satisfy and full themselves and their job in a world where applied science entails an increasing number of moral and ecological issues.
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