IMPORTANCE OF STUDYING ECONOMICS OF CO-OPERATION AS A QUALIFYING SUBJECT.
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
IMPORTANCE OF STUDYING ECONOMICS OF CO-OPERATION AS A QUALIFYING SUBJECT.
Chapter one
1.0 Introduction
1.1 Background of the Study.
The complete evolution of a company enterprise in a specific country necessitated different institutional frameworks.
One example of such an institutional framework is the cooperative business venture. The term “cooperative” might be interpreted differently. In layman’s terms, it means working jointly or mutually.
Another meaning, which is where our emphasis falls, refers to a distinct sort of commercial organisation. The cooperative has been characterised by various schools of thought, but the difference is in the degree of emphasis on one feature over the other.
One school of thinking defines a co-operative as a commercial venture owned and run by voluntary associations to provide members with labour and salaries or goods and services.
However, the International Co-operative Alliance (ICA) defines a cooperative as “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.”
The role of economic cooperation in business is critical to the economy’s growth and development. Cooperatives have justified their crucial role in socioeconomic and political growth, notably in industrialised countries such as England, which is recognised for consumer cooperatives, and Germany, which is known for credit cooperatives. Likewise in underdeveloped countries such as Nigeria.
Cooperative movement is a global phenomenon in which countries have progressed from simple traditional forms (8) of mutual institutions to sophisticated formally organised institutions.
Because of its significant significance, this institution has garnered international recognition. It has contributed to the economic development of many countries, notably wealthy countries.
Need help with a related project topic or New topic? Send Us Your Topic