THE IMPORTANCE OF STUDYING PRINCIPLES AND ECONOMICS OF CO-OPERATIVE AS A QUALIFYING SUBJECT

ABSTRACT

The problems faced by co-operatives and students studying co-operative Economics stems from their lack of understanding of the co-operative principles and the uniqueness of the co-operative Business Enterprise. In this project the principles of co-operative were reviewed to enable readers understand the basic concept underlying the co-operative principles.  It analyzed the basic steps to be taken in the organization of a viable co-operative society, since it possess  a major problem in the co-operative movement. I hope that co-operators who read this project will be able to at least be able to organize a successful co-operative society.

CHAPTER ONE

INTRODUCTION

The co-operative institution will tell us that the co-operative institution is about people. It’s about a business.  It is in line with these assertion that various definitions of this subject have been postulated by some school of thoughts.  Whereas some scholars see co-operative or define co-operative as an association of person usually of limited means who have voluntarily joined together to achieve a common Economic goals through the formation of a democratically controlled business organization, making equitable contribution to the capital required and accepting a fair share of the risk and benefits of the undertaking in which the members actively participate.