The Impact of Thrift and Credit Cooperative Society on Workers Welfare and Productivity in an Organization A Case Study of Nbc Thrift and Credit Cooperative Society Owerri

The Impact of Thrift and Credit Cooperative Society on Workers Welfare and Productivity in an Organization

Project / Seminar Material
Reference ID: PS-925-TM

DEDICATION

This research material titled “The Impact of Thrift and Credit Cooperative Society on Workers Welfare and Productivity in an Organization” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Cooperative Economics and Management (CEM), Book Authors and Profound Scholars of existing or related project material on “The Impact of Thrift and Credit Cooperative Society on Workers Welfare and Productivity in an Organization” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

The Impact of Thrift and Credit Cooperative Society on Workers Welfare and Productivity in an Organization (A Case Study of Nbc Thrift and Credit Cooperative Society Owerri)

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

  • 1.1 Introduction
  • 1.2 Background of the study
  • 1.3 Statement of the problem
  • 1.4 Objective of the study
  • 1.5 Research questions
  • 1.6 Research Hypothesis
  • 1.7 Significance of the study
  • 1.8 Scope of the study
  • 1.9 Limitation of the study
  • 1.10 Definition of terms

CHAPTER TWO

LITERATURE REVIEW

  • 2.1 Introduction
  • 2.2 Meaning and Scope of Cooperative
  • 2.3 Impact of Cooperative in Promoting Workers Welfare Check
  • 2.4 Cooperative and Human Resources Empowerment
  • 2.5 The Concept of Welfare Management in Cooperative
  • 2.5 Challenges of Credit Allocation to Cooperative Members
  • 2,6 Characteristics of Cooperative Society

CHAPTER THREE

RESEARCH METHODOLOGY

  •  3.1 Introduction
  • 3.2 Research Design
  • 3.3 Population of Study
  • 3.4 Sampling Technique
  • 3.5 Research Instrument
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Questionnaire
  • 3.8.1 Interview
  • 3.8.2 Key Informants Interview
  • 3.8.3 Observation
  • 3.9 Statistical Analysis

CHAPTER FOUR

PRESENTATION AND ANALYSIS OF DATA

  • 4.1 Introduction
  • 4.2 Presentation and Analysis of Data
  • 4.3 Test of Hypothesis 1
  • 4.4 Test of Hypothesis 2
  • 4.5 Discussion of Findings

CHAPTER FIVE

SUMMARY, CONCLUSION, AND RECOMMENDATION

  • 5.1 Introduction
  • 5.2 Summary
  • 5.3 Conclusion
  • 5.4 Recommendation

REFERENCES

APPENDIX A - “QUESTIONNAIRE”

ABSTRACT

The study was carried out to know the establishing the thrift and credit society Nigeria Bottling Company Owerri, their activities at a general level and to ascertain the benefits derived by members. Investigation revealed that in cooperative, due to their size and ownership structure member suffered a lot of financial especially that of collateral. However, the formation of thrift and credit society as a solution would help the members to save the small amount and out of that poor fund and economic depression loans are made available to members at a low rate of interest.

The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. Primary data were collected from the primary source which questionnaire was used as an instrument of data collection while secondary data were sources from textbooks, journals, newspapers and the internet were employed. The data were presented on a frequency distribution table and analyzed using simple percentage, while hypothesis was tested using chi-square test.

There has been a statement, observation and agreement on the fact that co-operative societies are formed mainly for the betterment of the economic and social conditions of the members whether they operate on isolation or individual. Infact, the strength and weakness of cooperative societies Nigeria can be accessed through their ability to maintain stable prices of essential commodities and service are made available in the right market at the right time in order to meet up with the right demand level of consumer at a stable or reasonable price in the state, they have to be provided with adequate strong facilities, raw material and enough credit facilities.

The study will enable the member to have the basic principle on their finger tip and as business practice, provides loan from members and to enable them tacked their financial problem in the organization. Based on the findings, it was recommended that the state government should help in educating the member of co-operative societies, since some of them are illiterate members, they can be reached through the use of media organizations or through their co-operative societies informing them the importance of co-operative and the need to improve production and marketing of goods and services.

The Impact of Thrift and Credit Cooperative Society on Workers Welfare and Productivity in an Organization (A Case Study of Nbc Thrift and Credit Cooperative Society Owerri)

CHAPTER ONE

1.1 Introduction

Cooperative society is a voluntary association of persons with a common need who come together and pulls their resources together to form a capital base necessary for their members. It has been long being a human characteristics to form association to provide essential commodities shelters employment and other forms of mutual support, mutual benefits derivable by families and individuals working together at harvest or other agreed times control be seen in many communities around the world being a way to recognize manpower to achieve a particular purpose for example building houses, digging wells or other communal facilities.

Membership is open to the resident of a particular locality and it is society that one agree to join nobody persuade anybody to join, this is so because it is the society that will help to achieve people common needs. Individuals always like to associate in as much as association will bring about improvement in their economic activities or such association as may served as a stepping stone in achieving of once desire of started goals. In cooperative individuals usually come in with their personal objective and such objective and such objective must be give to that of organization. Experience shows that cooperative organization are formed by lower and middle income earners with an aim of uplifting their standard of living.

As many people have said that the formation of cooperative is for poor people not for rich, it is true statement because no comfortable person will like to join association of pulling resources together. It is only for those who have common needs that can join this association in order to work collectively to achieve such needs which would not have been easily achieved by individuals.

1.2 Background Of The Study

The idea of forming a thrift and credit cooperative society to help its members to obtain credit and other monetary incentives is a step towards human capital empowerment and assistance. Nigeria Bottling Company Owerri thrift and credit cooperative society has been a cooperative with the passion of assisting its members to alleviate poverty and improve their standard of living through credit grants.

The cooperative has been in existence for over 15 years and has operated with a strong success story. It was formed by a group staff in the Nigeria Bottling Company Owerri plant to assist its members. The idea is a big vision of poverty alleviation. The effect of poverty eradication program should be recommended and organizing the members into self help natures like the thrift and credit cooperative society, as a way of looking forward which is in consonance with government policies and programs is a welcome development.

Today, this organization has been noted a having become one of the fastest and largest growing cooperative society that has continued to empower its members to alleviate their suffering. Therefore, this research would examine the activities of this people was carefully and point out the impacts they have made in helping members who are workers of the company to improve their perception about work and propel them to give in their best thereby yielding greater productivity in the company.

1.3 Statement of the Problem

In cooperative, due to their size and ownership structure member suffered a lot of financial especially that of collateral. However, the formation of thrift and credit society as a solution would help the members to save the small amount and out of that poor fund and economic depression loans are made available to members at a low rate of interest.

The research is however, guide towards finding out the extent the thrift and credit society in business organization would help its members and them of welfare and job productivity. Few of the problems this research would tend to attend to are;

  1. The problems of members not getting job satisfaction because of poverty level in the nation which the cooperative society has been trying to alleviate.
  2. The problem of not getting job security and appropriate welfare from employers and many more.

1.4 Aim and Objectives of the Study

The aim of the study is to know the establishing the thrift and credit society Nigeria Bottling Company Owerri, their activities at a general level and to ascertain the benefits derived by members. In achieving this aim, the following specific objectives were laid out as follows:

  1. To ascertain the kind of service which the organization renders to its members.
  2. To identify the problem of the co-operative thrift and credit society and make recommendation.
  3. To determine the extent of benefits those members of the cooperative derived from it.
  4. Also to find out how the welfare of workers and their productivity has been improve through the activities of cooperatives.

1.5 Research Questions

The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:

  • How will you access the management team of your cooperative society?
  • How do you see the performance of the cooperative society generally?
  • What are the aims and objective of establishing the cooperative society?
  • Do you think we are really benefiting from forming society?
  • If answer is yes what are those benefits?
  • Have you obtained loan from your society?
  • If answer is yes, how long does it take from the time of application to the loan received?
  • How would you rate the treatment received from the officials before obtaining the loan?
  • Do you think that welfare of the members is obviously being taken care of?
  • What are the reasons for joining the society?

1.6 Research Hypothesis

In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.

Hypothesis One

  • H0: There is no significant difference between the impact of Thrift and Credit Cooperative Society
  • H1: There is a significant difference between the impact of Thrift and Credit Cooperative Society

Hypothesis Two

  • H0: There is no significant relationship between Workers Welfare and Productivity in an Organization
  • H1: There is no significant relationship between Workers Welfare and Productivity in an Organization

1.7 Significance Of The Study

First and foremost, this study will be immerse value and benefit to all members of other thrift and credit cooperative societies because the will learn from the case study cooperative society. It will enable the member to have the basic principle on their finger tip and as business practice, provides loan from members and to enable them tacked their financial problem in the organization.

  1. The study will help to show the level of impact the cooperative society has made on members welfare.
  2. It will also show if the improved welfare has impact on job productivity
  3. The study will also x-ray the activities of the cooperative society and the challenges they face.

1.8 Scope of the Study

The study is centered finding the impact of thrift and credit cooperative society on workers welfare and productivity in an organization with a special reference to Nigeria Bottling Company thrift and credit cooperative society Owerri. The study will show their activities and programmes towards improving workers and members welfare.

1.9 Limitation of the Study

A study at this cannot be conducted without encountering some constraints or problems which posed as limitation to this study. In the use of this study the researcher cannot carry out work extensively due to the following reasons problems.

  1. Time Constraint: The allotted time for this study was very short and as a result the researcher has to share the time for this research with that of lecturers.
  2. Financial Constraint: This research involves a lot of money and as a result it was carried out at the time of fuel scarcity. So the money involved in transportation was too much and date to the increase the researcher considered it as a problem.
  3. Data / Information Constraint: The non-cooperative attitude of some members staff and even management of this society made it very difficult for the researcher to collect the necessary information for this at the same time the belief that the researcher will expose same vital secret of this society made it impossible for the researcher to obtained all the needed information for this study.

1.10 Definition of Terms

Cooperative Effect:

This is the benefit which one derives from joining a cooperative society. This cooperative effect could be known or observed by comparing the member’s present economic and social condition with what it was before he joined his cooperative society.

Dividend:

This defines as a share of the net surplus of a registered society divided among its members in proportion to the paid up share capital held by them.

Member Bonus:

This means share of the net surplus of a registered society divided among its members in proportion the volume of business done by them with the society from which the surplus of the society was got.

Thrift Savings:

This is mandatory contribution made by cooperative members from their own private savings. Through thrift, savings, activities cooperatives mobilize the small savings of members thereby contributed to their well being.

Committee:

It is the governing body of a registered society to whom the management of its affairs is entrusted.

…

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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