PAPER DELIVERED BY LASCOFED PRESIDENT, MR. ORIYOMI AYEOLA AT 2017 AIRMAS STUDENT WEEK, BABCOCK UNIVERSITY

THE ROLE OF INFORMATION MANAGEMENT IN COOPERATIVE ORGANISATIONS

BEING A PAPER DELIVERED BY MR ORIYOMI AYEOLA,

PRESIDENT, LAGOS STATE COOPERATIVE FEDERATION (LASCOFED) AT THE

2017 AIRMAS STUDENT WEEK HELD ON 22ND MARCH 2017 AT BABCOCK UNIVERSITY

 1.0    OBJECTIVES OF THE PAPER

  1. Definition of  key words; Cooperatives, Information Management
  2. To highlight formation of cooperatives and various types of cooperatives
  3. To outline the importance of Information Management to Cooperative operations.
  4. To highlight career opportunities for information managers in the cooperative sector

 

2.0      INTRODUCTION

Cooperative is almost as old as human existence and has metamorphosed over the years.  The changes are reflected in the types of cooperatives that are established, membership composition, management and leadership structures as well as the ways in which information are gathered, stored and used for cooperative operations.

The International Cooperative Alliance (ICA) puts premium on information as the 5th Principle of the Cooperative Movement is Education, Training and Information.

This paper aims to examine the topic by first looking at the key words after which we will consider the subject-matter and conclude by highlighting the opportunities for Information Resources Managers in Cooperative Organisations.

3.0      Definition of Key Words

Cooperative

According to the International Cooperative Alliance, cooperative is 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.

Information Management

According to Wikipedia, Information management (IM) is the collection and management of information from one or more sources and the distribution of that information to one or more audiences. This sometimes involves those who have a stake in, or a right to that information.

The Association for Information and Image Management (AIIM) agrees with the above definition and asserts that the focus of IM is the ability of organizations to capture, manage, preserve, store and deliver the right information to the right people at the right time. Therefore the focus of this paper is to examine the influence of Information Management in cooperative operations and the opportunities for Information Management personnel in cooperative.

4.0      TYPES OF COOPERATIVE SOCIETIES

Today, cooperatives abound in practically all sectors of the economy and it is used as a vehicle for the alleviation of poverty. The following are some of the types of cooperatives that exist;

  1. Cooperative thrift and Credit Societies (CTCS)
  2. Consumer Cooperatives
  3. Multipurpose Cooperative Societies
  4. Housing Cooperative Societies
  5. Agricultural Cooperatives.
  6. Production Cooperative Societies
  7. Artisanal Cooperative Societies
  8. Marketing Cooperatives
  • BASIC REQUIREMENTS FOR THE ESTABLISHMENT OF A COOPERATIVE SOCIETY
  1. Prospective members should have a common bond
  2. Minimum of 10 persons.
  3. Entrance fee must be paid by all foundation members and subsequently by all prospective members before the members name is entered in the register of members.
  4. Drafting of Bye laws for the society stating the objects of the society.
  5. Election of protem Executives
  6. Application for registration of the cooperative

6.0      Advantages of membership of cooperative societies

  1. Access to funds with less stringent conditions than obtainable in banks for start ups and improving of businesses. Thus encouraging SME.
  2. Personal welfare development
  3. Create employment to the populace through various cooperative enterprises.
  4. Contribute to the GDP
  5. Partake in decision making, use the services of the cooperative and enjoy dividend payment.
  6. Voluntary membership

7.0      IMPORTANCE OF INFORMATION MANAGEMENT TO COOPERATIVE OPERATIONS

  1. Timely delivery of services to members
  2. Minimises errors and omissions
  • Timely rendition of accounts to members and other stakeholders. It assists in the preparation and presentation of the Annual Reports and Accounts.
  1. Helps in making informed investment and other decisions
  2. Dissemination of information to members
  3. Marketing of products and services of the cooperative.
  • Makes statistical data readily available
  • Assists in tracking assets of the society

8.0      CAREER OPPORTUNITIES FOR INFORMATION MANAGERS IN COOPERATIVE ORGANISATIONS

  1. Website design and management
  2. Editing of periodicals or the cooperative bulletins
  3. Development of cooperative management applications
  4. Data Entry Officers
  5. Serving as information personnel

9.0      CONCLUSION

The relationship between cooperative and information management is a symbiotic one. Information management is important if the cooperative society is to meet its objective of improving the welfare of members. In like manner, cooperative is a vehicle that can be used to better the lot of the citizens.

Thank you.