CO-OPERATIVE SOCIETIES

Junior Secondary  School

Business Studies JSS 1(Basic 7)

Second Term Lesson Notes

Subject : 

Business Studies

Term :

SECOND TERM

Week:

Week 6

Class :

JSS 1

Topic :

CO-OPERATIVE SOCIETIES

Previous lesson : 

The pupils have previous knowledge of

 PARTNERSHIP AS FORM OF BUSINESS OWNERSHIP

that was taught as a topic during the last lesson.

Behavioural objectives :

At the end of the lesson, the pupils should be able to

• Say the meaning of co-operative Societies
• Explain how co-operative societies are formed
• List the objectives of forming co-operative societies
• Mention the merits and demerits of co-operative societies

Instructional Materials :

• Wall charts
• Pictures
• Related Online Video
• Flash Cards

Methods of Teaching :

• Class Discussion
• Group Discussion
• Asking Questions
• Explanation
• Role Modelling
• Role Delegation

Reference Materials :

• Scheme of Work
• Online Information
• Textbooks
• Workbooks
• 9 Year Basic Education Curriculum
• Workbooks

Content 

1. Meaning of Co-operative Societies
2. Types of Co-operative Societies
3. Advantages and Disadvantages of Co-operative Societies

Meaning of Cooperative Societies

A cooperative society exists when groups of workers, individuals, organizations, farmers or communities pull their resources together towards a common goal. Unlike the partnership form of business organisation, there is no maximum number of persons that can form a co-operative society. The main purpose of the cooperative society is to sell goods and services to members at a cheap rate, and do business together for profit purpose and share the profits among the members.

Types of Cooperative Societies

The common types of cooperative societies are:

(a) Producers Cooperative

(b) Consumers Cooperative

(a) Producers Cooperative

Producers form a common association in order to sell their products in a uniform price instead of selling individually, e.g. producers of yam, garri, cocoa etc may form a cooperative society for the selling of their products.

(b) Consumers Cooperative

In consumers’ cooperative, the members are consumers who contribute funds and buy goods in large quantities from the producers and sell in retail prices to members at a reduced and cheaper rate.

Advantages of Cooperative Societies

1. Members have equal rights and votes.
2. Prices are lower as they buy in bulk.
3. Benefits of repayment of capital to any member who withdraws.
4. Profits are shared in proportion to contribution.
5. Members are allowed to pay back debts in installments.

Disadvantages of Cooperative Societies

1. Election of unqualified committee members may lead to poor management of society’s fund.
2. Calculation of dividends to members is always a problem.
3. Non-members may be reluctant to engage in marketing activities with the cooperative.
4. Decision making process is longer compared to sole proprietorship.
5. Lack of proper planning and ignorance may affect the success of the cooperative society.

Presentation

The topic is presented step by step

Step 1:

The class teacher revises the previous topics

Step 2.

He introduces the new topic

Step 3:

The class teacher allows the pupils to give their own examples and he corrects them when the needs arise

EVALUATION

1. What do you understand by the term Cooperative Society?
2. Mention three advantages of Cooperative Society.
3. Write out three demerits of co-operative societies
4. Mention two types of co-operative societies that you know

Conclusion

The class teacher wraps up or conclude the lesson by giving out short note to summarize the topic that he or she has just taught.

The class teacher also goes round to make sure that the notes are well copied or well written by the pupils.

He or she does the necessary corrections when and where  the needs arise.