EFFECTIVE MANAGEMENT OF COOPERATIVE SOCIETY AND STAKEHOLDERS'WELL-BEING

Abstract

development, especially in grassroots communities. This study investigates the effectiveness of cooperative
society management and its impact on stakeholders’ well-being in Akwa Ibom State, Nigeria, focusing on
leadership practices, financial management, and stakeholder engagement. Objective: The study aimed to
examine how leadership practices, financial management, and stakeholder engagement influence the socioeconomic well-being of members of cooperative societies. Methodology: A descriptive survey research
design was adopted to systematically collect and analyze data without manipulating variables. The study
population comprised registered members and executives of cooperative societies across Akwa Ibom State.
Using a multi-stage sampling technique, 687 respondents were selected from 60 cooperative societies
across four purposively chosen Local Government Areas (Uyo, Eket, Ikot Ekpene, and Oron). The main
instrument for data collection was a structured questionnaire titled Cooperative Management and
Stakeholder Well-being Questionnaire (CMSWQ). Content and face validity were ensured by expert review,
while a pilot test yielded a Cronbach Alpha coefficient of 0.86, confirming the instrument's reliability. Data
were collected over six weeks and analyzed using descriptive statistics, Pearson Product Moment
Correlation, and regression analysis via SPSS v26. The significance level was set at 0.05.
Findings/Conclusion: The results showed that effective leadership, sound financial management, and active
stakeholder engagement significantly influence stakeholders’ well-being and contribute to the performance
and sustainability of cooperative societies in the state. The study underscores the need for strengthened
management practices to enhance cooperative efficiency and stakeholder satisfaction.