Co-operatives Socioeconomic Role, Entrepreneurial Ecosystems Approach and Sustainable Development

Abstract

Globally, a lot of attention has been focused on the threat of achieving sustainable development. Although co operatives play a critical role, there has been scarcity of clear information on the link between the two enormous issues. This study aimed to contribute to the debate by exploring the relationship between co-operatives socioeconomic role, entrepreneurial ecosystems approach and sustainable development. The study was anchored on entrepreneurship ecosystems approach framework which comprises of an array of connected actors, institutions, organizations and processes governing activities of enterprises. An ecosystem is a geographic environment where animals, plants and organisms including weather and landscape interact together to make a bubble of life. Ecosystems have living parts, biotic as well as nonliving parts abiotic. Co-operatives in socioeconomic role addresses market failures, empower marginalized people and create employment opportunities. A case study was carried using purposive sampling techniques on secondary data drawn from a body of knowledge in the literature reviewed. Data were analyzed with the aid of content analysis. The findings show a positive significant relationship between co- operatives in socioeconomic role and sustainable development when entrepreneurial approach framework is positioned as a moderator. Specifically, the moderating variable indicators were entrepreneurial actors, policy makers and processes. The study concludes that embracing entrepreneurial approach framework on the co-operatives in socioeconomic role context is likely to improve the co-operatives potential and reduce the odds of compromising the needs of the future generations. In view of these findings, the study recommended entrepreneurial approach framework to co operative managers, policy makers and stakeholders to steer co-operatives contribution to sustainable development.