SUCCESS IS NOT SOMETHING THAT COMES NATURALLY: A CASE STUDY REFERENCE TO THE RIDEEGAMA MULTIPURPOSE CO-OPERATIVE SOCIETY

Abstract

The Sri Lankan Co-operative movement has made a significant impact on the public consciousness today. However, there were few numbers of studies in the world that have studied the success models of Co-operatives. The Rideegama multipurpose co-operative society is the best award-winning co-operative society in the Wayamba province. The research problem of the study was “What are the factors behind the success of Rideegama multipurpose co-operative society in Sri Lanka? The main objective of the study is to explore the success factors behind the Rideegama multipurpose co-operative society in Sri Lanka. There was no study conducted in Sri Lanka for the above purpose. Through this study, researchers fill that gap. After reviewing the literature, the researchers conceptualized an inductive type of qualitative research with interpretivism as the research philosophy. The purposive sampling method was followed, and the nine board of directors, Staff members, and the members in the Rideegama multipurpose co-operative society were signified. Data collection was done through the observations and the panel discussion. Researchers used both primary and secondary data to enrich the output. Furthermore, data analysis was done through content analysis. The study found that a solid marketing system, effective cost management system, strong human resource practices, sustainable internal control system, and well-built relationship with stakeholders were the most critical success factors behind the co-operative society in Rideegama. It is recommended for future researchers to increase the data sample and to conduct further research according to a mixed methodology. The findings of this study are useful for policymaking and provide a lesson for unsuccessful co-operative societies in Sri Lanka.