Fathin Mufid Akram

Cooperatives as a Pillar of Economic and Social Empowerment: A Systematic Literature Review

Introduction

Cooperatives as a pillar of economic and social empowerment: a systematic literature review. Learn how cooperatives drive economic & social empowerment. This SLR covers their impact on income, jobs, social welfare, women, and strategies for sustainable, inclusive prosperity.

Abstract

Cooperatives have an important role in improving the economic and social welfare of their members. Through a Systematic Literature Review (SLR) using the PRISMA method, this study found that cooperatives contribute to increased income, access to capital, job creation, and the growth of independent businesses. In addition, cooperatives also strengthen social relations, empower women, expand access to education, and build solidarity in the community. Co-operatives provide a collaborative platform for their members to support each other and share resources to achieve shared prosperity. However, cooperatives still face various challenges, including regulatory constraints, limited access to finance, and low managerial skills in business management. To optimise their role, innovative strategies such as increasing cooperative literacy, utilising digital technology, and actively engaging stakeholders are needed. Thus, cooperatives not only function as economic instruments, but also as key elements in creating sustainable and inclusive social welfare for all their members.    

Review

The submitted work, titled "Cooperatives as a Pillar of Economic and Social Empowerment: A Systematic Literature Review," addresses a highly pertinent topic concerning the role of cooperatives in fostering sustainable development. Utilizing a robust Systematic Literature Review (SLR) methodology, specifically adhering to the PRISMA guidelines, the study effectively synthesizes existing literature to demonstrate cooperatives' multi-faceted contributions. The abstract clearly outlines key findings, highlighting their positive impact on economic indicators such as increased income, enhanced access to capital, and job creation, alongside significant social benefits including strengthened community relations, women's empowerment, expanded educational access, and solidarity building. This comprehensive overview underscores the collaborative and resource-sharing platform that cooperatives provide. A significant strength of this review lies in its systematic approach, which lends credibility to its conclusions by rigorously mapping the existing body of knowledge. By explicitly identifying both economic and social empowerment aspects, the study offers a holistic perspective on cooperatives' societal value, moving beyond a purely financial lens. However, the abstract also forthrightly acknowledges the persistent challenges faced by cooperatives, including restrictive regulatory environments, limited access to crucial finance, and insufficient managerial competencies. This balanced presentation, detailing both achievements and hurdles, is crucial for a realistic understanding of the sector's current state and future potential. Building upon the identified challenges, the review judiciously proposes several innovative strategies, such as enhancing cooperative literacy, leveraging digital technologies, and actively engaging a diverse range of stakeholders. While these recommendations are highly relevant, future research could further explore the practical implementation and comparative effectiveness of these strategies across different cooperative models or geographical contexts. Overall, this systematic review offers a valuable contribution to the discourse on cooperative development, serving as an important foundation for policymakers and practitioners aiming to optimize cooperatives' instrumental role in creating equitable and sustainable welfare for their members.

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