Cooperative Organization
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Cooperative Organization
The forms of business ownership and organization discussed so far are run basically with a view to make profit. The co-operative form of organization is different from the rest insofar as it is not set up with profit as the guiding motive but with the purpose of rendering service to its members in particular and to the society in general. Co-operative organizations have emerged primarily to protect and safeguard the economic interest of the relatively weaker section of the society in the face of exploitation by businessmen whose primary motive is profit maximization. The essential ingredient of a co-operative organization is service, co-operation and self help. A co-operative organization rests on the voluntary association of persons joining together organization on equal basis for the fulfillment of their economic and other interests.
Definition of Co-operative Organization
According to the International Labour Office, a co-operative organization is ‘an association of persons, usually of limited means, who have voluntarily joined together to achieve a common economic end, through the formation of democratically controlled business organization, making equitable contributions to the capital required and accepting a fair share of risks and benefits of the undertakings.”
A co-operative organization is a voluntary association of individuals, generally belonging to one homogeneous group, who associate together to promote their common interests. The objects of a co-operative organization are economic in character. It is generally formed and registered under the Co-operative Societies Act, 1912 by the individuals of moderate means to protect their economic interests. This form of organization can be applied to every conceivable form of economic activity. Thus, the scope of co-operative form of organization is as wide as the economic life of the members of community. Today there are a large number of credit societies, retail stores, building societies, marketing societies and producers’ societies which are formed and run on the basis of co-operation.
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Definition of Co-operative Organization
According to the International Labour Office, a co-operative organization is ‘an association of persons, usually of limited means, who have voluntarily joined together to achieve a common economic end, through the formation of democratically controlled business organization, making equitable contributions to the capital required and accepting a fair share of risks and benefits of the undertakings.”
A co-operative organization is a voluntary association of individuals, generally belonging to one homogeneous group, who associate together to promote their common interests. The objects of a co-operative organization are economic in character. It is generally formed and registered under the Co-operative Societies Act, 1912 by the individuals of moderate means to protect their economic interests. This form of organization can be applied to every conceivable form of economic activity. Thus, the scope of co-operative form of organization is as wide as the economic life of the members of community. Today there are a large number of credit societies, retail stores, building societies, marketing societies and producers’ societies which are formed and run on the basis of co-operation.
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