Cooperative company advantages and disadvantages
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The important among the disadvantages are: Lack of Secrecy: A cooperative society has to submit its annual reports and accounts with the Registrar of Cooperative Societies. Lack of Business Acumen: The member of cooperative societies generally lack business acumen. Lack of Interest: Corruption: Lack of Mutual Interest:
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some of the advantages of cooperative company are :
Cooperative organization can be owned and controlled by members. It has democratic control, one member, one vote. This type of organization has a limited liability.
Disadvantages:
It requires members to participate for success. It entails longer decision making process. Extensive record keeping is necessary. It has less incentive and there's also a possibility of development of conflict between members.
Cooperative organization can be owned and controlled by members. It has democratic control, one member, one vote. This type of organization has a limited liability.
Disadvantages:
It requires members to participate for success. It entails longer decision making process. Extensive record keeping is necessary. It has less incentive and there's also a possibility of development of conflict between members.
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