Gokaldas, in order to promote local craftsmen of Gujarat, formed an organization where in the persons voluntarily associate themselves to promote common economic interest. The basic purpose of this organization was to help these craftsmen to find market for their products. It had a managing committee that was elected on the basis of ‘one member one vote’. On the basis of the given information, answer the following questions: (a) Identify the form of Business organisation set up by Gopaldas. (4) (b) Explain any three features of this form of organisation.
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Answer:
Co-operative organization
Features:
A. "Formed an organization where in the persons voluntarily associate" voluntary association anybody can become a member of a co-operative society.
B. "the purpose of this organization is to help these craftsmen to find market for their products" service motive the main objective of a co-operative society is to provide service to it's members and not to earn profits.
C. "managing committee that was elected in the basis of one member one vote" democratic management the management of the co-operative society is democratically elected.
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