Write in brief about Co-operative organizations?
Answers
Co-operative society as a form of business organization has the following advantages:
It is easy to form as no legal formalities are required for formation.
It is managed democratically as it is based on the principles of “one man one vote”.
Its membership is open to each and every person irrespective of caste and creed.
It has economical operation and as such management cost is less.
The liability of members is limited up to the extent of shares purchased.
It generally caters the needs of poor people.
CO - OPERATIVE ORGANISATION
A cooperative organisation form of business is a different form of business enterprise.
"Cooperative organisation is a society which has its objectives for the promotion of economic interest of its members in accordance with Cooperative principles. " ----- H.C. Calvert
FEATURES OF CO OPERATIVE ORGANISATION
- Voluntary Association
- Equal Voting Rights
- Service Motive
- Separate Legal Entity
- Distribution of Surplus