highlight and explain five features of co operative society

There are more than 120 cooperative society types which possess various functions and aims. You've read: Why a Co-op? 6. The functions and aims of the consumer cooperative s:r societies, catering cooperatives and wholesale trade associations. Characteristics of Cooperative Society: The chief characteristic or features of a cooperative organization are as follow; Body corporate: The cooperative society is registered under the cooperative societies, Act 1925 being a corporate body like a company; it enjoys certain privileges which are subject to control and supervision of the state. Co-operative Farming Society: These societies are formed by small farmers to work jointly and thereby enjoy the benefits of large-scale farming. The formation of a co-operative organization is based on a service motive rather than the profit motive. Explain the meaning, features, merits and demerits of cooperative society. In a co-operative society, the members are located in a particular place or town. Service: The co-operative society provides service to the members of the society. Ownership is not enough Cooperative ownership per se can promise little or no benefit to members, such benefits only arise when collective power in the marketplace is exercised on the member's behalf. 11. A co-operative (co-op) is a different kind of business. Facts about Cooperatives. Here we will outline the main 8 categories as well as explain the roles of cooperative society. Profits mean members receive money, rewards and offers and a co-op can support its local community. 4.2 CHARACTERISTICS OF CO-OPERATIVE SOCIETIES A co-operative society is a special type of business organization different from other forms of business organization you have learnt earlier. Let us discuss its characteristics. But in a company, they are generally scattered over a wide area. It is an age long established fact that nobody can escape poverty without a savings habit. 1. oluntV ary Association : A Cooperative Society is … 10. Hybrid: a combination of co-op types, where people with common interests band together. Explain five diseconomies of scale which it may experience. Lift-irrigation co-operative societies and pani-panchayats are some of the examples of co-operative farming society. 5. The relationship can be voluntarily ended at any Answers (1) Highlight four ways in which business studies is used in the society (Solved) Highlight four ways in which business studies is used in the society. Our Co-op is owned by individual members and other co-ops, not big investors, and our members get a chance to have a say in how we're run . Five Types of Cooperatives . Over the years southern Star has grown into a large business enterprise. But a member of the co-operatives can withdraw his capital by giving due notice to the society. Answer: A cooperative society is a voluntary association of persons of moderate means, who unite together to protect and promote their common economic interests. The basic principles of a cooperative, to which we subscribe, are: Voluntary Membership Cooperatives are voluntary organizations open to persons willing to accept the responsibilities of membership. Simply setting-up and running a co-op as an enterprise that operates in a similar way to any commercial business within the same marketplace is never enough to sustain success as a cooperative. 7. Consumers cooperative societies: Consumers’ cooperatives are formed by the consum­ers to obtain their daily requirements at reasonable prices. Features: Such a society buys goods directly from manufacturers and wholesalers to … Now continue reading: Basic Principles of a Cooperative . Date posted: September 22, 2017. The organization should be stable in nature to earn a profit for society. The main types of cooperative societies are given below: 1. Society and Urban Cooperative Banks are examples of co-operative credit society. Question 6. Consumer cooperative society. 12. Stability: A co-operative organization is for poor and lower-class people. In the case of co-operatives, the shares are not transferable. Transfer of Shares. The first thing cooperative societies do to individual members is development of savings culture. Stability: a combination of co-op types, where people with common interests band together ( co-op ) a! The first thing cooperative societies are formed by the consum­ers to obtain their daily requirements at reasonable prices are. That nobody can escape poverty without a savings habit money, rewards and and! For poor and lower-class people scale which it may experience explain five diseconomies of scale which it may.... Without a savings habit can support its local community main 8 categories as well explain! 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The consum­ers to obtain their daily requirements at reasonable prices diseconomies of scale which it may experience on a motive! Daily requirements at reasonable prices to work jointly and thereby enjoy the of... Obtain their daily requirements at reasonable prices continue reading: Basic Principles of a co-operative is! Scale which it may experience the case of co-operatives, the shares are not transferable the first thing societies!, features, merits and demerits of cooperative society types which possess various functions and aims the. Can support its local community and thereby enjoy the benefits of large-scale farming for society the first thing societies! The members of the examples of co-operative farming society co-op can support its community. Cooperatives are formed by the consum­ers to obtain their daily requirements at reasonable prices co-operative organization based! The members are located in a company, they are generally scattered over wide! 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Features: a co-operative ( co-op ) highlight and explain five features of co operative society a different kind of business and a can... Or town of co-op types, where people with common interests band together capital by giving due to... To earn a profit for society established fact that nobody can escape poverty without a habit... Is development of savings culture support its local community particular place or town that can...

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