Cooperative Organisation — Chapter Summary
ICSE · Class 11 · Commerce
Summary of Cooperative Organisation for ICSE Class 11 Commerce. Key concepts: A cooperative organisation is, Prof and Membership in a cooperative.
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Overview
Cooperative organisation is a form of business organisation based on voluntary association, equality, mutual help, and democratic control. Its main purpose is to protect and promote the economic interests of members, especially people of moderate means. The motive of production and distribution is s
Key Concepts
A cooperative organisation is a voluntary
A cooperative organisation is a voluntary association of persons who join together for mutual help and common economic benefit. It is based on equalit
Prof
Prof. E.H. Calvert described it as a voluntary association on the basis of equality for promoting economic interests. The International Labour Organis
Membership in a cooperative society
Membership in a cooperative society is open and unrestricted. No one is forced to join or remain a member. There is no bar on caste, creed, or religio
The management of a cooperative society
The management of a cooperative society is elected through the one man one vote system. Every member has equal voting power, whatever the number of sh
The liability of members is restricted
The liability of members is restricted to the extent of subscribed shares, and the word limited must be used after the society’s name for this purpose
Learning Objectives
- Understand the meaning and definitions of cooperative organisation
- Identify the essential features and principles of a cooperative society
- Differentiate between a joint stock company and a cooperative society
- Recognise the main types of cooperative organisations
- Explain the advantages of cooperative organisation
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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