Cooperative Organisation — Flashcards

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A cooperative organisation is a voluntary association of persons who join together for mutual help. Its main idea is cooperation, equal treatment, and working for common economic interests rather than…

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The word cooperative comes from two parts: co and operative. 'Co' means together and 'operative' means to work. So, cooperative means working together for a common purpose.

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Prof. E.H. Calvert defined cooperative organisation as a form of organisation in which persons voluntarily associate together as human beings on a basis of equality for the promotion of their economic…

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The International Labour Organisation defined a cooperative as an association of persons, usually of limited means, who voluntarily join together to achieve a common economic end through a democratica…

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This means that people can help themselves better when they work together in an organised way. Cooperation turns individual effort into stronger collective effort.

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The main motive is service rather than profit. A cooperative society is formed to serve members and protect their economic interests, not to maximise profit.

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Membership is open and unrestricted because any person with a common interest can join, and there is no bar on caste, creed, or religion. Members are also free to leave after giving due notice.

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Democratic management means that members elect a managing body to control the society. The voting system follows 'one man one vote', so every member gets equal voting power regardless of shareholding.