Consumer Co-operative societies: They make their bulk purchases from wholesalers and supply them in small quantities to members at a very reasonable price and also provide various services to the members. Also describe briefly different types of cooperative societies. Let us take a brief look at their features and some types of societies. This lesson will explain the four types of planning used by managers, including strategic, tactical, operational and contingency planning. The profit in it avoids going to the capitalists. The board members are democratically elected by the annual general meeting according to the principle of one member,one vote.Separate legal status:A co-operative organization is a separate legal entity. Besides, above co-operative society, other cooperatives can be established to meet the need of the general public. These co-operative collect a small amount from the member. The legal formalities are very few and simple. It prevails in all the countries, this is almost a universal concept. A cooperative organization is an association of persons usually of limited means who voluntarily joined together to achieve a common economic end through the formation of a democratically controlled organization making equitable ... Types of Co-operative Societies. Under this system, authority flows directly […] ", According to the Nepal Co-operative Act 2048, "A society is constituted in order to provide services and facilities for the economic and social development of its member.”, According to Henry Calvert, "Co-operative is a form of organization wherein persons voluntarily associate together as human beings on the basis of equality for the promotion of the economic interests of themselves.". These co-operative also help the member to get loan facilities at the appropriate rate of interest. Below, we give an explanation of each of these and how they are used in the scope of business law. The main features of co-operative organization are: Voluntary Association: A co-operative society is a voluntary organization of the economically weaker people. The cooperative society is active in all countries worldwide and is represented in all the sectors including agriculture, food, finance, healthcare, etc. It is an association of small producer and manufacturer to sell their output at a fair price. Line organization is the simplest form of organization and is most common among small companies. Organization type is determined by the form of ownership, the owners’ legal liability and their income tax arrangement. Cooperative societies are formed with the aim of helping their members. … View Answer _____ are formed to protect the interest of … Thus, good harmony among the members is ensured.Mutual Relation:The relationship between member is mutually beneficial. A co-operative society is a special type of business organization different from other forms of business organization you have learnt earlier. The poor people are helpless because they don't have economic resources but the development of co-operative organization have provided people some opportunities to collect a small amount from poor and this amount is used to address financial needs of their members. They provide different kinds of services product for their member. They provide a quality product at reasonable price. The organizational structure examples are usually a subject of study so that there can be a perfect structure for a particular company. They come together to promote their output in the market. These organizations are formed to help and promote the living standard of their member. for the benefit of their member. Also describe briefly different types of cooperative societies. To protect the interest of weaker sections, the co-operative society is formed. Based on the nature of activities performed, co-operatives can be categorized as: Consumers’ Co-operative Societies. This co-operative helps their members to develop competitiveness in terms of product as small industries face difficulty to compete in a market because of industrialization. In such manner, every subordinate knows who to report to. They provide different kinds of services product for their member. The word ‘cooperative’ means an organisation in which the stakeholders work with one another. There are different kinds of a co-operative: creditor, co-operative producer, agriculture, marketing society etc. Taylor said that the well qualified foreman required brain, education (special or technical knowledge), manual strength, tact, energy, hon­esty, judgment or common sense and good health. The Companies Act, 1956. Types of Cooperative Societies. The poor people are helpless because they don't have economic resources but the development of co-operative organization provide people opportunities to collect a small amount from poor and this amount is used to address financial needs of their members. A cooperative is a business organizational structure geared toward democratic control and shared decision-making. There is no single format for structuring a cooperative, because every cooperative business is shaped to reflect the concerns and passions of its individual members. March and Simon have stated that “organisation structure consists simply of those aspects of pattern of behaviour in the organisation that are relatively … The hierarchical model is the most popular organizational chart type. The persons making up the group are called members. They are formed to help small manufacturing in purchasing raw materials, processing them to the finished product as well as marketing in a product. Project Organization 5. National Tree Growers Co-operative Federation (NTGCF) It was created in 1988 It aimed at restoring the ecological security of village communities in eco-fragile and marginalised zones. According to Henry Calvert, "Co-operative is a form of organization wherein persons voluntarily associate together as human beings on the basis of equality for the promotion of the economic interests of themselves. Better-farming Society. According to Indian Cooperative Societies Act, 1 9 1 2, each society must transfer at least _____ of its profits to general reserve. They provide different kinds of services product for their member. Types of Cooperative Societies (I) Consumer’s cooperative societies: The consumer cooperative societies are formed to protect the interests of consumers. Explain the features of co-operative organization. Committee Organisation. On the basis of activity involvement, co-operatives are classified into different types of co-operative are explained below: Industrial Co-operative Society:They are the association of producer who are engaged in manufacturing. Considering how vital an orga… The main differences between Cooperative Organisation and Company Organisation are given below: Governing statute: A company is governed by the Companies Act, 1956 while a co-operative organisation is subject to the provisions of the Cooperative Societies Act, 1912 or State Cooperative Societies Acts. Cooperative form of organisation offers the following advantages: 1. The most appropriate form is determined by weighing the advantages and disadvantages of each type of organization against one’s own requirements. It clearly identifies authority, responsibility and accountability at each level.These relationships in the hiera… Regulating Act The Cooperative Societies Act, 1912 or the State Cooperative Societies Act. Members of the society raise the capital within themselves. There are different types of business organisations, one such form is of cooperative society. Type # 1. Ltd., 2010. Here’s an overview of the types of co-operatives. This co-operative consults about consumer health and price of a product. Regulated by the Reserve Bank of India, they are governed by the Banking Regulations Act 1949 and banking laws (co … Line and Staff Organisation 4. They help their members in getting improved seeds, regular fertilizers, technological assistance, modern tools as well as equipment. Chapter: 11th Commerce : Cooperative Organisation Cooperative Organisation | Commerce | Study Material, Lecturing Notes, Assignment, Reference, Wiki description explanation, brief detail | Posted On : 07.07.2018 02:37 am . O A cooperative is a voluntary association of individuals with a common objective and bond of interest 16.
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