Saturday , 20 December 2014

Explain the two main objectives of a cooperative society

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Explain the two main objectives of a cooperative society

Equal Rights

Each member of the society has an equal right to vote and ownership. Each shareholder has one vote.

Welfare Main Objective

Its main objective is to provide goods and services to its members at lower price.

Or

primary objective of every cooperative is to provide goods and services to its members and thus enable them to attain increased income and savings, investments, productivity, and purchasing power and promote among them equitable distribution of net surplus through maximum utilization of economics of scale, cost-sharing and risk-sharing without, however, conducting the affairs of the cooperative for eleemosynary or charitable purposes.

A cooperative shall provide maximum economic benefits to its members, teach those efficient ways of doing thing in a cooperative manner, and propagate cooperative practices and new ideas in business and management and allow the lower income groups to increase their ownership in the wealth of this nation.

Source: http://wiki.answers.com/Q/What_is_the_objective_of_cooperative

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