What is the purpose of consumer cooperative?

What is the purpose of consumer cooperative?

It’s a business owned by its customers, for the mutual benefit of its customers. The purpose of consumer cooperatives is to offer goods and services at the lowest cost to the customer-owners — in contrast to companies that serve the interests of stockholders.

What are the main features of consumer cooperative?

(1) A consumers’ co-operative society is a voluntary association of persons and is registered under the Co-operative Societies Act. (2) The membership of these stores is open to all the adults. (3) There is a democratic control and management of the affairs of these societies.

What are the role of cooperative society in economic development?

With regard to economic and social development, cooperatives promote the “fullest participation of all people” and facilitate more equitable distribution of the benefits of globalization. They contribute to sustainable human development and have an important role to play in combating social exclusion.

How is consumer cooperative society formed?

A Co-operative Society can be formed as per the provisions of the Co-operative Societies Act, 1912. At least ten persons above of 18 years, having the capacity to enter into a contract with common economic objectives, like farming, weaving, consuming, etc. can form a Co-operative Society.

What are the aims and objectives of cooperative society?

Objectives, Advantages Co-operative Society The purpose behind a cooperative society is to provide goods and services to the consumers at a reasonable cost with the aim to encourage them towards productivity, savings, investments and equal distribution of surplus.

What is the main motive of cooperative society?

The basic motive of forming a cooperative society is providing service to its members through its activities rather than earning profit from these activities. If the society earns profit, it is distributed among the members as dividend in conformity with the bye-laws of the society.

What are the functions and objectives of cooperatives?

The main purpose of a Co-operative Society is to provide service to its members. For example, in a Consumer Co- operative Store, goods are sold to its members at a reasonable price by retaining a small margin of profit. It also provides better quality goods to its members and the general public.

What is the purpose of forming a cooperative society?

What is the main objective of cooperative?

The purpose of a cooperative is to realize the economic, cultural and social needs of the organization’s members and its surrounding community. Cooperatives often have a strong commitment to their community and a focus on strengthening the community they exist in or serve.

What are objective of cooperation?

Cooperative organizations basically work to provide self-help and mutual help. The primary objective of any cooperative organization is to provide service to its members. This is totally different from the other forms of organization because others work to gain profits.

What is Consumer cooperative society?

A consumers’ co-operative is an enterprise owned by consumers and managed democratically which aims at fulfilling the needs and aspirations of their members. Consumers’ cooperatives often take the form of retail outlets owned and operated by their consumers, such as food co-ops.

What are the characteristics of a consumer cooperative society?

Consumer Cooperative Society: Consumer cooperative societies are formed with the objective of protecting the consumer interests. Individuals who wish to purchase products at reasonable rates most likely join consumer cooperative societies.

What are the objectives of a co-operative Society?

Co-operative societies have a lot of objectives: To provide services and not run to earn any profit, To help those who are in need, not compete To undertake all the activities with keeping in mind the aim which is, the benefit of others.

What are the different types of cooperative societies?

Following are some of the types of cooperative societies: 1. Consumer Cooperative Society: Consumer cooperative societies are formed with the objective of protecting the consumer interests. Individuals who wish to purchase products at reasonable rates most likely join consumer cooperative societies.

What makes a consumer cooperative a free enterprise?

It is a form of free enterprise that is oriented toward service rather than pecuniary profit. The customers or consumers of the goods and/or services the business provides are often also the individuals who have provided the capital required to launch or purchase that enterprise.