– Cooperative Society existence isn’t affected by death, bankruptcy or insanity of the members. Each member of the society complements the other which reflects the importance of this social value and the importance of cooperation in life. 5. 9. A cooperative society is an organization which is owned and run jointly by its members, who share the profits or benefits. BENEFITS OF CO-OPERATIVES Do your self a favour, join a co-operative from adult literacy to busin Introduction A cooperative is a form of business that benefits members, communities and the nation in a number of ways. It’s high time that all managers start to realize that it is … This results in surrender of competitive advantage. Cooperation will make a group, organization or country attain their goals The membership fee is less as most members belong to middle and low income groups. Moreover, there is no need for massive advertisement to promote the stock. Every member is free to inspect the books and records of the society. For this reason, it is a durable enterprise. The various merits of a cooperative society form of organisation are described below: 1. All these legal formalities take a lot of time and consequently inhibit efficiency. Stability 6. Economical – Registration of cooperative society is exempt from registration fees. This recognises the value of economic justice and presents concentration of wealth in a few hands. Minimum 10 adults are needed to form a cooperative society. The members who offer honorary services on a voluntary basis are generally not professionally equipped to handle the management functions effectively. The personal assets of the members cannot be used to settle the claims of the business against outsiders. Social Benefits – Cooperative societies inculcate a feeling of brotherhood amongst the members. – A cooperative society is constituted on the principle of ‘one man one vote’. There is no loss due to bad debts because the goods and services are being sold in cash. Presents Speculation – The membership of the society is always open. (ii) Limited Liability – The liability of members is limited to the extent of their capital contribution. Cash Trading 8. It leads to difficulties in decision-making. Weightage to Personal Gains 10. The shares of co­operative society are not sold at the rates higher than their par values. The low rate of dividend offered on investment also acts as an obstacle in attracting membership or more capital from the members. Economical Operations- The operation of a cooperative society is quite economical due to elimination of middlemen and the voluntary services provided by its members. Cooperation generally means working together for the pursuit of a com­mon goal. – A cooperative society seeks to work towards social welfare and follow a democratic pattern, it gets constant support from the government in the form of taxes, subsidies, loan on interest is low, etc. The daily operations of a cooperative society are subject to government rules and regulations. Management Commitment- Members elect their representatives to manage the affairs of the society. Lack of Competition 7. The members are either customers or producers or both, so it reduces the risk of bad debts also. The members of cooperative society come from different walks of life. The face value of shares is also very nominal. These persons need credit facilities. At the national level, cooperation among countries can support and reinforce national efforts for health development and also enrich perspectives on best practices and lessons learnt in other countries. The funds and time required is minimal to get the society registered. Difference of opinion – Sometimes, the conflicts among the members on various issues may have an adverse effect on the working of the business. 9. There is very little that the members can actually do on their own without consulting the Government. 10. The members can independently audit the books and records. Government Patronage- Government gives all kinds of help to co-operatives, such as loans at lower rates of interest and relief in taxation. Irrespective of the amount of capital contribution by a member, each member is entitled to equal voting rights. Corruption 12. Cooperative societies enjoy the privilege of paying no taxes to the government on their earnings. Thus we often face hard choices when it comes to determining the structure of our social institutions, along with significant social conflict over the type of coop-erative benefits that should be accorded priority. The situation where people refuse to work together to achieve common interest is (a) cooperation (b) association (c) fight (d) non-cooperation. Moreover, all the related matters are discussed openly in the meetings. Cooperative societies follow conventional modes of sale. Benefit: Drawing from a culturally diverse talent pool allows an organization to attract and retain the best talent. The principle underlying a co-operative organization is mutual help, i.e., “each for all and all for each”. Democratic Management- A cooperative society is managed in a democratic manner. 6. Due to lack of secrecy in the business affairs, a number of loopholes are created within the organisation. Essay on Cooperation – Kind of Social Interaction – ‘Cooperation’ is one of most basic, pervasive and continuous, social processes. Only ten adult persons having common interest are required to form a cooperative society. – The liability of members is limited to the extent of their capital contribution. They aim to provide finer goods and services at reasonable rates.