Co Operative Society

5798 Words Oct 18th, 2011 24 Pages
What Is a cooperative society ?

A cooperative (also co-operative or co-op) is a business organization owned and operated by a group of individuals for their mutual benefit.[1] A cooperative is defined by the International Cooperative Alliance's Statement on the Cooperative Identity as "an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through jointly owned and democratically controlled enterprise".[2] A cooperative may also be defined as a business owned and controlled equally by the people who use its services or by the people who work there.

Origins

Main article: History of the cooperative movement
Cooperation dates back as far as human beings have been
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The principles challenged the idea that a person should be an owner of property before being granted a political voice.[5] Throughout the second half of the nineteenth century (and then repeatedly every 20 years or so) there has been a surge in the number of cooperative organisations, both in commercial practice and civil society, operating to advance democracy and universal suffrage as a political principle.[9] Friendly Societies and consumer cooperatives became the dominant form of organization amongst working people in Anglosphere industrial societies prior to the rise of trade unions and industrial factories. Weinbren reports that by the end of the 19th century, over 80% of British working age men and 90% of Australian working age men were members of one or more Friendly Society.[10]
From the mid-nineteenth century, mutual organisations embraced these ideas in economic enterprises, firstly amongst tradespeople, and later in cooperative stores, educational institutes, financial institutions and industrial enterprises. The common thread (enacted in different ways, and subject to the constraints of various systems of national law) is the principle that an enterprise or association should be owned and controlled by the people it serves, and share any surpluses on the basis of each members' cooperative contribution (as a producer, labourer or