Tamilnadu Samacheer Kalvi 11th Commerce Notes Chapter 7 Cooperative Organisation Notes

→ A cooperative is a private business organization that is owned and controlled by the people who use its products, supplies or services.

→ The cooperative movement was started by Robert Owen, in the year 1844.

→ Co-operation is a form of organization in which persons voluntarily associate together as human beings on the basis of equality for the promotion of the economic interests of themselves. -H. Calvert

→ Co-operation is “better farming, better business and better living”. – Sir Horace Plunkett

→ Cooperatives are autonomous, self-help organisations controlled by their members.

→ Cooperatives serve their members most effectively and strengthen the cooperative movement , by working together through local, national, regional and international structures.

→ Cooperative society foundation is laid down on mutual confidence.

→ A co-operative society is run on the principle of‘one man one vote’.

→ Co-operative societies have limited membership and are promoted by the weaker sections.

→ Co-operative societies give loans only for productive purposes and not for personal or family expenses.

→ Maintenance of business secrets is the key for the competitiveness of any business organization.

→ Consumer cooperatives are organized by consumers that want to achieve better prices or quality in the goods or services they purchase.

→ Producer cooperatives are created by producers and owned & operated by producers.

→ Cooperative marketing societies are associations of small producers formed for the purpose of marketing their produce.

→ Cooperative credit societies are societies formed for providing short-term financial help to their members.

→ Housing cooperative societies are meant to provide residential accommodation to their members on ownership basis or on rent.

→ In a cooperative farming society, the office bearers look after the proper cultivation of new farm that emerges after the land of various farmers have been pooled.

Samacheer Kalvi 11th Commerce Notes