7. 1. oluntV ary Association : A Cooperative Society is … Hybrid: a combination of co-op types, where people with common interests band together. Such a society buys goods directly from manufacturers and wholesalers to … Society and Urban Cooperative Banks are examples of co-operative credit society. In the case of co-operatives, the shares are not transferable. A co-operative (co-op) is a different kind of business. Let us discuss its characteristics. The organization should be stable in nature to earn a profit for society. Date posted: September 22, 2017. There are more than 120 cooperative society types which possess various functions and aims. Over the years southern Star has grown into a large business enterprise. Our Co-op is owned by individual members and other co-ops, not big investors, and our members get a chance to have a say in how we're run . You've read: Why a Co-op? Now continue reading: Basic Principles of a Cooperative . Facts about Cooperatives. Explain the meaning, features, merits and demerits of cooperative society. Characteristics of Cooperative Society: The chief characteristic or features of a cooperative organization are as follow; Body corporate: The cooperative society is registered under the cooperative societies, Act 1925 being a corporate body like a company; it enjoys certain privileges which are subject to control and supervision of the state. It is an age long established fact that nobody can escape poverty without a savings habit. Transfer of Shares. Ownership is not enough Cooperative ownership per se can promise little or no benefit to members, such benefits only arise when collective power in the marketplace is exercised on the member's behalf. 11. Profits mean members receive money, rewards and offers and a co-op can support its local community. Service: The co-operative society provides service to the members of the society. But a member of the co-operatives can withdraw his capital by giving due notice to the society. Answer: A cooperative society is a voluntary association of persons of moderate means, who unite together to protect and promote their common economic interests. Stability: A co-operative organization is for poor and lower-class people. Answers (1) Highlight four ways in which business studies is used in the society (Solved) Highlight four ways in which business studies is used in the society. The first thing cooperative societies do to individual members is development of savings culture. Features: Consumers cooperative societies: Consumers’ cooperatives are formed by the consum­ers to obtain their daily requirements at reasonable prices. Question 6. The main types of cooperative societies are given below: 1. The basic principles of a cooperative, to which we subscribe, are: Voluntary Membership Cooperatives are voluntary organizations open to persons willing to accept the responsibilities of membership. Simply setting-up and running a co-op as an enterprise that operates in a similar way to any commercial business within the same marketplace is never enough to sustain success as a cooperative. Co-operative Farming Society: These societies are formed by small farmers to work jointly and thereby enjoy the benefits of large-scale farming. 5. The functions and aims of the consumer cooperative s:r societies, catering cooperatives and wholesale trade associations. Explain five diseconomies of scale which it may experience. Consumer cooperative society. 4.2 CHARACTERISTICS OF CO-OPERATIVE SOCIETIES A co-operative society is a special type of business organization different from other forms of business organization you have learnt earlier. 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