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. Over the years southern Star has grown into a large business enterprise. 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. You've read: Why a Co-op? 5. A co-operative (co-op) is a different kind of business. It is an age long established fact that nobody can escape poverty without a savings habit. Transfer of Shares. The functions and aims of the consumer cooperative s:r societies, catering cooperatives and wholesale trade associations. 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. Profits mean members receive money, rewards and offers and a co-op can support its local community. Explain five diseconomies of scale which it may experience. Stability: A co-operative organization is for poor and lower-class people. Consumers cooperative societies: Consumers’ cooperatives are formed by the consum­ers to obtain their daily requirements at reasonable prices. Service: The co-operative society provides service to the members of the society. Date posted: September 22, 2017. But a member of the co-operatives can withdraw his capital by giving due notice to the society. Co-operative Farming Society: These societies are formed by small farmers to work jointly and thereby enjoy the benefits of large-scale farming. But in a company, they are generally scattered over a wide area. In a co-operative society, the members are located in a particular place or town. Here we will outline the main 8 categories as well as explain the roles of cooperative society. The organization should be stable in nature to earn a profit for society. Now continue reading: Basic Principles of a Cooperative . 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. 11. 6. Such a society buys goods directly from manufacturers and wholesalers to … The main types of cooperative societies are given below: 1. 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. 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 . 7. The first thing cooperative societies do to individual members is development of savings culture. Features: Question 6. 12. Consumer cooperative society. Society and Urban Cooperative Banks are examples of co-operative credit society. Lift-irrigation co-operative societies and pani-panchayats are some of the examples of co-operative farming society. 1. oluntV ary Association : A Cooperative Society is … Hybrid: a combination of co-op types, where people with common interests band together. Five Types of Cooperatives . 10. Let us discuss its characteristics. Facts about Cooperatives. Explain the meaning, features, merits and demerits of cooperative society. There are more than 120 cooperative society types which possess various functions and aims. In the case of co-operatives, the shares are not transferable. The formation of a co-operative organization is based on a service motive rather than the profit motive. 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