Please enable JavaScript.
Coggle requires JavaScript to display documents.
CO-OPERATIVE (FACTORS RELATING TO A CO-OPERATIVE (NAME:
LIMITED…
CO-OPERATIVE
-
CHARACTERISTICS
- HAVE TO REGISTER BY THE REGISTRAR OF CO-OPERATIVE SOCIETIES
- CO-OPERATIVE MUST APPEAR IN THE NAME AND AT THE END "LIMITED"
- MEMBER'S LIABILITY FOR DEBTS OF A CO-OPERATIVE IS LIMITED
-
- ALL MEMBERS HAVE A SAY IN RUNNING THE COMPANY
- MUST BE MANAGED BY 3 DIRECTORS
ADVANTAGES
-
-
- MEMBERS CAN RECEIVE GREAT ADVANTAGE
- MANAGED ACCORDING TO THE CO-OPERATIVE ACT
-
-
DISADVANTAGES
-
- MEMBERS CONTROL SUCCESS OF THE CO-OPERATIVE
- MAY LACK SKILLED AND EXPERIENCED LEADERS
- SHARES ARE NOT TRANSFERABLE
-
-
DEF: BUSINESS IS OWNED BY ITS MEMBERS. THE MEMBERS COME TOGETHER TO BUY OR SELL GOODS AND SERVICES AND THE OBJECTIVE OF THE CO-OP IS THE MUTUAL BENEFIT OF THE GROUP. THEY ARE SERVICE MOTIVE RATHER THAN PROFIT MOTIVE