Cooperative


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Cooperative

An organization owned by its members. Examples are agriculture cooperatives that assist farmers in selling their products more efficiently and apartment buildings owned by the residents who have full control of the property.

Cooperative

Any organization owned by its members. A cooperative may be a business owned by its employees and/or customers, a residential complex owned by the people who live in it, or even a bank owned by its depositors. Certain legal requirements are incumbent upon cooperatives; for example, there is often a cap on how much of their profits may be distributed. See also: Cooperative economics.

Cooperative (co-op).

A co-op is a corporation that owns a particular residential property. The shareholders are the tenants who, instead of owning an individual unit, own shares in the corporation, which gives them the right to live in that unit.

cooperative

see WORKERS' COOPERATIVE, RETAIL COOPERATIVE.

cooperative

a form of business FIRM that is owned and run by a group of individuals for their mutual benefit. Examples of cooperatives include:
  1. worker or producer cooperatives: businesses that are owned and managed by their employees, who share in the net profit of the business.
  2. wholesale cooperatives: businesses whose membership comprises a multitude of small independent retailers. The prime objective of such a group is to use its combined BULK-BUYING power to obtain discounts and concessions from manufacturers, similar to those achieved by larger SUPERMARKET chains.
  3. retail cooperatives: businesses that are run in the interest of customers, who hold membership rights entitling them to receive an annual dividend or refund in proportion to their spending at the cooperative's shops.

See WHOLESALER, RETAILER, DISTRIBUTION CHANNEL.

References in periodicals archive ?
Chemno led the county in marking the 97th International Cooperatives Day at Bishop Delany High School.
"The DOE sees the need to further evaluate and assess the present status and performance of the 17 electric cooperatives," he said.
In 1952, a cooperative act was enacted in Uganda, which spurred rapid economic development over the following decade.
The Mallig FST Multi-Purpose Cooperative (1st Place), Christian Farmers Multi-Purpose Cooperative from Cabagan (2nd Place) and Buenavista Multi-Purpose Cooperative from Santiago City (3rd Place) were the top three winners for the Medium Agri-based category while the Batal Igorot Savings and Development Cooperative from Santiago City was the lone winner for Medium Non-agri-based category.
Hasan Askari has said that best results can be achieved by benefitting from the fruits of cooperatives movement.
On the occasion, Joint Registrar Cooperatives Hamid Ali Shahzad Hashmi, Deputy Registrar Mohammad Ijaz Khan, Ch.
Tuy and Community Multi-Purpose Cooperative, TMPC Village, Brgy.
Although Dreyer's involvement in cooperative development crossed sectors and continents, colleagues agree that his most urgent energies were spent closing gaps in cooperative finance by creating a national cooperative bank.
The problem is that even the people who work in a cooperative don't understand all the other parts.
"Working with cooperatives has been a career-long commitment, and I'm honored to join such a prestigious group of members in the Cooperative Hall of Fame," said Silver.
International Labor Organization (ILO) pays constant attention to the development of cooperative movement, considering cooperatives an important institution, which provides for the sustainable development of the society (Hagen Henry, 2012).
This article briefly reviews the increased interest in new cooperative development, factors for successful cooperative development, and strategies to improve the performance of new and emerging cooperatives.

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