'Exploring Business Economics'
"The cooperative can be defined as an association of people, attempting, by their co-operative action, to make certain advantages or savings available" - A.A Archer, P.G Du Plessis, I.J Lambrechts, H. Dosthuizen & Z.N.D Zungu
This day, may we come to learn more about 'The Co-operative'; basically - an organization of people sharing an interest and/or doing the same type of work, to make effort to work helpfully together, so to share about something useful or helpful. And so, to bring about certain advantages or benefits that are made available before 'themselves'.
Thus a "method of operation" and/or a basic function is 'Participating'; to take part and to have a share within 'the co-operation'. As a result, "being a member", to join in or engage within the "act of participating" and "a state of being related to a larger whole".
In that case, contributing 'capital stock' (money or property that can be used to make more wealth). And so, such contribution or some kind of support may involve the 'serving' of special services (as something that helps people or supplies what they want) and/or to give/sell any kind of product (any thing produced by nature, industry or art) and - mostly, by willing to 'co-operate'.
INSTRUMENTAL WORD; 🔑 "Cooperative"
- "an organization or enterprise owned by, and operated for the benefit of, those using it (the co-operative) services"
Furthermore, considering "an excess of revenues over expenditure in a financial year" (the surplus) which may have "come into existence' cause a "method of operation" belonging to the..
Cooperative
As a combined effort, which can then be divided or shared out, as an arrangement by the total "act of participating" or - possibly - by "a means of support" coming from "any person belonging to a society or club" (group members). Also, having no regard to a holder's capital stock (shares) within a property, especially a business firm.
Importantly, every person belonging to 'the co-operative' possess a single vote right to vote (as an indication of choice or opinion), as to a matter on which one has a right to be consulted. Therefore, paying less - if not zero - attention toward the holder's (member) amount of shares and/or any allocated portion (as a capital stock).
Three Kinds of Cooperative
For that reason, the Cooperative Act no. 69 of 1984 is providing three kinds to support an "act of participating" (Cooperatives), that is to say ;
- Trading Cooperative
- Agricultural Cooperative
- Special farmers Cooperative
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