Cooperative

 

Cooperative Organization

An organization established with the purpose of cooperation and mutual support among individuals of a community with common goals is called a cooperative organization.

 

In Nepal, the establishment and operation of cooperative organizations are regulated under the "Cooperative Act 2074".

Principles of Cooperatives

1.    Voluntary and open membership

Cooperative is Voluntary organizations where anyone can join a cooperative without discrimination based on gender, race, religion, or politics. Membership is open to all who can use its services and are willing to accept responsibilities.

 

2.    Democratic member control

Democratic control in cooperatives ensures equal voting rights for all members, active participation in decision-making, and elected representatives who act in their best interests, promoting fairness, transparency, and collective leadership, based on the principle of one member, one vote.

 

3.     Member economic participation

Cooperatives ensure member economic participation by allowing members to invest in the business and share in its financial benefits. Profits are distributed based on transactions, with limited interest on capital to maintain a service-first approach. Some surplus is reinvested for growth, ensuring long-term stability and member welfare.

 

4.    Autonomy and independence

Cooperatives are self-governing organizations, controlled by members, making their own policies and decisions without external interference. They maintain democratic control, enabling them to operate effectively while focusing on member needs.

 

5.    Education, Training and information

Cooperatives enhance member, leader, and employee skills, improve decision-making, financial management, and leadership, while also educating the public about cooperative benefits, sustainable development, and active member participation.

 

6.    Cooperation among cooperatives

Cooperative cooperation enhances the movement by sharing resources, knowledge, and opportunities, enhancing member service, achieving common goals, and contributing to economic and social development at local, national, and international levels.

 

7.    Concern for community

Cooperatives prioritize community well-being through sustainable development, social responsibility, and ethical business practices. They invest in community projects, environmental initiatives, and social programs, resulting in long-term benefits for society and a positive impact on the communities they serve.

Comments

Post a Comment

Popular posts from this blog

Class 11 Chapter 1 - 2 - 3

Image
Chapter 1 Introduction To Business Finance Business finance is the process of raising, managing, and using money in a business. It helps in running daily operations, making investments, and achieving business goals by ensuring proper use of financial resources. Business finance is that business activity, which is concerned the acquisition and conservation of capital funds in meeting financial needs and overall objectives of business enterprises Business finance is a process of raising, providing and managing of all the money to be used in connection with business activities.   Business finance is the management of money within all type of business organization. v   Types of Business Finance Sole Trading Finance Partnership Finance Corporate Finance Basic area of Finance 1.  Business Finance Business is about managing money within a business. It includes raising capital, using it wisely, and making financial decisions for business growth. It helps in planning for profits, ...
Read more

Class 11 Chapter 10 TIME VALUE OF MONEY

Image
  Practice Question No. 1  [Advance Saraswati Publication] Calculate Future value of : i) An initial Rs. 500 compounded for 2 year at 7 percent. ii) An initial Rs 500 compounded for 10 years at 12 percent. iii) An initial Rs. 500 compounded for 10 year at 6 percent.  [Ans:  i. Rs. 572.45 ii. Rs. 1552.90 iii. Rs. 895.40 ]  Practice Question No. 2  [Asmita's Publication] Find the future value of the following: i. 1000 compounded for 2 year at 14 percent  ii. Present value is Rs. 2250 for 30 year at 12 Percent. iii. Future value at 9 percent at 16 year of Rs. 9310. iv. Future value of present sum of Rs. 99,500 compounded at 6 percent for 5 year. [ Ans: i. Rs. 1299.60 ii. Rs. 67,409.78 iii. Rs. 36,963.49 iv. Rs. 133,150.90] Practice Question No. 3  [KEC Publication]  a. If you deposit Rs. 10,000 in a bank account that pays 10 percent interest annually, how much money will be in your account after 5 years ?  b. your parent will retire afte...
Read more