The term "cooperative" refers to an organization or business structure that is owned and operated by a group of individuals who have a mutual interest in the enterprise. These individuals, known as members, are the ones who contribute capital, share profits, and participate in the governance of the cooperative. Here are some key aspects of cooperatives:
1. Ownership and Control: Members have equal voting rights, regardless of how much capital they have contributed. This principle is known as "one member, one vote."
2. Purpose: The primary goal of a cooperative is to serve its members and meet their common economic, social, and cultural needs. Unlike corporations, which aim to maximize profits for shareholders, cooperatives focus on providing a service or product at a fair price.
3. Autonomy and Independence: Cooperatives are autonomous, meaning they are independent from government or private entities. They make decisions based on their own needs and values.
4. Education, Training, and Information: Cooperatives are committed to educating their members and the public about the cooperative movement and the benefits of cooperative businesses.
5. Cooperation Among Members: The cooperative principle of "cooperation among cooperatives" encourages members to work together, share resources, and support each other.
6. Economic Participation: Members have the opportunity to participate in the economic benefits of the cooperative, such as receiving dividends or profit-sharing.
Here are some examples of cooperative organizations:
Consumer Cooperatives: These are businesses owned by consumers, such as food cooperatives, credit unions, and housing cooperatives.
Worker Cooperatives: In these cooperatives, the workers are the owners and operators, such as worker-owned factories or farms.
Producer Cooperatives: These are owned by producers, such as farmer cooperatives, fishery cooperatives, or artist cooperatives.
Credit Unions: These are financial cooperatives that provide banking services to their members.
The cooperative model is widespread across the world and has been successful in various industries and sectors. It is based on the principles of solidarity, self-help, autonomy, and democracy.
