AIMS AND OBJECTIVE OF COOPERATIVE SOCIETY

 

AIMS AND OBJECTIVE OF COOPERATIVE SOCIETY

Cooperative societies and organizations have a number of main aims and objectives. Such organization are considered to be jointly controlled by those working at the organization and those receiving services from the organization.so in essence, there are high levels of cooperation between these two parties of people.

Cooperative societies originally came about to unite business owners with their staff members. They led to the practice of private companies being “split” into shares, which are given to employees at various levels of the company.

 The following points below describe some of the main objectives and aims of a cooperative society:

1.     ENHANCING COOPERATION

2.     HIGH LEVEL OF SERVICE

3.     HIGHER PROFIT

 ENHANCING COOPERATION

Cooperative society aim to encourage complete cooperation between everybody involved with an organization. They are generally against the idea of any sort of hierarchy and consider everyone to be equal. This can improve relationship between staff members and senior management, as well as between service providers and customers.

HIGH LEVEL OF SERVICE

          Better working relationship naturally lead to higher productivity levels, so a better service is given to customers. This raises customer’s satisfaction levels, which is the primary aim of many cooperative societies. For instance, students’ accommodation units may be built by the cooperative societies in which will make the students happier with their accommodations and this will make the staff members to find their working life easier.

HIGH PROFIT

Many cooperative societies are essentially out to make a profit and believe that enhancing relationships will lead to high profit levels. Of course, this plan may not always work,but, in many cases it has proved effective.

Some charities have also benefited from operating as a cooperative society, as charity members become more focus to their work, raising more money for the cause in question. Meanwhile, the main purpose, aims and objectives of cooperative society formation is to improve the socio-economic interest of their members. These can only be attained through wide and support from the society to its members which could be in form of loans and advance with low interest rate therefore, the reason for establishing cooperative society were achieved.

TYPES OF COOPERATIVE SOCIETY

 TYPES OF COOPERATIVE SOCIETY

          The following cooperative societies are found in our environment.

1.     PRODUCER COOPERATIVE SOCIETY

2.     CREDIT AND THRIFT COOPERATIVE SOCIETY

3.     MULTIPURPOSE COOPERATIVE SOCIETY

4.     FARMER COOPERATIVE SOCIETY

5.     CONSUMER COOPERATIVE SOCIETY

PRODUCER COOPERATIVE SOCIETY

This is an association of producers in a certain ventures. This type of cooperative contributes mainly by buying, implementing and also machinery form for their trade. They hired machineries to members of the public who are farmer at a low price. Sometimes the machinery works for each member for a number of days. This will help them to increase the method of their production as well as save time and labour. The surplus is divided among the members.

CREDIT AND THRIFT COOPERATIVE SOCIETY

This is formed to give money to members who would otherwise not have been able to obtain loan from banks. It is formed to enable them have savings and they provided loans to members at a low interest rate. They collect money on monthly or weekly basis over the years.

MULTIPURPOSE COOPERATIVE SOCIETY

 As the name implies, is a society that engaged in more than one type of trade (profession) it could perform that function of marketing, producer or consumer society. They serve more than one purpose for instance; they make sure that the consumers are not exploited.

FARMER COOPERATIVE SOCIETY

This is very common cooperative society in our environment because our major occupation is farming and the type of farming is mixed farming. This has access to facilities like seedlings, farming implement and they are also assisted by government especially with fertilizers.

CONSUMER COOPERATIVE SOCIETY

The members are consumers who put their resources together for a common goal. Goods are brought by the members at wholesaler’s basis. The goods are stated and sold to the cooperative and members of the public at the current market price.