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.