Cooperative society is a form of
business organization. It is an association of persons who voluntarily pool
their resources for utilizing them for the
mutual welfare of members. Cooperative society is formed for the promotion
of thrift, self help and mutual assistance of the members.
According to Mr. H. Calvert:
“A cooperative
society is a form of organization, wherein persons voluntarily associate
together as human beings on the basis of equality for the promotion of economic interests of themselves.”
To Talmaki:
“It is an association of the weak
who gather together for common economic need and try to lift themselves from
weakness in to strength through business organization.”
In the light of the above
definitions we can say, a cooperative is a Non-profit
making voluntary organization where
members associate on the basis of equal rights to obtain economic and social benefits for themselves.
The
United Nations (UN) is observing this July 6, 2013, the 19th International Day
of Cooperatives, with the theme "Cooperative Enterprise Remains Strong in
Time of Crisis." The global observance recognizes and reaffirms the role
of cooperatives in the socio-economic and cultural development of nations and
in improving the lives of the poor and marginalized.
The
International Day of Cooperatives is celebrated annually on the first Saturday
of July under UN General Assembly Resolution 47/90 issued on December 16, 1994.
Cooperatives celebrate the day with various activities such as fairs, exhibits,
contests and campaigns, environment, social and health programs such as tree-planting
and cultural events.
Cooperatives
are vital in the world's socio-economic development as they help create ethics
and values in business and economics. They are formed in many countries to
assist poor and rural workers. Self-help projects are pursued through coops, in
which small farmers and fisher folk pool resources to gain a strong bargaining
power and lower the prices of goods and services. There are over one billion people
who are members of cooperatives all over the world and three billion
individuals benefitting from the movement.
As we
join cooperators to celebrate the international day of Cooperatives, it is
certain we need to congratulate promoters of cooperatives for their
contributions in strengthening cooperativism as a global tool to empower the
marginalized sectors and help them achieve socio-economic growth.
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