Definition of Co-operative Society

Co-operative is a voluntary association of persons who join together to safeguard their own interests. The primary objectives of forming co-operative society are to protect economically the weaker section of the society.

It is a democratic organization run by its members for serving their own interests. The basic philosophy of co-operative society is given below:

  • Service in place of profits
  • Mutual help in place of competition
  • Self help in place of dependence
  • Moral solidarity in place of unethical business practice

Various authors have defined co-operative society in different ways:

Definition of co-operative society

  1. According to Sherleker and Sherleker, “Co-operative society is a form of business organization; the only system of voluntary organization suitable for poorer people.”

  2. According to Y.K. Bhushan, “A co-operative society is essentially an association of persons who join together on a voluntary basis for the furtherance of their common economic interests.”

  3. According to Sir Horace Plunkett, “Co-operative is an association of individuals to secure a common economic goal by honest means.”

Definition of Co-operative Society

Definition of Co-operative Society

At last we can say that a co-operative society is a union of individuals who generally join together on the basis of democracy for the purpose of economic acts of common interests. Its primary goal is to render service to its members.

Other Content of Co-operative Society:

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