Explain Co-operative Values.
Himanshu KulshreshthaElite Author
Asked: May 14, 20242024-05-14T13:45:29+05:30
2024-05-14T13:45:29+05:30In: Co-operation, Co-operative Law and Business Laws
Explain Co-operative Values.
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Co-operative values are the guiding principles that underpin the operation and ethos of co-operative enterprises. These values are based on the idea of collaboration, mutual aid, and democratic decision-making. There are seven key co-operative values recognized internationally:
Voluntary and Open Membership: Co-operatives are open to all who wish to use their services and are willing to accept the responsibilities of membership without discrimination.
Democratic Member Control: Co-operatives are controlled by their members, who actively participate in setting policies and making decisions. Each member has equal voting rights, typically following the principle of one member, one vote.
Member Economic Participation: Members contribute equitably to, and democratically control, the capital of their co-operative. This ensures that the benefits derived from the co-operative's operations are shared among its members in proportion to their transactions with the co-operative.
Autonomy and Independence: Co-operatives are autonomous, self-help organizations controlled by their members. They have the freedom to make decisions independently while adhering to agreements with other organizations and complying with applicable laws.
Education, Training, and Information: Co-operatives provide education and training to their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. They also inform the general public about the nature and benefits of co-operation.
Co-operation among Co-operatives: Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional, and international structures.
Concern for Community: Co-operatives work for the sustainable development of their communities through policies approved by their members. They aim to improve the quality of life for members and the broader community.