Explain the concept and forms of cooperatives

Question

14 Sep 2022

Answer :

Word Count : 624

A cooperative is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise. Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors.

There are six types of classification: Agricultural Co-op (known in Manitoba “New Generation Co-op”), Consumer Co-op, Credit Union, Housing Co, and insurance Co-op and Worker co-ops. Those types of cooperatives include producer/marketing, retail supply, utilities, cable television, agricultural services, fish marketing, child care, farmers' markets and community service.

Producer / Marketing Cooperatives
Consumer Cooperatives
Worker Cooperatives
Housing Cooperatives
Financial Cooperatives
New Generation Cooperatives
Multi-Stakeholder Cooperatives
Non-profit Community Service Cooperatives

Producer / Marketing Cooperatives

Agricultural CoopsThe Producer Co-ops were one of the first kinds of Cooperatives developed to explore and provide solutions to the farmers’ production in the early 1880s. Producers Co-ops are also known as marketing co-op where the members provide _________ ___ _____ __________ _________ ______ ________ ____ ____ ______ _____ _______.
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