Abstract
The idea of cooperation is not new to man. It is as old as man himself. Cooperatives are an almost universal form of organization today found in practically all countries and used by people in many ways. A Co-operative is a unique form of business used by people and businesses for their mutual benefit. Cooperatives are community-based, rooted in democracy, flexible, and have participatory involvement, which makes them well suited for economic development The meaning of cooperation is that isolated and powerless individuals can, by combining with one another, achieve advantages available to the rich and the powerful so that they may advance not only materially but also morally. In other words a cooperative is a business organization that is owned by those who use its services, the control of which rests equally with all the members. It is voluntary and democratic and the moral element is as important as the material one. Furthermore, it recognizes social, educational, and community values. An economy based on one form of business organization alone is neither desirable nor possible in modern times. To justify their existence and fulfil their purpose, cooperatives must make a significant and unique contribution to solving some of the massive problems facing mankind today. This paper examines the role of cooperative societies in economic development. The aim is to investigate the ways in which cooperatives can act as agents towards economic development.
Highlights
A cooperative can be defined in various ways; no single definition is sufficient for our study .A cooperative is an association of persons that is owned and controlled by the people to meet their common economic, social, and/or cultural needs and aspirations through a jointlyowned and democratically controlled business
We describe the multidimensional character of cooperative organizations and identify firms and economic sectors that fit within one or more of these dimensions
Our study includes a set of firms largely determined by the economic sectors identified in the original request for proposals issued by the USDA
Summary
A cooperative can be defined in various ways; no single definition is sufficient for our study .A cooperative is an association of persons (organization) that is owned and controlled by the people to meet their common economic, social, and/or cultural needs and aspirations through a jointlyowned and democratically controlled business (enterprise). To determine whether a given firm is a cooperative, we have identified five different, potential qualifying criteria: application of a statement of principles; self-identification; incorporation status; tax-filing status; and governance structure. In some cases, these criteria are in conflict. V. Education, Training, and Information: Cooperatives provide education and training for their members, elected representatives, managers, and employees so they can contribute to the development of their cooperatives. Education, Training, and Information: Cooperatives provide education and training for their members, elected representatives, managers, and employees so they can contribute to the development of their cooperatives They inform the general public about the nature and benefits of cooperatives. Concern for Community: Cooperatives work for the sustainable development of their communities through policies approved by their members
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