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A cooperative (also known as co-operative, co-op, or coop) 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". [1]
In some co-operative economics literature, the aim is the achievement of a co-operative commonwealth, a society based on cooperative and socialist principles. Co-operative economists – federalist, individualist, and otherwise – have presented the extension of their economic model to its natural limits as a goal.
A consumers' co-operative is an enterprise owned by consumers and managed democratically and that aims at fulfilling the needs and aspirations of its members. [1] Such co-operatives operate within the market system , independently of the state, as a form of mutual aid , oriented toward service rather than pecuniary profit. [ 2 ]
The cooperative hires professionals for their expertise and skills and uses hi-tech research labs and modern processing plants & transport cold-chains, to ensure quality of their produce and value-add to the milk. Production of sugar from sugarcane mostly takes place at cooperative sugar cane mills owned by local farmers.
A retailers' cooperative is essentially a group of independently owned businesses that pool their resources to purchase in bulk, usually by establishing a central buying organization, and engage in joint promotion efforts. [2] It is common for locally owned grocery stores, hardware stores, and pharmacies to participate in retailers' cooperatives.
They are a distinctive form of home ownership that have many characteristics that differ from other residential arrangements such as single family home ownership, condominiums and renting. [1] The cooperative is membership based, with membership granted by way of a share purchase in the cooperative.
The Co-operative Group formed gradually over 140 years from the merger of many independent retail societies, and their wholesale societies and federations. In 1863, twenty years after the Rochdale Pioneers opened their co-operative, the North of England Co-operative Society was launched by 300 individual co-ops across Yorkshire and Lancashire ...
This period set the stage for the expansion of cooperative movements in the United States. The early 20th century saw a surge in consumer co-ops, especially during the Great Depression, when the establishment of self-help cooperatives was advocated by figures like Upton Sinclair and supported by Franklin Roosevelt's New Deal. This era ...