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What are cooperatives? In what ways do cooperatives present an economic alternative to mainstream business? Discuss...

What are cooperatives? In what ways do cooperatives present an economic alternative to mainstream business? Discuss the principles and values of cooperatives. Draw on the lectures, films, course material and examples of co-operatives discussed in this course (The Social Economy course, York University)

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Answer #1

Legally cooperatives are defined as autonomous amalgamation of individuals integrated voluntarily to meet their economic, political, social needs.

These presents an alternative mechanism to mainstream business through fundraising and bootstrapping.

Majority of these firms represent NGOs, Housing Cooperatives, Retail Cooperatives, utility cooperatives, credit unions. These firm support and arr ancillary to large businesses and have to report financial statements of financial year through an auditing process as filed by Registrar of Companies. These cooperatives act to cater unchaeted territories and target segment which is unserved and are underprivileged and they all ooerate under cooperatives principles of Anti discrimination, motivation, rewards, concern and democratic control.

The principles here are equal profit sharing and mutual inclusive growth for society to bring largecsale positive implications.

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