"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"
A type of business that is owned and controlled by its members, who share the profits and benefits according to their level of participation.
Cooperative Principles: The seven cooperative principles provide a framework for the operation of cooperative businesses. These principles include voluntary and open membership, democratic member control, member economic participation, autonomy and independence, education and training, cooperation among cooperatives, and concern for community.
Cooperative Types: There are several types of cooperatives, including consumer cooperatives, worker cooperatives, producer cooperatives, and multi-stakeholder cooperatives. Each type has its own unique characteristics and operates in a slightly different way.
Cooperative Legal Structure: The legal structure of a cooperative is different from that of a traditional business. Cooperatives are often structured as non-profit organizations or limited liability companies (LLCs) and are governed by a board of directors elected by the members.
Member Benefits and Responsibilities: Members of a cooperative have both benefits and responsibilities. Benefits include access to goods or services, profits, and a voice in the operation of the cooperative. Members also have responsibilities such as paying dues, attending meetings, and participating in decision-making processes.
Marketing and Sales: Like any business, cooperatives must have effective marketing and sales strategies to attract and retain members/customers. This includes things like branding, product positioning, pricing, and distribution.
Financial Management: Cooperatives require effective financial management to ensure their long-term sustainability. This includes things like budgeting, accounting, and financial reporting.
Governance and Leadership: Cooperatives must be effectively governed and led to ensure their success. This includes having a board of directors that is skilled in business management and knowledgeable about the industry the cooperative operates in.
Cooperative Development: Developing a successful cooperative requires careful planning and execution. This includes assessing the market demand for the cooperative's goods or services, securing financing, and developing a sustainable business model.
Cooperative management: This field involves the study of management practices and decision-making within cooperatives, including organizational structure, governance, and leadership.
Cooperative finance: This field focuses on financial management and accounting practices within cooperatives, including the management of member equity and the distribution of profits.
Cooperative marketing: This field deals with the marketing strategies and practices used by cooperatives to sell products and services to their members or consumers.
Cooperative development: This field is concerned with the creation and growth of new cooperatives, including identifying potential markets, recruiting members, and organizing the cooperative structure.
Cooperative law: This field involves the study of the legal framework that governs the formation and operation of cooperatives, including tax regulations and labor laws.
Cooperative education: This field is devoted to providing training and education to cooperative members, managers, and employees on cooperative principles and practices.
Cooperative research: This field is focused on conducting empirical research on cooperatives, including their economic impact and effectiveness in achieving social and economic goals.
Cooperative history: This field deals with the historical development of cooperative movements worldwide, including the emergence of cooperative economics and the contributions of key figures in the cooperative movement.
Cooperative policy: This field involves the study of public policy related to cooperatives, including legislation and regulation affecting cooperative enterprises.
Cooperative social responsibility: This field is focused on the social and environmental responsibility of cooperatives, including their impact on local communities and the environment.
"Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors."
"consumer cooperatives, producer cooperatives, worker cooperatives, purchasing cooperatives, multi-stakeholder cooperatives, second- and third-tier cooperatives, and platform cooperatives."
"in 2012 approximately one billion people in 96 countries had become members of at least one cooperative."
"The turnover of the largest three hundred cooperatives in the world reached $2.2 trillion."
"twice the number of co-operatives (80%) surviving their first five years compared with other business ownership models (41%)"
"the Mondragon Corporation ... has been in continuous operation since 1956."
"in 2013, retail co-operatives in the UK invested 6.9% of their pre-tax profits in the communities in which they trade"
"through the use of a .coop domain"
"the International Co-operative Alliance (ICA) introduced the Cooperative Marque, meaning ICA cooperatives and WOCCU credit unions can also be identified through a coop ethical consumerism label."