It is a voluntary association of people where there are no restrictions for its members. Anyone can become a member of society and can leave at any time by giving the company.
1. Equality :
The company's share capital is divided generally into a number of shares of equal value. considered in this type of organization of all members the same rights to property and the same voice in the management of the cooperative enterprise.
2. Honesty :
Its members may not dishonest and selfish. All activities must be conducted honestly and fairly.
3. General cash :
In general, products are delivered to members on a cash basis. To deal of credit is strictly prohibited. This trend creates the habit of saving among members and the cooperative keeps bad debts and keep the members of the unnecessary losses.
4. Services :
All administrative and commercial activities are carried out by the members themselves. People are also paid employees, but have no voice in management.
5. Distribution of surpluses :
In principle, cooperatives are not distributing its benefits in the form of capital held by shareholders.
However, the surplus is a cooperative contribution to this sector.
(A) first a modest return on the capital provided to the individual members.
(B) A portion of the surplus for social activities and welfare of members distributed.
(C) A certain amount of the reserve fund for the strengthening of the institution will be transferred.
(D) Another portion of the surplus is used to pay bonuses to employees.
(E) In the case of consumers of the cooperative, the surplus to members based on purchases can be spread by them.
6. Democracy :
It is a form of democratic organization in which every member is allowed in the management of the company is involved. to A member, one vote is the fundamental principle of organization and cooperation of the Management Committee not to search for a section of members.
7. Economy :
All company activities must be made on waste charges and unnecessary and should be avoided.
8. To sacrifice :
Cooperative must be founded on the principle of everything for everyone for all. It should be a spirit of cooperation and mutual assistance among members.
9. The theme of the service :
Is this a form of home business with no profit motive as the leader, but with the main objective to provide maximum benefits for their members.
10. Solidarity :
There must be trust among the members for the smooth functioning of society. The members must be united, together with any decision relating to certain topics.
11. Transparency - Seeing is Believing
Look, we've all been a part of organizations where decisions show up behind closed doorways. That's now not how we do things right here. Our books? Open for any member to check. Meeting notes? Posted where everyone can see them. If you ever wonder where your money's going or how decisions get made, just ask. We hold quarterly "no stupid questions" sessions because secrets kill trust faster than anything.
12. Learning Never Stops
Remember while Uncle Rahim kept insisting his 1990 business methods nonetheless worked? Yeah, we do not need to be that man. That's why we:
- Bring in experts every other month to teach new skills
- Run workshops where members share what they know
- Keep a library (yes, an actual bookshelf!) of useful resources
- Because the world changes fast, and we need to change with it.
13. Keeping Politics Where It Belongs
We've got a simple rule leave your political and religious hats at the door. At our last meeting, when someone tried turning a discussion about fertilizer prices into a political debate? Shut down immediately. Our focus is helping members, not pushing agendas.
14. Doing Business the Right Way
My cousin's cooperative got in trouble last year for shady accounting. Learned that lesson for all of us. Now we:
- Triple-check every transaction
- Require two signatures on checks
- Do surprise audits
- Because one "shortcut" can destroy years of trust overnight.
15. Changing With the Times
When the pandemic hit, the agencies that survived have been the ones who tailored rapid. That's why we're always looking at:
- New tech that could save us time/money
- Better ways to serve members
- Emerging market opportunities
- Staying the same means falling behind simple as that.
16. More Than Just Business
Remember how the Malik cooperative rebuilt homes after the floods? That's the kind of group we want to be. Whether it's:
- Sponsoring local kids' education
- Organizing medical camps
- Planting trees in the community
- We know real success means lifting everyone up.
17. Dotting the I's and Crossing the T's
Paperwork might be boring, but it's crucial. We:
- Keep every permit current
- File reports on time
- Review our bylaws yearly
- Because nothing sinks a good group faster than legal trouble.
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