Forms of business organization III

Business Studies J.S.S 1 Second Term

WEEK 9

Forms of business organization III

Performance Objectives

  The student should be able to: 

1. Explain co-operative society.

 2. Mention the types of the co-operative society.

 3. State the advantages and disadvantages of the co-operative society.

Content

Meaning of Co-operative Societies

A co-operative society exists when groups of workers, individuals, organizations, farmers or communities pull their resources together towards a common goal. Unlike the partnership form of business organisation, there is no maximum number of persons that can form a co-operative society. The main purpose of the co-operative society is to sell goods and services to members at a cheap rate and do business together for profit purpose and share the profits…