JAYVEN B.

MARCOS BSBA-MM 4A

It is essentially a group of individuals who come together willingly to fulfill shared

economic, social, and cultural objectives through a collectively owned and
democratically governed enterprise. A co-op is different than most types of businesses
— while they may be publicly traded or privately-held companies, they exist to serve the
members who own them, not outside investors. This also means that members get to
vote on co-op operations and profit distribution.

Cooperatives are guided by seven fundamental principles:

Voluntary and Open Membership: Anyone willing to shoulder the responsibilities of

membership and contribute to the cooperative's goals is welcome.

Democratic Member Control: Every member has an equal say in the decision-making
process, ensuring fairness and inclusivity.

Members' Economic Participation: Members invest in the cooperative and reap

economic benefits proportionate to their involvement.

Autonomy and Independence: Cooperatives maintain self-sufficiency while potentially

collaborating with external entities under terms that preserve democratic control.

Education, Training, and Information: Cooperatives prioritize educating members,

elected representatives, managers, and staff to enhance their contributions.

Cooperation Among Cooperatives: Cooperatives collaborate locally, nationally, and

globally to strengthen the cooperative movement.

Concern for Community: Cooperatives promote sustainable community development

through initiatives approved by their members.

What sets cooperatives apart is their ownership and governance structure. They
empower members to make collective decisions and share profits, diverging from the
profit-maximizing approach of traditional businesses. Additionally, cooperatives
champion social responsibility and sustainability.

Cooperatives span various sectors, from agriculture and housing to finance, healthcare,
and education, contributing significantly to economic development and social equity
worldwide.

In summary, cooperatives represent a distinctive and valuable form of business

organization. They emphasize member ownership, prioritize meeting member needs,
and remain steadfast in their commitment to social responsibility and sustainable
growth.
JEROMIE G. MADDUMA BSBA-MM 4A

A Cooperative is essentially a self regulating association of individuals coming

together for the purpose of satisfying their common economic, social and cultural needs
and aspiration by forming a communally owned and democratically controlled business
entity. In this model, all members have a rightful claim for equal say in policy decisions
and an equitable share in revenues.

Democracy is an indelible component of coops — with each member enjoying one

vote no matter how much cash they put into the venture (one penny to a penny million.)

Self-sufficiency lies as the root of co-ops, wherein members work together in order to
reach a certain goal.

Solidarity — that’s what cooperatives were based on, promoting a strong feeling of
unity and mutual aid amongst the membership.

Democratic member control is maintained in co-ops, as policies and decisions are

made collectively. In primary co-operatives the “one member, one vote” rule is observed
whereas in others voting rights can be spread more broadly.

It includes balanced economic participation through shared capital and democratic

governance. Part of this equity is communally controlled.

Autonomy and independence are core principles for cooperatives, being voluntary
organizations of individuals joining forces to fulfill common objectives while keeping
governance inside that same membership. Contracts with outside organizations will be
negotiated as an act of defiance, insuring member democratic control and guaranteeing
the self-sufficiency of the enterprise.

Education, training and information dissemination form key areas of co-operatives

whereby members (including elected representatives, managerial and operational Staff)
are adequately equipped to contribute to the co-operative’s success.

Co-ops put the community first, promoting sustainable community prosperity through
member-endorsed policies.