Discuss the features of Co-operative Stores as a large-scale retail store.
Discuss the features of Co-operative Stores as a large-scale retail store.
Features of Co-operative Stores :
(1) Formation: A co-operative store requires at least 10 adults members to form this store. There is no limit on a maximum number of members.
(2) Democratic Management: Co-operative stores is democratically managed through management committees which are elected by the members. Each member has one vote irrespective of the number of shares held by him/her.
(3) Lower Prices: A co-operative store purchases directly from manufacturers or wholesalers and sells them to members and others. Elimination of middlemen results in lower prices for the consumer goods to the members.
(4) Cash Sales: The consumer co-operative stores normally sell goods on a cash basis. As a result, the requirement for working capital is reduced.
(5) Convenient Location: These stores are generally opened at convenient public places where the members and others can easily buy the products as per their requirement.
(6) Limited Liability: The liability of the members in a co-operative store is limited to the extent of capital contributed by them. They are not liable personally to pay for the debts in case the liabilities are greater than its assets.
Features of Co-operative Stores :
(1) Formation: A co-operative store requires at least 10 adults members to form this store. There is no limit on a maximum number of members.
(2) Democratic Management: Co-operative stores is democratically managed through management committees which are elected by the members. Each member has one vote irrespective of the number of shares held by him/her.
(3) Lower Prices: A co-operative store purchases directly from manufacturers or wholesalers and sells them to members and others. Elimination of middlemen results in lower prices for the consumer goods to the members.
(4) Cash Sales: The consumer co-operative stores normally sell goods on a cash basis. As a result, the requirement for working capital is reduced.
(5) Convenient Location: These stores are generally opened at convenient public places where the members and others can easily buy the products as per their requirement.
(6) Limited Liability: The liability of the members in a co-operative store is limited to the extent of capital contributed by them. They are not liable personally to pay for the debts in case the liabilities are greater than its assets.
