Cooperative Entrepreneurship

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Cooperatives, as social and economic enterprises are doing commendable services to all sections of the population throughout the world. It is the one movement, which has touched all aspects of human life. There are more than 150 types of major cooperatives working in more than 150 countries of the world. It is not a movement that came into being instantly. It was born out of the lessons learnt by great number of failures. Its foundations were laid down during the peak of Industrial Revolution, where capitalism and human exploitation were ruling high. So many trials and tribulations were borne by this great movement. Cooperatives could survive in all types of economies and all types of political systems. Whether it is a developed country or…show more content…
The concept of cooperative entrepreneurship is fundamental. It is closely linked to the viability and sustainability of cooperative enterprise and the cooperative movement. Applied in the cooperative sphere, cooperative entrepreneurship is a process whereby a group of promoters mobilizes financial and non financial resources to launch a new cooperative or revamping the existing cooperative to satisfy the socio economic and cultural needs and aspirations of group of members. That is the definition of cooperative entrepreneurship.
Cooperative entrepreneurship in fact seeks to bring creativity, innovation and strategic management into the management of cooperative society. To do this it is essential that cooperatives should have dynamic governance structures, qualified, competent and dedicated human resource, and modern management systems. Based on this, entrepreneurial characters of cooperatives and functions of cooperative entrepreneurship are discussed in this
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This corporate status allows the cooperatives to run as legally allowed organizations. Further, by registering under specific legal system the cooperatives get legal approval to enter into contracts, purchasing, selling, raising funds in the open market and manage disputes. The legal corporate status also allows the cooperatives to have sustainability and could run continuously without any disruption. Such status allows having democratic character, change of leadership and distribution of opportunities to all eligible members. Various bodies of cooperative entrepreneurship like member /leader entrepreneur, manager entrepreneur, bureaucratic entrepreneur and catalytic entrepreneur could get official status to their efforts and functioning. The legal status also creates scope to have fair administration. Corruption and misappropriation can also be legally dealt

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