pre-midterm Flashcards
How many types of co-ops are there?
6
What are the types of co-ops?
Consumer worker housing financial marketing/producer hybrid/new age
Altruism definition
one share=one vote
Patronage Dividend def & example
payout for member-based on degree of association
ex) Red River Co-op
Cooperation definition
a social process by which individuals work together to realize a common objective or goal
The first co-op
Rochdale Pioneers, England 1884. Founded by 28 artisans to sell healthy food at a reasonable price
7 Principles of the Co-op Movement
1) voluntary and open membership
2) democratic member control
3) autonomy and independence
4) members economic participation
5) education and training and information
6) community concern
7) co-op cooperation
Farmer benefits from co-ops
quality inputs at fair prices and economies of scale in adding value
Retailer benefits from co-ops
economies in marketing and distribution, and greater common buying power
Worker benefits from co-ops
participation in the management of their enterprise and a fair reward for their labour
Primary producer benefits
access for their produce and more control over the added value
savers or borrowers benefits
a fair return on their savings and access to credit at a fair interest rate
Co-operative Values (6)
Self-help self-responsibility democracy equality equity solidarity
Co-op ethical values
Honestly
openness
social responsibility
caring for others
Relevance today
1) economic changes resulting in poverty, social exclusion, exploitation
2) pools together resources to address these problems by creating businesses based on economic, ethical, and moral principles
National Co-ops
- Desjardins (financial institution)
- MEC
- Arctic co-ops
- Assinibione Credit Union
- Red River Co-op
- Pollock Hardware
Local Co-ops
- Granny’s Poultry
- NorWest co-op
- Housing co-ops (Carpathia, Willow Park, Westboine)
Canadian co-ops: numbers of co-ops, revenue, and employees
- 5, 730 co-ops
- 86 billion revenue
- 200,000 employees
Manitoba co-ops: number of co-ops, revenue, and employees
- 400 co-ops
- 1.9 billion revenue
- 6,500 employees
Characteristics of co-ops
- provides goods and services to members
- owned and controlled by members
- members use co-op services
- a union of people
- one member= one vote
- locally owned by people in community
- profits are returned to community
Why do people form co-ops?
- people feel powerless in workplace
- no company provides the service they need
- jobs would disappear if they don’t
- want to keep profits in community
Other businesses (in comparison with co-ops)
- formed to make profit for shareholders
- owned by people who may never use services
- a union of money
- investors who live out of the community
- profits leave community
- controlled by those with the most shares
PegCity
a membership based car sharing service
Traditional Co-op types
1) producer
2) worker
3) consumer
