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The Role Of Agriculture Cooperative Societies In Food Production
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1.7 DEFINITION OF TERMS
1. ENTERPRISE
This is institution of businesses that perform services and provides good for its members.=
2. INTEGRATION
This
is the act and measure towards influencing the level of enlightenment,
understanding and consequently, personal emotional feeling of the member
towards co-operative in a positive direction.
3. PATRONAGE REFUNDS
These
are special rights accrued to members in terms of surplus in proportion
to the individual members turnover under payment in marketing
co-operative.
4. CO-OPERATIVE EFFECT
The degree of extra
satisfaction, which a member derives as a result of participation in the
co-operative as compared to working done.
5. SOCIOLOGICAL GROUP
This group of people with different roles, commons identify common value, internal structure, good level of communication etc.
6. RESERVE FUNDS
Reserve
funds are funds created and maintained with the co-operative business
enterprise for different reasons but especially as a form of security
against negative eventualities.
7. CO-OPERATIVE NISUS
The
functional relationship between members of business units, and
co-operative business unit or the degree of integration between the
private unit and the co-operative business enterprise.
8. RETURNS
These are monetary values resulting from the sale of output of the enterprise.
9. STATUTORY RESERVES
They are reserves that are created by low whether members like it or not.
10. VOLUNTARY RESERVES
They are reserves by the act of free will of the members.
11. SHARE CAPITAL
This
is the money contributed by members in other to make their co-operative
functional, usually on their acquisition of membership.
12. LOAN BONDS
These are loan agreements, which every borrower has to sign for the co-operative enterprise.
13. QUORUM
This is the minimum number of co-operative members allowed in the byelaw to make decision for the society.
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ABSRACT - [ Total Page(s): 1 ]Modern form of Co-operative leaves their origin in the tension and opportunities created by industrialization and urbanization in the nineteenth Century in Europe. Much of the early interested in co-operative structure seemed from deep regards to the social consequence of industrial capitalism, critics of the new order not simply a framework for business organisation but also as a vehicle for the reutilization of radical social and political goals. However, much concepts of c-operative have been ... Continue reading---
