Putting Up A Cooperative Store

Families who are looking for livelihood opportunities to increase their family income can join or form a cooperative in the community. Among the classes of the cooperatives which are easy to put up and manage is a cooperative.

A cooperative store is put up and serves the needs of families in the community, especially those with low income. To put up a cooperative store, a temporary leader calls a meeting of all those interested in forming a cooperative. They discuss at the meeting the main objectives and purposes of the cooperative to be put up.

The manager and the members of the

board of directors are chosen and voted upon. They set rules and regulations that should be observed in running the cooperative store.

Some of these rules and regulation are as follows:

1. Membership is on a voluntary basis.

2. Members should possess sufficient knowledge and information about cooperatives before joining the group.

3. Each member can vote only once.

4. Each member should attend meetings regularly.

5. A board of directors elected by the members should manage the cooperative.

6. Interest from the capital should not exceed the interest set by government policy.

7. Every member should receive a dividend based on the share capital.

8. Members have the right to patronize the store first before the non-members.

Every member and board of directors should be aware of their rights as well as duties and responsibilities.

Duties of every member

1. Know the commodities needed by the members as well as other customers so that these would be made available to them.

2. Arrange these commodities where they can attract buyers or customers.

3. Assists in the pricing, labeling, displaying, and storing the commodities.

4. Assist in purchasing, selling, and making an inventory of commodities.

5. Attend to customers courteously and sincerely.

6. Be honest in selling commodities.

7. Patronize the cooperative store.

8. Keep the store and its surroundings clean and orderly.

Rights of every member

1. Choose and vote for the members of the Board of Directors.

2. Attend all the meetings in order to

be informed of important matters about the cooperative and express comments or suggestions to improve the cooperative’s operations.

3. Consult the Board of Directors on important matters.

4. Assist in the management of the cooperative store.

5. Receive dividends from his shared capital.

Duties of the Board of Directors

1. Take care of the welfare of the cooperative ad its members.

2. Take charge of implementing the rules and by-laws of the organization.

3. Manage the activities of the cooperative and solve problems, if there are any.

Rights of the Board of Directors

1. Implement the rules and regulations of the cooperatives.

2. Manage all the activities of the cooperatives.

3. Choose the personnel or group to manage the cooperative store.

The Board of Directors is headed by a Chairman of the Board who serves as the consultant of the other members of the board, particularly in decision-making. The Chairman presides over the meetings of the cooperative. He also sees to it that the rules and regulations of the cooperative are followed.

The cooperative store is run by a manager who should possess desirable traits and character because on his management lies the success and failure of the cooperative.

Qualities of an efficient and effective manager

1. Possesses high quality of morality and integrity.
2. Honest, dependable, and trustworthy.
3. Possesses sufficient knowledge and skill in management.
4. Has sufficient experience in managing cooperatives.

Article Written By joeldgreat

Where I belong...New ways to contribute to humanity by posting relevant blogs and articles. Back from the grave..

Last updated on 29-07-2016 4K 0

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