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Thursday, 4 October 2018

The Cooperative Principles

In running cooperative society and consumer shop, the early cooperative duro Rochdalers, device certain rules and practices and procedures, to guide them. In the course of time they decided to make some of the rules and practices their guiding and binding principles of cooperation. It was the rules and practices that we are raised to the status of principles which were to be hard headed by rock toddler in running their cooperative society. Echo 2001 six principle as a guiding policy, a philosophy, a practice which is highly respected or an idea which is regulated as valid independent of time and circumstances, a generalization accepted as time after having been deducted from fact many times observed and verified by experience. The Rochdale principles of operation has been accepted and regarded as the cooperative principles and where to be and headed to buy cooperative worldwide. Those principles according chukwu 1960 3 to 5 include;

1) open a voluntary membership.

2) democratic management and control.

3) limited returns on share capital.

4) patronage refunds in proportion to turnover.

5) neutrality in race religion and politics.

6) cash sales of goods at market prices.

7) sale of only pure, unadulterated goods.

8) continuous education of members.