Briefly describe each cooperative management term in not more 100 words:

1. Cooperative – A cooperative is a group of people that work together to run a jointly owned and
democratically run firm (enterprise) in order to achieve their shared economic, social, and/or
cultural goals and objectives. Users of the cooperative’s goods, resources, and/or services are
considered to be its members. Although cooperatives frequently place a greater emphasis on
member services than on investments, profits are frequently distributed back to the
cooperative’s members. Cooperatives can be established for a variety of reasons or to address a
variety of needs, including joint processing of goods, cost sharing, shared labour control,
purchasing power (bulk purchases), sharing of workers and wages, and others.

2. Multi purpose cooperative – Multipurpose cooperatives, which functions on the basis of a fully
integrated framework of activities, planned according to member’s requirements. Multi-purpose
cooperative-combines 2 or more of the business activities of these different types of
cooperatives, e.g credit lending and production, production and provision of goods and services,
etc.

3. Universally accepted principles – Universally acceptance principles – Scientific principles

represents basic truth about a particular field of enquiry. These principles may be applied in all
situations, at all time & at all places. E.g. – law of gravitation which can be applied in all countries
irrespective of the time. Management also contains some fundamental principles which can be
applied universally like the Principle of Unity of Command i.e. one man, one boss. This principle
is applicable to all type of organization – business or non business.

4. CDA – The government organisation in charge of registering and overseeing cooperatives in the
Philippines in order for them to be permitted to legally function there is known as the
Cooperative Development Authority (CDA). A proactive and responsive lead government agency
for the promotion of sustained growth and full development of Philippine cooperatives for them
to become broad-based instruments of social justice, equity and balanced national progress.
Government regulations state that in order to register, an organisation must have at least 15
members and have the word “cooperatives” in its name. When looking for a cooperative,
registering with CDA is crucial. We offer complete support to domestic and international
businesses looking to register and ensure CDA compliance with our full range of business
registration services.

5. Subordination of the individual – According to the management philosophy that individual

interests should be subordinated, a company’s interests come before those of its employees.
To successfully complete these goals, managers and team leaders must combine the personal
aim with the organisational goal. To help them work towards the overarching organisational goal
and ultimately accomplish the company’s objectives, the employees should be led.
By doing this, it guarantees that everyone in the organisation is pursuing the same objectives.
Getting workers to cooperate while they are focused on their individual interests is challenging.
Within the organisation, this idea promotes a sense of cohesion. The likelihood of an employee
being motivated and productive is higher if they feel like they are a part of something greater
than themselves.