Welcome great EduPodian, here is your Second Term SS2 Commerce Scheme of Work and the excerpt of the Second Term SS2 Commerce Lesson Note.
Scheme of Work:
1 – 2 Co-operative Societies
3 – 4 Public Enterprises
5 Trade Associations/Chambers of Commerce
6 Industrial Combinations.
7-10 Insurance
11 Revision
12. Examination
WEEK ONE AND TWO Date: ____________
TOPIC: CO-OPERATIVE SOCIETIES
CONTENT
1. Definition
2. Principles of Co-operative Societies
3. Types of Co-operative Societies
4. Features of Co-operative societies
5. Advantages and disadvantages of Co-operative societies
6. Sources of Finance for a Co-operative society
A co-operative society is a voluntary association of persons, businessmen, traders or organization with common needs and interests. The resources of members of are pooled together to promote the economic and welfare interest of the members.
PRINCIPLES OF CO-OPERATIVE SOCIETIES
Co-operative societies are based on the following principles.
1. Open and Voluntary membership
2. Democratic management and control:
Decisions are taken by voting and each member of a co-operative society has one vote in all decisions taken by the society. In other words, voting does not depend on members shareholding
3. Distribution of surplus (i.e. profits) based on participation or patronage
4. Neutrality in race, politics and religion
5. Encouragement of the habit of saving and thrift
6. Promotion of education of members
7. Protection of members from exploitation of normal market forces
8. Sale of only pure goods: All goods offered for sale must be good quality (not inferior or imitations)
TYPES OF CO-OPERATIVES SOCIETIES
1. Consumers’ Co-operatives Society: This is formed by consumers who pool their resources together to buy essential commodities in bulk direct from manufacturers. Such commodities are then distributed or sold at reasonable prices to members.
2. Retails Co-operative Society: This is an association formed by many small independent retailers pooling their resources together and buying in bulk either from the manufacturers or wholesalers
3. Wholesale Co-operative Societies: Association of wholesalers buying in large quantities from the Manufacturer
4. Producers Co-operative Society: This is an association of producers of similar commodity who have come together for the promotion of the market for their products. They could also purchase tools and raw materials in bulk and share or sell them to members at reduced prices.
FUNCTIONS OF PRODUCERS CO-OPERATIVE SOCIETIES
a. Negotiation for better prices from buyers
b. Provision of…
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