A Co-operative (Leaving Cert Business): Flashcards
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Practise the cards
10 cards from this deck
Definition of a co-operative
Definition of a co-operative
Democratically controlled business jointly owned by members
Min. members needed to form a co-operative
Min. members needed to form a co-operative
Seven members
Voting principle in a co-operative
Voting principle in a co-operative
One member, one vote
Type of liability in a co-operative
Type of liability in a co-operative
Limited liability
Example of a co-operative
Example of a co-operative
Credit Union
Advantage: Control in a co-operative
Advantage: Control in a co-operative
Democratic control - each member has equal say
Main focus of a co-operative (not profit)
Main focus of a co-operative (not profit)
Member benefits and service quality
Disadvantage: Funding in a co-operative
Disadvantage: Funding in a co-operative
Limited external funding options
Disadvantage: Decision-making speed in co-op
Disadvantage: Decision-making speed in co-op
Democratic process can be slow
Disadvantage: Growth potential of co-operative
Disadvantage: Growth potential of co-operative
Limited - restricted to member contributions and profits