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Development Redefined: Cooperatives as Business Entity

Sapovadia, Vrajlal (2016): Development Redefined: Cooperatives as Business Entity.

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Abstract

This study propose business framework for cooperatives as ideal medium of development. Globalisation and technology has changed the human life in last three decades. In light of themes selected by World Development Reports (WDR), we emphasize that development is refined. The cooperative as business entity fits as ideal medium of transforming society; a continuous development, in several spheres and inclusive. International organisations are striving best to make globe happier, through research and policy advocacy and interventions. We propose to open cooperative as business venture around each theme WDR has ascertained.

Cooperatives are social business entities and we see it from three angles. They are business organisations like any other. Cooperatives run its business propelled by cooperative principles. Cooperatives are legal entities, created and managed as per cooperative law of each state or country. Thus this paper give a basic framework, which can help cooperators to work upon with suitable modifications in their country to fit into suitable business model, legal framework but invariably within cooperative principle framework.

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