Towards Genuine Cooperatives: Prerequisites for Cooperative Success or Criteria for Genuine Cooperative Societies

Abstract

In this article the writer presents a number of factors or prerequisites considered essential for the success of a cooperative society. In the view of the writer a large number of cooperatives in developing countries do not meet the requirements that would characterize a genuine cooperative society. Most cooperatives are government-initiated and should rightly be labelled "pseudo” cooperatives as they do not fulfill the criteria for a genuine cooperative society.Still government has a positive role to play in supporting and promoting cooperative development in the same way as government support and encouragement is important for the development of other types of economic enterprises.