...Co-operative society, its expansion and future possibilities in context of Bangladesh Co-operative Society: A Co-operative society is essentially an association of persons who joined together in a voluntary basis for the further once of their common economic interests. Short Overview on Co-operative Society: The co-operative movement began in Europe in the 19th century, primarily in England and France, although The Shore Porters’ Society claims to be one of the world's first co-operatives, being established in Aberdeen in 1498. The industrial revolution and the increasing mechanization of the economy transformed society and threatened the livelihoods of many workers. The concurrent labor and social movements and the issues they attempted to address describe the climate at the time. The first co-operative may have been founded on March 14, 1761, in a barely-furnished cottage in Fenwick, East Ayrshire, when local weavers manhandled a sack of oatmeal into John Walker's whitewashed front room and began selling the contents at a discount, forming the Fenwick Weavers' Society. In the decades that followed, several co-operatives or co-operative societies formed including Lennoxtown Friendly Victualling Society, founded in 1812. The early attempts at forming co-operatives met with varying degrees of success, and it was not until 1844 when the Rochdale Society of Equitable Pioneers established the 'Rochdale Principles' on which they ran their co-operative, that the basis for development...
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...Customer Engagement at The Co-operative Food Customer Engagement is going beyond exceptional service and is about delivering more personalized experiences based on authentic relationships with customers. The more the store owner knows about the customer, the more personalized the customer experience will be. This, in turn, leads to repeat sales and having potential loyal customers. Co-operative Food sees new technology as a main factor of improving customer engagement and they put emphasis on consumers to make more ethical choices. Sustaining engaging relationships with hundreds or potentially thousands of customers is an impossible task for Co-operative Food. This is why they focus on engaging marketing efforts with their top customers as defined by repeat sales and word-of-mouth referrals. They use online tools to help them manage all of this information. Co-operative Food want to cultivate stronger relationships with those top customers by providing insider deals and other perks not offered to their larger customer base. social media is an established platform for building good customer relationships. They can effectively engage with their customers both online and offline and comes down to: A passion for their business that comes through in the way they interact with customers, talk about their products and services, and freely share their expertise. Sincere interest in helping customers make the right purchasing decisions based on their particular needs. Enthusiasm...
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...nature of how they carry out their activities. These values are the personality, or culture, of the organization. Many writers have attempted to state the nature, characteristics and principles of the organization in their own way. For instance to their sociologist, organization means a study of the interaction of the people, classes or hierarchy of an enterprise, to the physiologist. Organization means an attempt to explain, predict and influence behavioral of individuals in an enterprise. The organization is widely used to connect a group of people and the structure of relationship. Organizations, according to Gary Johns, are social inventions for accomplishing goals through group efforts. Organization is a group of people working together co-operatively under authority towards...
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...activities and then allocates a cost to each activity. ABC subsequently assigns these costs to all the services or products associated with the actual consumption. By applying ABC, a business can accurately estimate the cost of an individual product or service. Organisations can then recognize and remove those products or services that are unprofitable or adjust pricing to match strategic decisions. This tool is generally used for evaluating product/service and customer cost and profitability. Thus ABC can be used to support strategic decisions such as pricing, outsourcing, identification and measurement of process enhancement initiatives. EXTRA QUESTION: What differences do you see between applying ABC in a service company (as the Co-Operative Bank) and in a manufacturing company? MANUFACTURED PRODUCT OR SERVICE PERSPECTIVE The immense difference between applying ABC to a service company as apposed to a manufacturing company is that with a manufacturing company, the product costs are easily identifiable and quantifiable because they consist of direct materials and direct labour associated with the products. Manufacturing overheads or indirect production costs can be allocated towards the product using absorption costing relatively easily unless management want to perform a more accurate intensive ABC model that will be more tedious and thus extremely time consuming. However with a service company, the direct costs associated with a job or service product is not as...
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...2009: The Bank records a most phenomenal increase in customer accounts from just over 700,000 as at the close of 2008 to over 1.1 million at the close of 2009 driven by MD Liability Campaign launched by the CEO that requires staff to open a minimum of 5 accounts per month. 2008: The bank lists on the Nairobi Stock Exchange on December 22. The listing follows a public offer of 701.3 million shares at Kshs 9.50 which achieves an 81% subscription to raise Kshs 5.4 billion in additional capital on top of the existing Kshs 7.4 billion. This is made possible as the bank's special general meeting on 27th June approves conversion of the bank to a limited liability company from a co-operative society that it has been since inception in 1965. All previous shares held by the Co-operatives are ring-fenced under the Co-opholdings...
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...MBA (2011-13) – Semester IV – ACTIVITY BASED COSTING ASSIGNMENT - LEARNING EXERCISE Students will select a company or firm or business unit in any one of the following industries: 1) Manufacturing 2) Insurance 3) Bank 4) Health care 5) Hospitality 6) Government 7) Service Each student should explore the internet for an example of a company that had implemented Activity Based Costing (ABC) and Activity Based Management (ABM) with a focus on determining customer profitability. Prepare a report (suggested length – not more than 10 pages) covering the following and give a briefing in the class: 1) Describe, in brief, the company and its business. 2) What was the problem faced by the business or company? 3) What was the scope of ABC / ABM project? 4) What were the goals for the ABC / ABM project? 5) How ABC/ABM was implemented? 6) Summarize the results achieved after implementation of the project. Financial evaluation of results by quantification expected. 7) Your observations, comments, criticism and suggestions, if any. 8) Legend, bibliography, references etc. Submit assignment to Exam Section. Print-out of PPTs (handout mode – 4 or 6 slides per page) can be submitted later, but before presentation in the class. Important: This is an individual assignment and each student should select different company from the sector selected for study and complete the...
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...------------------------------- Page 3 2.0 The history of the Co-operative Group--------------------------------------- Page 3 3.0 The strategies and reason for the growth in Co-operative---------------- Page 3 4.0 Finding 4.1 The definition of PESTLE Analysis-------------------------------------- Page 4 4.2 Political factor --------------------------------------------------------------- Page 4 4.3 Economic factor ------------------------------------------------------------- Page 5 4.4 Socio-logical factor --------------------------------------------------------- Page 5 4.5 Technology factor ----------------------------------------------------------- Page 6 4.6 Legal factor ------------------------------------------------------------------- Page 6 4.7 Environment factor --------------------------------------------------------- Page 7 5.0 Conclusion ---------------------------------------------------------------------Page7 6.0 References List----------------------------------------------------------------Page7 1.0 Introduction This report will focus on the Co-operative Group and seek to identify the main areas of business environment such as the strategies of Co-operative Group which helped it to grown into such a big company, the definition of PESTEL analyses, and use the PESTLE analysis tools to scrutiny how six factors of external environment affected Co-operative Group. After the evaluating of these factors, this report will give...
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...Corporate social responsibility (CSR) isn't just about doing the right thing. It means behaving responsibly, and also dealing with suppliers who do the same. It also offers direct business benefits. See the page in this guide on how to benefit from corporate social responsibility. Building a reputation as a responsible business sets you apart. Companies often favour suppliers who demonstrate responsible policies, as this can have a positive impact on how they are perceived by customers. Some customers don't just prefer to deal with responsible companies, but insist on it. The Co-operative Group, for instance, place a strong emphasis on its corporate social responsibility and publishes detailed 'warts and all' reports on its performance on a wide range of criteria - from animal welfare to salt levels in its pizzas. Find out about The Co-operative Group's approach to CSR on the Co-operative Group website - Opens in a new window. Reducing resource use, waste and emissions doesn't just help the environment - it saves you money too. It's not difficult to cut utility bills and waste disposal costs and you can bring immediate cash benefits. For more information read our guide on how to save money by reducing, reusing and recycling waste. There are other benefits too: - A good reputation makes it easier to recruit employees. - Employees may stay longer, reducing the costs and disruption of recruitment and retraining. - Employees are better motivated and more productive. - CSR...
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... INTRODUCTION 1.1 Background of the study 'Co-operative' refers to work together for common benefit. A co-operative organization is such an organization which is established by economically weak persons. This organization functions under their mutual co-operation of all the members. Specially, co-operative organization is such autonomous organization, which is established voluntarily by the group of persons for the fulfillment of the social, economical and cultural expectations with the democratic control and flow. If we analyze the history of it, we can find that it is the organization established by economically and socially exploited people from the rich businessmen. At the outset, the co-operative organization came into existence after the establishment of consumers co-operative society named as 'Rochdale society of equitable pioneers' in England by Robert Owen with the objective of saving poor people from economic exploitation, to eliminate the middlemen and to make the ideal society in October 24, 1944 A.D. After the establishment of it, such organizations were developed in Germany, Italy, France, and Japan in 1850 A.D. Sulj established a co-operative organization to save the farmers providing the loan at the lower rate of interest with the result of the development of co-operatives, International Co-operative Alliances were established in 1895 A.D. in England. "Co-operative is the form of organization in which persons voluntarily associate...
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...co-operatives are relevant because they bring large number of people under one group and provide them employment hence in one way they are removing the problem of unemployment by providing job opportunities to many people and that job is also free of corruption, contributing to the growth of people and our nation. These are now a days, becoming more popular than private and public sectors because of their characteristics of providing job opportunities to many people. Globalisation, as it is meant officially, seeks to promote competition in the economic playground, amongst the so-called 'global players' i.e. the businessmen across the frontiers of the nation-states. Co-operation against such a backdrop appears to be an outdated, obsolete and ludicrous concept. The cases, as appear obvious in such a regime, against co-operation are: I) Cooperation is a congregation of "too many", unnecessary in the environment congenial for competition. This rears and promotes inefficiency and wastage. Ii) The democracy co-operation is said to promote and sustain is a myth. Iii) The "overcrowding" does not necessarily ensure expertness in management. Iv) Despite bulge in number of membership, provision for capital may fall short of sufficiency. V) Lack of state of the art technology is often experienced. Vi) Inefficiency brings about lower profitability leading to poor incentives causing lower motivation, insufficient capital formation and poor performance. Vii) Thus, incapability...
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...51 Rural Development and Co-operatives Division 1.0 Introduction 1.1 About 70% people of Bangladesh live in rural areas. Without the development of this segment of the population the overall development of the country is not possible. In a developing economy like Bangladesh, for formulating policies for eradication of poverty it is very important to ensure equality between man and woman. Rural Development and Co-operatives Division is working intensively to eliminate poverty and to foster inclusive growth. This Division is also working to empower women economically and socially through women’s education, increasing funds, providing micro-credits and providing employment to women in business. Thus, women’s participation in economic growth is increasing every year and this is a prerequisite for sustainable development 1.2 Co-operatives are worldwide popular tools for poverty alleviation. To improve the status of poor people living in the rural areas, the Government of Bangladesh had setup the Rural Development and Cooperatives Division (RDCD) under the Ministry of Local Government, Rural Development and Cooperatives. RDCD expands rural development through related applied research with multi-purpose actions with poverty alleviation at the core. RDCD also provides opportunities for self-employment of rural people and human resource development. Poverty alleviation is one of the top priorities for the government and women’s development is a n integral...
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...The Co-operative Society is yet another form of business organisation. It is formed in a similar manner like a Joint Stock Company. It is a unique form of organisation. It is started with the motive of organising and rendering services to its members. The first ever Co-operative movement was started by ROBERT OWEN in the year 1844, with 28 members called as ROCHDALE Society of Equitable Pioneers. It was a consumer's Co-operative Society. Definitions: The Word 'Co-operation' is derived from the Latin word 'Co-operative' meaning "to work with". It has been defined in various ways. 1. Calvert: "Co-operation is a form of organisation wherein the persons voluntarily associate together as human being on a basis of equality for the promotion of economic interests of themselves". 2. Talmaki: "It is an association of the weak who gather together for a common economic need and try to lift themselves from weakness into strength through business orgasnisation". 3. Sir Horace Plukelt: "Co-operation is self-help rendered effective by organisation. It is better farming, better business, better living". 4. International Labour Officer: "An association of persons, usually of limited means, who have voluntarily joined together, to achieve a common economic end, through the formation of a democratically controlled business organisation, making equitable contributions to the capital required and accepting a fair share of risks and benefits of the undertaking." 5. Dr. T.V. Raju:...
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...Trading Among Farmers (TAF) and the future of the New Zealand Dairy Industry. On the 25th June 2012, farmer shareholders in the Co-Op Fonterra, voted in favour of implementing TAF. TAF allows outside capital in the form of buying units; in return for rights to dividends, but not ownership or votes. When researched; there is no agricultural co-op in the world that has taken outside capital and still primarily focused on maximising returns to the supplying shareholders, (ourco-op.co.nz) as primary focus becomes the share price and dividend, eventuating in the demise of the co-operative. A co-operative is set up by its shareholders to maximise the price for the suppliers milk. Shareholders invest their share capital into a co-operative in return they give loyal supply of the raw material (milk). Farmers will want to supply Fonterra because they own them. When you introduce outside investors you introduce different drivers to the business. Outside investors invest capital to receive a good dividend. The Directors are torn what do they do with company profits, do they retain funds to make the balance sheet strong, do they maximise the milk price or do they maximise the dividend? This divergence of interests will eventually lead to the demise of the co-op. For example Satara and EastPack in the kiwifruit industry. Historically they were both co-ops competing against one another for a number of years. Satara then listed its investor shares on the NZAX. It now had supplying...
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...MERCK AND RIVER BLINDNESS 1. Think about the definition of stakeholders — any parties with a stake in the organization’s actions or performance. Who are the stakeholders in this situation? How many can you list? On what basis would you rank them in importance? People suffering from the disease or those who potentially may be infected – would directly benefit from the cure Merck employees at all levels – profitability and the economic health of the company affects current employees Merck shareholders – inability to profit from the drug might have a negative effect on shareholder’s value, but taking the stand on “doing the right thing” might have a favorable effect on company’s reputation and increase the value of the stock Various healthcare organizations – Merck is one of the leaders in the industry whose actions or inactions may affect the state of the industry as a whole One way to rank stakeholders in importance is by their level of benefit from the drug putting people suffering from the disease in the first place as they would benefit the most from the invent of the cure. Then, employees and shareholders would share the second place, provided that the company would most likely not be able to recover funds invested in the long and expensive process of developing the drug which in turn would affect company’s profitability. Finally, various healthcare organizations would rank third; the effect on them would depend on the level of their involvement in the process...
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...In his prologue to Daphnis and Chloe, Longus refers to his four books as “a0na/qhma me\n7!Eroti kai\ Nu/mfaij kai\ Pani/” (Pr 2.3-4). Coming before any of the action of the novel, the reader asks, and for good reason, why these three gods or sets of gods? Then in the final book, Daphnis gives “a0naqh/mata…tw~| Dionu/sw|…tw~| Pani\...tai~j Nu/mfaij” (4.26.6-8). Here Dionysus has filled the place of Eros, or, as I shall argue, Dionysus represents the same universal force as Eros in the earlier books. These divinities, Eros/Dionysus, Pan, and the Nymphs, directly influence the lives of the titular protagonists. Their influence serves different purposes depending on what the situation calls for, but, overall, the influences could be labeled as such: Eros/Dionysus controls their lives, the Nymphs nurture the youths, and Pan enflames their passion. In many Greek novels, Eros functions as a stock figure, “not much more than a convenient method of setting [the] plot in motion” (Turner 119). Critics have heavily studied the role of Eros in this novel, and many find that the text of Daphnis and Chloe can be seen as an introductory text for syncretic monotheistic religions, specifically that of Orphic Dionysus. This argument holds valid, yet, I think, over reads the text, and Chalk admits as an introductory text, it is merely “allusive” and not clearly instructive (36). Philetas certainly describes the “cosmic Eros” found in Hesiod’s Theognis in his interaction with Eros in his garden...
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