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OSM   – Prof. Rajesh Satpathy
Sole
Proprietorship



 A ‘sole proprietorship’, also known as the sole trader or simply
 a proprietorship, is a type of business entity that is owned and run
 by one individual and in which there is no legal distinction between
 the owner and the business.

 The owner receives all profits (subject to taxation specific to the
 business) and has unlimited responsibility for all losses and debts.
Sole
Proprietorship
Sole
Proprietorship



 Every asset of the business is owned by the proprietor and all debts
 of the business are the proprietor's. It is a "sole" proprietorship in
 contrast with partnerships.

 A sole proprietor may use a trade name or business name other
 than his or her legal name. In many jurisdictions there are rules to
 enable the true owner of a business name to be ascertained.
Sole
Proprietorship



 According to Glos and Baker "A sole proprietorship is a business
 owned by one person who is entitled to all of its profits,
 and

 Reed and Conover say "The single or the sole proprietorship is a
 business owned and controlled by one man even though he may
 have many other persons working for him.
Advantages of
Proprietorship



 This entity having the ability to raise capital either publicly or
 privately, to limit the personal liability of the officers and managers,
 and to limit risk to investors. Sole proprietorships also have the
 least government rules and regulations affecting it.

 Owners have complete control over all the aspects of his business
 and can take any managerial decisions that he/ she wants to take.
Disadvantages of
Proprietorship


Raising capital for a proprietorship is more difficult because an
unrelated investor has less peace of mind concerning the use and
security of his or her investment and the investment is more
difficult to formalize, other types of business entities have more
documentation.

As a business becomes successful, the risks accompanying the
business tend to grow. One of the main disadvantages of sole
proprietors is unlimited liability where the owner's personal assets
can be taken away.
Partnership




A partnership is an arrangement where parties agree to cooperate
to advance their mutual interests.

Since humans are social beings, partnerships between
individuals, businesses, interest-based organizations, schools,
governments, and varied combinations thereof, have always been
and remain commonplace.
Partnership
Partnership



In the most frequently associated instance of the term, a
partnership is formed between one or more businesses in which
partners (owners) co-labor to achieve and share profits and losses.

Partnerships exist within, and across, sectors. Non-profit, religious,
and political organizations may partner together to increase the
likelihood of each achieving their mission and to amplify their
reach.

Examples: Unicef + NHRM, NDA, UPA 1, UPA 2
Cooperatives


A cooperative is a legal entity owned and democratically controlled
by its members. Members often have a close association with the
enterprise as producers or consumers of its products or services, or
as its employees.

Cooperatives may take the form of companies limited by shares or
by guarantee, partnerships or unincorporated associations.

Cooperatives often share their earnings with the membership
as dividends, which are divided among the members according to
their participation in the enterprise, such as patronage, instead of
according to the value of their capital shareholdings.
Cooperatives
Cooperatives




  Amongst the Asia's largest milk co-operative, Gujarat Co-operative Milk
Marketing Federation (GCMMF) selling dairy products under the brand ‘Amul’.
Cooperatives



Cooperatives are typically based on the cooperative values of "self-
help, self-responsibility, democracy and equality, equity and
solidarity" and the seven cooperative principles:

> Voluntary and open membership
> Democratic member control
> Economic participation by members
> Autonomy and independence
> Education, training and information
> Cooperation among cooperatives
> Concern for community
Cooperatives




Cooperatives are dedicated to the values of openness, social
responsibility and caring for others. Such legal entities have a range
of social characteristics. Membership is open, meaning that anyone
who satisfies certain non-discriminatory conditions may join.

Economic benefits are distributed proportionally to each member's
level of participation in the cooperative, for instance, by a dividend
on sales or purchases, rather than according to capital invested.
Types of
Cooperative governance

Retailers' cooperative:

A retailers' cooperative (known as a secondary or marketing
cooperative in some countries) is an organization which
employs economies of scale on behalf of its members to receive
discounts from manufacturers and to pool marketing.

It is common for locally owned grocery stores, hardware
stores and pharmacies. In this case the members of the
cooperative are businesses rather than individuals.
Types of
Cooperative governance


Worker cooperative:


A worker cooperative or producer cooperative is a cooperative,
that is owned and democratically controlled by its "worker-
owners". There are no outside owners in a "pure" workers'
cooperative, only the workers own shares of the business, though
hybrid forms exist in which consumers, community members or
capitalist investors also own some shares.
Types of
Cooperative governance
In practice, control by worker-owners may be exercised through
individual, collective or majority ownership by the workforce, or
the retention of individual, collective or majority voting rights
(exercised on a one-member one-vote basis).

A worker cooperative, therefore, has the characteristic that the
majority of its workforce owns shares, and the majority of shares
are owned by the workforce.Membership is not always compulsory
for employees, but generally only employees can become members
either directly (as shareholders) or indirectly through membership
of a trust that owns the company.
Types of
Cooperative governance


Volunteer cooperative:

A volunteer cooperative is a cooperative that is run by and for a
network of volunteers, for the benefit of a defined membership or
the general public, to achieve some goal. Depending on the
structure, it may be a collective or mutual organization, which is
operated according to the principles of cooperative governance.
The most basic form of volunteer-run cooperative is a voluntary
association.
Types of
Cooperative governance


The cooperation between Young Biologist Association
NGO and Let's do it! World international ecological movement has
become the basis for establishment of the “Let’s do it!
Armenia” movement in Armenia.

This year, this movement aims to carry out the volunteer initiative
“Armenia Without Garbage” which involves a number of activities ,
cleanup campaign, seminars etc. The basis of the worldwide
movement “Let's Do It! World” is the big cleanup (Let's do it!
2008) organized in Estonia in 2008, during which more than 50 000
volunteers were able to clean up Estonia from 10,000 tons of
waste.
Types of
Cooperative governance

Social cooperative:

A particularly successful form of multi-stakeholder cooperative is
the Italian "social cooperative", of which some 7,000 exist.

"Type A" social cooperatives bring together providers and
beneficiaries of a social service as members.

"Type B" social cooperatives bring together permanent workers
and previously unemployed people who wish to integrate into the
labor market.
Types of
Cooperative governance


Social cooperative:

Social co-operatives exist to provide social services such as the care
of children, elderly and disabled people, and the integration of un
employed people into the workforce.

In countries such as Sweden and Britain they exist without any
special legislation, while elements of the Italian model have been
legislated for in Belgium and Poland.
Types of
Cooperative governance
Consumers' cooperative :

A consumers' cooperative is a business owned by its customers.
Employees can also generally become members. Members vote on
major decisions and elect the board of directors from amongst
their own number.

The first of these was set up in 1844 in the North-West of England
by 28 weavers who wanted to sell food at a lower price than the
local shops. A well known example in the United States is
the REI (Recreational Equipment Incorporated) co-op, and in
Canada (Mountain Equipment Co-op).
Types of
Cooperative governance
Types of
Cooperative governance
Types of
Cooperative governance
Business and employment cooperative:

Business and employment cooperatives (BECs) are a subset of
worker cooperatives that represent a new approach to providing
support to the creation of new businesses.

Like other business creation support schemes, BECs enable
budding entrepreneurs to experiment with their business idea
while benefiting from a secure income. The innovation BECs
introduce is that once the business is established the entrepreneur
is not forced to leave and set up independently, but can stay and
become a full member of the cooperative.
Types of
Cooperative governance
Business and employment cooperative:

The micro-enterprises then combine to form one multi-activity
enterprise whose members provide a mutually supportive
environment for each other.

BECs thus provide budding business people with an easy transition
from inactivity to self-employment, but in a collective framework.
They open up new horizons for people who have ambition but who
lack the skills or confidence needed to set off entirely on their own
– or who simply want to carry on an independent economic activity
but within a supportive group context.
Types of
Cooperative governance
New generation cooperative:

New generation cooperatives (NGCs) are an adaptation of
traditional cooperative structures to modern, capital intensive
industries. They are sometimes described as a hybrid between
traditional co-ops and limited liability companies.

They were first developed in California and spread and flourished
in the US Mid-West in the 1990s.They are now common in Canada
where they operate primarily in agriculture and food services,
where their primary purpose is to add value to primary products.
For example producing ethanol from corn, pasta from durum
wheat, or gourmet cheese from goat’s milk.
Thank You!

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Osm cooperatives mnc 2

  • 1. OSM – Prof. Rajesh Satpathy
  • 2. Sole Proprietorship A ‘sole proprietorship’, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts.
  • 4. Sole Proprietorship Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. It is a "sole" proprietorship in contrast with partnerships. A sole proprietor may use a trade name or business name other than his or her legal name. In many jurisdictions there are rules to enable the true owner of a business name to be ascertained.
  • 5. Sole Proprietorship According to Glos and Baker "A sole proprietorship is a business owned by one person who is entitled to all of its profits, and Reed and Conover say "The single or the sole proprietorship is a business owned and controlled by one man even though he may have many other persons working for him.
  • 6. Advantages of Proprietorship This entity having the ability to raise capital either publicly or privately, to limit the personal liability of the officers and managers, and to limit risk to investors. Sole proprietorships also have the least government rules and regulations affecting it. Owners have complete control over all the aspects of his business and can take any managerial decisions that he/ she wants to take.
  • 7. Disadvantages of Proprietorship Raising capital for a proprietorship is more difficult because an unrelated investor has less peace of mind concerning the use and security of his or her investment and the investment is more difficult to formalize, other types of business entities have more documentation. As a business becomes successful, the risks accompanying the business tend to grow. One of the main disadvantages of sole proprietors is unlimited liability where the owner's personal assets can be taken away.
  • 8. Partnership A partnership is an arrangement where parties agree to cooperate to advance their mutual interests. Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace.
  • 10. Partnership In the most frequently associated instance of the term, a partnership is formed between one or more businesses in which partners (owners) co-labor to achieve and share profits and losses. Partnerships exist within, and across, sectors. Non-profit, religious, and political organizations may partner together to increase the likelihood of each achieving their mission and to amplify their reach. Examples: Unicef + NHRM, NDA, UPA 1, UPA 2
  • 11. Cooperatives A cooperative is a legal entity owned and democratically controlled by its members. Members often have a close association with the enterprise as producers or consumers of its products or services, or as its employees. Cooperatives may take the form of companies limited by shares or by guarantee, partnerships or unincorporated associations. Cooperatives often share their earnings with the membership as dividends, which are divided among the members according to their participation in the enterprise, such as patronage, instead of according to the value of their capital shareholdings.
  • 13. Cooperatives Amongst the Asia's largest milk co-operative, Gujarat Co-operative Milk Marketing Federation (GCMMF) selling dairy products under the brand ‘Amul’.
  • 14. Cooperatives Cooperatives are typically based on the cooperative values of "self- help, self-responsibility, democracy and equality, equity and solidarity" and the seven cooperative principles: > Voluntary and open membership > Democratic member control > Economic participation by members > Autonomy and independence > Education, training and information > Cooperation among cooperatives > Concern for community
  • 15. Cooperatives Cooperatives are dedicated to the values of openness, social responsibility and caring for others. Such legal entities have a range of social characteristics. Membership is open, meaning that anyone who satisfies certain non-discriminatory conditions may join. Economic benefits are distributed proportionally to each member's level of participation in the cooperative, for instance, by a dividend on sales or purchases, rather than according to capital invested.
  • 16. Types of Cooperative governance Retailers' cooperative: A retailers' cooperative (known as a secondary or marketing cooperative in some countries) is an organization which employs economies of scale on behalf of its members to receive discounts from manufacturers and to pool marketing. It is common for locally owned grocery stores, hardware stores and pharmacies. In this case the members of the cooperative are businesses rather than individuals.
  • 17. Types of Cooperative governance Worker cooperative: A worker cooperative or producer cooperative is a cooperative, that is owned and democratically controlled by its "worker- owners". There are no outside owners in a "pure" workers' cooperative, only the workers own shares of the business, though hybrid forms exist in which consumers, community members or capitalist investors also own some shares.
  • 18. Types of Cooperative governance In practice, control by worker-owners may be exercised through individual, collective or majority ownership by the workforce, or the retention of individual, collective or majority voting rights (exercised on a one-member one-vote basis). A worker cooperative, therefore, has the characteristic that the majority of its workforce owns shares, and the majority of shares are owned by the workforce.Membership is not always compulsory for employees, but generally only employees can become members either directly (as shareholders) or indirectly through membership of a trust that owns the company.
  • 19. Types of Cooperative governance Volunteer cooperative: A volunteer cooperative is a cooperative that is run by and for a network of volunteers, for the benefit of a defined membership or the general public, to achieve some goal. Depending on the structure, it may be a collective or mutual organization, which is operated according to the principles of cooperative governance. The most basic form of volunteer-run cooperative is a voluntary association.
  • 20. Types of Cooperative governance The cooperation between Young Biologist Association NGO and Let's do it! World international ecological movement has become the basis for establishment of the “Let’s do it! Armenia” movement in Armenia. This year, this movement aims to carry out the volunteer initiative “Armenia Without Garbage” which involves a number of activities , cleanup campaign, seminars etc. The basis of the worldwide movement “Let's Do It! World” is the big cleanup (Let's do it! 2008) organized in Estonia in 2008, during which more than 50 000 volunteers were able to clean up Estonia from 10,000 tons of waste.
  • 21. Types of Cooperative governance Social cooperative: A particularly successful form of multi-stakeholder cooperative is the Italian "social cooperative", of which some 7,000 exist. "Type A" social cooperatives bring together providers and beneficiaries of a social service as members. "Type B" social cooperatives bring together permanent workers and previously unemployed people who wish to integrate into the labor market.
  • 22. Types of Cooperative governance Social cooperative: Social co-operatives exist to provide social services such as the care of children, elderly and disabled people, and the integration of un employed people into the workforce. In countries such as Sweden and Britain they exist without any special legislation, while elements of the Italian model have been legislated for in Belgium and Poland.
  • 23. Types of Cooperative governance Consumers' cooperative : A consumers' cooperative is a business owned by its customers. Employees can also generally become members. Members vote on major decisions and elect the board of directors from amongst their own number. The first of these was set up in 1844 in the North-West of England by 28 weavers who wanted to sell food at a lower price than the local shops. A well known example in the United States is the REI (Recreational Equipment Incorporated) co-op, and in Canada (Mountain Equipment Co-op).
  • 26. Types of Cooperative governance Business and employment cooperative: Business and employment cooperatives (BECs) are a subset of worker cooperatives that represent a new approach to providing support to the creation of new businesses. Like other business creation support schemes, BECs enable budding entrepreneurs to experiment with their business idea while benefiting from a secure income. The innovation BECs introduce is that once the business is established the entrepreneur is not forced to leave and set up independently, but can stay and become a full member of the cooperative.
  • 27. Types of Cooperative governance Business and employment cooperative: The micro-enterprises then combine to form one multi-activity enterprise whose members provide a mutually supportive environment for each other. BECs thus provide budding business people with an easy transition from inactivity to self-employment, but in a collective framework. They open up new horizons for people who have ambition but who lack the skills or confidence needed to set off entirely on their own – or who simply want to carry on an independent economic activity but within a supportive group context.
  • 28. Types of Cooperative governance New generation cooperative: New generation cooperatives (NGCs) are an adaptation of traditional cooperative structures to modern, capital intensive industries. They are sometimes described as a hybrid between traditional co-ops and limited liability companies. They were first developed in California and spread and flourished in the US Mid-West in the 1990s.They are now common in Canada where they operate primarily in agriculture and food services, where their primary purpose is to add value to primary products. For example producing ethanol from corn, pasta from durum wheat, or gourmet cheese from goat’s milk.