A Summary Of Successful Attributes Required For An Effective Cooperation

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The Corporation

This paper will discuss the successful attributes required for a successful corporation to the corporate form of doing business. The characteristics of a corporation can define as an organization designed with state government related ratification to operate as an artificial person to continue business, which can prosecute or be prosecuted, and (unless it is non-profit) can issue shares of stock to increase funds with which to start a business or increase its capital.

The corporation is one form of business ownership. It’s a group of individuals working together to serve the variety of objectives. First of all we should understand cooperation and its fundamentals.

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Several elements are necessary for successful cooperation. Most of these attributes have been regularly recognized in the action. These points played a key role in determining the success in developing a quality product, as well as being highly collaborative.

A summary of successful attributes required for effective cooperation:

  • Commitment to team success and common aims – members are committed to the success of the group and their common aims for the project. Successful teams are encouraged, involved and focus to reach the peak;
  • Interdependence – we need to make an atmosphere where together can contribute much more than as an individual person. A good interdependent team atmosphere brings out the greatest in each individual person allowing the cooperation to achieve their targets at a much higher level.
  • Social Skills consist of the ability to discuss topics cooperatively with team members and other related persons, be truthful, reliable and helpful and show respect and commitment to the other. Encouragement of a thoughtful work atmosphere is important as well as the ability to work efficiently with other members;
  • Open Communication and helpful feedback – enthusiastically attending to the concerns and needs of group members and appreciating their association and expressing this helps to make an effective work atmosphere. We should be willing to give and receive beneficial critique and offer accurate response;
  • Suitable arrangement is important in the making of an effective cooperation. We should completely be aware of their specific team role and recognize what is expected of them in terms of their contribution to the job and the group;
  • Commitment to team processes, responsibility & leadership – we need to be responsible for our contribution to the project and the team. We should understand team processes and new ideas. Effective leadership is important for success as well as communal deciding and problem resolving.

Cooperatives business forms are unique to other corporations because of three unique ideologies: user-owner, user-controlled and user-benefited. The special thing of cooperatives is that the customers, owners and members could be the same person.

The user-owned means that the users are the only persons who are financing the cooperative by handling business.

User-controlled means that the directorate is chosen by the members of the cooperative and introduce as the connection in the middle of the membership and the boss.

User-benefited indicates that the members are the only persons benefiting from the cooperative because support repayments are repaid to the members due to the amount of business they are accompanied by the cooperative.  

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