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What is the term for an organization owned and controlled by its members who work for a common goal?
The term for an organization owned and controlled by its members working toward a common goal is a "cooperative" or "co-op." Co-ops are typically formed to meet the mutual needs of their members, whether in agriculture, retail, housing, or other sectors, and emphasize democratic decision-making and shared profits.
What type of banks is a nonprofit organization owned by the members?
A nonprofit organization owned by its members is typically referred to as a credit union. Credit unions operate as cooperative financial institutions, where members pool their savings to provide loans and other financial services to one another. Unlike traditional banks, credit unions are not-for-profit entities, meaning any surplus earnings are returned to members in the form of lower fees, better interest rates, and improved services. Membership is usually based on a common bond, such as employment or community affiliation.
What are the impact of the role players in public financial management?
The role of players in public financial management to provide a sound financial management. They are expected to pull together and work as a team for the common good of the organization in question.
What is the classification of business organization according to ownership?
Sole/ Single Proprietorship- form of organization wherein there is only in a business. - oldest form of business organization.Partnership- a business owned and operated by 2 or more persons who bind themselves to contribute money, property or industry to a common fund with the intention of dividing the profits among themselves.Corporation-the most common form of business organization, and one which is chartered by a state and given many legal rights as an entity separate from its owners. This form of business is characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern.Cooperative is a business organization owned and operated by a group of individuals for their mutual benefit.[1] Cooperatives are defined by the International Co-operative Alliance's Statement on the Co-operative Identity as autonomous associations of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through jointly-owned and democratically-controlled enterprises.
Why is communication considered to be the life of an organization?
Communication is considered the life of an organization because it connects all parts of the business, ensuring smooth operations and collaboration. Here’s why communication is so essential: Facilitates Coordination & Efficiency – Employees, teams, and departments need clear communication to work together effectively and achieve organizational goals. Enhances Decision-Making – Good communication ensures that accurate and timely information is available for informed decision-making. Boosts Employee Engagement & Morale – Open communication creates a positive work culture, where employees feel valued, heard, and motivated. Prevents Confusion & Conflicts – Clear communication reduces misunderstandings, errors, and workplace conflicts, improving overall productivity. Strengthens Customer & Stakeholder Relationships – Effective external communication helps build trust with clients, partners, and investors. Supports Change & Innovation – Organizations constantly evolve, and strong communication ensures smooth transitions, whether in leadership, strategy, or technology. Without effective communication, an organization can face inefficiencies, low morale, and operational breakdowns, making it difficult to achieve success.
What is the term for an organization owned and controlled by its members who work for a common goal?
The term for an organization owned and controlled by its members working toward a common goal is a "cooperative" or "co-op." Co-ops are typically formed to meet the mutual needs of their members, whether in agriculture, retail, housing, or other sectors, and emphasize democratic decision-making and shared profits.
What is the common name for members of the organization founded by Joseph Smith?
Mormons.
What is the difference between club and trust?
A trust is a group of organizations that have joined together as the result of a legal agreement. A club is an organization that is formed because of a common interest of its members.
What are the elements of an organization?
A group of people, A common objectives, An interaction among members.
What is a cummunity in which land is held in common and where members live and work together?
commune
What isorganisational culture?
Organizational culture reflects how the members of a particular organization act or behave. This also reflects the meaning behind the common actions and behaviors within an organization.
What are the differences between informal group and informal organisation?
Difference between a group and an organization need to be sorted out first. An organization consists of two or more people expending systematic effort towards some common goals which produce goods or services. Whereas a group of people consists of two or more individuals coming together for pursuit of a common concern such as common interest or friendship. Informal organizations normally emerge within or against a formal organization and the members of the informal organization may be driven by a common goal that may compliment or work against the goals of the formal organization. An informal group is a group of people casually acquainted with each other for their own personal fulfillment because they have some common characteristics and concerns (interests/hobbies/friendship). The members of the 'grapevine' often found within a formal organization can also be called an informal group. Whilst it is easy to differentiate between a formal group and a formal organization, the differences between informal group and informal organization tend to be blurred.
How is organization is formed?
A popular organization is formed by bringing people with common interests together. The interests need to be something that affects most of the people in the area and this will cause the organization to have many followers.
Which methodology views an organization as a group of interrelated part working together for a common purpose?
systems approach
What is a political party called?
An organization of people which seeks to achieve goals common to its members through the acquisition and exercise of political power.
Meaning and types of conference?
Conference refers to a large gathering of members of one or several organization for discussion on matters in which they have a common interest.
What do European union and the world trade organization have in common?
the both are big bodies, many members, follows rules of law and democracy
