What is Cooperative?


‘Cooperative’ refers to a kind of business structure in which two or more parties work together to reach a common goal. There are various kinds of cooperatives found in the market like housing cooperatives, consumer cooperatives, etc.


However, when it comes to the corporate world, worker cooperatives are the most common form of ‘cooperative’ that one needs to understand. The term worker cooperatives refer to a group of companies run by the workers themselves instead of the traditional hierarchy of managers.


Worker cooperatives came into existence during the industrial revolution as a way to fight against the capitalists. However, once adequate norms came into place, worker cooperatives lowered in popularity comparatively.

More HR Terms

Medical Leave of Absence

A medical leave of absence is also known as the sick leave. It refers to the period when employees get immediate permission of taking leave

Due Diligence

What is Due Diligence?   ‘Due Diligence’ refers to the fact that humans actively avoid danger by taking precautionary steps. Concerning HR and business, it

Host-country Nationals (HCNs)

What is Host-country Nationals (HCNs)?    ‘Host-country Nationals’ are those employees who are citizens of the country where the company’s branch is located, which is

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