In bringing their social vision to life, the Rochdale Pioneers developed specific guidelines for the operation of their co-op. Though updated and modified, the principles bear the same social vision of these co-op pioneers. This vision has been shared by thousands of cooperatives around the world which have adopted these principles as their own, and used them to help organize cooperative businesses. Cooperative enterprises, which follow cooperative principles and in the cooperative tradition, have many benefits. Members ensure that their cooperative business provides the best quality products and services at the lowest possible cost.
Cooperatives demonstrate economic democracy.
In an investor-owned corporation the people who have the most money and shares have the most control over the way the business is run. In a cooperative each member has an equal share and one vote when decisions are made. This is known as economic democracy. In acooperative, those with similar needs act together and pool their resources for mutual gain. As a democratic entity, a cooperative changes with the changing needs of its members.