IFM Essay Example | Topics and Well Written Essays - 2500 words

IFM - Essay ExampleBesides the contributions by the members, the cooperative enjoys the loan facilities that are extended to the cooperative unlike the eccentric with other cooperative societies. Through the lack of ranks within the management positions or the general employees positions, the members enjoy an equated level of salaries despite their experience as surface as despite their period of stay within the cooperative society. The cooperative society still has relatively low level of functionings because it has been in operation for relatively little period after its re-establishment in the last ten years. Based on the reason that the cooperative lacks a strong-defined structure of administration, solely members comprehensively are wholly liable for the consequences of decisions make. Moreover, the lack of this well-defined structure of management has often placed the business at a risk because the decisions made lack the professional approval because members lack manageme nt skills and professional expertise. However, the modern day cooperative operations would suffer severe losses in the force of operating without well laid out structures as Fortune Inc does. Business operations at any level necessitates clearly laid down structures and pecking order in operations for the ease of its operations. The cooperative needs to establish a central management team who would be responsible in decision qualification while at the same time taking the responsibilities in consequences resultant from the decision made (Background paper on cooperatives, n. d., p. 1-3 Co-operative in the 21st Century, 2001, p. 6-7). The size of the cooperative, which has an employee buns of twenty-five people, is relatively small compared to other large organizations. However, decision-making processes would be very tedious and time consuming while incorporating the decisions of all the employees, hence the need for a clearly established framework of organizational management. T he organization incorporates employees from the age of twenties to the mid-fifties and as such has a well-distributed working age. Beside, members are paid on an equal basis through which all employees earn an equal salary besides contributing equal amounts to the cooperative. However, the structure of operation that lacks to define responsibilities as well as the structures of authorities is undesirable due to the reason that the organization would lack command in operations. Moreover, the organization would fail to confer responsibility to any somebody in the event of liability to be suffered and as such, the people would fail to take responsibility in decision-making or regarding acting on behalf of the organization. Among other objectives to be pursued by the cooperative would be to establish legal documents and register the cooperative as a distinct entity with the registrar of cooperatives. Besides registration, other key documents defining the employees and the shareholders are necessary. Besides the responsibility outline, there is the need to have the cooperative establish a management team who would serve as the raft bearers to the team and therefore champion the