A Critical Revisit to the Principles of Cooperatives: A Case Study of Multipurpose Cooperatives in Sri Lanka

The cooperative movement, a business initiative in its own right, operates the market according to unique set of principles that promote user ownership, control and benefit. However, despite value system emphasizes social wellbeing, image it has developed minds customers over time is apparently trouble, due backlash from neoliberal economy promotes consumerism. Against this backdrop, current research paper focuses on understanding nexus connections cooperatives have given rise creating practices membership, using theory as framework. Neoliberalism political critically analyzed relation dominant practices, while shedding light pressures those brought bear survival cotemporary economic landscape Sri Lanka. Based case study method, two multipurpose societies Lanka were studied by analyzing data gathered them thematically through cross analysis. It was found three main components are essential creation practice, namely, materials, meanings competencies, most powerful component cooperatives. Thus, can be concluded not prevented competing effectively Lankan retail market, but their implementation under conditions