Explain what is the difference between "co-operation" and "co-ordination". What is more important for effective management?

Simply we can define Co-operation as the efforts for association to fulfill certain aims and Co-ordination as the involvement in the association actively and to centralized the efforts under one roof.

co-ordination is position for one persson

co- operation is process between team members   

Co-operation refers to the collective efforts of people who associate voluntarily to achieve specified objectives.

Coordination is nothing but involving. It is the integration, synchronization which includes the efforts of group members so as to provide unity of action in the pursuit of common goals in an organization.