Published22nd October 2020
Last updated5th November 2020
The governance wheel depicts the key areas of governance that should be in place within a thriving co-operative business.
The key elements of governance are:
- An effective board
- Operations and processes
- Performance and roles
- Members and participation
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A board with the appropriate balance of skills, experience, independence and knowledge is key to the success of a co-operative.
Good governance is crucial to the effective operation of co-operatives – particularly those looking to grow – regardless of size, legal form or business sector.