Good governance is crucial to the effective operation of co-operatives – particularly those looking to grow – regardless of size, legal form or business sector.
The key to a successful co-op
Governance is, to put it simply, all about how running a business. And good governance is about running a successful business. It's about people and performance; policies and processes; rules and regulations... and lots more.
It's the same for co-operatives, but with a good twist. Co-ops exist to serve the needs of their members. And they're founded on a set of values and principles which set the agenda for a different, fairer and better way of doing business. So good governance has to encapsulate those fundamental elements as well.
The wheel of good governance
To help with your governance, our Co-operative Governance Expert Reference Panel has created a great resource. It depicts the key areas of governance that should be in place within a thriving co-operative businesses. They are: