MODULE 3a

This is a sample text. You can click on it to edit it inline or open the element options to access additional options for this element.

5. Guidelines for Success

  • Keep members informed and involved - When members are involved and informed about the co-operative/partnership, they are more willing to patronize and invest in the co-operative/partnership. Ongoing communication and education programmes are an integral part of the success of a co-operative/partnership business.
  • Use advisors and committees effectively - Effectively organizing human resources and using the expertise of advisors is central to the success of any business. Maximum participation by potential members is crucial to the success of a co-operative/partnership. Committees provide members with the opportunity to develop skills and to participate in the affairs.
  • Maintain good board-manager relations - The differing responsibilities of the board of directors and the manager must be clearly understood and carried out.
  • Conduct effective meetings – A co-operation/partnership is a business and its meetings should be conducted in a businesslike manner. An effective meeting is the result of carrying out several successive steps: preparation, good facilitation, member participation, following an agenda, and following through on meeting actions.
  • Follow sound business practices – The major challenge to co-operative/partnership members, the board of directors, and operating management occurs after business operations begin. Operating on a sound business basis includes the implementation of an accurate accounting system, regular preparation of financial statements, reporting to the membership in a clear and timely manner and keeping exact member records. It also involves a continual evaluation of costs and the productivity of labor, facilities, equipment and technology employed by the co-operation/partnership.
  • Forge links with other co-operatives/partnerships and organizations - The search for beneficial links with other co-operatives/partnership, businesses and associations should continue on an ongoing basis. Alliances with other businesses can be valuable sources for supplies, marketing outlets and related services. Membership in provincial and national associations can keep the new co-operative/partnership abreast of what others around the country are doing. These associations can be sources of education and training programs.

Resources

 

Before you start setting up a co-operation/partnership firstly you should decide if you need a partner at all.
If so it is important not to rush when you are searching for a partner(s). This process is crucial and very significantly influence your future.

When you are satisfied with your choice of partner(s) you should together prepare everything for starting a
co-operation/partnership. The basic steps are:

  • Identify a Common Economic Goal
  • Determine Business Feasibility
  • Develop a Business Plan
  • Draft Legal Papers and Incorporate the Co-operative/Partnership
  • Implement the Business Plan and Begin Operations

"Alone we can do so little; together we can do so much." – Helen Keller

"Find a group of people who challenge and inspire you, spend a lot of time with them, and it will change your life." – Amy Poehler

Back

Next

SELF-ASSESMENT

This questionnaire will allow you to evaluate the competences acquired by studying the module.

TOP