Cooperatives as a modern form of business : how to reconcile economic efficiency and social expectations
Résumé
This paper analyses cooperatives as an efficient economic response to social expectations. Cooperatives have long been considered only from the perspective that they suffer from property rights constraints and consequently have attracted little interest. In this article, we demonstrate that cooperatives are actually a modern form of organization that is able to balance economic constraints and new societal expectations. We suggest that a renewed theoretical framework should be adopted in research on cooperatives. We further argue that member commitment remains key to overcoming recent challenges. The path to success demands that cooperatives’ principles and values be bounded by economic concerns.