The resilience of the cooperative model: How do cooperatives deal with the COVID‐19 crisis?. (10th March 2021)

• Record Type: Journal Article
• Authors: Billiet, Adrien; Dufays, Frédéric; Friedel, Stefanie; Staessens, Matthias
• Is Part Of: Strategic change. Volume 30:Number 2(2021)
• Page Start: 99
• Page End: 108
• Publication Date: 2021-03-10
• Subjects: embeddedness -- cooperatives -- COVID‐19 -- crisis -- resilience -- user‐centrality; Organizational change -- Periodicals; Strategic planning -- Periodicals; 658.401205
• DOI: 10.1002/jsc.2393
• Languages: English
• ISSNs: 1086-1718

Abstract

Abstract: The centrality of user‐members in cooperatives and cooperatives' embeddedness in their community and in a global network influence positively their resilience in times of crisis, as illustrated by cases of cooperatives that acted entrepreneurially during the COVID‐19 crisis. Cooperatives are hybrid organizations that maximize value, instead of profit. They are owned, governed, and controlled by their members. They are more resilient than the conventional enterprises in times of crisis, thanks to their peculiar governance characteristics that ensure member centrality. Next to member centrality, the embeddedness of cooperatives in their local environment and a global movement enhances mission centrality as well as trust and solidarity among their members, local communities, and other cooperatives.