Co-Operatives in the Fourth Sector The Role of Member-Owned Businesses in the Global Economy

Co-operative and mutual businesses are amongst the oldest and most enduring in the world. They comprise some of the largest business enterprises, take a wide variety of forms, and operate within many different industries. And yet, co-operatives have a lot in common - including a democratic model of governance and their member-owned structure.'Co-operatives in the Fourth Sector: The Role of Member-Owned Businesses in the Global Economy' contributes to the development of a better understanding of co-operative and mutual business, and how the member-focused nature of co-operatives is the fundamental driver of their success. 2012 was the United Nations International Year of Co-operatives (IYC). Co-operatives are a reminder to the international community that it is possible to pursue both economic viability and social responsibility. United Nations Secretary-General Ban Ki-moonThis dual role of the co-operative is part of what makes these enterprises unique. Co-operative and mutual businesses are part of 'fourth sector', separate from the investor-owned firms that comprise the first sector, or the government and not-for-profit organisations that make up the second and third sectors.Following the global financial crisis (GFC), co-operatives and mutual businesses have attracted renewed interest. The GFC shook the foundations of many economies, and raised questions about the sustainability of many mainstream investor-owned firms. However, in most cases co-operative and mutual businesses emerged from the GFC in good shape due to their focus on serving the interests of their members.Part I of this book contains four chapters that deal with the governance and financing of co-operatives. Part II includes two international cases that explore the significance of delivering member value to ensure co-operative sustainability. Part III, then, contains three chapters that examine the potential contribution of co-operatives in developing economies.Drawn from the research of a cross-section of international scholars, this work was a collaborative project between The University of Western Australia and Co-operatives WA.