Co-operative innovations

Anu Puusa and Tim Mazzarol

Chapter 21 in Elgar Encyclopedia of Innovation Management, 2025, pp 74-78 from Edward Elgar Publishing

Abstract: The co-operative movement, tracing its roots to the Rochdale Society of Equitable Pioneers in 1844, has evolved from centuries of collective efforts to address societal challenges. Unlike traditional business models, co-operatives prioritize democratic governance and member ownership, aiming to enhance both economic and social well-being. With millions of co-operatives worldwide, they operate under guiding principles set by the International Co-operative Alliance, emphasizing value creation through active member participation. Innovating through a market-responsive approach, co-operatives adapt to meet diverse member needs, spanning product, service, and organizational innovations. Despite their effectiveness, co-operatives have been largely ignored by mainstream economic theories, overlooking their significant social capital contributions and potential for stakeholder-driven capitalism. As an alternative to profit-centric models, co-operatives offer a balanced approach, blending efficient business management and profitability with social impact, meriting greater attention and research focus to unlock their full potential in addressing contemporary economic and social challenges.

Keywords: Co-operative; Dual nature; Innovation; Innovative platform; Democracy (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035306442
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