QUEBEC CITY AND LÉVIS, Oct. 10, 2012 /CNW Telbec/ - McKinsey & Company has just released the results of its global research exploring the impact of decision-making processes and ownership structures on cooperatives' organizational performance. McKinsey presented its findings at the 2012 International Summit of Cooperatives today.
Eric Lamarre, Managing Partner of McKinsey & Company Canada, said: "We found that the cooperative model is particularly effective in aligning organizations and mobilizing employees by creating a strong sense of ownership and shared values. However, to meet today's and tomorrow's challenges, coops must improve their organizational agility in decision making, innovation, and attracting and developing talent."
The research report also provides case examples and specific practices certain cooperatives have found effective. "For example, they have better delineated the roles of executive officers and elected officials; leveraged online technologies to create more efficient processes for consulting with their members; and improved systems to identify and correct sources of underperformance. They have also focused on investing in developing emerging leaders within their organizations through leadership training and development programs," said Mr. Lamarre.
Note to editors:
McKinsey conducted an extensive survey of cooperatives' senior executives, leveraging its Organizational Health Index (OHI), a tool that it has used in more than 500 companies. This index measures organizational health along nine dimensions, such as leadership, capacity to innovate, and employee motivation. In addition to the survey, McKinsey interviewed 50 presidents and senior executives at the largest cooperatives in the world to identify best practices in organizational effectiveness. Our research has shown a clear empirical link between organizational effectiveness and financial performance. See McKinsey's book, Beyond Performance. Full details of the research can be found in McKinsey on Cooperatives, available at www.mckinsey.com.
About McKinsey & Company
McKinsey & Company is an international management consulting firm that helps leading corporations and organizations address their most complex and challenging management issues, from reorganizing for long-term growth to improving business performance and maximizing profitability. For more than 80 years, McKinsey's primary objective has been to serve as its clients' most trusted external advisor on critical issues. For more information about McKinsey & Company, please visit www.mckinsey.com.
About the 2012 International Summit of Cooperatives
More than 2,500 decision-makers and influential figures from the international cooperative and mutualist community will attend the 2012 International Summit of Cooperatives in Quebec City and Lévis, Canada, from October 8 to 11, 2012. Under the theme "The Amazing Power of Cooperatives," the Summit aims to offer solutions that will promote the development and performance of cooperatives and mutuals so that they are better prepared to meet the economic and financial challenges they face. Please visit: www.2012intlsummit.coop.
SOURCE: 2012 INTERNATIONAL SUMMIT OF COOPERATIVES
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Please address media inquiries to: McKinsey_on_cooperatives@mckinsey.com.