Elena Mamouni Limnios

A Conceptual Framework for Research into Co-Operative Enterprise

This paper outlines a conceptual framework for approaching research into the co-operative enterprise business model and its sustainability. The model examines the co-op from three perspectives, that of the member, that of the co-op as a business entity, and the wider systems level. Key units of analysis for each level are outlined. Also considered within the model are three primary objectives for the co-op: the need to build identity; the need to build social capital and the need to build sustainability. The application of resilience architecture to help understand the dynamic behavior of the co-operative enterprise over time is also discussed.

Financial instruments and equity structures for raising capital in co-operatives

Purpose – A key issue faced by co-operative enterprises is how to raise external equity capital without compromising member control. The purpose of this study is to examine the potential of a special type of financial instrument called a Cooperative Capital Unit (CCU) introduced into the Australian legislation to facilitate external investment while maintaining member control. Design/methodology/approach – A Delphi panel and six focus groups were used to provide an understanding of the challenges associated with cooperative governance and financing and to aid the development of a conceptual framework for the implementation of CCUs. Findings – The findings from these Delphi panel and six focus groups were used to develop a proposed framework that the authors believe will be useful in structuring equity-like instruments depending on the purposes they might serve. In particular, the authors propose a new form of cooperative ownership and equity structure that could: better align member and investor interests; provide a mechanism to strengthen one role over the other depending on the needs of the cooperative; and provide investors with a better sense of security while retaining member control. Originality/value – To the best of the authors’ knowledge, the cooperative ownership and equity structure proposed in this study are novel and not currently found in theory or practice. The insights provided by this study should, therefore, be of interest to a wide range of stakeholders, including cooperatives; professional advisors to these businesses; government regulators; investors; and researchers.

Strategic Innovation in Small Firms: An International Analysis of Innovation and Strategic Decision Making in Small to Medium Sized Enterprises, edited by Tim Mazzarol and Sophie Reboud

Authors commonly make the claim that their book is useful to practitioners, researchers, and policymakers alike. This book certainly lives up to the claim. Providing an extensive data analysis of 567 cases of innovation commercialization practices of small to medium-sized firms the book is a must-have for the educated owner-manager of an SME that is engaged in innovation or is seeking to commercialize a new product or service. It will be a valuable resource for academic researchers and PhD students because of the breadth of conceptual frameworks and quantitative data presented. Finally, policymakers will find it invaluable as it provides both an assessment of the current state of National Innovation Systems and suggestions for the type of additional government support that is needed to improve the innovation behavior of small firms with insight from nine OECD countries (Australia, Austria, Belgium, Canada, France, Germany, Italy, New Zealand, Spain, Switzerland, and the United States). Although not “dumbed down” for the masses, marketing practitioners will comfortably follow this book with its many graphs, tables, and illustrations. The book combines the delivery of high-level educational value through a practical summary of key aspects of strategic management and the management of innovation in small firms, with the delivery of informational value through detailed analysis of country-specific and cross-country research findings. Chapters 1 and 2 provide an introduction to the process of strategic innovation in small firms and familiarize the reader with national innovation systems. Then chapter 3 provides an overview of the survey of firm managers across all countries and cases. Chapters 4 to 13 provide country or case-specific results and discussion, followed by chapter 14 that not only presents conclusions but also illustrates a model of strategic innovation management based on the outcomes of this work. Whereas most books on this subject have concentrated on the innovation of products (commonly high technology products) and service (Ács and Audretsch 1991; Van Wulfen 2011; Thomas, Miller, and Murphy 2011), this book defines and examines innovation much more broadly. The authors