Research Reports
The Operational Situation and Implications of the Board of Directors of US Agricultural Cooperatives
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AuthorPark, Joonki
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Publication Date2009.10.01
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Original
The purpose of this study was to explain the differences between the management of agricultural cooperatives and that of general enterprises and to examine the core of the governance structure of the cooperatives - that is, the responsibility and role of the board of directors of agricultural cooperatives.
The domestic market has opened to foreign agricultural products and the percentage of aged workers in rural areas is increasing. What all this means is that the conditions of farming and rural society are getting worse. In this situation, the role of agricultural cooperative is becoming more important in rural areas.
Agricultural cooperatives have a special character; that is, the members of agricultural cooperatives are their patrons and owners as well. Because of that character, the governance structure of agricultural cooperatives needs to be developed to properly represent the needs of members. The board of directors is elected by the members of the cooperative. So, the board of directors is the representative organization expressing and representing the needs of members.
This study clearly explained the role and function of the board of directors of agricultural cooperatives. Focusing on the case of agricultural cooperatives in the U.S., the study examined their operational situation and responsibilities and duties, as well as pending problems and major managerial issues of the board of directors.
It is the right time to emphasize the role of agricultural cooperatives, especially the role of the board of directors in Korea. The board of directors must represent and coordinate the opinions and needs of their members well. The implications of this study are expected to be helpful for building a more sound governance structure of our agricultural cooperatives and for making the board of directors represent the needs of members well.
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