Major stakeholders’ perceptions of the Maltese co-operative and their implications

Abstract

Purpose: The objectives of this study are to ascertain and assess the major stakeholders’ perceptions of the Maltese co-operative in relation to the basic principles and values, the regulatory framework, marketing and the future potential, as well as to evaluate the financial and other implications of such perceptions. Design: The objectives were attained by conducting semi-structured interviews with twenty-four co-operative stakeholders, including representatives of co-operatives, their institutions and banks, as well as CPA warrant holders and co-operative experts. Findings: The perceptions of the Maltese co-operative are somewhat negative. Firstly, Maltese co-operatives fail to adhere to selected co-operative principles and values tarnishing the movement’s imagewhile forfeiting their social dimension and valuable cooperative linkages. Secondly, the Actis seen as needingupdating, especially by introducing GAPSE. Thirdly, thelack of effective marketing campaigns is seen as resulting in a lack of knowledge of the co-operative model. Internal and external financing challenges are also considered as possibly hindering the development of the movement. Notwithstanding such negative perceptions, the importance of co-operatives in the Maltese economy is recognised as well as their potential for growth. Conclusion: This study concludes that principle and value, regulatory and marketing defaults are gnawing at the roots of the Maltese co-operative movement, hindering financing and thus jeopardising growth. The resulting stagnancy is not only making it difficult to tackle the present defaults, but possibly fuelling further defaults. Value: It is hoped that the assessment of stakeholders’ perceptions in this work is taken into account by those leading the co-operative movement in the determination of the future strategy relating to co-operative development.