Global trends and the opportunities and challenges they present for cooperatives and mutuals

QUEBEC CITY AND LÉVIS, Oct. 9, 2012 /CNW Telbec/ - McKinsey & Company has just released the results of its research exploring the impact of major global trends on the performance of cooperatives. McKinsey presented its findings at the 2012 International Summit of Cooperatives today.

Pierre-Ignace Bernard, Director of McKinsey & Company, said: "We have identified five major trends that are shaping the world today and have examined how these affect cooperatives. For example, the digitalizing consumer, the shifting balance of world GDP to the developing economies, the increasing demand for food and energy, and the more complex regulatory environment will continue to have a direct impact on cooperatives and pose risks but also present opportunities.

"In the research, we outline specific implications these trends hold for cooperatives. For example, coops must examine how they can maintain the strong relationships they have with their members in a world where the benefits of physical proximity are competing with the access and simplicity of digital channels. In a fast changing world, large coops will also need to become more nimble and review their decision making process. Finally, as the center of growth and economic power is gradually shifting towards emerging nations, coops will need to consider if a more active presence in those market is needed to expand their membership base or even better serve current members."

Note to editors:

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 Levis, 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

Please address media inquiries to: [email protected].