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Management — FAQ’s | ||
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Click on the sections below to learn more about the Year of Getting Management Right. Why is sound management so important? Why is sound management so important? Housing co‑ops are business enterprises, providing affordable community-minded housing for its members, but still businesses nonetheless. And we all know that businesses require good management to survive in a competitive market – today’s housing market is nothing if not competitive. So now more that ever housing co‑ops need excellent management – the right people with the right tools and training – to make certain their co‑op businesses can continue to provide quality housing for its members well into the future. What are the Core Management Standards? CHF Canada developed the Core Management Standards in 2004 and presented them to the 2004 AGM, where members adopted them as a simple set of blueprints for good co‑op management. The standards can help measure and improve the quality of management in a co‑op, no matter what kind of management you use. They are divided into five key areas:
These standards are practical and results-oriented – setting out what the outcomes are for each one, and identifying the best people, skills, and tools required to achieve the management result. The Core Management Standards shouldn’t be confused with the five Standards of 2020 Vision. But they are a key part of meeting the 2020 standard for Sound Management. If your co‑op would like to meet this standard you will have to describe how your co‑op fulfills the Core Management Standards. What about the role of committees in managing the co‑op? Have committees produced good management results for co‑ops? After 35 years of experience, CHF Canada can report that the results have been mixed at best. Some co‑ops have had good luck with committees, but many have had problems, especially in the key business areas of finance, maintenance, and keeping the co‑op full. So it really boils down to two questions:
Because if the answer to both isn’t yes 100% of the time, you might want to think carefully about how much you rely on committees to run the co‑op’s business. What is the difference between management and governance? In a well-run co‑op, the difference between the governance and management roles is clear. Management takes care of the co‑op’s day-to-day activities, and works to meet the goals set by the directors and members. A co‑op board is member-focused, and sets the direction of the co‑op with this in mind. It is results-oriented, checking in regularly to make certain that the outcomes they are looking for are being met. It also makes sure that sound management is in place without getting involved in management tasks. 2020 Vision and Management Across the country co‑ops that want to make certain that they are well run and prepared for their future are working towards becoming 2020 Co‑ops. The 2020 Vision program helps co‑ops meet high standards of operation – those that are preparing for the end of their operating agreement, as well as those that aren’t. Any co‑op that begins planning for its future and working on the standards of 2020 Vision is building a sound foundation for the future. And working to meet the Sound Management standard is a great place for any co‑op to start. To learn how your co‑op can meet the Sound Management Standard see the 2020 Vision Guide – How to Become a 2020 Housing Co‑op. |
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