Last year the Terre Foods board developed and put into place a framework for board governance and business operations based on a policy governance model. Policy governance is a well-established model used by many organizations and co-ops across the country. In policy governance the board sets policy, not operations, and works through committees to recommend actions by the board. The board focuses on ends (outcomes for which the co-op exists) but actively monitors operations through established metrics. Successfully implementing the principles of policy governance will provide accountability and define a clear delegation of authority.
The policy document includes four sections: Ends, Executive Limitations, Board Process, and Board-Management Relationship. More details about each section of our policy will be discussed in future blogs.
The Ends section gives the long-term perspective for the co-op and reiterates the mission and vision. Our ends statement reads:
Because Terre Foods Cooperative Market exists, people in the Wabash Valley will have:
- A profitable business that is a model of sustainability
- A market for local healthy food, offering trusted products and services that meet the needs of the community and producers
- A strengthened local food system
- Increased access to education that meets the needs of owners and the greater Wabash Valley community
Owners will LOVE Terre Foods Cooperative Market for all we do!