Is There a Need for a Cooperative Business Model Canvas?

As of June 2019, there are 14,094 cooperatives that are registered under the Malaysian Cooperative Commission with a total membership of 6,068,570. The contribution of the cooperative towards the community development is significant especially in the socio-economic impact. The cooperatives are operated based on the values and principles that revolve around the economic well-being of the society. A high percentage of businesses has failed during their startup period but this phenomenon can be reduced to a minimum if the can understand their business model. In Malaysia, one of the most common strategic tools used to gauge the business model of a company is Business Model Canvas (BMC) by Alexander Osterwalder. Although its use is widespread among startup businesses, the concept of BMC strategic tools in the context of cooperative business in Malaysia has not been thoroughly evaluated especially when it comes to the application by the cooperatives. This paper will examine the 9 buildings block in BMC and evaluate their compatibility towards the cooperative sector in Malaysia. The author will give suggestions on improving the current BMC to best suit the cooperative sector