Weaver Street Market Co-operative

Weaver Street Market (WSM) opened in Carrboro in June, 1988, thanks largely to the support of the community.

Start-up was funded by a loan from the Self-Help Ventures Fund, by a Community Development Block Grant from the Town of Carrboro, and individual community supporters. Such innovative financing was motivated by the prospect of developing a truly community-owned business.

That prospect came true, as the store opened to immediate success and quickly achieved a presence that has transcended simply selling quality products. From its congenial environs and good food, to hosting and cosponsoring events and donating thousands of dollars each year to local schools and charities, Weaver Street Market reflects the community in everything it does.

Weaver Street Market is governed by a seven-member Board of Directors, four of whom are directly elected by the two owner classes, workers and consumers (2 positions each). Two positions are appointed by the board itself to fill the need for particular skills or knowledge. The General Manager holds the seventh position.

The Board is directly accountable to the consumer and worker owners for the activities and accomplishments of the store. Specifically, it is responsible for:

  • Interacting with the owners – to understand their values and vision for the store.
  • Developing, monitoring, and revising a body of policies that guide the store to achieving outcomes that are consistent with the owner’s values and vision.
  • Ensuring, through consistent monitoring mechanisms, that management achieves the goals set by the board and that the board operates according to its established processes.

The Board fulfills its responsibilities through a system of governance called Policy Governance, as developed by John Carver. Read more about Policy Governance here.

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Published in: on January 15, 2008 at 9:20 pm  Leave a Comment  

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