Thesis presented in partial fulfilment of the requirements for the degree of Master of Science in Agriculture (Agricultural Economics) at Stellenbosch University / Thesis (MScAgric (Agricultural Economics))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: The main objective of the research is to understand the concept of cooperative conversions and compare the performance of converted cooperatives to those that never converted using financial accounting analysis and organisational dynamism. Even though the differences were relatively small, companies had the strongest relative financial performance than cooperatives. Companies had the strongest performances in asset and revenue growth. Average revenue growth for companies from 2004 to 2007 was 29% as compared to 15% by cooperatives and asset growth was 25% for companies compared to 12.5% by cooperatives. Results further indicate that for the past two years, cooperatives seem to be reporting decreasing performance in most of the financial ratios analysed. Thus, based on results from the financial analysis, operating as a company or converting from a cooperative to a company could result in slight increases in financial performance. Rapid change presents various challenges and opportunities for businesses in today‘s dynamic environment. As a result, business dynamism is becoming an increasingly important aspect and factor in determining success. Based on a dynamism score card, the study shows that companies are by far much more dynamic than cooperatives, with a score of 83.75 compared to 62.33 out of 100 respectively. However, cooperatives compare relatively well to companies in as far as organisational strategy, management, organisational structure and culture. Their limitations come from their property rights framework which is by far less dynamic than that of companies owing to the limitations and constraints of the Cooperatives Act (Act 14 of 2005). The main shortcomings of cooperative property rights were that of not allowing external investors into the cooperative and the one member one vote principle for primary cooperatives or the 15% cap for secondary cooperatives. / AFRIKAANSE OPSOMMING: Die vernaamste doelwit van hierdie navorsing was om die konsep van koöperatiewe omsettings te verstaan en die prestasie van omsette koöperasies te vergelyk met dié wat nog nooit deur middel van finansiële rekeningkundige analise en organisatoriese dinamisme omgesit is nie. Hoewel die verskille relatief klein was, het maatskappye die sterkste relatiewe finansiële prestasie gehad in vergelyking met koöperasies. Maatskappye het ook die sterkste prestasie in bate- en inkomstegroei getoon. Gemiddelde inkomstegroei vir maatskappye vanaf 2004 tot 2007 was 29%, in vergelyking met 15% vir koöperasies, terwyl bategroei vir maatskappye 25% was in vergelyking met 12.5% vir koöperasies. Die resultate toon verder dat koöperasies oor die afgelope twee jaar verminderde prestasie blyk te rapporteer in die meerderheid van die finansiële verhoudings wat geanaliseer is. Dus, op grond van die resultate van die finansiële analise, sal funksionering as ‘n maatskappy of omsetting van ‘n koöperasie na ‘n maatskappy kan lei tot ‘n effense verhoging in finansiële prestasie. Snelle verandering bied verskeie uitdagings en geleenthede vir maatskappye in die huidige dinamiese omgewing. Gevolglik is sakedinamisme besig om ‘n toenemend belangrike aspek en faktor in die bepaling van sukses te word. Op die basis van ‘n dinamisme-telkaart het hierdie studie getoon dat maatskappye baie meer dinamies is as koöperasies, met ‗n telling van 83.75 in vergelyking met 62.33 uit 100 onderskeidelik. Koöperasies vergelyk egter relatief goed met maatskappye in soverre dit organisatoriese strategie, bestuur, organisatoriese struktuur en kultuur behels. Hulle beperkings kom van hulle eiendomsregraamwerk, wat baie minder dinamies is as dié van maatskappye op grond van die beperkings van die Wet op Koöperasies (Wet 14 van 2005). Die vernaamste tekorte van koöperatiewe eiendomsregte is dat hulle nie eksterne beleggers in die koöperasie toelaat nie en die beginsel van een lid, een stem vir primêre koöperasies of die 15% perk op sekondêre koöperasies.