Electric cooperative boards face a balancing act with significant and rapid change in the electric utility industry, emerging technologies, a changing membership that has more control over their own energy use, and the need to maintain reliable service and affordable electric rates. Cooperative service territory is generally viewed as static, however, opportunities abound through cooperatives collaborating in “shared services" agreements, examining the advantages and benefits of merger or consolidation, partial territorial acquisition of an IOU, or completely purchasing and absorbing a municipal electric system. This course is designed to help directors find that balance by identifying and evaluating the potential benefits of shared services, mergers, and territorial acquisitions.