U1 - The Bus Environ- Ownership 4

A cooperative business, also known as a co-op, is a type of organization that is both owned and controlled by its members, who also happen to use the services and products of the cooperative.

• True

• False

Choose the right answer (s) from the list. The members to cooperatives can be

• employees

• customers

• local residents

• suppliers

• government

Cooperative is not-for-profit enterprise, which is run to fulfil a certain purpose and gets subscription from its members

• True

• False

John Lewis Partnership is an employee cooperative, therefore its employees owns John Lewis stores and Waitrose supermarkets.

• True

• False

In a cooperative, if there is any after tax profit leftover after it has been re-invested in the business, the members may get a dividend.

• True

• False

The John Lewis Partnership is one of the UK's top ten retail businesses with 27 John Lewis department stores and 174 Waitrose supermarkets. It is also the country's largest employee co-operative, with over 64,000 employees. The Partnership aims to ensure that everyone who works for it enjoys the experience of ownership, by sharing in the profits, by having access to information and by sharing in decision making.

Write 3 advantages and 3 disadvantages of Co-operative structure of John Lewis Co-op and advise whether it should become a "plc"?

Public sector organizations are owned and run, either fully or partly by the government. These are called ....................in the UK

• Public Limited Companies

• Public Corporations

Public sector enterprises have the following features. Choose the right answer(s) from the list below:

• Usually provide a service to the community

• primarily funded by tax payer

• can be funded by the fees charged

• can be a government department

• can be regulator to monitor and oversee private businesses in that sector or industry

What do BBC and CIvil Aviation Authority have in common? Both are

• Cooperatives

• Public Limited Companies

• Public Corporations

NHS, Cancer Research UK and British Heart Foundation are examples of .......................... enterprises

• Private Sector

• Public Sector

• For Profit

• Not-for-Profit