These companies with no CEO are thriving

1. What makes the Park Slope Food Co-op special?

• A. It’s the largest grocery store in New York

• B. It only sells organic food

• C. It has no CEO and is run by members

• D. It’s owned by a large company

Answer explanation

Key: C
Transcript: “10,000 people work there, and it doesn’t have a CEO.” [0:15]
Explanation: Unlike typical companies, Park Slope is run without a CEO, and its members are involved in managing the store.

2. What is a “co-op” short for?

• A. Company Opportunity Plan

• B. Cooperative

• C. Co-owner Program

• D. Community Operation

Answer explanation

Key: B
Transcript:
“...cooperatives, or co-ops for short, around the world.” [0:21]
Explanation: “Co-op” is an abbreviation for “cooperative,” which is a business owned and run by its members.

3. According to the speaker, how important are co-ops globally?

• A. They are not very common today

• B. They are used only in small towns

• C. They employ millions and handle trillions in value

• D. They work mainly in agriculture

Answer explanation

Key: C
Transcript: “they employ 280 million people… over $2 trillion flow through their doors every year.” [0:30–0:34]
Explanation: Co-ops have a large impact globally, both in employment and economic value.

4. Why did the Rochdale weavers start a co-op in 1844?

• A. To start a school

• B. To help suppliers sell faster

• C. To sell clothes from their factory

• D. To afford daily goods by buying in bulk

Answer explanation

Key: D
Transcript: “By buying in bulk directly from suppliers… all of them to buy stuff they couldn't otherwise afford.” [0:58–1:02]
Explanation: Their goal was to purchase affordable goods by working together.

5. Which of the following is NOT a type of co-op mentioned?

• A. Producer co-op

• B. Consumer co-op

• C. Worker co-op

• D. Hotel co-op

Answer explanation

Key: D
Transcript: “REI… are consumer co-ops… Credit unions… producer co-op… worker co-ops…” [1:20–1:36]
Explanation: Hotel co-ops are not mentioned in the transcript.

6. What benefit do Park Slope members get for working shifts?

• A. Lower grocery prices and influence over product choices

• B. Free medical care

• C. Free groceries for life

• D. More vacation days

Answer explanation

Key: A
Transcript: “members pay 15 to 50% less for groceries, and they influence what products are— or aren’t— sold there.” [1:48–1:53]
Explanation: Members receive grocery discounts and voting rights on what is sold.

7. What is one major difference between co-ops and traditional companies?

• A. Co-ops are only in rural areas

• B. Co-ops never earn profit

• C. Co-ops are owned by outside investors

• D. Co-ops are owned by members and not by shareholders

Answer explanation

Key: D
Transcript: “Unlike traditional companies… all owners of a co-op are also members.” [2:07–2:10]
Explanation: In co-ops, the owners and members are the same people, unlike traditional companies with shareholders.

8. How are co-op leaders different from CEOs in traditional companies?

• A. They are elected and can be removed by members

• B. They do not make any decisions

• C. They earn the same salary as all workers

• D. They only work part-time

Answer explanation

Key: A
Transcript: “members pay 15 to 50% less for groceries, and they influence what products are— or aren’t— sold there.” [1:48–1:53]
Explanation: Members receive grocery discounts and voting rights on what is sold.

9. In a co-op, how is voting power usually shared?

• A. Richer members get more votes

• B. One member, one vote

• C. Managers vote only

• D. Members don’t vote at all

Answer explanation

Key: B
Transcript: “every member has the right to vote, and in most co-ops, every member gets one vote.” [3:54]
Explanation: Unlike companies where shareholders get more votes, co-ops follow democratic voting.

10. What did researchers find about job satisfaction in co-ops?

• A. It is lower than in traditional companies

• B. Co-op workers are more tired

• C. Co-op workers are about 40% happier

• D. There is no difference at all

Answer explanation

Key: C
Transcript: “Co-op workers were about 40% happier with their jobs.” [5:17]
Explanation: A study showed that co-op workers had significantly higher job satisfaction.