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WorksheetsU1 - The Bus Environ- Ownership 4
Total questions: 14
Worksheet time: 20mins
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
Not-for-Profit enterprises can be in Private Sector or Public Sector. Such enterprises therefore are also called Voluntary Sector Enterprises
True
False
A charitable trust is legally considered to be a charity, that is constituted by way of a trust deed. Primarily, in the UK charitable trusts are treated very favourably for tax purposes, i.e. all assets transferred into charitable trusts are tax exempt;
These are created with a purpose of being charitable to others and benefitting the public such as by providing grants for specific objectives or goals
True
False
A CIC is a special type of limited company which exists to benefit the community rather than private shareholders.
To set up a CIC, you’ll need:
a ‘community interest statement’, explaining what your business plans to do
an ‘asset lock’- a legal promise stating that the company’s assets will only be used for its social objectives,
and setting limits to the money it can pay to shareholders
True
False
Why would some enterprise decide to be Not-for-Profit? Explain with reasons (you may use advantages/ disadvantages) and an example.
