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Unit 1 Pass 1 & 2 theory
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Essay of 1 pages for the course B-tec at RIJ
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Worker co-operativesA worker co-operative is a body that is owned by the people who work for it. A
worker co-operative has limited liability. To become a member of a worker co-
operative, an employee would have to buy a share in the organization. Each
member has one vote in making decisions. This is a democratic and prevents one
individual or a few individuals gaining control. Members receive a share of the
profit of the business in the form of a dividend. When they leave the co-
operative, they can take their funds back. The basic principle behind a worker co-
operative is that those who do the work should get the rewards. They tend to be
small-scale, local enterprises.
Charitable trusts
A charity is an orginazation that is set up to raise funds and support other people
or a good cause. The business objective of charities is to create a surplus to use
for helping others. A surplus occurs when the money coming into the charity is
greater than the costs of running the charity. The management of charity work is
overseen by a group of trustees, who are volunteers with reputations as
responsible citizens. Many will have a range of experians in both charity and
business activities. Charities have to register as such and must produce annual
accounts that are available to be viewed. Charities employ paid managers and
worker.
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