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Worker-owned Cooperatives: Overview.

Good morning.do you have any data on worker owned cooperatives and how they function.

Good morning! Yes, I can provide some information on worker-owned cooperatives and how they function.

A worker-owned cooperative is a business model in which the workers own and control the business collectively, sharing in the decision-making process and the profits. In this model, the workers are both the owners and the employees of the business.

Here are some key characteristics of worker-owned cooperatives:

1. Democratic Decision-making: Workers in a cooperative have an equal say in decision-making, regardless of their position or tenure.

2. Collective Ownership: The business is owned and controlled by the workers as a group, rather than by individual shareholders or a board of directors.

3. Shared Profits: Profits are distributed among the workers, typically based on the amount of work each member contributes.

4. Social Responsibility: Cooperatives often prioritize the well-being of their members and the community, rather than simply maximizing profits.

5. Limited Returns: Cooperatives generally limit the amount of return on investment that outside investors can receive, in order to prioritize the interests of the worker-owners.

Worker-owned cooperatives operate in a variety of industries, from manufacturing to retail to agriculture. They can be small, locally-focused businesses or larger enterprises with a global reach. Some well-known examples of worker-owned cooperatives include the Mondragon Corporation in Spain, the Evergreen Cooperatives in Cleveland, Ohio, and the Cooperative Home Care Associates in New York City.

In terms of their functioning, worker-owned cooperatives generally operate in the same way as any other business, with the added element of collective decision-making and shared ownership. Members typically elect a board of directors or governing council to oversee the day-to-day operations of the business, and all major decisions are made through a democratic process in which each member has an equal vote.

I hope this information helps! Let me know if you have any other questions.

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