Definition

1. Noun:
   • A commercial enterprise owned by the people who work for it: An "employee-owned enterprise" is a type of business where the employees collectively own a significant portion or all of the company's shares. This ownership structure gives workers a direct stake in the company's success and often a say in its governance.

Usage Examples

• Noun:
  • The factory transitioned to an employee-owned enterprise, giving every worker a share in the profits.
  • Many studies suggest that employee-owned enterprises can have higher productivity and job satisfaction.

Advanced Usage

• "to convert to an employee-owned enterprise": to change a company's ownership structure so that the employees become the owners.
  • The founders decided to convert the successful firm to an employee-owned enterprise to ensure its legacy.

Variants and Related Words

• Employee-owned business (n): A synonym for "employee-owned enterprise," referring to the same ownership model.

  • She prefers to buy her coffee from a local employee-owned business.

• Employee ownership (n): The general concept or state of employees owning a company.

  • The new policy aims to promote employee ownership across the industry.

• Worker cooperative (n): A specific, democratic form of an employee-owned enterprise where each worker has one vote.

  • The bakery operates as a worker cooperative, a type of employee-owned enterprise.

Synonyms

• Worker-owned company: A commercial firm owned by its employees.
• Employee-owned company: A direct synonym for an employee-owned enterprise.

Related Phrases

• Employee stock ownership plan (ESOP): A common mechanism in some countries for establishing an employee-owned enterprise, where employees acquire stock over time.
  • The corporation established an ESOP, moving toward becoming an employee-owned enterprise.

Noun

1. a commercial enterprise owned by the people who work for it