Management of an enterprise by its workforce, usually through an elected workers' council, rather than by owners or state officials. Yugoslavia made it a national system from 1950, when a Basic Law placed state-owned firms under workers' collectives.
In more detail
In Yugoslavia the 1950 Basic Law let elected councils approve plans and accounts, make enterprise rules and elect and recall management boards, while the property itself remained national. It differs from a worker cooperative, where members own the firm. Later assessments found that managers often guided decisions, and the system was strained by market, political and debt problems. Compare member-owned cooperatives such as Mondragon.