What an interesting question!

If I understand you correctly, you are asking what is the difference between a structure where, for example, you have a supervisor managing a group of operators in a factory setting, compared to a structure where you have teams that are possibly self managed?

Here are my views on the challenges and benefits of self managed teams compared to the traditional structure.

Challenges

Self managed teams cannot be formed overnight. Team members have to be made aware of the increased responsibility they will be given and the parameters of how far they can go in making decisions. They have to be willing to work together to find solutions to problems and put team needs above personal needs. The team leader role is typically rotated amongst members. This may not suit some individuals who prefer others to lead them.

Benefits

Good teamwork involves recognizing the strengths of individuals when work is being shared out. This builds personal confidence. When team members are given greater responsibility, they typically rise to the challenge and enjoy the opportunity to develop their skills.

By empowering employees in this way, productivity typically increases which shows on the bottom line.

Self managed teams need an investment of time and resources to get them working properly. With proper planning and a supportive business culture, they can yield great benefits.

Your question also mentioned joint ownership: this can be a minefield, as owners can have different aspirations and goals, which are hard to manage on an equal footing. You would need a strong positive relationship between both parties and a clear, detailed contract for it to be successful.

I hope this helps!