1. Reasons of success of John Lewis Partnership(JLP)
We discovered that John Lewis Partnership owns the biggest department store chain in England. With $13.7 billion in 2011 revenues and 81 thousand employees, it would rank in the Fortune 200. With revenues (reference 撩s) up about 7.4 percent annually over the past years. It succeeds while providing fair compensation and giving employees control over the business.
Why? Although the JLP is regarded as a kind of Employee ownership business, the JLP has better management structure when comparing to others, such as The Partnership Council (count so). it's members are elected by the owners, it has the power to fire the Chairman if he fails to fulfill his responsibilities. On the other hand, another Employee ownership based company, Hawaii, an electronic and networking devices manufacturer, although it is owned by several managers, the highest right power is on the chairman's hand.
Waitrose is one of the UK’s leading food retailers and forms part of the John Lewis Partnership, which has a unique system of employee co-ownership. All 69 thousand employees, roughly (屈fuly ) 40 thousand of them at Waitrose, have a say in how the business is run and a share in its profits(paul futs).
Unlike other major supermarkets, Waitrose isn't owned by shareholders and the City. Instead, as part of the John Lewis Partnership, it's owned by everyone who works for the Partnership. And every year they share the profits that would normally go to shareholders. As you would expect this produces an extraordinary (ex多敦WAY) high level of commitment amongst those who work in their stores.
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