• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

A Brief History of John Lewis.

Extracts from this document...

Introduction

A Brief History of John Lewis Spedan Lewis who was the son of the founder John Lewis believed quite simply that it was unfair for either the private owners of a business, or shareholders who invested money in it, to have a greater claim on its prosperity than those who invested their time and labour. The democratic nature and profit sharing basis of the business were continually strengthened and were ultimately secured by two Settlements in trust in 1929 and 1950. These provided for distribution of profits among Partners, established a written constitution for the business and transferred all Spedan Lewis's rights of ownership to trustees. It is this that has made the John Lewis partnership what it is today. John Lewis is the biggest partnership in the whole of the Untied Kingdom In 1864 John Lewis started the partnership when he set up a drapers shop in oxford street, London, which developed into a full-scale department store. In 1905 he acquired the Peter Jones department store in Chelsea, where his son, Spedan Lewis, began an experiment in sharing power with his staff. He set up a staff council, a 'Committee for Communication' (in which non-management staff could raise day-to-day issues) and a house journal; and in 1920 he started sharing the profits the business made among the employees. ...read more.

Middle

It then means that companies will not be able to afford new staff, which then means there will be a high unemployment in the country. A partnership means more than one person owns the business and the owners have unlimited liability. A partnership requires a deed of partnership, which detail, who is part of the partnership, how members can join and leave the partnership, the duties of each partner and how the profits will be shared. The advantages of an partnership is that it is easy to set up, not a lot of capital is needed at the beginning, all the profit can be kept and shared around the partners and all the partners could bring a range of abilities. Partnerships are usually small business. This is what makes John Lewis unique, as they are a large firm that has branches all around the UK. But for them to claim that they are a partnership they have to follow certain rules that all partnership has to follow such as the deed of partnership. Which they do very successfully. Types of business ownership The sole trader A business is called a sole trader when: * There is only one owner * The owner has to make all the decisions * The owner has unlimited liability Advantages * Easy to set up ...read more.

Conclusion

A franchise needs: * A well known brand * A one off fee paid by franchisee to franchisor * Royalties paid to franchisor Advantages * Safer way of starting a business * Franchisor must provide training, to help with management and materials Disadvantages * Franchisee must follow rules set by franchisor * Franchisee cannot sell business without permission * Franchisee had to pay percentage of profit to franchisor * Franchisee will never own their business Cooperative A business is a cooperative when: * It is owned by the workers * The workers own the shares * Decisions are made by workers voting * All the workers are responsible for the business * All the workers are paid the same and receive the same share of profits Advantages * Less disagreement as workers are owners * Workers receive profits and so have more incentive Disadvantages * New workers need capital to invest in the business before they can begin work * Often pressure to sell successful cooperatives * Expansion needs new workers who can invest in the business * Difficult to get good managers if all workers are paid the same Business at Work E1 - 4 - October 02 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Business, Companies and Organisation, Activity essays

  1. Human Resources Management

    The most important part is the Labour turnover, this is used as an important measure while considering Human Resources Planning, the business will need to identify groups that are likely to leave and be ready to fill vacancies that occur.

  2. Business Studies

    on a particular dispute International costs: > Damages of the reputation/image of the business involved > May cause the loss of foreign exportation - loss of revenue damages the business Benefits of industrial disputes - Increases awareness of those managerial choices that are unlawful and considered unethical - Resolving disputes

  1. Business Plan. After putting a lot of thought into what kind of business we ...

    When you have information about a particular market segment, geographic area or a customer preference you will be better prepared to make decisions to help your business. Primary and secondary market research can provide a valuable insight to help you shape your business which can also help you to expand it to make it more popular.

  2. English for business

    Report Meeting held on 15 October 2000. Location: Danavian Insurance Company, Stockholm Present: Ulf Edberg (Treasurer, Denavian) self Agenda: Letter of Credit Facility. Client is not yet sure about company requirements for 2000. Expressed worry, however, over the increase in our commissions and estimates that this will cost Denavian three times as much as before.

  1. Importance of Human Resources Management

    wage increase, it is likely that many more women than men would miss out on the increase. Many women interrupt their working lives to have children and would not have worked continuously in one company for 20 years. This kind of unfair treatment is called indirect sex discrimination.

  2. Business Process Management

    Without the support of the adviser, the process of opening the account might have been more difficult and time consuming. The customer is also advised on the time duration it might take in the process of opening the account. The customer then has to fill in an application form which enables the process to move to the next stage.

  1. What do recent attempts to adopt 'partnership' approaches and practices suggest about the changing ...

    One of the main reasons is the support that it has received from the Labour government who through its Employment Relations Act (1999), its white paper Fairness at Work (1998) and its Partnership Fund has shown its concrete support for partnership at work.

  2. The Effects of Non-monetary Incentives on Employees

    (R?dh?kri?hn?n & R?n?n 1999). In ?dditi?n t? w?rk ?n ?xtrin?ic inc?ntiv?? ?nd p?rf?rm?nc?, ? l?rg? b?dy ?f r????rch ?xi?t? ?n p?ych?l?gic?l int?rv?nti?n? ?nd th?ir imp?ct ?n p?rf?rm?nc? (??? Guzz?, 1985 f?r ? r?vi?w). R?th?r th?n ?xt?nd th? lit?r?tur? ?n th?

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work