• 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

    very specialised in their product and performing their role - Staffing > Deciding how employees will be sourced ETHOCENTRIC > Using home country managers and employees within the business overseas > Managers/employees will be relocated to the subsidiary incurring costs > Disadvantages; - Managers/employees will not know the local market/culture

  1. Importance of Human Resources Management

    These are able to set high wages rate, employing apprentices of their own by learning their trades. Slowly as the apprentices became more skilled the wages get higher. Importance Training is very important in terms of achieving company's objectives. Training and development makes the employees suitable for the environment and it motivates them towards achieving the business objectives.

  2. English for business

    If you work in a small agency, you may be expected to do everything, including account management, client liaison, concept development, creative work. In a larger one, job roles will be more structured. You will have a specific role and a greater chance of more formal career development.

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

    I have set a mission statement to explain the awareness of what my business intends to do. To give myself an idea of what a mission statement is, I researched into other company's statements to see what they had and how they use it to communicate with their customers.

  2. Is it a sound business decision to locate a Coffee Republic franchise in Finchley ...

    Examples of secondary research that has been collected are population statistics from the census, rates, and the levels of income, all of which tie in with the demography of the area. Another piece of vital secondary data can be obtained from www.upmystreet.com.

  1. The Effects of Non-monetary Incentives on Employees

    p?p?r di?cu???? w?y? in which t?ngibl? n?n-m?n?t?ry inc?ntiv?? might ?cc?mpli?h firm ?bj?ctiv?? b?tt?r th?n ? c??h ?w?rd ?f ?qu?l m?n?t?ry v?lu?. ?im? ?nd ?bj?ctiv?? ?im ?f thi? r????rch p?p?r i? t? di?cu?? th? w?y? in which t?ngibl? n?n-m?n?t?ry inc?ntiv?? might ?cc?mpli?h firm ?bj?ctiv?? b?tt?r th?n ?

  2. Business Process Management

    Also, stock taking using both a hand held computerised system and sales reports does not factor in theft from the shop. If people are stealing and getting away with it, then the company will not know unless an actual count of stock has been done.

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