Critically evaluate John Lewis Partniership as an example of conscious Essay - 1

Critically evaluate John Lewis Partniership as an example of conscious capitalism - Essay Example The company has a great distinction of being the high-street website in United Kingdom. The image of the company is upmarket, and it helps in appealing to both the middle and upper class shoppers. Recently, the company has broadened its marketing strategy towards all types of buyers in the market. This has been done through the introduction of the value range to the John Lewis stores and essential to Waitrose supermarkets, and ultimately the expansion of the whole business. The model upon which John Lewis Partnership has been able to develop success, provides the most valuable array of information, where people may draw as they seek to develop alternative businesses anchored to the principles of social economy. John Lewis’ legal form has been used to distinguish it from other businesses. Firstly, John Lewis partnership has a constitution guiding the operational processes. The shareholders profits do not dictate, but it based on a series of its principles. On this case, the members’ happiness is considered the supreme purposes of the partnership. Such happiness relies on the workers having a satisfying job in a successful business (Gomm 2004, p.6). John Lewis partnership employs the principles of conscious capitalism to run the organization. The employees and not an individual own the company. The paper will expound briefly on the background of John Lewis partnership and conscious capitalism. It will also evaluate both John Lewis and Conscious capitalism principles and their applicability. Finally, it will also look into how the partnership uses the principles of capitalism to run. John Lewis became a first legal entity in the year 1929 after the creation of the initial trust settlement. All of the company’s profits were available for distribution among the partners of the company, which are the employees. The founder of the John Lewis partnership, Spedan Lewis, had to sacrifice his personal ownership in order to fulfill his underlying dream