The principles are power, purpose, profit, customers, members, the community and business relationships. The main intention of the partnership is the ultimate happiness of its members. Also, power/authority in the organisation is shared among three governing arm: the Partnership Board, the Partnership Council and the Chairman (John Lewis n. d, p. 1). The group intends to make adequate profit from its trading to prolong its commercial life, fund its constant expansion and share out profits each year to its affiliates, and to permit it to embark on other activities steady with its eventual goal (John Lewis n. d, p.
1). The organisation aims to deal truthfully with its clients and safeguard their trust and loyalty through providing exceptional choice, service and value (John Lewis 2013, p. 4). The organisation intends to carry out all its dealings with courtesy and integrity and to honour thoroughly every business deal. Finally, the organisation intends to comply with the spirit and the law and to add to the happiness of the areas where it functions (John Lewis n. d, p. 1). Antecedents That Formed John Lewis Marketing Principles The story of the John Lewis Partnership shows someone that building a successful business is all about sacrifice and determination.
Lewis snubbed games and holidays and dedicated his time fully to the business, which is not a successful venture. Sacrifice and determination are just some of the few traits that were present in the forming of John Lewis marketing principles. Originality was another key trait. In 1864, Lewis turned down Robinson’s proposal of a partnership and bought his own premises on Oxford Street (north side), one areas of the site at the moment used by the department store that bears his name.
There he vended woollen and silk cloth in addition to haberdashery. His retailing principle was to purchase high quality goods and sell them at a fair “mark up”. Even though, he carried a broad range of goods, Lewis never bothered much concerning displaying them and he also never advertised them (Dacko 2008, p. 56). His major skills were in sourcing the products he vended, and nearly all mornings, he would take a trip to the Capital, escorted by a man pushing a hand barrow.
Lewis would later take trips to Paris, France, to purchase silks. None of the over 70,000 individuals who work at this organisation is a worker; they are all referred to as partners, who together own the business (Kennedy 2009, p. 34). They receive a profit share rooted in how much profit is made by the firm as a whole; therefore, they feel, in fact, concerned and incentivised.
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