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Publication date: 2 September 2016

Bernard Paranque and Hugh Willmott

From a perspective of ‘critical performativity’, John Lewis is of special interest since it is celebrated as a successful organization and heralded as an alternative to more…

Abstract

Purpose

From a perspective of ‘critical performativity’, John Lewis is of special interest since it is celebrated as a successful organization and heralded as an alternative to more typical forms of capitalist enterprise.

Methodology/approach

Our analysis uses secondary empirical material (e.g. JLP documents in the public domain, histories of John Lewis and recent empirical research). Our assumption is that engagement and interrogation of existing empirical work can be at least as illuminating and challenging as undertaking new studies. In addition to generating fresh insights, stimulating reflection and fostering debate, our analysis is intended to contribute to an appreciation of how structures of ownership and governance are significant in enabling and constraining practices of organizing and managing.

Findings

The structures of ownership and governance at John Lewis, a major UK employee-owned retailer, have been commended by those who wish to recuperate capitalism and by those who seek to transform it.

Research limitations/implications

JLP can be read as a ‘subversive intervention’ insofar as it denies absentee investors access to, and control of, its assets. Currently, however, even the critical performative potential of the Partnership model is impeded by its paternalist structures. Exclusion of Partners’ participation in the market for corporate control is reflected in, and compounded by, a weak form of ‘democratic’ governance, where managers are accountable to Partners but not controlled by them.

Practical implications

Our contention is that JLP’s ownership and governance structures offer a practical demonstration, albeit flawed, of how an alternative form of organization is sufficiently ‘efficient’ and durable to be able to ‘compete’ against joint-stock companies.

Originality/value

By examining the cooperative elements of the John Lewis structures of ownership and governance, we illuminate a number of issues faced in realizing the principles ascribed to employee-owned cooperatives – notably, with regard to ‘democratic member control’, ‘member economic participation’ and ‘autonomy and independence’.

Details

Finance Reconsidered: New Perspectives for a Responsible and Sustainable Finance
Type: Book
ISBN: 978-1-78560-980-0

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Article
Publication date: 17 February 2012

Nicholas O'Regan and Abby Ghobadian

The purpose of this paper is to demonstrate how strategy is developed and implemented in an organisation with an unusual ownership model. Partnerships are not a prevalent form of…

1791

Abstract

Purpose

The purpose of this paper is to demonstrate how strategy is developed and implemented in an organisation with an unusual ownership model. Partnerships are not a prevalent form of ownership but as this case demonstrates they can be extremely effective. Furthermore this case demonstrates how logical incrementalism can be used to implement major strategic decisions.

Design/methodology/approach

The paper draws on company documentary evidence and a semi‐structured interview with Mr Charlie Mayfield, Chairman of John Lewis Partnership. A chairman has a helicopter view of business whose perspectives are rarely captured by strategy researchers. This case study offers an insight into strategic thinking of a chairman and chief executive of a successful company.

Research limitations/implications

The case study and interview offer a unique insight into the rationale behind strategic decisions within a successful partnership that has grown organically in a highly competitive retail market without high gearing.

Originality/value

This case study sheds light on strategic moves within partnership. Furthermore, very few case studies offer insight into the thinking of a chief executive who has successfully managed a business in a turbulent environment.

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Article
Publication date: 1 April 2002

JOHN A. MAJOR

The attack of September 11, 2001, demonstrated that terrorism is capable of inflicting damage and loss of life with a severity that is many multiples of the most extreme U.S…

886

Abstract

The attack of September 11, 2001, demonstrated that terrorism is capable of inflicting damage and loss of life with a severity that is many multiples of the most extreme U.S. natural perils. This article addresses the need for a mathematical model for evaluating terrorism risk. The author compares and contrasts terrorism risk with other forms of catastrophe risk, and identifies human intelligence and intent as the distinguishing features. The author proceeds to propose that analytical techniques developed and applied within the discipline of wartime operations research (e.g., game theory, search theory), along with specialized statistical techniques, may be adopted to practically model the risk of terrorism. The article proceeds to demonstrate how even a highly simplified model can offer useful insights to the insurance industry with regard to this risk, although access to terrorism expertise is crucial.

Details

The Journal of Risk Finance, vol. 4 no. 1
Type: Research Article
ISSN: 1526-5943

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Article
Publication date: 1 February 1990

A.H. Walle

European television is on the brink of being transformed by a new breed of commercial stations which garner revenues from advertisements — not merely taxes, governmental…

171

Abstract

European television is on the brink of being transformed by a new breed of commercial stations which garner revenues from advertisements — not merely taxes, governmental subsidies, and/or legislation which requires viewers to underwrite the programmes they watch. European commercial television, now in its infancy and usually only available to those with cable TV, exhibits all the signs of being an emerging “enfant terrible”. “Annual double‐digit gains in … (TV) advertising in Europe” will continue for the next 20 years, predicts John Eger, a major international media consultant and former senior Vice President of CBS Worldwide Enterprises.

Details

International Journal of Sociology and Social Policy, vol. 10 no. 2
Type: Research Article
ISSN: 0144-333X

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Article
Publication date: 1 December 1996

Desmond Rea

States that Northern Ireland continues to be governed by Direct Rule from Westminster, with the Government in the Republic of Ireland able to influence that rule through the…

608

Abstract

States that Northern Ireland continues to be governed by Direct Rule from Westminster, with the Government in the Republic of Ireland able to influence that rule through the Anglo‐Irish Conference and the Secretariat located in Belfast. There are many questions emerging from the recent political history of Northern Ireland: the political implications of continued Direct Rule, the implications of any UK government withdrawal and the economic consequences of peace. The answers to many of the questions posed by its recent political history depends on the future political management of Northern Ireland.

Details

International Journal of Social Economics, vol. 23 no. 12
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 26 June 2007

Robert Hooijberg, James G. (Jerry) Hunt, John Antonakis and Kimberly B. Boal

A key distinction, mentioned by Dubin (1979, p. 227), is “leadership at a distance.” When Dubin was writing, there was little research on this topic. More recently, however, there…

Abstract

A key distinction, mentioned by Dubin (1979, p. 227), is “leadership at a distance.” When Dubin was writing, there was little research on this topic. More recently, however, there has been an upsurge in leadership-at-a-distance work. We see a major review by Antonakis and Atwater (2002), following an earlier one by Napier and Ferris (1993), along with work by authors such as Shamir (1995) and Waldman and Yammarino (1999).

Details

Being There Even When You Are Not
Type: Book
ISBN: 978-6-6110-4908-9

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Book part
Publication date: 29 September 2021

Clare Holdsworth

Abstract

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The Social Life of Busyness
Type: Book
ISBN: 978-1-78743-699-2

Available. Content available
Article
Publication date: 1 March 2002

105

Abstract

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International Journal of Sports Marketing and Sponsorship, vol. 4 no. 1
Type: Research Article
ISSN: 1464-6668

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Article
Publication date: 1 August 1987

A. H. Walle

Wherever television is a commercial venture which earns a significant percentage of revenues from advertising, it tends to be transformed to better serve the needs of ad agencies…

316

Abstract

Wherever television is a commercial venture which earns a significant percentage of revenues from advertising, it tends to be transformed to better serve the needs of ad agencies and their clients. One oft raised complaint is that in an attempt to raise ratings and viewership, advertisers insist that shows cater to the “lowest common denominator” of society; as a result, quality programming is often compromised, eliminated, or banished to time periods when viewing is inconvenient. Programme diversity is also undermined. This paper suggests that the strategies of commercial television often restrict high quality programming even if the actual sponsors are committed to quality and diversity. This is done to create an environment which will best serve the majority of sponsors, and thus attract maximum advertising revenues. A history of Voice of Firestone (a long‐lived programme on U.S. Radio and TV) will be used as an example of this tendency. In an era when Europe is becoming more involved with commercial television, the lesson of such examples is especially significant.

Details

European Journal of Marketing, vol. 21 no. 8
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 February 2000

DAVID C. CROSON and HOWARD C. KUNREUTHER

This article examines how reinsurance coupled with new financial instruments can expand coverage to areas exposed to catastrophe losses from natural disasters, and demonstrates…

471

Abstract

This article examines how reinsurance coupled with new financial instruments can expand coverage to areas exposed to catastrophe losses from natural disasters, and demonstrates how reinsurance and the catastrophe‐linked financial instruments can be combined to lower the price of protection from its current level. A simple example illustrates the relative advantages and disadvantages of pure catastrophic bonds and pure indemnity reinsurance in supporting a structure of payments contingent on certain extreme events occurring. The authors suggest ways to combine these two instruments using customized catastrophe indices to expand coverage and reduce the cost of protection. This article states six principles for designing catastrophic risk transfer systems and discusses practical issues for implementation, and then concludes with suggestions for future research.

Details

The Journal of Risk Finance, vol. 1 no. 3
Type: Research Article
ISSN: 1526-5943

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