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Complete 8 pages APA formatted article: MG3122 STRATEGIC MARKETING. The company is headquartered at London, United Kingdom. The departmental store chain was founded by John Lewis in the year 1864. In
Complete 8 pages APA formatted article: MG3122 STRATEGIC MARKETING. The company is headquartered at London, United Kingdom. The departmental store chain was founded by John Lewis in the year 1864. In the initial period the organization started their operation as single store but soon they transformed their business model into departmental store chain with the help of John Lewis Partnership.
The partnership model gives opportunity to employees to gain partial ownership and contribute as stakeholder to business operation of the departmental store chain. John Lewis Partnership provides partial ownership or partnership benefits to existing thirty nine thousand employees of the company (McCallion, 2010). The John Lewis Partnership has won Retailer of the Year in the year 2011. Recent report published by the company shows that they have more than 81,000 permanent staff as well as partners.
John Lewis has been ranked as one of premium departmental store chains of United Kingdom. They have already opened thirty eight outlets and also planning to establish strategic business units in foreign shore within next five years. The London based departmental store chain has achieved annual gross sales revenue of £8.7bn in the year 2011 (John Lewis Partnership, 2012).
Business strategy of the company relies on three interdependent variables such as s Partners, profit and customers in order to achieve sustainable business growth. Strategic initiatives of the company can be analyzed in the following manner.
Providing maximum sustainability and security to partners in order to motivate them to perform well. The company has understood that satisfied partners can help them to improvise in daily operation which will help them to increase operational excellence.
The company tries to retain sufficient profit margin for partners in order to sustain commercial vitality of the company. John Lewis distributes profits to staffs and partners on regular basis in order to motivate them to perform well (John Lewis Partnership, 2012).
