Shopping around for a better way to operate? Try John Lewis

I used to work for the John Lewis Partnership, and it's a great way of working. Universities could look to worse for inspiration. John Lewis' shares are settled in a non-revocable trust. The beneficiaries of the trust are the employees ("partners"). The trust deed sets out the ultimate purpose of the organisation: "the happiness of all its members, through their worthwhile and satisfying employment in a successful business". Via a substantial and formalised system of…