51. Should businesses be owned by employees? - Dame Sharon White
Apr 21, 2024
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Dame Sharon White, head of John Lewis, discusses running a business democratically, Treasury diversity issues, and cooperation with a secretive government. The episode is filled with insights on employee-owned businesses, crisis management during COVID-19, tough business decisions, and personal reflections on identity and heritage.
Leadership in crisis requires rapid decision-making and adapting to unforeseen challenges.
Emphasizing the role of organizations in driving social mobility through skills development and apprenticeships.
Deep dives
Business Decisions Amidst Crisis
Facing the challenge of leading John Lewis through the COVID crisis shortly after becoming chair, Sharon White reflects on the difficult decisions made to close John Lewis stores and adapt to online business operations. The impact of COVID on retail posed extreme challenges, highlighting the significance of rapid decision-making and adapting to unforeseen circumstances.
Diversification and Market Positioning
Exploring the unique business model of John Lewis, Sharon White delves into the brand's history and its approach to diversification beyond retail. Transitioning from traditional retail to exploring new revenue streams like housing and rentals, John Lewis aims to strengthen its financial position and offerings to meet customer needs and market demands.
Accountability and Leadership Challenges
Discussing the accountability and transparency within business and public service, Sharon White reflects on leadership challenges, decision-making processes, and the impact of accountability on organizational success. She emphasizes the importance of balancing short-term sacrifices for long-term sustainability and growth.
Social Mobility and Skills Development
Emphasizing the role of organizations in driving social mobility, Sharon White highlights initiatives at John Lewis to provide skills development and apprenticeships for young people from diverse backgrounds. Focusing on removing barriers to social mobility and enhancing skills readiness, John Lewis aims to create opportunities for personal growth and career advancement.
Can you successfully operate a business as a democracy? Does the Treasury have a diversity problem? How can you cooperate with a government that keeps you in the dark?
Join Steph and Robert as they interview the head of John Lewis, Dame Sharon White, in this episode of The Rest is Money.