IN MY OPINION: Sir Stuart Hampson, chairman of the John Lewis Partnership and an Institute of Management companion, believes mutuality enhances competitive performance

IN MY OPINION: Sir Stuart Hampson, chairman of the John Lewis Partnership and an Institute of Management companion, believes mutuality enhances competitive performance - My company has just gone through the process of rewriting its constitution.

by SIR STUART HAMPSON

My company has just gone through the process of rewriting its constitution.

Of course, not many companies have a constitution, and still fewer would put such a rewrite at the top of their agenda at the risk of diverting management attention from the increasingly severe challenge of making a decent profit. But the John Lewis Partnership has had a Constitution for more than 70 years, and the process of blowing the dust off arcane paragraphs has proved both invigorating and relevant to competitive survival.

The opening two sentences illustrate what I mean. The first is a simple statement under the heading 'Purpose':-

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