Not so long ago Waitrose and John Lewis were lauded as model retailers. They had enjoyed years of rising sales and profits and, as part of the John Lewis Partnership, were owned by their employees. But now Waitrose is battling to turnaround falling sales and the partnership is losing money. Is being owned by staff part of the problem? Has it meant that Waitrose has been too slow to react to changes in how we shop? James Bailey, the boss of Waitrose, addresses those questions in the latest episode of Business Studies. It is an issue that is even more important after reports emerged following the interview that the John Lewis Partnership could sell a minority stake to an external investor and dilute its ownership model. Bailey also discusses the status of the Waitrose brand, the future of food, what he learned from his mentor Mike Coupe, and why he nearly got fired by Sainsbury’s for promoting flexible working…

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