Managing competitiveness: 7 - Power through ownership at St Luke's - An employee-owned and managed advertising agency, with operating margins that put it among the best UK agencies of its size, makes use of groundbreaking people management practices, finds the seventh case study in our series on managing competitiveness. Formed in 1996 as a result of an employee buyout from US advertising agency Chiat-Day, St Luke's set out to establish a radically new business model for an advertising agency, introducing a system of collective ownership, non- hierarchical participatory management, peer review and joint decision-making. Many of the formalities of office work have been stripped away, to be replaced with informal, highly cooperative working practices that include the minimising of downward line management and the abolition of individual workspaces.