I. EXECUTIVE SUMMARY
Virgin stands as an example of the benefits and success to be derived when top management realise that simply managing people is not sufficient, but investing in the human element that is responsible for all aspects of the operations, will reap tangible rewards.
Virgin approach recognised that human resource management should not just be approached from a series of procedures, polices and systems but should be balanced with a keen interest in the people of the organisation through which key objectives are met.
II. INTRODUCTION
In 1970 Richard Branson initiated the Virgin firm as a distributor of records. Today, after establishing itself in the airline, cellular phone and financial industries (just to name
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With such key behaviours present, the transference and perpetuation of Virgin’s core values is more readily done and accepted. The brand of itself is known for ‘quality, value for money, challenging the establishment and a fun work environment” (Parsley, 2005). While branding may be a marketing responsibility, Virgin acknowledges that a truly sustainable culture starts and continues with the employees.
The instilling of these behaviours has its roots in the personal values, personality, attitude and character of the founder and owner, Michael Branson, who is a key driver of Virgin’s culture.
IV. BRANSON’S LEADERSHIP AND MANAGEMENT STYLE
From all observations, Branson can be described as a charismatic, participative Transformational Leader, which may have its genesis in his personality, personal credo and character. As a leader he:
1. Has an ever expanding vision of Virgin and readily communicates such to employees, customers, stakeholders and the general public.
2. Is sensitive to the environment, both local and international. Due to his innovative nature, he is always on the lookout for new ideas, interest and opportunities to differentiate Virgin’s offerings.
3. Is sensitive to employee and customer needs. This trait is a main contributor to the current culture and focus of the organisation and has been filtered to all levels of management
Richard Branson, the founder of Virgin Group has been a household name in the United Kingdom for over twenty years. He is well respected in the business world. He is the founder of the Virgin Group, which is known for many different things such as cell phones, record labels, airlines and many more. “Branson is also known for his unique character and leadership styles, one who is not afraid to take risks, and believes that people are the foundation to his company's success. If I were to first characterize his leadership style I would say he is definitely a democratic leader. He truly feels that getting other peoples input and listening to what
Virgin Atlantic is clearly the cash cow of the Virgin Empire but we have undertaken a
Virgin is a U.K-based company led by Sir Richard Branson and is one of the three most recognized brands in Britain. The company has a vast history of brand extensions – one of which is their launch of a wireless phone service in the USA. Dan Schulman has been appointed CEO of the Virgin
Nevertheless, besides these threats, there are also opportunities in the industry, which could be exploited by Virgin. These opportunities are that the aging population is likely to increase demand for retirement services in Canada, the fast growing online banking demand and the positive outlook for Canada 's economic prospects.
In 2004 Virgin Australia created a non-profit foundation called Virgin Unite to which it unites people and entrepreneurial ideas to they then create opportunities for a better world. Over the last decade, partners have inspired and raised an amount of magnificent relationships such as Ocean Unite, Carbon War Room and The Branson Centres for Entrepreneurship to which these groups have encouraged the change in the world that is needed. Branson says he spends his time now working with Virgin Unite to ensure that he creates a positive difference that is needed in the world. He supports the projects that he is truly passionate about to being an advocate for issues such as gay rights and using the power he has to raise his voice to the issues that
This provides Virgin Australia with a positive outlook of the future. The international sector of Virgin Australia during financial year 2015 was not so forgiving with a loss of $68.9 million. This was $22.8 million worse than the previous year. The domestic sector has improved greatly however the international sector has fallen into a loss larger than the previous year. Virgin Australia international improved by $2.4 million after making some minor changes to international business class. The operating cash flow of $218 million has improved by $226 million from previous year. Moreover, domestic unit revenue has improved by 3.5%, cost savings target for financial year 2017 has increased by $0.2 billion from financial year 2014. The closing cash balance of $1.03 billion signifies the improvement from financial year 2014. Yield has grown by 5.2% over the past financial year. The outlook statement, as quoted directly from the ASX Virgin Australia Financial year 2015 Results Presentation, states that “based on current market conditions, all fundamental business metrics are on track for the Group to return to profitability and report a Return on Invested Capital in line with its cost of capital for the 2016 financial year.” Virgin Australia is planning to improve their fleet and meet customer’s needs by improving their international network.
I identify Richard Branson as one of the most distinct and famous leaders among the contemporary business leaders for this paper. There may be more famous, wealthy, and renown business leaders around or may be leading with many different leadership styles of those who are CEO’s and founders, but I chose Richard Branson and I would like to analyze and evaluate his unique leadership approach and his natural gifted/talents of leading people to grow and become successful.
The company tends to use pull strategy by creating a fresh and refurbished brand image so that the customer is coaxed to seek out the services offered by the brand(Appendix A). The company has an active social media presence which helps it to stay in touch with current customers and offer a window of experience to its new customers.(Appendix B) The company is actively present on facebook with the name of Virgin Australia, twitter, Instagram, YouTube, LinkedIn and the like(Appendix D). The customers can lodge complaints, find feedback forms; share their views through these websites. The idea behind the whole thing is to create positive social communities.
The purpose of this report was to provide a strategic evaluation of the company Virgin Australia. The report begins by conducting a strategic analysis of Virgin, including an analysis of the external environment and an internal analysis of competitive strengths and weaknesses. The report then identifies the strategic direction and objectives of Virgin Australia, including the vision, mission, strategic objectives and stakeholders of the company. The report moves on to explore strategic choices of Virgin Australia by identifying the key broad business level and
The first part of this report provides a broad introduction into the business of Virgin Australian by examining its principal sources of revenue, its nature of operating, its competitors, the market share and the regulations affecting its operations. From this, it can be seen that Virgin Australia operates in a very competitive environment and generates revenue by the core business of passenger and cargo transport.
Being in the service sector it is important for Virgin Atlantic to study its marketing mix as it works as an efficient tool, while building up marketing plans. It comprises of the seven P’s which are as follows.
Virgin Group LTD is a British venture capital conglomerate that has been around since 1970. Virgin encompasses over 400 different companies located in many industries such as: financial services, transport, food and drink, media and telecommunications. Headquartered in London, this British corporation has come a very long way since it’s birth in 1970. One of the main reasons for the companies success is because of its founder; Sir Richard Branson.
Virgin Group Ltd. is a British multinational branded venture capital conglomerate created by entrepreneur Richard Branson. Its core business areas are travel, performing and lifestyle, and it also achieves ventures in financial facilities, transport, health care, food and drink, media and telecommunications; together, Virgin 's businesses contain of more than 400 businesses worldwide.
Considering about the strategy of the Virgin group, their founder has mainly pointed out that the key to success as to being up to date with the things going on with the environment. When considering about analyzing an organization, one of the main concepts is that the corporate rational. This means that the way in which corporate parent will add value for its strategic business units.
3) Does the Virgin Group, as a corporate parent, add value to its businesses? If so how?