Success: VIRGIN Group February 3 rd,2016

Agenda Introduction Leader of Virgin Group Corporate Rationale Strategic Relationship Richard Branson philosophy Conclusion

Introduction One of UK’s Largest Private Companies, annual turnover 5 billion Euros Created more than 300 branded companies worldwide Has 50,000 employees, 30 countries 96% UK consumers are aware of Virgin brand 95% are aware of Sir Richard Branson as founder Closest associations are “fun”, “innovative”, “daring”, “successful”

Leader of Virgin Richard Branson: the founder and owner of the virgin Group,an empire of 350 companies He was born in 1950 in london. Richard Branson started his way from record-shop owner to be now a head of the Virgin empire

The Virgin Group Virgin Travel Virgin Atlantic Virgin Holidays Virgin Aviation Virgin Balloon Virgin Rail Virgin Cinemas Virgin Media Virgin Publishing Virgin Group Virgin Direct Virgin Net Virgin Money Virgin Mobile Telecoms Virgin Music Virgin Records Virgin Radio EMI Virgin Music Virgin Digital Studios Virgin Trading Virgin Megastores Virgin Enterprises Virgin Clubs Virgin Cosmetics

Corporate Rationale Virgin’s corporate rationale is merely a projection of Sir Richard Branson’s own personal philosophy. The management aims to being known as the “customers’ champion”. As for corporate bureaucracy its significance in the Virgin Group is very minimal. Sir Richard Branson adopted a ‘hands-off’ policy with his managers and by doing so, encouraged their own initiatives.

Strategic Relationship All the business in the Virgin Group is strategically targeted towards a “five pillar” empire system. “the heart of Virgin’s core strategy to develop the five pillars of the business empire: travel, leisure, mobile phones, entertainment retailing and personal finance”. Brand was the single most important asset of the company By giving a venture the prefix of Virgin; is to send out a message to the consumer to say out loud this new business is a “virgin” in its market place, “fun”, “innovative”, “daring”.

RICHARD BRANSON PHILOSOPHY “My interest in life comes from setting myself huge, apparently unachievable challenges and trying to rise above them from the perspective of wanting to live life to the full, I felt that I had to attempt it.”

RICHARD BRANSON PHILOSOPHY What is the most important quality of good leader? “Being someone who cares about people. You can’t be a good leader unless you generally like people. That is how you bring out the best of them”

RICHARD BRANSON PHILOSOPHY How does a man who owns 350 companies get it all done? “I spend about third of the time on trouble-shooting, another third on projects both charitable and business, and the last third on promoting and talking about businesses that I set up” “As much as you need a strong personality to build a business from scratch, you must also understand the art of delegation, I have to be good at helping people run the individual businesses, and I have to be willing to step up back. The company must be set up so it can continue without me”

RICHARD BRANSON PHILOSOPHY ‘Look for the best and you‘ll get the best’ ‘If an employee is not excelling in one area of the company, he or she should be given the opportunity to deal well in a different VIRGIN GROUP job. Firing is seldom an option”

RICHARD BRANSON PHILOSOPHY “I come up with original idea, spend the first three months immersed in the business so I know the ins and the outs, and give chief executives a stake in the company and ask them to run it as if it’s their own, I intervene as little as possible. Give them that and they will give everything back”

CONCLUSION Sir Branson Involves only in marketing & promotion Personal style of Management Seeking ideas from employees Stock options, bonuses, profit sharing & promotion wherever possible Importantly – employees are accountable for performance