Strategies of Virgin Group Limited - Case Study Example

Virgin Group Limited Introduction Virgin Group Limited is a private multinational company, in Britain, established in February1970 by two entrepreneurs namely; Richard Branson and Nick Powel, both from Britain. The company has more than 400 organizations or outlets around the globe with some of the core business areas including travel, entertainment services and lifestyle as well (Virgin, 2014). The company has been able to extend its services to areas of finance, transport and telecommunications, health, nutrition and media services. In this paper, am going to analyze the strategies of this company and the communication inside this organization, in general, as well as the manager communication methods. The Organization’s Strategy One of the primary strategies of this company is to have a strategic management analysis, which will allow the company expands and have other more outlets around the world (Branson, 2013). By putting in place the SWOT analysis, the organization has identified this strategy as strength, and which is internal to the company. In the process of trying to accomplish this, the company has put in place the core strategy of developing its major pillars of its business empire. These major components include; travel, leisure, individual finance, telecommunication, and entertainment retailing services that the company offers. To realize this, the organization has been looking for capable managers as well as training the existing ones so as to achieve the goal of its strategic management. Another major strategy of the company is the competition policy, mainly put in place so that the enterprise can outdo its competitors in the market. The company has come up with strategies that have enabled it to attract its customers over a short period. The organization has been able to produce different products, with different packaging and branding so as to differentiate it from those of the other competitors. After reviewing the SWOT analysis, the company identified competition and customers as some of the competitors and prices as the threats of the enterprise. Being external, it has been able to apply blueprint strategy on leveraging strength and opportunities as well mitigating some of its daily threats and weaknesses (Virgin Australia Holdings Limited, 2014). The organization has been able to lower the prices of its products by adding back its profit to the production costs, hence experiencing relatively low production costs. These reflect on the low prices of their services to their clients and in turn winning as more customers as possible, in the long run. The company has been undertaking some product awareness strategies to improve on its product promotion and advertisement. The current CEO of the Company, Josh Bayliss, realized that the best way to improve on their sales is to create product awareness for the consumers, both for the already existing goods and the newly produced ones. The company has made good use of the internet, social sites, media, celebrities, billboards, magazines and produced as many catalogs of the enterprise as possible. In the essence of doing this, the organization has been able to realize some increase in the number of clients seeking for its services, nearly in all its two hundred outlets in the world. The company has been able to develop efficiency strategies in its organizational performances, both for service production and delivery to its clients. After the previous trading and financial period, the company realized that strength and weaknesses as internal factors, it would be better if it comes with more efficient methods of production and service delivery to its potential customers. These included some innovative ways and inventory of new methods to enhance its efficiency. For instance, the organization has established the company’s website with different portals where the clients can book for services and give feedback on their level of satisfaction. Due to this the company has been able to conduct its customers easily as well as receiving use full suggestions from them. In doing this, the average time spent in delivering services to a client has been reduced the previous long queues are no longer present in the organization premises. The Organization’s Communication The organization, through the office of the human resource manager, has been able to embrace the internal communication within the organization, this is internal communication. The internal communication in Virgin Group Limited has been ad essential feature in the process of running different administrative structures within the organization. The central office has been able to ensure an uninterrupted flow of internal communication as a result of the growth in organization’s business, future projections for business and increase in specialization. The company has been able to use communication to motivate the employees and expose them to the enterprise objectives and its ethical ideas. This discussion agenda has always been put in place to ensure that these employees get involved in their daily duties, which will improve the organizations quality of service to its clients. Those employees who have the production lines are frequently communicated and informed on various changes and targets so that they can overcome the possible obstacles. The company always makes communication on price changes, service delivery changes and product quality improvements to its employees, whenever these alterations get done. Due to this, the employees have been able to communicate the same to their customers, on the changes made, and this has significant in improving the efficiency in service delivery. The well-laid process of internal communication to all the employees has been helpful in coming up with efficient adjustment changes within the organization. The employees have been able to communicate their grievances to their bosses within the organization, and this has helped in coming up with immediate and urgent solution for the workers’ issues. The body has put in place an efficient internal communication process that has yielded a strong bond between the employees and the management. This has been able to promote co-operation among the various sectors of the company in the different establishment processes. The effective flow of communication between the organization and the employees has been able to do away with the various elements of misunderstandings (Virgin, 2014). This has helped the organization to achieve its dream of growth both at a desirable and optimal level as set by its board of directors. The manager has established valid paths for downward directions of communication whenever the different managers have some issues to address to the employees, including telephones, flyers, and notice boards. They have made use both of weekly and monthly departmental meetings between the employees and their respective corporate managers. This has ensured involvement of all the employees without alienating any of them from any departments of the organization. Conclusion Virgin Group Limited has been able to set and implement some of its strategies as discussed above and ensuring that they are workable. The organization has also been able to embrace internal communication, both in upward and downward directions which have enabled active exchange of ideas between the managers and the employees. In doing so, the company has brought in place an efficient management process, leading to its objectives and goals realizations and achievement. Bibliography Branson, R., 2013. Like A Virgin: Secrets They Won’t Teach You at Business School. Britain: Virgin Books. Virgin Australia Holdings Limited, 2014. Company Profile and SWOT Analysis , London: Progressive Media Group. Virgin, 2014. NRG Energy Enters into Pact with Virgin Limited Edition, London: Manufacturing Close - Up. Virgin, 2014. The history of Virgin. [Online] Available at: http://www.virgin.com/time-machine [Accessed 18 March 2015]. Read More