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The Person-Organization: Sir Richard Bransons Particular Style of Success - Essay Example

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An author of the essay "The Person-Organization: Sir Richard Branson’s Particular Style of Success" outlines that the case focuses on leadership in a creative, entrepreneurial organization. Virgin has made many brilliant moves and weathered spectacular setbacks. …
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The Person-Organization: Sir Richard Bransons Particular Style of Success
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The Person-Organization: Sir Richard Bransons Particular Style of Success

Download file to see previous pages... Virgin has made many brilliant moves and weathered spectacular setbacks. The case offers insight into these and other management issues that have come to the fore in Virgins history. Among them are: (1) recognition of opportunities for new entrepreneurial ventures (2) the rewards of timely entry and exit from any business venture; (3) tie-ups and management of strategic alliances; (4) the development of a corporate culture centered around youth and informality; (5) a common, unified approach for all Virgin subsidiaries/group holdings; (6) the management of creativity and identifying and encouraging “in-house” entrepreneurs ; and (7) diversification and entry into unrelated fields. Branson’s strategy for Virgin group was to identify new opportunities where the group would be the first entrant in that field. The brand name Virgin has been associated with innovation, quality, fun, daring, and success. In line with these principles, Richard Branson opened the first record shop in 1971 and launched the Virgin record company in 1973.In 1984, he launched Virgin Airlines, amid stiff competition from the state-run airlines. Within a few years, Virgin Atlantic Airlines was very popular and giving stiff competition to the state-owned airlines. By 1997, the group was a force to reckon with in airline, travel and retailing operations. In each case, Richard Branson made use of the changes in government policies, new technology, and new business opportunities. He launched The Virgin Record Company launched shortly after the UK government had abolished retail price maintenance, a practice that had limited competition and kept prices high. Branson identified the opportunity and began a mail-order business offering popular records at a discount of around 15% compared to the price charged in the shops.  ...Download file to see next pagesRead More
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