This report will seek to identify key area of Virgin Group relevant to the assignment question, namely: the Profile of Richard Branson, what is his business Skill, Marketing, What is Motivation for the employee and the Virgins Culture, This report be produced though the research of the relevant materials (textbooks, journals, websites, articles, class PPTs and Case studies etc.) and will be supported through a conclusion, which will serve to serve to summaries the key points contained in the findings. The report is for the attention of Mr. Cowley and is being submitted in order to meet the assessment requirements for FC088.
The founder of Virgin-Richard Branson( born in 18 July 1950).
When Richard Branson was sixteen years old he dropped out of school and created the youth-culture magazine, after two years the stated his Virgin Mail Order business, in 1972,this was the important change for Richard Branson ,because he was open England's first residential recording studio which is near Oxford, UK. Then Virgin Records, later known as Virgin Megastores. The brand of Virgin grew significantly during the 1980s.
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Nowadays, Richard Branson is the 4th richest person of United Kingdom and the Virgin became the largest company in this world, Richard Branson employed about 24000 employees in 150 difference companies and the income totaling about five billion dollars every year form the Virgin Group.(Virgin Group,2012)
Richard Branson's skills for business are Flexible thought, public relations and leadership skills. For flexible thought, Richard Branson always opens to change his standpoint and approach to any idea if he thinks that can let him know the new thing or new culture, he could catch an opportunity and move quickly to make it success.
Flexible thought- Many of virgin's products was failed including Virgin Cola ,Virgin Bride and Virginâ€¦ , but he never give up ,he know when should he get out and when should he go in so he is flexible.
Pubic relation- Richard Branson often attend different activities, for example: Charity activities and promotion activities so his public relationship is very wide.
Leadership skills- Richard Branson's leadership style are based on simple rules, they are smile at every time, have fun at work and trust your ideas, employees and your partners.
2.2 Marketing (marketing mix & mission statmention)
"Market mix is a part of marketing, marketing is broken in these four parts-4Ps, it can help the company achieve the marketing needs" (Surridge &Gillespie, 2012).4Ps include Price, Place, Product and promotion.
For price: it means the money which is the consumers spent for the product, price is an important role in consumers' buying decision, for example there have A shop and B shop, their product is very similar, but A shop's price higher than B shop then the customers world choice B shop. The price strategy of Virgin Atlantic is
For Place: it means the channels which used to sell the product or services to the end consumer. Virgin Group is both of traditional and non-traditional shop .
For product: it refers to the services and goods, the companies always show how well their product to attract the customer attention so they will force on quality, services, brand, support and safety. Virgin Atlantic has offer three distinct classes for their flights: first class, business class and economy class, this three difference class have the three difference price and quality.
For promotion: promotion is the communication way for business to customers , it can provide the new information about the product or service to customers, at the same time, it is a good way to the customer give the feedback. There have two main way for promotion, they are above the line and below the line. For above the line, it means relating to advertising in magazine, internet or on television, etc. it is the simple way to let the people know about a company or product. For below the line, it means relating to use media for advertising, such as E mail or trade shows, it can easy to have the feedback from the customers. The promotion of Virgin Atlantic are related on the TV, magazines press and taxi sides so they are the both of above the line and below the line
Always on Time
Marked to Standard
Mission statement for Virgin Atlantic is " Safety, security and consistent delivery of the root of everything we do (Virgin Atlantic. 2012).
Motivation, it means "a feeling focus which drives an employee to work harder, is the most important part to run the business."(Surridge &Gillespie, 2012). There have three famous different views exist no motivation, they are Scientific School (Taylor,1856-1917), Human Relations School(Mayo,1880-1949) and Neo-human Relations School of Management.(Maslow,1908-1970 and Herzberg 1923-2000).For Scientific School, it means the employees never enjoy their job and they need close supervision and control so the managers should division of labor then it can make the employees more force on they work, according to how many items did the employees finished in a set period of time-piece-rate pay. For Human Relations School, Mayo think that money is not the only factors to motivated the worker, he thought that employee should be motivated by meeting their social needs, it means have the better communication between the leader and employee so the employee can had the opportunity to give the feedback, next points is working in groups or teams, it means suggest use of team working and develop the personnel departments to improve the relationships in the workplace. For Neo-Human Relations School, it can call the new Human Relations School, because it is not only forced on social needs ,it also forced on the psychological needs, it means concerned with satisfying needs and create need classifications, individual needs is the basic and the self-actualization is the highest needs .
Virgin Group is a type of Neo Human Relations School. Virgin Atlantic is a good example they look after their employee as well as their customers, they give lots of benefit to their employee for example: Childcare benefit, Holiday purchases, Income Protection and Private Medical Plan, etc. (Virgin Atlantic, 2012)
Organization culture means "the ways of the organization lead through its business, entertain its employees, consumers, and the wider community"(Alvesson, 2003).
Richard Branson believes that if you want your employee to be happy at their work, you need to have a culture where employee can have their own idea, where employee can feel safe, and respect, happy and confident. Just a relax work place. If the employee feel good, they will more likely to do something for another one. If they talk about their story to their friend. This is the best advertisement for your company.(Virgin group ,2010)
The culture in Virgin Group, they are let employee relax, encourage informality-stay on first name terms, say the positive things rather than negative things, etc. those method can make the employee more like the joy and reduce the working pressure.
In conclusion, this report has shown what is the main factor to make the business success and the key area in Virgin group, including to Richard Branson's profile, what is the marketing mix and mission statement in Virgin, what the motivation for Virgin's employee is and what is the culture in Virgin. It is clearly to seen that Flexible thought, public relations and leadership skills are the most important skills in the business, they can make the business more successful. The motivation of the employee is the second important part because if the employee feel happy and enjoy for their job, they will more hard working and less absent. According to marketing and the motivation, Virgin Atlantic was success because they know what the customers need is and the employee like their job and enjoy their work so they would offer the best services to the customers.