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This report is write about the business group which is called Virgin. Write a report can help us learn more of the business group that we write about. We should find a lot of information and read it before we write the report. During this course we can improve our English level and get more business knowledge. This report is mainly includes 3 parts: introduction, finding and conclusion. And the finding divides into a profile of Richard Branson, marketing strategy used by the Virgin organisation, Virgin's organizational culture and how Richard Branson motivation his employees. There also will have my own opinion in the conclusion.
There are many factors lead me to write this report about the Virgin group. Virgin Group is the biggest private enterprise in the British. The man whose name is Richard Branson establishes Virgin. It is a successful example can incentive the young person to upwards. We can learn many business skills from Richard Branson.
Virgin sets up from 1970 by Richard Branson when he was 17 years old. Richard Branson is the most rich legendary color and the one of character charm billionaire in the world, the queen of the British gave him the jazz title. He used his wisdom and courage made today's Virgin. Richard Branson like to challenge, he always develop his own enterprise, even if he is not good at field. Richard Branson is the only real spokesperson of Virgin brand. He has a head of gray long hair, always emerge smile on the face, dare to risk attitude and special behavior is the best annotation of the Virgin brand. Every time the Virgin brand extends, Richard Branson will be physically to do a unique show.
He is a creative man and loves adventurous. Richard Branson has made many world records, for example, in 1991, Branson driving huge hot-air balloon (volume reached 260 meters cubic feet) from Japan over the Pacific Ocean to the north of Canada, the highest distance up to 6700 meters, the rate of 24 km an hour, this adventure broke all records. Every time Branson takes adventure action must produce extremely sensational advertising effect, and wipe on a heavy variety for the Virgin group. No one can guess what a shocking action this hippie capitalist will do at the next time. It makes Virgin brand awareness reached ninety-six percent in the UK,and ninety-five percent of the people can say out who create the Virgin group. Richard Branson has been to work as an entertainment. ( Grant, Robert M 2008 )
2.2 MARKETING STRATEGY
Marketing strategy includes product, promotion, pricing and place.
The customers and the special good is important for product strategy. ( Alan M. Rugman 1995 ) The product of Virgin involves many territories. There are airline business, telecommunications industry, entertainment, travel, financial industry and so on. Richard Branson prefer to bring forth new ideas in the territory which others believed has been ripe. For example, the Coca Cola and Pepsi Cola has been partitioned the soft drink market, but beyond people's expectation is that Branson chooses to product the Virgin drinks. Before long, the sales volume of the Virgin Cola accounted for twenty percent in the European market.
Promotion can stimulus people's demand for the company's good and service. ( Czinkota, Michael R. 1988 ) The Virgin brand is well known in the Europe, a large number of peson have remember it by amazing action of Richard Branson.
'The pricing of goods and services in the international marketplace is often influenced by factors present in home market pricing. '( Alan M. Rugman 1995 ) These factors include government controls, market diversity, currency fluctuations, and price escalation forces. The Virgin's products have high quality with low price. The Virgin airline offers the domestic routes with cheap price in Australia, and people enjoy this service.
There are many places to sale products like emporiums, stores and shops online. Choose the good place to sale the products is important for a company. People can buy the Virgin products online or in the shops.
Each organization has its own culture, including Virgin.The final implementation to top managers is organizational culture. New research has discovered how culture fits together with other elements.The reason culture is important is because top management can directly influence culture through activities an symbols .(Daft,1986:486)
Major determinants of organizational culture are the following: technology, leadership and the power structure, market factors, ownership and history of the organization, organizational age and size, environment. (Wiley,J & Sons,L 2004 )
Virgin is an international business group, it also is a large private enterprises, its nearly 200 companies. "Virgin" means a kind of life attitude: free way of life style, rebellious, open, advocating freedom and extremely precious romantic. Virgin Group has gone on to grow successful business in sectors ranging from mobile telephony, travel, financial services, leisure, music, holidays and health & wellness. ( Virgin 2012 ) Across its companies, Virgin employs approximately 50,000 people in 34 countries. There are many entrepreneurs used "Virgin" named their own companies. The specialists keep their companies on their toes and ensure they can keep developing better experiences and world beating products. ( Virgin 2012 )
Motivation describes the factors that generate, maintain and channel behavior towards a goal. ( Surridge.M, Gillespie.A 2011) It is very important for a business group that has motivating employees. If employees are motivated they are more likely to work harder and produce better quality work with fewer mistakes. This can help the business group save more time and money.
Richard Branson believed that a successful enterprise depends on how good staff it has. Branson is good at leading his employees become motivated.
In the Virgin group, the employees have the relationship of freedom and equality with Richard Branson. For example,he assigned 610,000 pounds in compensation from the case of libel with the British Airways to the whole Virgin's employees equally. Each employee of Virgin got 166 pounds damages from the case of libel. This matter transfered the information for all of the Virgin employees that they won a great victory together.
Everyone who works in Virgin can call his name. And if someone has the idea that they can call him up or write a letter for him.
Richard Branson provided high treatment for his employees. He spent much money to buy an island in Australia for his employees to spend their holidays. In the Virgin group, employees can get the salary of half a year then back home when the Virgin group was in trouble. And they also can back the Virgin group to work if they want.
Motivation helps improve a company's brand and help them become more competitive.
To sum up, this report is discuss about the Virgin group. There are 4 parts in main body: profile, marketing strategy, culture and motivation.
It introduces Richard Branson in the profile. Richard Branson is the leader of the Virgin group, he has an especial way to lead his group and get the great succeed. In the second part is write about the marketing strategy. Marketing strategy includes product, promotion, pricing and place. The third part of the main body introduces organizational culture of the Virgin group. The organizational culture is an important part for the business group, because it can influence the top managers of the business group. As we know, the Virgin group is a large enterprise with a long history. It has the mature organizational culture. The last part of the main body is the motivation of the Virgin group. A successful business group has a large number of factors depends on the motivating employees. And Richard Branson is a good leader who can make his employees get motivation.
The Virgin group told us the business is not just the number can get good development, it also need special thoughts and amazing action.