Richard Branson and the Virgin Group of Companies in 2007 Essay Example for Free

Richard Branson and the Virgin Group of Companies in 2007 Essay A. Problem Summary â€Å"Richard, you will end up in prison or as a millionaire†. These are the words of the headmaster of Stowe, a private boarding school Branson dropped out at 17. His success started by publishing a magazine called Student, then he moved on to mail order records. This is where the Virgin Group started. Richard Branson has developed his brand in a large variety of markets. The over-familiarity of the Virgin brand has caused the consumers to not take the brand in a serious manner. One might argue that he stretched his brand too thin. This lack of focus and over-diversification could result in further over investments in projects that do not hold a steady future. In this paper we will brake down the strategic of sense of apparent entrepreneurial chaos. We will address topics such as key resources, dominant logic, characteristics of markets that conform to this logic, and designing a corporate strategy and structure. B. Analysis †¢ Key Resources o Virgin Brand The Virgin name is the group’s most important asset. The group is involved in a variety of different business ranging from airlines, books, jewelry to limousines. The Virgin Brand strives for value for money, good quality, brilliant customer service, innovation, competitively challenging and fun. The customers receive these attributes in a variety of ways. This is the brand’s competitive advantage. o Branson Branson’s eccentric personality, laid-back look and charisma are the essence of the Virgin brand. Branson embodied the spirit of â€Å"New Britain† to his generation because of his image and entrepreneurial spirit. Branson acted as a magnet for potential entrepreneurs; his brand actively encouraged the creating of fresh business ideas to its development office in London, Sidney and New York. Branson’s opposition to corporate offices led him to conduct business from family homes, houseboats, and vacation homes. His image exuded a carefree approach to exploring new ventures. Branson was impressed by the Japanese approach to business. Their long-term development and focus on organic growth were the key points Branson admired. His networking skills started a very young age. His first team was comprised of childhood friend Nik Powell, and affluent individuals such as Simon Draper and Mike Oldfield. Key management of the Virgin Group is the informal relations between Branson and a small core of long-term associates who form the senior management team of the group. Branson considers cash flow and capital value as important performance indicators, rather than concentrating in accounting profits. His tendency to avoid short-term taxable profits makes his approach ideal, concentrating in long-term capital growth instead. †¢ Dominant Logic The ability of the Virgin Group to operate effectively with so little structure or management systems owes much to the group’s unique organizational culture. This is defined almost entirely by Branson’s management style. His style reflects his sense of fun, disrespect for hierarchy and formal authority, commitment to employees and consumers and belief in hard work and individual responsibility. †¢ Characteristics of Markets that Conform to this Logic o Consumer Branson wanted to offer consumers a â€Å"new deal† by continually being on the lookout for business opportunities. Branson did so by involving venture with direct sales to consumers and passing on the cost savings from bypassing traditional distribution channels. o Dominant Incumbent Branson’s Virgin Travel is the dominant incumbent Virgin brand company. Post 2002 recovery in the airline industry, Virgin Travel was able to turn the largest profit of the Virgin Groups. o High Entry Barriers to Other Start-ups The airline and galactic companies both involve high entry barriers and significant start up costs. In addition to costs, Branson also had to negotiate with governments in order to receive approval. o Branson/Virgin Image Appeals to Customers Branson believed in multiple companies interlocking through managerial and equity linkages in a collaborative network. He accomplished this by having small companies combined and believes â€Å"small is beautiful† with strength through unity. Branson is a strong advocate of sticking it to the large corporations. †¢ Designing a Corporate Strategy and Structure o Business Model Virgin Group is built upon the theory of creating an entrepreneurial incubator and diversifying the corporation as much as possible. Branson does not want his best people to leave the company and start their own ventures. Instead, he prefers to develop them into millionaires within. The company is focused on diversifying into many markets. Some of these markets include travel, jewelry, entertainment, records, and mobile. His corporate strategy is focused on cash flow and capital value. He wants to increase his company’s real value and a long-term cash generation potential. He does not care about his accounting profit. o Type of Structure The Virgin Group is structured as if they are 150 small companies. Each one stands on its own two feet, as if they are their own companies. Employees have a stake in their success. They feel they are crucial to their individual company because they are one-in-fifty or one-in a hundred instead of one-in-tens-of-thousands. All of the companies are under the Virgin umbrella, but none of them are looked at, as simply a subsidiary. C. Alternatives As for the scope for New Approaches to Customer Service, Branson wants to create value for the customers entering with a new anti-establishment attitude, which sought to offer customers a better alternative. Branson hoped to bring a breath of fresh air. Virgin’s brilliant customer service approach strived to be â€Å"friendly, human, and relaxed; professional but not corporate†. According to the financial results of select Virgin Companies from 2004 to 2006. Virgin Retail Limited had a negative net profit in 2004. This branch of Virgin could be looked at to potentially divest. In order to maintain the Virgin name a success. Branson may look to consolidate some of his different brands in the future. With the threat of Britain’s capital gains tax laws, this could eliminate the advantages of multiple off shore companies, which Branson is involved in. D. Recommendation We feel the best alternative for Branson and his Virgin Brand would be to look into divesting out of some markets and focusing more on a smaller scale. Richard should look into investing more into the companies that are performing well and stray from unprofitable, high-risk markets. If Branson looks at the financial standpoint of his companies and possibly divest in the poor performing ones, he could potentially be more successful. Overall, Branson has been mostly successful in his quest for Virgin dominance. There is some room for improvement in Branson’s strategies; however, he is going to do what Branson wants to do. And this strategy has obviously been successful thus far.

Parallelisms and Differences:Rastafarianism and Judaism Essay -- Rasta

Parallelisms and Differences:Rastafarianism and Judaism The two religions of Rastafarianism and Judaism embody many of the same characteristics, as well as their ancestry. Although the Rastafarians, at times, inaccurately explain the bible, their belief in the Old Testament is still prevalent. Many of the customs are almost identical, but the rationale behind the traditions and laws contrast greatly. In 1933, when Leonard P. Howell was arrested for using"seditious and blasphemous language,"to boost the sale of pictures of Haile Selassie, he stated that Selassie was,"King Ras Tafari of Abyssinia, son of king Solomon by the queen of Sheba."1 Howell knew that in later years factual information about Selassie's true origin would be declared. As an Ethiopian constitution of 1955 confirms, Haile Selassie in his position as Emperor,"descends without interruption from the dynasty of Menelik I, son of Ethiopia, the Queen of Sheba, and King Solomon of Jerusalem."2 This constitution, therefore, gives us direct evidence from Ethiopian sources of an existence of a section of the Ethiopian Population practicing the Jewish Religion. According to the bible, King Solomon, King of Israel and the Jews, was paid by a visit from the Queen of Sheba, an Ethiopian Monarch. The Kebra Negast, the book of the glory of kings, states that by a trick, King Solomon inveigled the queen into sharing his bed with the result of a new born son, Menelik, who in due course became king or negus of Ethiopia.3 The queen was very impressed during her visit to the Holy Land, and adopted the Jewish Religion. But her son Menelik, when he grew up, visited his father, and transferred the Ark of the Covenant from Jerusalem to Axum. It is at this point where a new r... ...USA, no publishing given) Sanhedrin 90b 31 King James, Holy Bible, Song of Solomon, (USA, no publishing given) Berakhot 28b 32 King James, Holy Bible, Song of Solomon, (USA, no publishing given) 33 King James, Holy Bible, Song of Solomon, (USA, no publishing given) Genesis 3:18 34 King James, Holy Bible, Song of Solomon, (USA, no publishing given) Exodus 10:12 35 King James, Holy Bible, Song of Solomon, (USA, no publishing given) Proverbs 15:17 36 King James, Holy Bible, Song of Solomon, (USA, no publishing given) Psalm 104:14 37 Barret, Leonard E. The Rastafarians (Boston: Beacon Press 1997) p129 38 Kolatch, Alfred J., The Jewish Book of Why (Jonathan David Publisher 1981) 118 39 Barret, Leonard E. The Rastafarians (Boston: Beacon Press 1997) 40 Barrow, Steve and Dalton, Peter, Reggae: The Rough Guide (London: Rough Guides LTD1997)191

Crocs

Crocs began marketing its shoes at a November 2002 boat show. Crocs were originally intended to be sold to boaters, because of their slip proof, non-marking sole and the fact that they are waterproof and odor resistant. However, this market soon expanded to include gardeners, healthcare workers, waiters, and other professionals who had to be on their feet all day. This market began to encompass markets Crocs had never considered.Over the course of a year what had started out as simply an idea on a sailing trip evolved into one of the greatest footwear phenomena of the decade. Products and Target Market Crocs currently targets multiple market segments ranging from boaters to gardeners to simply individuals wanting a comfortable pair of sandals. However, the firm's initial target market was boaters. Crocs' initial foray into the market was an effort to provide a comfortable pair of nonslip boating shoes to a niche market.This target market soon expanded to others who would pay a premiu m price for comfort. Nurses, retail store clerks, and others who spent most of the day on their feet quickly recognized the value proposition Crocs offered: while expensive, these individuals were willing to pay a premium to avoid the discomfort of traditional shoes. Today, Crocs targets an even wider swath of the market. Crocs' product category advertisements state that Crocs are for â€Å"women, men, kid, sports, and everyone. To further broaden their market, Crocs advertises that among these segments, customer will find its products to be comfortable â€Å"on the beach, around the house, in the rain, in cold weather, off the road, for walks in town, â€Å"and even something that will â€Å"look good in the office. † Crocs has kept its original characteristics of light-weight, non-slip, brightly colored product lines while created additional styles to accommodate the needs of different consumers. Crocs also offers apparel products such as t-shirts, shorts and even women' s leggings.

Racism in Latin America - Free Essay Example

Sample details Pages: 4 Words: 1250 Downloads: 5 Date added: 2019/02/05 Category Society Essay Level High school Tags: Racism Essay Did you like this example? While the idea of racial democracy may be an ideology or agenda pushed by the political elite, there is evidence which shows the majority of Latin America is that of mixed or mestizaje lineage, people who aren’t clearly indigenous, black, or white. Racism manifests in Latin America where politics attempts to manipulate culture; divisive politics makes people easier to control and racial lines are easily exploited. According to Peter Wade, and his peers agree, Humans are â€Å"too similar genetically†, and groups so intermingled, that variation is too great to be categorized into races. Race is a set of â€Å"ideas† about human our similarities and differences. (Poole Wade, 2008) Ideas about racial democracy and racism in Latin America span pre-colonial, colonial, to modern times and have evolved to show tension between nature and varying forms of government – and its effects on the populations targeted. Don’t waste time! Our writers will create an original "Racism in Latin America" essay for you Create order Pre-Colonial/Colonial race relations The â€Å"social contstruction† of Latin America by Europe started immediately upon arrival in 1492 and by late 1500’s a population of roughly 20 million native â€Å"Indio† populations was reduced to two million. (Gates, 2011) Such a reduction in the native, â€Å" New World† manpower used by the conquistadors called for imports of African slaves en masse to South America, the Carribean, and North America. Thus a caste system or â€Å"sistema de castas† was proliferated throughout the Americas to promoted â€Å"proper† mixing of the races along state sanctioned lines. For such a system to work, the people, brown, black, and even white, had to be indoctrinated to believe that this is how things were, however pseudo-scientific we know such principles to be today. (Nieto-Phillips, 2008) Limpieza de Sangre By end of 17th century interracial marriages were on the rise, the Catholic Church relaxed its former restrictions on race mixing. The Catholic Church allowed marriage between all groups. So as doctrine changed and laws evolved to grant freedom to black slaves and children of white citizens, such propaganda as â€Å"Casta paintings† were painted to show diversity of mixing genes of black people, brown people, and white people. (Las Castas, 2013) Pseudo scientific reasons to make certain people inferior so that they were more easily managed. Convincing certain parts of the population that they are inferior is the key part in such a social manipulation technique; there is ample documentation of the psychological, physical, and emotional abuse that took place to enforce such philosophies. (Gates, 2011) Mestizaje Multiculturalism In modern times, if there is a case to be made for racism in Latin America, it is in the ideas about racial democracy and confusing racial coexistence with racial equality. Many Latin American governments it is the protocol, or doctrine, to push the belief that race is not an issue, that racism is not a problem, that racial discrimination does not exist because everyone is mixed – mestizaje. On the other hand much academic research shows that racism does exist and that racial discrimination does occur/is a factor in peoples’ life outcomes. (Zizumbo-Columbo Martinez, 2017). In our modern era we can observe the effects of what Peter Wade describes as â€Å"social construction†, we have this dual reality; on one hand we have racial democracy, which isn’t just a myth. It is in some respects a reality; Latin America is very much mixed between racial categories of white, black, and brown. (Race and genetics interact with each other; humans, genetically, are 99.9% the same, 0.1% different). For the last few decades Latin American nations have been going through processes of multicultural reform, giving land rights and educational rights to indigenous and black minorities. Such genetic data reinforces the idea that actually, Latin Americans are mixed primarily; this tends to put indigenous and African derived populations on the outer fringes of the modern Latin American societies. There was a period in the early 20th century where racial democracy was widely celebrated. There were national identities built around how mixed populations had become over time, in an effort to manifest a more racially tolerant reality. The lack of black people in political elite; Brazil, Mexico, Colombian elites are predominately white whereas the working class populations are of darker complexions’. (Poole Wade, 2008) The whole idea of racial democracy is, in one sense it’s an ideology imposed by the elite as a kind of idea about what the nation is. On the other hand, it also has certain elements of truth about it because the experience that the majority of the people in the country are mixed, and aren’t clearly indigenous, black, or white. This is an every day reality in Latin America. Particular cultural stereotypes exemplify racial distinction. Current Manifestations of Racism Current president of Guatemala, Jimmy Morales, while running for office in 2015, faced criticism for his character â€Å"Black Pitaya† or Black Dragonfruit. Morales, a former comedian and actor caught judgment for his questionably racist blackface comedy bit. (cite). Morales is associated with the least wholesome aspects of certain Afro-Latino stereotypes like narco-traficantes, hyper sexual content, and violence among lower classes. Such characters also exist throughout places like Peru, and Mexico. Morales just happens to be in the spotlight as he now holds the highest office in the land. Like Trump and his followers it appears Morales is no stranger to using polarizing racial rhetoric to gain political and economic advantages. (Lakhani, 2015) Other racist manifestations include cartoons like Memin Penguin, an afro-stereotypical rendition of a primate in popular comic book character form. The argument is that such characters in Latin American pop culture are so dated, coming from a time when such racial mockeries were seen as acceptable, and so they can be laughed about today. Again, an attempt to push a â€Å"we are mixed, and past that part of society† mentality. It does not always manifest in the true nature of society. I do not see any reason to believe things will change very much in Latin America, one of the things about Latin America in the last decade or so there has been a move toward official multiculturalism, where states recognize that they are, in fact, more racially diverse than previously admitted. (de la Cadena, 2007) Racism manifests in Latin America where politics attempts to manipulate culture; divisive politics makes people easier to control and racial lines are easily exploited. Should the people of Latin America (and even North America) continue to play into the false rhetoric and political propaganda displayed by media business models securing their profits from consumers, then we should expect the same cycle or manifestation of racial polarization. ? Works cited Casale-Hardin, M. A. (2017, December 07). Mejorar la Raza: An Example of Racism in Latino Culture. Retrieved October 14, 2018, from https://www.huffingtonpost.com/maria-alejandra-casalehardin-/mejorar-la-raza-an-exampl_b_7558892.html De la Cadena, M. (2007, September 25). Reconstructing Race: Racism, Culture and Mestizaje in Latin America. Retrieved October 14, 2018, from https://nacla.org/article/reconstructing-race-racism-culture-and-mestizaje-latin-america Gates, H. L. (2011). Black in Latin America. Retrieved October 12, 2018, from https://www.pbs.org/wnet/black-in-latin-america/ Lakhani, N. (2015, October 21). Guatemala election puts Latin Americas affinity for racist caricatures in spotlight. Retrieved October 14, 2018, from https://www.theguardian.com/world/2015/oct/21/guatemala-election-latin-america-racist-caricatures Las Castas – Spanish Racial Classifications. (2013, June 15). Retrieved October 14, 2018, from https://nativeheritageproject.com/2013/06/15/las-castas-spanish-racial-classifications/ Nieto-Phillips, J. M. (2008). Language of blood: The making of Spanish-American identity in New Mexico, 1880s-1930s. Albuquerque: University of New Mexico Press. Poole, D., Wade, P. (2008). A companion to Latin American anthropology. Malden: Wiley Blackwell. Peter Wade, Race in Latin America, A companion to Latin American Anthropology (2008), pp.177-189 Zizumbo-Colunga, D., Martà ­nez, I. F. (2018, September 20). Study reveals racial inequality in Mexico, disproving its race-blind rhetoric. Retrieved October 13, 2018, from https://theconversation.com/study-reveals-racial-inequality-in-mexico-disproving-its-race-blind-rhetoric-87661