Virgin Group Ltd.

[Name of the Institute]

Virgin Group Ltd.

Introduction

Virgin Group Limited is a British venture capital conglomerate, which has an extensive global business portfolio. Incorporated in 1989, the company has been able to achieve exponential success in various industries, by the leadership qualities and the vision of its CEO Sir Richard Branson. Through its focus on developing innovative solutions and products across diverse global markets the group has been able to become one of the most recognized and respected brands. The company has been able to extend its reach in several diverse industries ranging from mobile phone sector, travel related agencies, financial groups, leisure, music industry, health related products and services and also various holiday and vacation related services. Guided by the energetic and entrepreneurial vision of Branson, the company has adopted the philosophy of attaining innovation and market leadership in a diverse group of companies (Fabrikant, 1997). The management puts an emphasis on the development of innovative and creative ideas, which will help the company, bring something new to the market, it does not stress about the industry the company should invest in. If the idea is truly innovative and presents something new to the customers: the management will back the initiative to venture in to novel and unknown business industries. This is the ability of the company that has enabled it to achieve an exponential growth period in the recent history, and has established Virgin Group Ltd. as a substantial global brand entity.

The innovative and high risk strategy is the brain child of the entrepreneurial Chairman if the company, Branson. He has instilled within the organizational culture the strategy of taking certain amount of risks, in order to be able to support revolutionary and novel ideas. The Chairman of the company believes that the success is the end result rather than the driving influence and the primary motivation if the company should be to invest in the production of creative and innovative ideas. He believes that if Virgin Group Ltd. Continues to introduce innovations to the market, the global organizational success will be a natural consequence. Hence the main focus should be in the development of the quality products and services, which will allow the company to expand its global customer market and achieve significant success.

Discussion

Richard Branson's Leadership Style: In the US perspective

Sir Richard Branson leadership style is solely based on his ability to genuinely bond with the employees and alleviate their existing concerns and queries. The organization which has established itself as a major global brand has been able to continuously produce innovative service and products in different industries, and managing to successfully face several global competitors. The ability of the company to effectively maintain this policy has been due o its focus on developing the most important asset of the company, which is its human resource. The employees are considered as the most strategic assets of the company, and considerable investment should be made in this resource, so as to increase their competencies (Goleman, ...