Virgin Group limited is a venture capital conglomerate founded in 1970 by Sir Richard Branson with interest in transportation, travel, mobile, financial services, media, music and fitness. It employs about 50,000 people in more than 30 countries, comprising of 300 companies and brand, with 11.5 billion pounds in revenue as at 2009, (Virgin website). (Adapted from Rob Abdul, 2001)
It started as a mail order business and gradually moved in retailing and …show more content…
It is pertinent to note here that Virgin Atlantic has won numerous customer service award.
The expansion of Virgin and the increasing pressure on cash led to another shift in strategy this time rather than go public again, it was decided that a joint venture would suit the present time and this strategy was pursued aggressively. Eventually Virgin music was sold off as making a dramatic shift from the entertainment industry to travel and airlines. The launching of new businesses eventually led Branson to return to selling off equity stakes. 49% of Virgin Atlantic stakes were sold. By the middle of the last decade Virgin companies now comprised of several holdings companies and over 200 operating company. Using Virgin Atlantic as an example of how Virgin differentiates its businesses from others to give it a competitive edge. Virgin customers enjoys such privileges that other passengers don’t even get in first class having hair stylist and massages in-flight and personal controlled passenger screen.
This was a mail order business which later grew to a record company where he signed artist that was not appealing to the main stream music labels and even though suffered some setback during the 1979 to 1982 recession the company soon turned around and was soon making a lot of profit.
VIRGIN CARGO As Virgin Atlantic was still in the infancy stage of planning Branson thought of taking advantage of the freight service and by the