“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.
• 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 “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...