Richard Branson Leadership Style and Philosophy Essay

Richard Branson Leadership Style and Philosophy - Essay Example The present research has identified that over the years the Virgin Group has always been famous for their focus on customer service. However, Branson’s theory asserts that their highest priority is in making their employees as comfortable as possible. The reasoning behind this theory is that when a company has happy and satisfied employees, the employees will be able to give their best in the production process. As a result, the products and services that are produced by such companies will be in accordance with the expectation of the customers. As a result, customers will be satisfied and will remain loyal to the brand. This implies that there will be higher profits, which simply mean that investors will also be highly rewarded for their investment. Despite the fact that the Virgin Group has businesses in various parts of the world, it is improper to refer to the Virgin Group as a multinational. This is because all their businesses operate separately with Branson serving as a major shareholder in all cases. He also acts as the chairman and public relations supremo in all cases. Branson believes in product departmentalization, which refers to dividing an organization into various departments depending on the kind of product or service that they produce. For the sake of flexibility and the highly changing business environment, Branson believes that business organizations can highly benefit from using organic structures. Their companies use various types of departmentalization such as geographic and customer departmentalization because of the independent nature of their companies. Richard Branson should consider more postmodern organizations. This is because globalization has led to a business environment where factors that affect the functioning of a business are more than just those that are dominant in the geographical area in which they operate. It gets to a moment that even the individual organizations will have to expand past their comfort zone for t he sake of growth and competitiveness. However, it should also be noted that globalization leads to a situation where cultures are crossing borders. This is an implication that business organization needs to be more flexible so that they can be able to adapt to the changes that are brought about by the growth of globalization.

Developing Tyrrells Potato Chips Essay Example | Topics and Well Written Essays - 3000 words

Developing Tyrrells Potato Chips - Essay Example For this purpose it may resort to more advertising, other promotions, offering discounts and better customer service. It can also try to compete by making its operations more efficient and thus bring down its costs. Alternatively, it can try to increase its economies of scale by more investment. Sometimes existing market may become so saturated or uneconomical that companies may enter new markets with existing products. Such a strategy falls under the category of market development. The obvious example is the entry of multinational companies into new markets with existing products they were selling in the home country or other markets. This entry could help the company to transfer loyalties of customers to buy its own products. This is very effective if the product is a well-known brand in the world and is being made available for the first time or in large quantities. If a new product is manufactured by a company and it tries to sell it in the same market it operates, then it is classified under product development. The company is confident that its new product will be attractive in the existing market itself. Companies try to market the new product to existing customers or even get new customers to buy them. The product could be completely new or can be used as accessories or add-ons to its existing products. â€Å"Sell new products or services in current markets. These strategies often try to sell other products to (regular) clients. These can be accessories, add-ons, or completely new products. Cross Selling. Often, existing communication channels are used.† (Product/Market Grid (Ansoff) 2008). Product diversification is an instance where a company develops or acquires a new product and market in an entirely new place. There are four ways of diversification that can be used by a company.