Show:
Music
Distribution Channels
Management Style
Competition Analysis
Business Strategy
100
"Karma Chameleon" was the top-selling single of 1983 sung by this pop-reggae band.
Who is the culture club?
100
A term which describes the buying of goods or services by mail delivery. This was Virgin's first business.
What is Mail-Order?
100
A term referring to a person who is comfortable with ‘Uncertainty of Outcome’, either from pursuing a future positive opportunity, or an existing negative threat in trying to achieve a current objective
What is a risk taker? "The art of a good risk is to protect the downside."
100
The #1 soda company in the world.
What is coca cola?
100
When Virgin Atlantic Airway's bank would not extend L3 million overdraft their first week and they almost had to shut down. Branson gathered up the money from the record company as a loan. Then he got a new bank. Something that acts as a stimulus for a change in strategy.
What is a triggering event?
200
Best known as the lead singer and drummer of English progressive rock group Genesis and as a Grammy and Academy Award-winning solo artist.
Who is Phil Collins?
200
Sir Branson said, " We wanted to relate to the customers, not patronize them, and we wanted to be cheaper than the other shops." This form of distritubution consists of the sale of goods or merchandise from a fixed location.
What is Retail?
200
Members of this type of organizational structures chiefly communicate with their immediate superior and with their immediate subordinates. Sir Branson does not have this type of structure.
What is Hierarchical?
200
Until 2008 it was the largest airline of the United Kingdom, measured by passenger numbers.
What is British Airways?
200
One thing Virgin Records aims for is to transform their bands into household names. When a band has reached a certain stature, they are more like a ________ name. People start buying their new albums on faith.
What is brand?
300
Was named the best-selling female pop artist of the millennium at the 2000 World Music Awards and was dropped by Virgin Records after having after a highly publicized physical and emotional breakdown, as well as the poor reception given to Glitter.
Who is Mariah Carey?
300
Sir Branson decided to lease a spot for his first Virgin store by counting people walking up and down 2 different streets and comparing the numbers. He knew he couldn't rely on people knowing about Virgin and making a special trip to buy a record. He relied upon being able to attract passerby and shop on _____.
What is impulse?
300
His brother in law worked at Virgin Media. Sir Branson said," I always involve my family in whatever I do and I listen to their opinions closely as anyone elses. The British characteristically do not discuss money over a meal, but when it boils over into never dicussing business with family members, then I think this represents a lost opportunity. Business is a way of life. It is small wonder that there are so few business entrepreneurs when business is excluded from the family circle. Defined as, "Showing favor to Family members working for a business"
What is nepatism?
300
Virgin Records set out to own copyright for as long as possible and also bought the rights to the artist's back catalogue. These back catalogues ended up being a gold mine once CDs came out and people wanted to buy artist's greatest hits cds. This is offensive tactic of changing the rules of the game.
What is a bypass attack?
300
From the Airline business, to music, to cola, to retail and nearly a hundred others, ranging from financial services to bridal wear, Branson uses this main strategy.
What is diversification?
400
This musician as a reggae musician who was a core member of The Wailers who then went on to have a successful solo career as well as being a trailblazer for the Rastafari movement. Released his solo debut, Legalize It, in 1976.
Who is Peter Tosh?
400
Branson created a group of companies with_____________ presence, but no central headquarters.
What is global?
400
Branson's 1st marriage fell apart, "As far as I was concerned, the Virgin staff were the most important thing about Virgin, I wanted them to be as happy as possbile". A broad concept including proper prioritizing between career and ambition on one hand, compared with pleasure, leisure, family and spiritual development on the other.
What is work-life-balance?
400
Branson used this when he found out over lunch that a recording artist was no longer under contract and he signed her that same afternoon.
What is competitive intelligence?
400
From the start I tried to position Virgin as an international company and the second thing we always insisted on was incorporating worldwide rights to the artists' copyright in our contracts. This was an example of what type of global planning.
What is strategic?
500
Mike Oldfield's first album quickly reached the Top 10 of the UK album chart and has spent 279 weeks on the chart to date, a figure bettered by only ten other albums.
What is Tubualar Bells?
500
Branson competitor's complained to the record distributors and told the distributor that they must stop selling records to Branson's virgin store. Branson solved this issue by having a small record shop be his middle man and he motivated this channel by offering a larger margin.
What is Channel motivation?
500
Project Aware aims to embed responsible business practice throughout the Virgin Group. It ensures that we manage our impact on society and the environment through our operations, products and supply chain, as well as continue to do the best we can for our customers and employees. This is an example of a broad guideline for decision making that links the formulation of a strategy with its implementation.
What is a policy?
500
Branson uses the following strategies: lower costs and differentiation.
What are Porter's competitive strategies?
500
We believe in making a difference. In our customers' eyes, Virgin stands for value for money, quality, innovation, fun and a sense of competitive challenge. We deliver a quality service by empowering our employees and we facilitate and monitor customer feedback to continually improve the customer's experience through innovation. This is the purpose or reason the organization's existence.
What is Virgin's Mission statement?