- 500+ Experts Online to help you 24x7
- Guaranteed Grade or Get Money Back!
- Rated 4.8/5 Out of 5087 Reviews
Login or Sign Up With Your Email to Complete the Order ProcessGet Additional $5 Cashback on Sign Up
Login or Sign Up With Your Email to Complete the Order ProcessGet Additional $5 Cashback on Sign Up
918 Downloads 18 Pages 4457 Words
A group of people who have come together for a specific purpose forms an organization. It is a formal structure which highlights the role and responsibilities of the individual working in it. Finance, marketing, human resource and operations are four major business activities in the organization. The internal structure of the organization is represented with the help of organization chart. It tells how the different departments within the organization are linked to each other and the role expectations of the employee. Depending on the type of the organization, the organization structure of the organization changes.
There are four type of business organization.
International Business is when the company expand its boundaries i.e. it starts carrying its business across different countries.This can be done in for of FDI, export import trade, franchisee and contract by management. Because of international business there is more innovationand creativity with respect of business. There are some factors that lead to the growth of international business as discussed below:
This report put forward the vision, mission, organizational structure, strategies, PESTLE analysis and SWOT analysis of Virgin group. A multinational company Virgin group has its origin in London, United Kingdom. It was started by Richard Branson in the year 1970 and now it has spread in different parts of UK, Canada, Australia and USA. In 21 century is one of the well-known brands of Britain. It has different product like travel, financial service, mobile, retail, music and cosmetic (Azar, Schmalz, and Tecu, 2017).
Virgin group consist of differentcompanies. It consist of Virgin Active which deals in Gym chain, Virgin Atlantic which deals in travel, Virgin Australia Holdings which deals in travel, Virgin Care which deals in health, Virgin Connect which deals in media, Virgin Experience days which deals in entertainment, Virgin galactic which deals in aerospace, Virgin health bank which deals in Health care, Virgin holidays which deals in travel, Virgin Hotels which deals in hospitality, Virgin Hyperloop One which deals in high speed rail, Virgin Limited Edition which deals in hospitality, Limobike which deals in travel, Virgin Megastores which deals in retail, Virgin Mobile which deals in communication, Virgin Money which deals in banking, Virgin Oceanic which deals in leisure, Virgin Orbit which deals in aerospace, Virgin Pulse which deals in Business service, Virgin Radio which deals in entertainment , Virgin Rail Group which deals in travel, Virgin Unite and virgin Start up which deals in charity, Virgin sports which deals in sports, Virgin Voucherwhich deals in retail, Virgin Voyages which deals in cruise line and virgin trans east cost which deals in travel.
Vision and Mission of the company is based on the changing environment. They believe change is good for the company.They believe that change in the organization will always bring long term benefits to the organization. They fix targets which are clear, achievable and measurable. This brings a positive environment in the organization, customers and the people who relate to the organization. They have same values in different products business. They look at Sir Richard Branson as their leader and will always remain an inspiration for all. Sir Richard Branson values and believes can been seen in different strategies the organization take. They believe in their values and this is what which make them different from other organizations. The want to be a customer focus organization. When Sir Richard Branson was a student he used to publish a magazine. From there he started his first business of mail order records. In the year 1971 he opened his first store on London Street (Williams, 2017).. The further expansion of the business started new company virgin records. In the year 1984 he started with Virgin Atlantic. In 2006 Sir Richard started Virgin media and entering to the field of entertainment.
Virgin group organization structure is complex. The separate companies have their individual structure with their chairman as to be Sir Richard Branson. The main company holds 20 companies. It has a keiretsu organization structure. It is a structure in which the organization own stake in the different companies and all the companies together form a group company. The organization structure helps the organization achieve the vision of change. Each independent company is considered as a department which produce different good and service. The organization works on the principle of product departmentation. As virgin group is a big organization therefore one type of departmentation is not sufficient as different companies have operation in different countries. Another departmentation that the organization follows is geographical departmentation based on the country in which it operates. Presence of different kind of departmentation makes to a hybrid organizational structure. This helps the organization to adapt to the diverse culture in which it operates.
The hierarchy in the organization plays an important role in decision making of the organization. The different companies in the group work separately and have their own hierarchy level. Sir Richard has always believed in intuition in decision making than following a chain of command (Williams, 2017). This makes the employee empowered and confident. The organization favour communication in different level of management. This develops a feeling of part of a family. Sir Richard takesinitiative to interact with the employees regularly. The organization structure helps in quick decision making within the organization and fat communication. It has a flat structure in the organization which helps to expand the business operations (Murphy, 2017). It works on the principle of decentralization and wider span of control. The decentralized structure helps in quick decision making and empowerment of the employees. They have the authority in decision making. Sir Richard believes that the employees are the important pillar of the organization. The level of bureaucracy in the organization is minimum. They donot believe in the tradition system of being orthodox.
The virgin group believes in the importance of the customers. It has a non-formal organization structure which helps in maintaining a good organizational culture in the organization. It has decentralised structure and less authoritative structure as Sir Richard believes in casual nature in the organization. He believes in hard work and responsibility, which can be found in his employees also. The culture within the organization helps to create a motivation that helps the employee to work hard and feel committed towards the organization. The organization has a flexible structure because of which employee feel comfortable to work for long hours within the organization. Incentive system varies from work to job. It has culture of company fun culture. They have regularly parties, weakenedgateways and social get together. This is helpful in creating a family culture in the organization. Employees get well with each other and the conflicts within the organization are less. This helps in creating a better relationship between the company and the employees.
This culture has been created with the period of time. Virgin group is like family who have common value and culture. This helps in better communication and coordination in between the employees. This helps in faster decision making within the organization. The values and the culture havestrengthened over the period of time. Since the size of the company is very large more efforts are required to build such kind of culture. Virgin group founder always belief that the employees should be treated with respect. The same is followed by the employees for their subordinates. The give a free environment to the employee as a result they work with free mind. It works in a culture that motivates the employees to work hard and feel committed towards the organization. Virgin group believes in taking new opportunities. It believes in risk taking but the decision which they have taken been always fruitful. The do full research and then take the decision. They took right decision at right time. This is the reason for the success of the organization.
Most of the people assume that the Virgin Group is a multinational company however it is not the case. As almost all the 300 companies which are under Virgin group are operating separately and they have their own employees, departments, assets and services. Thus, the role of marketing, Human Resource, Customer service and finance department is specific to each of the companies. All these departments are interlinked and are working towards serving the end customer. Human resource department is de-centralized in Virgin group however the direction to each individual unit is to ensures the key people are onboarded in the companies who work towards vision and mission of the group. Marketing department plays a vital role as unlike the usual belief the virgin group companies does not have a huge budget for marketing activities and their sole objective is to target the right audience to maximize the result.
There are internal and external factors which impacts the organizations and the companies must develop strategies around them to be successful. The macro environment are the external factors which impact the organization and have a great influence on the strategies and their decisions. There are mainly six main macro environment factors which impact the companies be it positively or negatively. And there are various strategic tools to assist the organizations to understand their impacts better such as PEST, PESTLE, SWOT and Porter’s Five forces.PESTLE analysis is an analysis of an organization with regards to political, economic, social, technological, legal and environmental. The PESTLE analysis helps in evaluation of different areas which surrounds the business and how they will impact the business and its operations. PESTLE analysis is related to the interpretation of the external factors of the organization. PESTLE analysis can be used for the analysis of entire industry as well. This analysis has been used efficiently to determine the various opportunities which can be use of the organization also it helps to ascertain the risks and external forces which the organization can come across.
Overall, it can be said that the success of Virgin group is also dependent on how well they are able to react on all the factors under PESTLE and thus that will also allow them to further expand their operations in new countries and also enter into new product lines depending upon needs of a particular country. As in their respective fields they want to be the first choice of their customers thus they need to be very agile to adapt themselves on these factors and give services to their clients based on that. Richard Branson the key stakeholder of the company has lot of ideas and good hold on the markets around the world and surely as a leader he keeps a close watch on these factors (Williams, 2017). For every business new or existing the PESTLE analysis is carried out and then they ascertain the opportunities and threats which the company may face in the existing and new markets.
It is detail analysis of the organization which tells its strength, weakness, opportunities and threats. It helps in business competitive planning of the strategies. It basically highlights the objective that the organization can cover in the coming period. When we write strength and weakness they are internally related to the organization and threats and opportunity are externally related to the organization. Strength of the organization is the advantages that the organization has. Weaknesses are the disadvantages present within the organization. Opportunities are the advantages that the organization can explore in the external environment and threats are the disadvantages present in the external environment for the organization. This report does a detail SWOT analysis for the Virgin group.
Virgin Group has managed to grow their ventures into many parts of the world and also been able to increase their size of operations in the markets. Over the last fifteen years the company has entered into many ventures and developed new products matching to the needs of the consumers who are based out of many countries. Virgin has become a very big brand name and is known for their services to the customers that have ensured the name of the company remains at top spot in future as well. Further the structure of their organization and working culture has also helped virgin group to achieve these milestones and their targets. Their employees are far more motivated and stick to the organization due to their work culture. Motivated work force has also helped them to deliver very high standards of customer satisfaction. The effective leadership skills and application of management theories has also helped Richard Branson to achieve such success with many businesses in a short period of time. The Virgin group has been very successful in growing themselves in competitive industry landscape. The Virgin group also operates in multiple types of environments which are impacted by economic situations, cultural factors, local laws etc. and has to perform considering all of them. As the group companies are working into different fields thus the impact of these environmental forces is different on all of them and is there on different markets as well.
Number of pages: 10
Academic level: Undergraduate/College
524501 DownloadsView or Download
Number of pages: 8
Academic level: High school
160366 DownloadsView or Download
Number of pages: 7
Academic level: Post Graduate/University
159231 DownloadsView or Download
Number of pages: 19
Academic level: Ph.D./Doctorate
148801 DownloadsView or Download
Get all these features for £121 FREEProceed to Order
Request a Callback We will call you on the specified preferred time
It’s time to turn to our experts for assignment writing service.