DOCSLIB.ORG

Richard Branson, Virgin Group CEO

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Richard Branson, Virgin Group CEO NEWSLETTER JUNE 2016 BREAKING MOULDS “It’s a great idea to work with your loved ones” Richard Branson, Virgin Group CEO “Although the Virgin brand has expanded into many sectors and dozens of countries, we have always remained a family business. This is where we get our strength, purpose and focus.” These words from one of the world’s best known entrepreneurs may come as a surprise to some, mainly because the space travel and music industries are not traditionally linked to family businesses. But Branson’s words do define the motivation, ideas and values that underpin the businesses he has created and steered over the last five decades. What began as an on-demand record sales company back in the late sixties has evolved into a group of more than 200 companies in over 30 countries. Throughout this period characterised by countless dramatic and unexpected twists, he has expanded his businesses to include a train company, a luxury game reserve, a mobile phone company and a space-tourism company, Virgin Galactic. “If you rent it to me, I’ll open a record shop and crowds of young people will pass by your shop. Many of them will need shoes.” This was the argument that convinced the owner of the premises that caught the young Richard Branson’s eye while searching for somewhere to set up his first record shop. The owner of the premises was also the owner of the shoe shop next door. Branson managed to rent the shop just as he was “The best way to disrupt successful in most of his future challenges by markets is to draw on values being bold and smart and, above all, having a from the family business powerful, contagious vision. Ever since Virgin model” Records was established, first in the UK and shortly afterwards globally, it has been synonym of disruption to inflexible market rules. The entire business was underpinned by Branson: a unique, risk-taking entrepreneur constantly pushing back limits and expanding horizons. He is unlike the traditional head of a family business but proudly emphasises the strong family culture of his company. This is where he finds the “strength, purpose and focus” to carry on. But he also regards it as a powerful source of inspiration because, as he said recently, “the best way to disrupt markets is to draw on values from the family business model.” Turning challenges into opportunities The many exploits in his colourful biography range from signing the Sex Pistols, Janet Jackson, the Rolling Stones, Boy George and Phil Collins; to fighting the British Airways attempt to take over Virgin Atlantic and successfully suing that pillar of the British business establishment; swimming two miles to safety during a violent storm off the coast of Mexico; losing control of a Zeppelin whilst trying to cross the North Pacific; and staging a rescue flight into Baghdad before the start of the Gulf War, to name but a few. The dyslexia that marked Branson’s childhood caused him to have a hard time at school and finally he dropped out at the age of 16. Following this he moved to London where his hard work, bold spirit and fresh ideas enabled him to expand his business enterprises to include the Voyager Group travel company in 1980, the Virgin Atlantic airline in 1984, and a string of Virgin Megastores. NEWSLETTER JUNE 2016 The biggest challenge of his career was possibly “Most people spend more time when he had to sell the company in 1992. But he with their colleagues than soon bounced back with new projects in the anyone else, so it’s a great music industry. In addition, he is constantly idea to work with your loved pushing back boundaries and the last in a long ones” list of challenges happened in March this year when he announced a jet able to fly from London to New York in around 3 hours 20 minutes, before the year 2020. Taken in a wider perspective, this challenge offers solace and satisfaction to the man forced to take the toughest decision of his career in the early 90s: the sale of Virgin Records to save Virgin Atlantic. Richard Branson has certainly been a role model for many young entrepreneurs and in 1999 the British Crown acknowledged his contribution to entrepreneurship with a knighthood. His success was partly due to his ability to create and manage strong and committed teams. “Most people spend more time with their colleagues than anyone else, so it’s a great idea to work with your loved ones”, Branson said recently. Despite the ups and downs since he sold Virgin Records all those years ago, he has managed to maintain the innocence reflected in the company’s name. Above all, he has been a leading light for many entrepreneurs as revealed by the inspiring words he wrote in My letter to 25 year-old me: “By turning challenges into opportunities, you will find success you never realized you were capable of achieving. But you won’t always succeed. In fact, you will fail time and time again. That’s ok though, because failure is an inevitable part of every personal and entrepreneurial journey. It’s important to pick yourself up, retrace your steps, look at what went wrong, and learn from your mistakes.” Boris Matijas, co-editor FAMILY BUSINESS TRANSFORMATION .
Load more

Recommended publications
  • Universal Music Australia Pty Ltd V Sharman Networks Ltd [2006] FCAFC 41 (23 March 2006)
    Universal Music Australia Pty Ltd v Sharman Networks Ltd [2006] FCAFC 41 (23 March 2006) Last Updated: 23 March 2006 FEDERAL COURT OF AUSTRALIA Universal Music Australia Pty Ltd v Sharman Networks Ltd [2006] FCAFC 41 CONTEMPT OF COURT – question of law referred by primary judge to Full Court – question whether, ‘having regard to nature and terms of’ order alleged to have been disobeyed, a determination of contempt may be made in respect of the contraventions alleged in the statement of charge – order the subject of pending appeal – order must be obeyed until set aside – different possible meanings of ‘equivocal’ and ‘ambiguous’ in relation to orders in earlier cases on contempt – discussion of orders whose meaning is obscure as a matter of construction of their terms, and orders shown to be uncertain or ambiguous in their operation in the context of the facts proved by the evidence – referred question answered, Yes. Federal Court of Australia Act 1976 (Cth) s 25(6) Federal Court Rules O 37 r 2 Australian Consolidated Press Ltd v Morgan (1965) 112 CLR 483 considered Coflexip SA v Stolt Comex Seaway MS Ltd [1999] FSR 473 cited Commodore Business Machines Pty Ltd v Trade Practices Commission (1990) 92 ALR 563 cited Commonwealth Industrial Gases Ltd v M.W.A. Holdings Pty Ltd (1970) 180 CLR 160 cited Iberian Trust Ltd v Founders Trust and Investment Co [1932] 2 KB 87 considered ICI Australia Operations Pty Limited v Trade Practices Commission (1992) 38 FCR 248 referred to Interlego A.G. v Toltoys Pty Ltd (1973) 130 CLR 461 cited Johnson v Walton
    [Show full text]
  • Who's Who in A&R at Virgin Records
    WHO'S WHO IN A&R AT VIRGIN RECORDS INTRODUCTION In examining Virgin Records as it relates to America, it must be noted that there are basically two operations, Virgin-United States and Virgin-International. The former is managed by Charles Dimont. The latter operation falls under the jurisdiction of Simon Draper and is based in London. Virgin-U.S., based in New York, is primarily a filter and servicing office for the larger International operation. Charles notes that the U.S. releases include approximately 20 acts, although International maintains some 30 groups. In discussing the composition of the roster and current trends, Charles emphasizes that, "we want to give the label shape and balance." He sees too many bands playing formula music whereas Virgin is seeking a different, original sound. Although the label is looking for such a balance, Dimont interjects that, "we would not feel comfortable signing an r&b act or a singer-songwriter." While International has some 4-5 reggae acts and an a&r executive to oversee that department, Dimont says that, "there is no indication as yet that reggae will happen in the U.S., 'New Wave' is in fashion," but he regards pop as a marketable and pro- grammable style. In terms of his own roster, Charles points out that, "our acts are not necessarily pro- grammable or sellable, but all are class — on the frontier of commerciality." In regard to unsolicited tapes, Dimont stresses that because there is no formal a&r situation in New York, they all listen. Virgin-U.S.
    [Show full text]
  • Case Fifteen
    AGFC15 16/12/2004 17:16 Page 120 case fifteen Richard Branson and the Virgin Group of Companies in 2004 TEACHING NOTE SYNOPSIS By 2004, Richard Branson’s business empire extended from airlines and railways to financial services and mobile telephone services. There was little evidence of any slow- ing up of the pace of new business startups. In the first 4 years of the new century, Virgin had founded a new airline in Australia; retail ventures in Singapore and Thailand; wireless telecom companies in Asia, the US, and Australia; and a wide variety of online retailing. While several of these new ventures had been very successful (the Australian airline Virgin Blue and Virgin Mobile in particular), the financial health of several other Virgin companies was looking precarious. Several of Branson’s startups had been financial disasters – Virgin Cola and Victory Corporation in par- ticular. Other more established members of the Virgin group (such as Virgin Rail and Virgin Atlantic) required substantial investment, while yielding disappointing operating earnings. While Branson’s enthusiasm for supporting new business ideas and launching companies that would challenge business orthodoxy and seek new approaches to meeting customer needs seemed to be undiminished, skeptics sug- gested that the Virgin brand had become overextended and that Branson was losing his golden touch. The case outlines the development of the Virgin group of companies from Branson’s first business venture and offers insight into the nature of Branson’s leadership, the This note was prepared by Robert M. Grant. 120 AGFC15 16/12/2004 17:16 Page 121 RICHARD BRANSON AND THE VIRGIN GROUP OF COMPANIES IN 2004 121 management principles upon which the Virgin companies are launched and operated, and the way in which the group is run.
    [Show full text]
  • Scientific Journal of Business & Innovation
    Volume 1 Issue 1 · January–June 2021 Scientific Journal of Business & Innovation ISSN 2749-6899 iii Table of Contents Editor-in-Chief iv Editorial Prof. Dr. Kyriakos Kouveliotis v Journal Information vi About BSBI Associate Editors 01 Commercial Importanceof a Freshwater Dr. Elham Shirvani Prawn, Macrobrachium Lamarrei: Dr. Maryam Mansuri a Case Study in Its Food Security Aspects 05 Sentiment Analysis of YouTube Video Honorary Senior Advisory Editor Comments Using Big Data: Prof. Dr. Emidia Vagnoni, Helping a Video Go Viral University of Ferrara Italy 09 Embodied Cognition and Subject Roles in the History of Philosophy Editorial Board 13 Relationship Between Investments Prof. Dr. Kyriakos Kouveliotis in Intellectual Capital and Financial Dr. Anastasios Fountis Performance: Evidence from Serbian Hotel Dr. Elham Shirvani Industry 2013–2017 Dr. Maryam Mansuri 21 Direction in Global Market Coping Dr. Anastasia Alevriadou Strategies: Virgin Airlines Case Study Dr. Milos Petkovic 31 A Case Study on Successful Implementation Dr. (MD) Ahmed ElBarawi of Ethics and Responsible Business Dr. Moumita Mukherjee Policies at a Corporate Level Dr. Desislava Valerieva Dimitrova 35 The Status of Sustainable Health Dr. Vivek Arunachalam Governance and Future Role of Eco-Tourism Dr. Christos Lemonakis Model for Eradicating Ex-Ante Child Health Dr. Marios Menexiadis Poverty in Riverine West Bengal, India Dr. Chaditsa Poulatova 43 Will Dexit Follow the Brexit and the Ms. Mina Shokri Consequences of the German Economy Ms. Katherine Boxall and European Union Mr. Anuj Batta 47 PR Watches — Innovative Solution Ms. Zoi Kerou in Alzheimer’s Care Mr. Konstantinos Skamagkas 51 Digital Marketing Campaign for Adidas Ms. Kathrin Bremer to Increase Customer Lifetime Value Ms.
    [Show full text]
  • VIRGIN RECORDS AMERICA, INC., Et Al., Plaintiffs, V
    VIRGIN RECORDS AMERICA, INC., et al., Plaintiffs, v. JOHN DOES 1-35, Defendants. Civil Action No. 05-1918 (CKK) UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA 2006 U.S. Dist. LEXIS 20652 April 18, 2006, Decided April 18, 2006, Filed COUNSEL: [*1] VIRGIN RECORDS AMERICA INC., ARISTA RECORDS LLC, CAPITOL RECORDS INC, SONY BMG MUSIC ENTERTAINMENT, ATLANTIC RECORDING CORPORATION, BMG MUSIC, WARNER BROS. RECORDS INC., PRIORITY RECORDS LLC, UMG RECORDINGS INC, ELEKTRA ENTERTAINMENT GROUP INC., MOTOWN RECORD COMPANY, L.P., FONOVISA, INC., INTERSCOPE RECORDS, LOUD RECORDS LLC, MAVERICK RECORDING COMPANY, LONDON-SIRE RECORDS INC., Plaintiffs: Matthew Jan Oppenheim, Potomac, MD. JUDGES: COLLEEN KOLLAR-KOTELLY, United States District Judge. OPINIONBY: COLLEEN KOLLAR-KOTELLY OPINION: MEMORANDUM OPINION Plaintiffs Virgin Records America, Inc.; Arista Records LLC; Capitol Records, Inc.; Sony BMG Music Entertainment; Atlantic Recording Corporation; BMG Music; Warner Bros. Records Inc.; Priority Records LLC; UMG Recordings, Inc.; Elektra Entertainment Group, Inc.; Motown Record Company, L. P.; Fonovisa, Inc.; Interscope Records; Loud Records, LLC; Maverick Recording Company; and London-Sire Records Inc. (collectively, "Plaintiffs") brought this action alleging copyright infringement against John Doe Defendants #1-35 arising out of internet file sharing of digital sound recordings on September 29, 2005. Currently before the Court is Defendant Doe #18's [*2] Motion to Quash the subpoena issued to Defendant's ISP, Verizon, regarding Defendant's IP address, 162.84.109.12, on the grounds that this Court lacks personal jurisdiction over Defendant, who is a resident of Fredericksburg, Virginia, with allegedly little or no contact with the District of Columbia. See Def.'s Mot.
    [Show full text]
  • Jo Girard Juillet 2007 2041
    Année Ville Source Diffusion Frequence Titre Archive Contenu Date Diffusion 1896? Archive N/A Extrait marconi 1924 Archive N/A Broadcasting tests PP Eckersley: re-recording 14/05/24 1924 Archive N/A Open speech by King-George V 1928 Archive N/A Allocution-Charles Lindbergh 11/04/28 1929 Archive N/A Radio Hongroise en 1929 1930's Archive N/A Radio Normandie programme en anglais 1933 Archive N/A Annonce horloge "19h58mn40sec…" 1933 Archive N/A Discours Hitler aux sa et ss 30/01/33 1935 Bruxelles RTBF Funérailles de la reine Astrid 1935 Londres BBC Round London at night, quaint introduction to a program on London by Robert Dougall 14/12/35 1935 Londres BBC The Great Family, Christmas message The Great Family, (25.12.35) 25/12/35 Christmas message. 1935 Guglielmo-Marconi 6/12/35 1936 Londres BBC Death of King Georges V announcement by the then Dir of the BBC John Reith 20/01/36 1936 Paris Radio Cité Identification de la station 1937 Londres(?) A rechercher Extract One, Thomas Woodrooffe was drunk when he did this commentary at the Spit head royal naval 20/05/37 review 1937 Paris Radio Cité Carillon de Radio Cité 1939 Radio Meditérranée je reçois bien volontiers les vœux de Radio Méditerranée… Edouard Branly "je reçois bien volontiers les vœux de Radio Méditerranée…" 1939 Archive N/A Annonce début 2eme guerre mondiale. 1939 Archive N/A Appel radio US crise polonaise août-39 1939 Archive N/A Interview Abbé Joseph Bovet 1939 Archive N/A Reportage de F Poulin La descente des Alpes à Hauteville 1939 Archive N/A NewsWar39: Soviet Clean mono 1940 Archive N/A Benito Mussolini Discours public.
    [Show full text]
  • The Emporium Strikes Back | the Economist
    The emporium strikes back | The Economist http://www.economist.com/node/21581755/print Shopping The emporium strikes back Retailers in the rich world are suffering as people buy more things online. But they are finding ways to adapt Jul 13th 2013 | From the print edition “THE staff at Jessops would like to thank you for shopping with Amazon.” With that parting shot plastered to the front door of one of its shops, a company that had been selling cameras in Britain for 78 years shut down in January. The bitter note sums up the mood of many who work on high streets and in shopping centres (malls) across Europe and America. As sales migrate to Amazon and other online vendors, shop after shop is closing down, chain after chain is cutting back. Borders, a chain of American bookshops, is gone. So is Comet, a British white-goods and electronics retailer. Virgin Megastores have vanished from France, Tower Records from America. In just two weeks in June and July, five retail chains with a total turnover of £600m ($900m) failed in Britain. Watching the destruction, it is tempting to conclude that shops are to shopping what typewriters are to writing: an old technology doomed by a better successor. Seattle-based Amazon, nearing its 19th birthday, has lower costs than the vast majority of bricks- and-mortar retailers. However many shops, of whatever remarkable hypersize, a company builds in the attempt to offer vast choice at low prices, the internet is vaster and cheaper. Prosperous Londoners and New Yorkers ask themselves when was the last time they went shopping; their shopping comes to them.
    [Show full text]
  • Payout Gives Airbus a Soft Landing BUSINESS COMMENTARY
    Payout gives Airbus a soft landing BUSINESS COMMENTARY By Alistair Osborne Wednesday January 29 2020, 12.01am How time flies at Airbus. It wasn’t so long ago that it had to bribe people to buy its planes — allegedly, anyway. Why do that nowadays? It can rely on a nice persuasive sales pitch from the staff. Yes, those at rival Boeing: the go-to place, apparently, for aircraft “designed by clowns who are in turn supervised by monkeys”. Naturally, Boeing’s horrors with the grounded 737 Max have added a bit of thrust to Airbus. Last year, it retook the top spot for aircraft deliveries for the first time in eight years: 863 versus 380 for Boeing, the US business reeling from two deadly Max crashes killing 346 people. But that doesn’t mean it’s all been cruise control for Airbus, as proved by its jumbo deal with three fraudbusters. Airbus has agreed to settle with the Serious Fraud Office, its French counterpart and US regulators after “investigations into allegations of bribery and corruption” that began in 2016. There’s no admission of guilt, but a €3.6 billion bill is a handy guide to the wide-bodied charge sheet that the European plane maker has opted not to fight. True, it’s hardly the first aerospace outfit to get nicked for alleged kickbacks to iffy middlemen. BAE Systems and Rolls-Royce have been here before. Rolls was one of the first to cough up under the SFO’s deferred prosecution agreement regime, paying £497 million in 2017. It’ll also be a DPA for Airbus: probably a record one, too, and all the more painful for having tipped off the SFO in the first place.
    [Show full text]
  • Virgin Galactic Announces Third Quarter 2020 Financial Results First
    Virgin Galactic Announces Third Quarter 2020 Financial Results First Spaceflight from Spaceport America Expected to Occur Between November 19-23 Rollout of Second Spaceship Scheduled to Take Place in the First Quarter of 2021 Reopening Ticket Sales in 2021 Following Sir Richard Branson’s Spaceflight LAS CRUCES, N.M. – November 5, 2020 – Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic” or the “Company”), a vertically integrated aerospace and space travel company, today announced its financial results for the third quarter ended September 30, 2020. “During the quarter we made good progress completing the final steps to prepare for VSS Unity’s first rocket powered test flight from Spaceport America this November. This will be the first-ever human spaceflight conducted from New Mexico,” said Michael Colglazier, Chief Executive Officer of Virgin Galactic. “We also made meaningful progress on our second SpaceShipTwo vehicle, which we plan to unveil in the first quarter of 2021. During my first three months at the Company, I have been continually impressed with the team and the tremendous work that has gone into making the dream of commercial spaceflight a reality. As we continue to prepare for commercial launch, we will reopen ticket sales following Richard Branson’s flight in 2021. I am excited and confident in our ability to execute our vision and provide transformative experiences to people around the world.” Third Quarter 2020 Business Highlights: • Completed the application of the thermal protection system on the Wing and Fuselage, progressed on systems installation, and successfully completed the initial Pilot Simulator evaluations of the second SpaceShipTwo vehicle, in preparation for its expected rollout in the first quarter of 2021.
    [Show full text]
  • IN the UNITED STATES DISTRICT COURT for the MIDDLE DISTRICT of NORTH CAROLINA GREENSBORO DIVISION Case No.: 1:06-Cv-00948-JAB-PTS
    IN THE UNITED STATES DISTRICT COURT FOR THE MIDDLE DISTRICT OF NORTH CAROLINA GREENSBORO DIVISION Case No.: 1:06-cv-00948-JAB-PTS ELEKTRA ENTERTAINMENT GROUP INC., ) a Delaware corporation; VIRGIN RECORDS ) AMERICA, INC., a California corporation; ) ARISTA RECORDS LLC, a Delaware limited ) liability company; BMG MUSIC, a New York ) general partnership; ATLANTIC RECORDING ) CORPORATION, a Delaware corporation; ) SONY BMG MUSIC ENTERTAINMENT, a ) Delaware general partnership; and ) INTERSCOPE RECORDS, a California general ) partnership, ) ) Plaintiffs, ) ) v. ) ) HARRISON HAYES, ) ) Defendant. ) DEFAULT JUDGMENT AND PERMANENT INJUNCTION Based upon Plaintiffs' Motion For Default Judgment, and good cause appearing therefore, it is hereby Ordered and Adjudged that: 1. Plaintiffs seek the minimum statutory damages of $750 per infringed work, as authorized under the Copyright Act (17 U.S.C. § 504(c)(1)), for each of the eleven sound recordings listed in Exhibit A to the Complaint. Accordingly, having been judged to be in default, Defendant shall pay damages to Plaintiffs for infringement of Plaintiffs' copyrights in the 1 Case 1:06-cv-00948-JAB-PTS Document 13 Filed 03/12/07 Page 1 of 4 sound recordings listed in Exhibit A to the Complaint, in the total principal sum of Eight Thousand Two Hundred Fifty Dollars ($8,250.00). 2. Defendant shall further pay Plaintiffs' costs of suit herein in the amount of Five Hundred Fifty Dollars ($550.00). 3. Defendant shall be and hereby is enjoined from directly or indirectly infringing Plaintiffs' rights
    [Show full text]
  • A City "... Waiting for the Sunrise " : Toronto in Song and Sound*
    A City "... Waiting for the Sunrise " : Toronto in Song and Sound* Michael J. Doucet Abstract: One aspect of urban culture is examined to evaluate Toronto's position within the urban hierarchy, namely, the production of songs and sounds about the city. Although much music has been performed and created in Toronto over the years, and many songs have been urritten about a variety of features of life in the city, the musical images of Toronto remain largely unknown beyond its borders—even to many of the city's own residents. If Toronto is a "world-class city," the evidence for such a claim would have to be found on other dimensions than the one explored here. No one ever wrote / A single note / About Toronto. — Johnny Wayne and Frank Shuster (19%) I find that lately, I'm missing old Toronto, Where bass is strong and drums are full of fire. — from the Lenny Breau song "New York City" (1987) No nation can exist by the balance sheet alone. Stories, song, dance, music, art and the rest are the lifeblood of a country, the cultural images defining a people just as surely as their geography and the gross national product. — Robert Lewis, editor of Maclean's (19%) Interestingly, though, we don't seem to have an immediately identifiable style. The last time anyone spoke about a 'Toronto Sound' [former Mayor] Alan Lamport was booting hippies out of Yorkville. Unlike a Nashville or Manchester, there isn't any one thing that makes you say 'That's Toronto' -- Bob Mackowycz, writer and broadcaster (1991) Toronto itself doesn't have a distinctive civic culture.
    [Show full text]
  • Catalyst+Brochure.Pdf
    ABOUT US Catalyst is a premium lifestyle accessories brand that creates innovative consumer products to enable people to explore and share their world. Josh Wright is an award-winning industrial designer who graduated from the Art Center College of Design and June Lai is the research, development and business partner at Catalyst. Together, after seeing a need for a product that fit their needs but did not yet exist, they designed and developed an iPhone case that would protect their products through their many outdoor and underwater adventures. Since Catalyst’s inception, the brand launched on Kickstarter in 2011 and introduced the highest performance line of everyday cases, accessories and sleeves featuring their own proprietary technology. Catalyst products are available in major international retailers, including Best Buy, Target, West Marine, Bic Camera, Yodobashi, JB HiFi, Harvey Norman, Virgin Megastores, Media Markt, Fnac, Elkjop, and Colette. © 2016 Catalyst Lifestyle Limited. All rights reserved. JOIN THE ADVENTURE “Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” – Mark Twain © 2016 Catalyst Lifestyle Limited. All rights reserved. Introducing the only fully functional waterproof case for Apple Catalyst Case for Apple Watch 42mm Watch rated to 5 atm. This award-winning case does not compromise on good looks or performance. Each unit is factory tested waterproof to a pressure equivalent to a depth of 165 ft (50m), making this innovative case the essential accessory that allows you to take your Apple Watch with you everywhere.
    [Show full text]