DOCSLIB.ORG

Cases to Accompany Contemporary Strategy Analysis

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Cases to Accompany Contemporary Strategy Analysis CASES TO ACCOMPANY CONTEMPORARY STRATEGY ANALYSIS NINTH EDITION Copyright © 2016 John Wiley & Sons, Inc. Case 1 Tough Mudder Inc.: The Business of Mud Runs Really tough. But really fun. When I got back to the office on Monday morning, I looked at my colleagues and thought: “And what did you do over the weekend?” —TOUGH MUDDER PARTICIPANT Tough Mudder Inc. is a Brooklyn-based company that hosts endurance obstacle events—a rapidly growing sport also known as “mud runs.” During 2015, about 600,000 participants will each pay between $180 and $260 to tackle a 10- to 12-mile Tough Mudder course featuring 15 to 20 challenging obstacles. The obstacles include wading through a dumpster filled with ice (the “Arctic Enema”), crawling through a series of pipes part-filled with mud (“Boa Constrictor”), and dashing through live wires carrying up to 10,000 volts (“Electroshock Therapy”). The 2015 schedule com- prises 46 two-day Tough Mudder events (a separate run on each day) in the US, Canada, the UK, Ireland, Germany, and Australia. Tough Mudder’s website describes the experience as follows: Tough Mudder events are team-based obstacle course challenges designed to test your all around strength, stamina and mental grit, while encouraging teamwork and camaraderie. With the most innovative courses and obstacles, over two million inspiring participants worldwide to date, and more than $8.7 million raised for the Wounded Warrior Project by US participants, Tough Mudder is the premier adven- ture challenge series in the world. But Tough Mudder is more than an event; it’s a way of thinking. By running a Tough Mudder challenge, you’ll unlock a true sense of accomplishment, have a great time and discover a camaraderie with your fellow participants that’s experienced all too rarely these days.1 Tough Mudder was founded in 2010 by former British school pals Will Dean and Guy Livingston. While a Harvard MBA student, Dean entered Harvard Business School’s annual business plan competition using Tough Guy, a UK obstacle race based upon British Special Forces training, as the basis for his plan.2 On graduat- ing from Harvard, Dean and Livingstone launched their first Tough Mudder event. On May 21, 2010 at Bear Creek ski resort, Pennsylvania 4,500 participants battled through a grueling 10-mile course. This case was prepared by Robert M. Grant. ©2015 Robert M. Grant. Copyright © 2016 John Wiley & Sons, Inc. 436 CASES TO ACCOMPANY CONTEMPORARY STRATEGY ANALYSIS The Market for Endurance Sports The origins of endurance sports can be traced to the introduction of the modern marathon race in 1896, the triathlon in the 1920s, orienteering in the 1930s, and the first Ironman triathlon in 1974. In recent years, a number of new endurance sports have appeared, including: ● adventure races—off-road, triathlon-based events which typically include trekking/orienteering, mountain biking, and paddling; ● obstacle mud runs—cross-country running events with a variety of challeng- ing obstacles; ● novelty events—fun events such as 5K races in which competitors are doused in paint (Color Run), running with real bulls (Great Bull Run), and food fights (Tomato Royale). Tough Mudder used several strategic variables to map the market and position the different products (Figure 1). Obstacle mud runs were initiated in the UK in 1987 with the annual Tough Guy race organized by ex-British soldier Billy Wilson (which provided the inspiration for Tough Mudder). In the US, Warrior Dash launched in July 2009, followed by Tough Mudder and Spartan Races in May 2010. A flood of new entries followed. During 2011–2013, new entrants included: Mud Mingle, Play Dirty Adventure Runs, Dirty Girl, Mudslayers, Gritty Goddess Runs, Alpha Warrior, Big Nasty Mud Run, Survival Race, Udder Mud Run, Fugitive Mud Run, Hot and Dirty Mud Run, and many more. During 2013, there were 3.4 million participants in US obstacle mud runs paying a total of $290.1 million.3 By comparison, triathlons attracted about two million participants in 2013. In 2013, close to 350 organizations offered obstacle mud runs. The surging popularity of mud runs pointed to the desire of the young (and not so young) to turn away from video screens and virtual experiences and test their physi- cal and mental limits in the Great Outdoors. FIGURE 1 The market for endurance sports Collaborative Unconventional Color Run Tough Mudder Tough Mudder Spartan Races Warrior Dash Low risk High risk Activity-led Brand-led event event Color Run Warrior Dash Ironman Spartan Races Marathons Marathons Ironman Competitive Traditional Source: Adapted from a presentation by Nick Horbaczewski to Strategic Planning Innovation Summit, New York, December 2013. Copyright © 2016 John Wiley & Sons, Inc. CASE 1 TOUGH MUDDER INC.: THE BUSINESS OF MUD RUns 437 TABLE 1 Tough Mudder’s leading competitors Spartan races Warrior Dash Founding Started by Joe De Sena in 2010 Red Frog Events LLC launched Great Urban Expanded overseas through Race in 2007, Warrior Dash in 2009, and franchising Firefly Music Festival in 2012 2015 events US: 108 mostly 1-day events US: 27 1-day events Overseas: 76 events in 26 countries Canada: 1 event (No overseas events after 2014) The product 3 types of race: Sprint (3 miles, 3- to 4-mile race with 12 obstacles 15 obstacles), Super (8 miles, 20 followed by post-race party (beer, bbq, obstacles), Beast (12 miles, 25 live music) obstacles) Sponsors Reebok, Clif Bar, Paleo Ranch Jerky, Shock Top Brewing, Vibram, Anytime Bodybuilding.com, PursuitRx Fitness, Gold Bond, Rockin’ Refuel The psychology of mud runs (and other endurance sports) is complex. The satisfaction participants derive from overcoming their perceived physical and men- tal limits combines with identification with warrior role models and the nourishing of camaraderie. The New York Times referred to the “Walter Mitty weekend-warrior complex,” noting that, while the events draw endurance athletes and military veter- ans, “the muddiest, most avid, most agro participants hail from Wall Street.”4 A psy- chologist pointed to the potential for “misattributed arousal”: the tendency among couples participating in endurance events to attribute increased blood pressure, heart rate, and sensory alertness to their emotional relationship with their partner. Bottom line: “Want your boyfriend or girlfriend to feel intense feelings of love and desire for you? Put yourselves through a grueling, 12-mile obstacle course!”5 During 2013–2015, the mud run industry experienced a shake-out as many weaker organizers were unable to attract sufficient participants to cover their costs. At the same time new entry continued—new obstacle race series were launched by BattleFrog in the US and Swedish-based Nexthand’s “Toughest” obstacle races in Scandinavia and the UK. By 2015, the industry leaders were Tough Mudder, Spartan Races, and Warrior Dash (Table 1). Growing the Company, Building the Brand Tough Mudder’s strategic priority was to establish leadership within an increasingly crowded market. How to position Tough Mudder in relation both to other endur- ance sports and to other obstacle runs was the critical strategic issue for CEO Will Dean. Dean believed that compared to traditional endurance sports—such as mara- thons and triathlons—the key attributes of obstacle course races were that they pre- sented significant personal risk, of injury, hypothermia, or extreme exhaustion; they could be collaborative rather than competitive events; and they were more engaging by allowing a variety of experiences and challenges. However, combining the various attributes of the mud run experience— exhaustion, camaraderie, fun, and fear—was challenging in terms of product design. In trading off individual achievement against collaboration, Dean emphasized the collaborative dimension—Tough Mudder would be untimed and team-based; Copyright © 2016 John Wiley & Sons, Inc. 438 CASES TO ACCOMPANY CONTEMPORARY STRATEGY ANALYSIS the individual challenge would be to complete the course. A more complex chal- lenge was the need for Tough Mudder to present itself as formidable (“Probably the Toughest Event on the Planet”) while attracting a wide range of participants. Making it a team-based event and giving participants the option to bypass individual obstacles helped reconcile these conflicting objectives. Appealing to military-style principles of esprit de corps (“No Mudder left behind”) also helped reconcile this dilemma. This combination of personal challenge and team-based collaboration also encouraged participation from business enterprises and other organizations seeking to build trust, morale, and motivation among teams of employees. The principle of collaboration was not only within teams but extended across all participants. Before each Tough Mudder event, the participants gather at the start line to recite the Tough Mudder pledge: ● I understand that Tough Mudder is not a race but a challenge. ● I put teamwork and camaraderie before my course time. ● I do not whine—kids whine. ● I help my fellow Mudders complete the course. ● And I overcome all my fears. As psychologist Melanie Tannenbaum observes: “this pledge is setting a very powerful descriptive norm … a very powerful determinant of our behavior … More than anything else, though, there’s a little part of our brains that hasn’t quite left the ‘Peer Pressure’ halls of high school. We want to fit in, and we want to do what oth- ers are doing.”6 The spirit of unity and collaboration provides a central element of Tough Mudder’s marketing strategy. Tough Mudder has relied almost exclusively on Facebook for building its profile, encouraging participation, and building community among its participants. Its Facebook ads target specific locations, demographics, and “likes” such as ice hockey and other physical sports. Tough Mudder also makes heavy use of “sponsored stories,” which appear on users’ Facebook “news feeds” when their friends “Like” Tough Mudder. Most important, Facebook is the ideal media for Tough Mudder to exploit its greatest appeal to participants: the ability for them to proclaim their courage, endurance, and fighting spirit.
Load more

Recommended publications
  • Our Path Forward October 7, 2015
    Our Path Forward October 7, 2015 From our earliest days, The New York Times has committed itself to the idea that investing in the best journalism would ensure the loyalty of a large and discerning audience, which in turn would drive the revenue needed to support our ambitions. This virtuous circle reinforced itself for over 150 years. And at a time of unprecedented disruption in our industry, this strategy has proved to be one of the few successful models for quality journalism in the smartphone era, as well. This week we have been celebrating a remarkable achievement: The New York Times has surpassed one million digital subscribers. Our newspaper took more than a century to reach that milestone. Our website and apps raced past that number in less than five years. This accomplishment offers a powerful validation of the importance of The Times and the value of the work we produce. Not only do we enjoy unprecedented readership — a boast many publishers can make — there are more people paying for our content than at any other point in our history. The New York Times has 64 percent more subscribers than we did at the peak of print, and they can be found in nearly every country in the world. Our model — offering content and products worth paying for, despite all the free alternatives — serves us in many ways beyond just dollars. It aligns our business goals with our journalistic mission. It increases the impact of our journalism and the effectiveness of our advertising. It compels us to always put our readers at the center of everything we do.
    [Show full text]
  • Data Standards Manual Summary of Changes
    October 2019 Visa Public gfgfghfghdfghdfghdfghfghffgfghfghdfghfg This document is a supplement of the Visa Core Rules and Visa Product and Service Rules. In the event of any conflict between any content in this document, any document referenced herein, any exhibit to this document, or any communications concerning this document, and any content in the Visa Core Rules and Visa Product and Service Rules, the Visa Core Rules and Visa Product and Service Rules shall govern and control. Merchant Data Standards Manual Summary of Changes Visa Merchant Data Standards Manual – Summary of Changes for this Edition This is a global document and should be used by members in all Visa Regions. In this edition, details have been added to the descriptions of the following MCCs in order to facilitate easier merchant designation and classification: • MCC 5541 Service Stations with or without Ancillary Services has been updated to include all engine fuel types, not just automotive • MCC 5542 Automated Fuel Dispensers has been updated to include all engine fuel types, not just automotive • MCC 5812 Eating Places, Restaurants & 5814 Fast Food Restaurants have been updated to include greater detail in order to facilitate easier segmentation • MCC 5967 Direct Marketing – Inbound Telemarketing Merchants has been updated to include adult content • MCC 6540 Non-Financial Institutions – Stored Value Card Purchase/Load has been updated to clarify that it does not apply to Staged Digital Wallet Operators (SDWO) • MCC 8398 Charitable Social Service Organizations has
    [Show full text]
  • GE Commercial Finance Meeting
    Mike Neal GE Commercial Finance Overview Organized for faster growth and lower cost 90’s 2002 Today GE Commercial Consumer Commercial Infrastructure Industrial NBCU Healthcare MID -MARKET FINANCING Vendor Financial Finance Finance Commercial Commercial Services Commercial Dave Calhoun John Rice Bob Wright Equipment European Finance Bill Castell Structured Vice Chairman Vice Chairman Vice Chairman Vice Chairman Financing Equipment Finance Joe Hogan Finance Finance Sr. Vice President3 Dave Nissen Mike Neal Card Services Finance Group Healthcare Sr. Vice President Vice Chairman Global Finance Real – Aircraft Engines – Cons. & Ind’l. – Network – Diagnostic Consumer Estate – Energy – Plastics – Film Imaging – Oil & Gas – Silicones/Quartz – Stations – Biosciences Finance – Rail – Security – Ent. Cable – Clinical Sys. – Water – Sensing – TVPD – Info. Tech. –Europe –Capital Solutions Financial Equity GE Consumer – Energy Fin. – Fanuc – Sports/Olympics – Services Assurance Svcs. – Inspect Tech. – Parks – Aviation Fin. – Equip. Svcs. –Asia –Real Estate CONSUMER SPECIALIZED FINANCING 2002 Svcs. (GECAS) SPECIALIZED SERVICES GE Capital SPECIALTY INSURANCE –Americas –Corp. Fin. Svcs. SPECIALIZED SERVICES SPECIALTY INSURANCE Finance Employers Capital Reinsurance –Australia –Healthcare Markets Reinsurance Corporation Re-org Fin. Svcs. Global Process Mortgage –Insurance Solutions InsuranceInsurance GE Insurance Technology Rail Financial Services Services Guaranty Aviation Insurance Penske Truck Services Mod Space Leasing Fleet Trailer European Equipment
    [Show full text]
  • Challenges in Creating and Managing an Indo-International Joint Venture Brand
    Feature By Saurabh Uboweja Challenges in creating and managing an Indo-international joint venture brand a genuine impact on the market, it must survive and thrive for a When assessing future partnerships, it is worth minimum of five to seven years. Such short-lived JVs serve to erode considering some the biggest and most popular joint confidence and trust in the success of future JVs with the same or ventures between Indian and international brands, other partners. and the challenges that they have encountered The main reasons for this trend include trust and transparency issues, differences over the JV’s future course of action and management control, and unstable economic or regulatory environments. Interestingly, trust and transparency or decisions on the JV’s future can be managed if the JV defines its brand values and India is one of the largest and fastest-growing consumer and vision upfront. It is important to build a team that believes in the JV industrial markets in the world, so it is only natural that brand from the word go. It is equally important for the JV to stick to multinationals are interested in grabbing a piece of this pie as their its brand definition in times of adversity, in order to see it through. existing markets become saturated. Equally, Indian companies However, this is easier said than done, as the focus in a JV is usually want international capabilities and to consolidate their brand on business synergies as opposed to brand synergies. Branding is presence in their own country – something which could take years an emotional subject, whereas business is a practical one.
    [Show full text]
  • The New York Times Company Fourth-Quarter and Full-Year 2014 Earnings Conference Call February 3, 2015
    The New York Times Company Fourth-Quarter and Full-Year 2014 Earnings Conference Call February 3, 2015 Andrea Passalacqua Thank you, and welcome to The New York Times Company’s fourth-quarter and full-year 2014 earnings conference call. On the call today, we have: ▪ Mark Thompson, president and chief executive officer; ▪ Jim Follo, executive vice president and chief financial officer; and ▪ Meredith Kopit Levien, executive vice president of advertising. Before we begin, I would like to remind you that management will make forward-looking statements during the course of this call, and our actual results could differ materially. Some of the risks and uncertainties that could impact our business are included in our 2013 10-K. In addition, our presentation will include non-GAAP financial measures, and we have provided reconciliations to the most comparable GAAP measures in our earnings press release, which is available on our website at investors.nytco.com. With that, I will turn the call over to Mark Thompson. Mark Thompson Thanks Andrea and good morning everyone. Before I turn to the detail of Q4, I’d like to offer a few observations about 2014 as a whole. This was an encouraging year for The New York Times Company. We made enough progress with our digital revenues to more than offset the secular pressures on the print side of our business and deliver modest overall revenue growth. Especially pleasing was the progress on digital advertising. When I arrived at the Company just over two years ago, digital advertising was in decline. In 2014 we reversed that with digital ad growth in all four quarters, which became double-digit growth in the second half with a 19 percent year-over-year gain in the fourth quarter.
    [Show full text]
  • A World Record!
    TONight’s CONCERT LINE-UP OF SKID ROW EE 7 8 SWEET FRIDAY CYANIDE FR AUG. 7, 2015 ® STURGIS RIDER DAILY Fri 8/7 Sat 8/8 Sun 8/9 A WORLD RecORD! Doug Danger flies into history he undisputed DON’t Miss king of stunt Bob Hansen Award Recipients men? Sure, cer- Page 4 tain names might come to Rat’s Hole Winners mind at that phrase. But since Tyesterday, at 6:03 PM, the only Page 5 name people are mention- 5 Minutes with Michael Lichter ing is Doug Danger. Because that was the time on the clock Page 3 when Danger jumped 22 cars aboard Evel Knievel’s XR-750 Harley-Davidson, a stunt EAGLE 75 Knievel once attempted but Page 12 failed to complete. The feat took place in the amphitheater at the Sturgis STURGIS BUFFALo Chip’s Buffalo Chip as part of the Evel Knievel Thrill Show. Dan- WOLFMAN JACK STAGE ger, who has been performing motorcycle jumps for decades, TONIGHT was inspired by Knievel when he was young and got to know 7 PM ..................SWEET CYANIDE him later in life. Danger 8:30 PM .....................SKID ROW regarded this stunt not as way to best his hero but as a favor, 10:30 PM ...............DEF LEPPARD completing a task for a friend. Danger is fully cognizant of TOMORROW the potential peril of his cho- sen profession and he’s real- 7 PM ............................ NICNOS istic; he knows firsthand the flip side of a successful jump. 8:30 PM ............... ADELITAS WAY But he felt solid and confident 10:30 PM ..........................WAR Continued on Page 2 PAGE 2 STURGIS RIDER DAILY FRIDAY, AUG.
    [Show full text]
  • Tata Consumer Products
    Equity Research INDIA June 16, 2020 BSE Sensex: 33229 Tata Consumer Products ADD ICICI Securities Limited Maintain is the author and Annual Report Analysis Rs371 distributor of this report Story through key words = ‘The platform for better’, Regional, Digital transformation, Direct delivery to consumers and Change in consumer habits. Company Update We like TCPL’s strategy to (1) focus on regional launches to gain market shares as consumer preferences change in different states, (2) leverage Tata Sampann Consumer Staples & brand to launch food products such as nutrimixes/ chilla mix, poha, and pulses Discretionary based snacks and (3) invest in digital transformation from sourcing to distribution, (4) keep closer connect with consumers as the habits/ buying pattern Target price Rs415 are likely to change and (5) enable direct delivery of products through delivery providers and e-commerce partners. We stay believers; retain ADD rating with Earnings revision (%) FY21E FY22E SoTP based target price of Rs415. Sustained improvement in return ratios (EVA Revenues 0.0 0.0 positive) is integral for long-term value creation. EBITDA 0.0 0.0 ‘The platform for better’ strategy: The annual report speaks about ’The platform PAT ↓ 2.6 ↑ 2.1 for better’ strategy. The company wants to push boundaries in all business activities to improve product quality, productivity and contribution to the people and planet. Change in spotlight from National to Regional: TCPL came out with campaigns Shareholding pattern targeting each state separately in FY20. It changed the product packaging as well as Sep Dec Mar method of communication to connect with regional consumers. Key states targeted ‘19 ‘19 ‘20 Promoters 34.5 34.5 34.7 under this strategy were UP, Delhi, Punjab and Haryana.
    [Show full text]
  • The Evolution Issue
    $6.99 can winter 2014 FOR THE HARLEY-DAVIDSON® ENTHUSIAST SINCE 1916 canadian edition THE EVOLUTION ISSUE YOUR NEW H.O.G.® LOGO / HOW TO RIDE IN THE RAIN / RALLY RIDES / A CANUCK IN MILWAUKEE / PENINSULA OF PERFECTION / STORY BEHIND H-D® CHROME / A SIT DOWN WITH BILL DAVIDSON / ROUTE 66 Issue13cover.indd 1 11/5/13 3:23 PM INTRODUCING PROJECT RUSHMORE BUILT BY ALL OF US FOR ALL OF US Models Shown: Ultra Limited, Street Glide®, Road King®, Tri GlideTM Ultra and Electra Glide® Ultra Classic® With the purchase of any new Harley-Davidson® model from an authorized Canadian Harley-Davidson® Retailer, you will receive a free, full one-year membership in H.O.G.® Always ride with a helmet. Ride defensively. Distributed exclusively in Canada by Deeley Harley-Davidson® Canada, Richmond and Concord. Deeley Harley-Davidson® Canada is a proud sponsor of Muscular Dystrophy Canada. MY14_Model_Lineup_DPS_HOG_Mag_CA-en-fr.indd 2 11/11/2013 9:35:16 AM They came straight out of the streets, the freeways, biker bars, scenic overlooks, and rallies. They came straight out of 110 years in the saddle and countless long rides where the destination didn’t even matter. They came straight out of the dreams of thousands of riders. They came straight out of Milwaukee by way of every road on earth. And now they’re taking us places we’ve never been before. Introducing Project RUSHMORE and the next Harley-Davidson® motorcycles. Built by all of us, for all of us. UNITED BY INDEPENDENTS ©2013 H-D or its affiliates. H-D, Harley, Harley-Davidson and the bar & shield logo are among the trademarks of H-D U.S.A., LLC.
    [Show full text]
  • Business Update
    September - October 2012 | Issue 23 IN THIS ISSUE | New TSP Templates | Big Wins | Social Media Corner | Product Spotlights | New TSP Beijing Office | Toronto Tough Mudder | Strengthening Our Partnership with Defender Airport & Abu Dhabi Investment As I bid all of you farewell, I want Council, many secured by our to emphasize that our partnership Business CEM solutions. does not end on Nov 1. Bolster- Update • Our business’ successful step ing the relationship between Tyco into unchartered waters with Security Products and Tyco Inte- Kantech’s hattrix security grated Security is one of the most • Launching victor unified client services. Since its debut in important goals that I take with me, as the foundation for Tyco Secu- 2010, we have sold hundreds of and I know that Mike Ryan, your rity Products unification. I believe doors with that platform. new President, shares that goal more strongly than ever, that this with me. You can read a bit about product is a true game-changer • The exciting acquisition of Mike in the spotlight section of this in the industry. Visonic, which brought us the issue of Momentum, and I know industry’s most powerful wireless This issue of Momentum is a very • Thousands of shows and events you’ll be energized by the strong technology and Elpas’ real time special one. One that marks the where we’ve displayed our leadership he will provide to Tyco location systems, a wonderful exciting beginning of our new Tyco pride to hundreds of thousands Security Products. company, and one that also marks addition to our core technologies.
    [Show full text]
  • Virgin Mobile Holdings (Uk)
    A copy of this document, comprising listing particulars relating to Virgin Mobile Holdings (UK) plc (the Company) prepared solely in connection with the proposed offer to certain institutional and professional investors (the Global Offer) of ordinary shares (the Ordinary Shares) in the Company in accordance with the Listing Rules made under section 74 of the Financial Services and Markets Act 2000 (FSMA), has been delivered for registration to the Registrar of Companies in England and Wales pursuant to section 83 of FSMA. Application has been made to the UK Listing Authority for the ordinary share capital of Virgin Mobile Holdings (UK) plc to be admitted to the Official List of the UK Listing Authority and to the London Stock Exchange for such share capital to be admitted to trading on the London Stock Exchange’s market for listed securities. It is expected that admission to listing and trading will become effective and that unconditional dealings will commence at 8.00 a.m. on 26 July 2004. All dealings in Ordinary Shares prior to the commencement of unconditional dealings will be on a ‘‘when issued’’ basis and of no effect if Admission does not take place and will be at the sole risk of the parties concerned. The Directors of Virgin Mobile Holdings (UK) plc, whose names appear on page 8 of this document, accept responsibility for the information contained in this document. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this document is in accordance with the facts and does not omit anything likely to affect the import of such information.
    [Show full text]
  • 1 Virgin Care, Tax and the NHS Summary 1. Over Ten Years, Through
    Virgin Care, tax and the NHS Summary 1. Over ten years, through community and social care contracts worth more than £2bn, Virgin Care has become a major player in the NHS but has paid no corporation tax. This prompted Sir Vince Cable to say in 2018: “I would welcome further investigation by the Government of whether they are exploiting loopholes in order to avoid paying their full tax liability.” 2. Virgin Care’s explanation for paying no tax is that it has not made any profit, due to the costs of starting up and growing a new business; it reports an expectation of making a surplus in the future. 3. Virgin Care’s parent is Virgin UK Holdings Ltd, which is a subsidiary of Virgin Group Holdings Ltd, based in the British Virgin Islands, a tax haven, and whose sole shareholder is Sir Richard Branson. 4. Commenting on the structure of the Virgin group, a tax expert (Richard Murphy) commented: “Tax planning is at the very core of their activities. This is the wrong priority for companies working in the state-funded NHS, where the tax contribution everyone makes, including those who supply NHS services, is vital to the continuing health of the nation.” He went on to speculate that the company structure makes it unlikely that Virgin Care will pay any tax in the UK in the foreseeable future. 5. Richard Branson claims he is helping the NHS and saving it and local authorities millions of pounds after having been invited in by New Labour. However, evidence indicates that in general, privatisation of services increases costs and lowers standards while destabilising the NHS.
    [Show full text]
  • Annual Report 2012-13
    ANNUAL REPORT 2012-13 MYSO 2012-13 ANNUAL REPORT | 3 Message from Patrick Rath, Chair, Board of Directors Since 1958, your contributions have range from $1,000 to more than enabled Milwaukee Youth Symphony $5,000 annually, depending on the Orchestra to inspire, educate and student’s level. shape young lives through the power of music and ensemble training. Reflective of this success, we believe From a handful of 30 musicians that the overall growth of our at its beginning, MYSO currently Community Partnership Programs, as serves nearly 1,000 students from well as MYSO’s nationally recognized 14 counties, 60 cities and over 200 ensemble training programs, are schools throughout Southeastern indeed very strong. I would like Wisconsin and northern Illinois. to acknowledge and thank Fran Richman, whose dedication and It is heartening to know that support vision led MYSO for 24 years and for MYSO programming remains a created a legacy of financial stability priority in the community. In fact, to ensure MYSO’s long-term success. MYSO completed its Fran’s Fund I would also like to thank the entire campaign in 2012 surpassing its $2 MYSO team and all of our students, million goal. families, volunteers and the greater community for a great year. Fran’s Fund, a non-endowment scholarship fund whose principal Milwaukee Youth Symphony and interest will support hundreds Orchestra implemented significant of underserved youth primarily governance changes in 2012- from the City of Milwaukee as they 13 to expand its organizational move through MYSO programs, capacity and awareness throughout was launched in 2008 with a the community.
    [Show full text]