Richard Branson Virgin
Richard Branson Virgin Group. Richard Branson is without doubt one of the world’s most daring and creative entrepreneurs. Through a process he calls ‘organic expansion’, Branson has entered more than 100 different businesses, many of which incorporate his virgin trademark.
Branson’s Virgin Management Group
Major businesses include Virgin Atlantic Airways, Virgin Hotels Group, Virgin Megastores, Virgin Galactic Airways, publishing, television, radio, bridal wear and even modeling. His ownership of these companies was nothing short of complex, with family trusts based in the Channel Islands, holding companies in the British Virgin Islands and sub-holding companies in the UK.
Richard Branson’s Virgin Atlantic
Virgin Atlantic was another Virgin business innovation. It radically changed the transatlantic passenger’s experience by providing a variety of extras: more legroom, seat-back video screens, and for business class passengers: free neck massages, manicures, kazoo instructors, face painters to entertain the children. Not only did the passengers enjoy these extras, they also paid less of half of what they paid British Airways for first class service.
Motivating his employees
Branson was not afraid to offer financial incentives to employees as a way to boost their morale. When he won damages of almost $1 million in a lawsuit against British Airways, Branson distributed part of the proceeds to Virgin employees. As he observed, receiving $400 from Virgin’s archrival was not only pleasant, but a great morale booster.