Pravab

The Virgin Group At the age of 16, Richard Branson set up the student magazine. From the beginning his strategy was to identify the subjects that were neglected and not touched by well established companies and this gave him the competitive advantage (Pryce, 2009). In 1970, a mail order record was his new venture from where Virgin was founded. From that time on, he expanded virgin group into travel and tourism, mobile, leisure, mobile, finance etc and created a great empire – Virgin Empire consisting of more than 200 companies in more than 30 countries (Virgin, n.d. e). Branson has invested on companies with long term capital growth or which achieves long term value creation and feels this as the best approach for private companies (Pryce, 2009). Even when there were barriers in the virgin group journey, such as 1972-82 recessions, 1990-91 Persian Gulf War, Branson did not fall back. He continually expended the group into areas which were dominated by the big companies while select...

When a company is established all they look for is sales, profit and market share. Without these, a company cannot survive for long. But there comes an instance where finance is not only the key to survival. Financially oriented marketing has been highly criticized as this objective may lead to socially irresponsive practices (Sirgy and Lee, 1996). The company not only has the responsibility to their stakeholders but the society in which they operates. Social responsibility marketing is a way in which the company manages marketing responsibly, which contributes to the society in which it operates for the well being of the society (Brassington and Pettitt, 1997). This doesn’t mean that the company is responsible to resolve all the issues in the society and it’s not practically possible too. What a company should do is to find out which issues to focus on depending on their resources so that they create a shared value and gain a competitive advantage (Porter and Kramer, 2006). This may...