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offerings which subsequently gains attention from current and new consumers. As a businessstrategy overall, Virgin Group has shown that it will be successful through its continued venturesas it seeks a global presence with long-term growth and not compromising the vision it wasfounded upon.Business Models and Virgin GroupBusiness ModelsA business model is at its core the manner in which an organization uses varying methodsand projected short and long term plans to achieve growth and obtain revenue. While earningrevenue is key for a business’ success, not all business’ operate under the same model, but ratherwill operate under any one of the varying business models that are available and that best alignswith their mission, vision and goals. Examples of business models are indicative of thefollowing four basic models (Job, A., 2018) – Manufacturer: utilizes raw materials and produces product(s) for sale; such as anautomobile company who uses raw material to create vehicles on an assembly line;Distributor: is the facilitator of producing goods and services from another source,similar to a musical artist being under contract with a recording label to produce theirartistic flair;Retailer: is an organization that purchases product(s) from a distributor andsubsequently sells said product to public consumers; lastly, Franchise: is the manner in which business is expanded via the distribution of goodsand services through a licensing relationship with another organization, an example ofthis is Subway and Pizza Hut restaurants that operate under the regulations of the
BUSINESS STRATEGY6main corporate, but are operated locally by the individual(s) who own the franchiselocation.Business Model within Virgin GroupWith a business that has expanding over the years, and with a foot hold in a multitude ofareas such as entertainment, health & wellness, technology, travel and more, it is no wonder thatit is slightly difficult to identify just one business model of Virgin Group. In as such, dependentupon the nature of the work and area of business, Virgin Group is majorly a procurer of goodsand services, which then sells said product to consumers and therefore follows the distributorbusiness model. Virgin Group has shown collaborative efforts in its expansion as it partners withvarious organizations through private equity, strategic planning and growth of venture capitalwhich has successively allowed the organization to become a top-notch global brand (Virgin,2018). In a continuation of Branson’s goal of operating a business in the best manner all whiletreating consumers with respect and providing high quality products at a good value, the VirginGroup contributes to consumers lives by the application of products to suit varying aspects of acustomer’s daily life such as mobile service, travel, and entertainment. Two factors are evidentin the success of Virgin Group and Branson’s ideology – the recognition of the Virgin brand, aswell as, Branson’s own persona within the competitive market of one that is self-made anddetermined to continue attempting success (Finkle, T.A., 2011).