Richard Branson: Concept And Theme Of Entrepreneurship

1790 Words 8 Pages
SECTION I - Introduction:
Statement of research topic:
For the academic research assignment, this essay will deal with the concept and theme of entrepreneurship with focus mainly on how Sir Richard Branson as one of the most successful and world renowned entrepreneurs.
Purpose/Objectives:
• To learn about the theme of entrepreneurship.
• To understand why Sir Richard Branson is a successful entrepreneur.
• To find out knowledge about Richard Branson’s companies.
Introductory paragraphs:
In business, entrepreneurship is key factor in any discipline. Without a person who possesses entrepreneurial qualities like having self-belief in themselves, their idea and being able to take a risk the business would not have begun.
According to Meredith,
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Richard Branson from a young age conveyed that he had the making of an entrepreneur because he decided to start up the student magazine at his school. From then he proceeded to begin his entrepreneurial success story of running many successful companies till this day. Branson (2011) states that Branson’s first company of a mail order record retailer was set up in the year of 1970, the year he founded Virgin which from then has spiralled into numerous and successful virgin companies over the next few years until now.
Richard Branson although successful is not a typical manager as he likes to lead a “hands off approach” and let the company, directors, managers and workers be able to get on with the job themselves. He manages and leads through the style of Lassiez-faire which brings about more productivity, higher staff morale and better relationships as he is not constantly monitoring his employees. This style has made Branson not only a unique manager, but also a unique entrepreneur that has brought him to where he is
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Companies that Richard Branson is still director of.
Richard Branson has been involved in over 180 companies throughout his life and is now currently only a director of five companies but some of those companies consist of diverse company groups within them.
Virgin Travel Group Limited, Virgin Atlantic Airways Limited, Virgin Atlantic Limited, Virgin Atlantic Two Limited and Virgin Holdings Limited each include Branson as a current director.
How well some of the companies are doing from most recent accounts.
Virgin Travel Group Ltd had a profit of £603,000 in the year of 2013. £100,000 more than the previous year of 2012. (Fame, 2013)
Virgin Holdings Ltd had a combined group profit of £139 million in the year of 2014. In 2012 it was £162 million. (Fame,

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