| Category |
Assignment |
Subject |
Management |
| University |
BPP Business School |
Module Title |
Principles of Management |
Assessment Brief
For this formative assignment, you will produce a 1000-word management report on the Virgin Group in an academic style.
In this formative assignment, you will cover the following learning outcomes (LOS):
- LO1 – Apply knowledge and understanding of the key management theories and concepts/practices to contemporary organisations.
- LO3 – Evaluate the dynamics of the global business environment, and the need for effective management as a value-adding universal activity at global, national and local levels.
Assessment Scenario
Acting as a business consultant, you are required to analyse the management functions and practices and write a business report for the senior management team of a chosen Virgin subsidiary. You must utilise the techniques and concepts you have covered in the module. You must also provide a skills development plan and reflective statement.
Virgin Group - a venture capital organisation known all over the world
Virgin Group is a venture capital organisation known all over the world, whose brands/subsidiaries aim to offer value for money, quality, innovation and fun. Founded by Richard Branson, it has created hundreds of companies in many sectors of the economy, though senior management is said to pay close attention to only about 20 of these. They are distinguished by being part of the Virgin brand.
Branson opened his first record shop in 1971, followed by a recording business in 1973. Virgin Atlantic Airways began operating in 1984, quickly followed by Virgin Holidays and a joint venture offering financial services. By 2020, Virgin Group employed 69,000 people in 35 countries and had an annual revenue of £16.6bn (Virgin by Design, 2020). Its senior team is made up of Peter Norris as chairman, Josh Bayliss as chief executive (since 2011), and executives responsible for commercial, people, purpose and vision, legal and operations, and finance, respectively. Virgin companies are in six industries:
- Travel and Leisure
- Telecom and Media
- Financial Services
- Health and Wellness
- Music and Entertainment
- Space.
One of the key reasons for the success of Virgin Brands is its managers' ability to consistently add value to its products and services. By going above and beyond customer expectations, companies can differentiate themselves from their competitors and create a loyal customer base. Virgin Brands excels at this by offering unique and innovative products and services that provide customers with something extra.
For example, in the airline industry, Virgin Atlantic has become known for its exceptional customer service and luxurious in-flight experience. From comfortable seating to gourmet meals, Virgin Atlantic goes the extra mile to ensure that passengers have a memorable and enjoyable journey. By offering these additional services, Virgin Atlantic adds value to the flying experience and sets itself apart from other airlines.
In the music industry, Virgin Records has established itself as a leading record label by signing top talent and producing hit albums. In addition to traditional music releases, Virgin Records also offers value-added services such as exclusive merchandise and VIP concert experiences. By providing these extras, Virgin Records enhances the overall music experience for fans and creates a loyal following.
Virgin Brands also adds value through its commitment to social responsibility and sustainability. Through initiatives such as the Virgin Earth Challenge, Virgin Group is dedicated to addressing environmental issues and promoting sustainable practices. By aligning its brand with important social causes, Virgin demonstrates its commitment to making a positive impact on the world and adds value to its products and services.
Assessment Tasks
You are to critically analyse and evaluate the current management practices at the Virgin Group. You must recommend changes based on your evaluation that your chosen Virgin Brand must implement to improve its success. (You only need to provide a draft version of Task 1 and Task 2 – NOT the full required content for summative)
Task 1 – Key Management Theories, Concepts and Practices (LO1)
Select one Virgin subsidiary and discuss how management theories, concepts and practices are currently adding value. Explain, with evidence, what these management practices have contributed to the success of your chosen Virgin subsidiary/brand.
Support your arguments about appropriate academic literature, case study materials and your independent research.
Task 2 – Management as a value-adding universal activity (LO3)
Evaluate the dynamics of the global business environment. Discuss how the management at your chosen Virgin subsidiary has adapted their strategies and methods, at global, national and local levels, adding value to the subsidiary.
Support your arguments about appropriate academic literature, case study materials and your independent research.
Assessment Guidelines
Introduction:
- Introduce your chosen Virgin subsidiary and explain the context of your management report.
- Briefly discuss the current issues in your selected subsidiary.
Task 1 – Key Management Theories, Concepts and Practices (LO1)
- Explain how management is contributing to adding value
- Discuss the four philosophies of the Competing Values Framework and identify ONE other relevant management theory that is driving the management approach at your selected Virgin subsidiary.
- The relevant management theory must be appropriate to your answer. You may choose to consider the following theories: Scientific Management Theory, Bureaucratic Theory, Administrative Theory, Contingency Theory, TQM Theory, etc. NOTE: This list is not exhaustive, and you should choose the most appropriate theory in your answer – DO NOT attempt to apply all theories.
Task 2 – Management as a value-adding universal activity (LO3)
- Consider applying the Long-PEST framework, or Porter’s 5 forces, to evaluate what your chosen Virgin subsidiary should do differently at global, national and local levels.
- Based on the above analysis, identify and evaluate one global factor that can create opportunities and one that can pose threats to your chosen Virgin subsidiary.
- Refer to specific details of where the management of your chosen Virgin subsidiary/brand can add value.
Report Structure
Your report structure should include the following sections:
- Cover page (BPP University Administration Cover Sheet)
- Table of Contents
- List of Abbreviations (if appropriate)
- Introduction (Optional)
- Task 1
- Task 2
- References
Appendices (if required)
Word count: 1000 words
