Entrepreneurship: Richard Branson and the Success of Virgin Group

Entrepreneurship

Contents
INTRODUCTION...........................................................................................................................3
Background of the Entrepreneur..................................................................................................3
Personality Traits of Entrepreneur...............................................................................................4
Opportunity Recognition and Idea Development process...........................................................5
Type of Business Development and Competitive Advantage.....................................................6
Recommendations........................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Entrepreneurship is considered as procedure of designing and launching and running an
organization that is based on a creative and innovative business idea. Most of the
entrepreneurship ventures starts at small level and have high growth rate in business
organization. The people who run the entrepreneurship venture are known as entrepreneur. This
report is based on the one of the most entrepreneur of United Kingdom, Richard Branson.
Richard Branson is founder of Virgin Group. He is well known entrepreneur and businessman on
global level. Brief background of the entrepreneur will be discussed in the report (Monitor,
2016). Various aspects of the entrepreneurship venture will be explained in report. The
personality and family background of the entrepreneur will be analysed in the report. Various
entrepreneurship traits will be analysed for the success of the business organization in the target
market. The process of opportunity creation and idea development also will be evaluated in the
report to get better response from market place. Brief discussion of business development and
competitive advantage in market place. Various recommendations will be made in the report to
improve the business of the organization in international market.
Background of the Entrepreneur
Richard Branson is one of the most celebrity figure in United Kingdom. Richard Branson
is famous as the founder of the Virgin Group. In my opinion there are various things present in
the personal life or professional life of a person that can lead their growth and development in
corporate culture. Richard Branson was born in year July 1950 in Blackheath, London, United
Kingdom. Richard Branson is famous as business man along with author and Philanthropist on
global level.
There are total more than 400 organizations are controlled by the Virgin Group around the world.
This is the reason why MR. Richard Branson is most famous person in global business market.
The organization that is founded by the Richard Branson is working in various fields that are
completely different from each other (Parker, 2018)
. The childhood of Richard Branson can not be considered as good time for him. IN my
knowledge there are various challenges are faced by MR. Richard Branson in his childhood. The
poor family background is major challenge for him. Richard Branson have two younger sisters