Promotions

Q Your company has hundreds of different businesses in operation – how do you manage to keep them on track and achieve expected output?

Robert Cheng, Taiwan
A: The short answer is that I rely on a terrific team of CEOs and top managers, and on the great people around the world who work for Virgin. But building this group was a long process, so let’s look at how our team arrived at this point.

When all news is good news

After an entrepreneur has expanded his successful new company or a chief executive has been promoted to the large corner office, he may sooner or later find himself starting to lose touch with employees and customers.

Brand

The conventional wisdom at business school is that you stick with what you know. Of the top 20 brands in the world, 19 ply a well-defined trade. Coca-Cola specializes in soft drinks, Microsoft in computers, Nike in sports shoes and gear. The exception in this list is Virgin – and the fact that we’re worth several billion dollars really bothers people who believe that they know “the rules of business” (whatever they are). 

When Disaster Strikes

One thing is certain in business: things will go wrong. So when you first start up a business, one of your priorities should be emergency planning.

Self Motivation

My motivations have changed a lot over the past 40 years. In retrospect, it’s clear that this has been a long-term process, and I acquired new motivations as time went on.

Empowering your intrapreneurs

Q: How can a manager empower employees to use their common sense?
Kellen Kiambati, Nairobi, Kenya
A: It takes an engaged, motivated and committed work force to deliver a first-class product or service and build a successful, sustainable enterprise. Empowering employees so that they can make good decisions is one of an entrepreneur’s most important tasks.

Delivery

So you have an idea for a business – one that you believe has the potential to alter the industry. You have put together a simple, straightforward proposition that potential customers find easy to understand. You have raised the necessary capital, gathered a team and publicized your new venture by every means available. What happens next?

Managing Change

Restructuring is a difficult process, right? It can be. Even if you’ve done everything right, sometimes you have to take your company in a new direction because circumstances and opportunities have changed. Companies aren’t future-proof – no company lasts forever.

African Entrepreneurs

I visit Africa often, and it is apparent that a “yes, we can” attitude is spreading across the continent, as awareness of its business and investment opportunities reaches around the globe.