Discussion questions

Discussion Yes, virgin group should diversify its operations in order to capture the opportunities brought by technology and shift in business trends, in addition, they have also diversified their operations to spread and mitigate the risks that are bought by the unstable global economy (Furrer, 2010). These diversifications should be mainly in terms of increasing the range of products and services that it offers or expanding their operations to different regions in the world. Other areas that the organization should target is the fashion industry whose major clients are the youth, therefore it will be making itself a one stop shopping organization for most of the youthful products. In order to stabilize its revenue, the organization should also consider venturing into mining and manufacturing especially in those areas that will directly determine the supply of its raw materials. As with other big organizations, virgin group should also venture in to the financial market to boost its revenue in the unstable global markets. Renewable energy sector is another promising area that virgin group can venture in since as the world moves from the conventional sources of energy such as petroleum products, the demand for renewable sources of energy is likely to increase which translates to profits for virgin group (Barwise & Meehan, 2010).
Other companies that have built their value proposition on image include McDonalds, which specializes in fast foods; the company has built an image as the best source of fast food in America. Apple is another company that has also built its value on its image proposition on its communication gadgets such as mobile phones, tablets and personal computers.
References
Barwise, P., & Meehan, S. (2010). The one thing you must get right when building a brand. Harvard Business Review, 88(12), 80-84.
Furrer, O. (2010). Corporate level strategy: theory and applications. Abingdon, Oxon, Routledge.