ENTREPRENEURSHIP

Entrepreneurship: Comparing Sir Richard Branson & Alan Michael Sugar



Entrepreneurship: Comparing Sir Richard Branson & Alan Michael Sugar

Introduction

This paper compares and contrasts two of the UK's most admired entrepreneurs and business tycoons, Sir Richard Branson and Alan Michael Sugar. In doing so, the paper traces their story to their family and educational backgrounds, and moves through the career path that led them ultimate business and personal success. Both of these businessmen have undergone long and purposeful journeys in their lives. In return for their struggle and determination, these men have been able to name themselves amongst the world's richest people.

Sir Richard Branson

Richard Branson is a famous business tycoon and entrepreneur from UK. He is known for his business group known as Virgin Group. The group has over 360 companies ranging from music record and entertainment to transportation and manufacturing. Starting his career with a publication of a magazine named 'Student' at the age of sixteen, Branson had a vision to explore the best entrepreneurship skills ahead. In 1970, he created a mail-in registration for companies. In 1972, he opened the record store chain called Virgin Records. The store chain then became popular with the name 'Virgin Megastores'. Later in 2007, it was rebranded as Zavvi (Timmons & Spinelli 2004 p.86). With his aureate style and competitive edge, the Virgin brand got exponential growths during the period 1980s to early 90s. In the meantime, Branson created Virgin Atlantic Airways and moved with the expansion of Virgin Records business unit. Today, According to Forbes Magazine, Richard Branson is regarded as the 212th richest person in the world. In 2008, he had a net worth estimated at approximately $ 4,000 million U.S. dollars. Richard Branson was educated at Scaitcliffe School until the age of thirteen. After that, he attended Stowe School until he was fifteen years.

Richard Branson is the eldest of his brothers, his sisters being Lindi and Vanessa. He followed his father Ted's career practicing lawyer. Eve, Branson's mother, worked in theatre as an instructor pilot and a flight attendant. Like all highly successful men, Richard Branson also married early in his life. Branson is married with Joan Templeman, with whom he has two children: Holly, who works as a doctor, and Sam.

Branson started his first company after traveling through the English Channel and buy records of print and balances, which were sold in London, using his car as a selling point or through outlets. In 1970, he continued to sell these discs through mail order. The name "Virgin" refers to the fact that similar conditions were sold to new, unlike other outlets whose records were in poor condition as a result of use (Ramsey 2011, p. 125).

Finally, Virgin also entered into the world of fleet operations. The fleet is formed into three companies: Virgin Atlantic is the most important of the three. Virgin Express is known for its European flights of short and medium distances. The latest Virgin Sun is a company that began in early 2000 as a domestic company ...