C/B/685. Contrast the ways in which strategy is formulated and examine whether Virgin's strategy has changed over the years

The paper looks at business strategy in terms of the ways in which it is formulated. This implies an examination of the process and content in which a strategy is devised. In so doing, three modes are discussed: the adaptive, entrepreneurial and planning mode. With that, it is also discussed the requisites in which a strategy is adopted such as by considering the environment in which the business operates, self-appraisal of the company, the goals which are sought to be achieved and so on. All this is done using the Virgin group of companies as a working example. Most importantly, it seeks to highlight whether Virgin's strategy has changed over the years if at all. It finds that to some degree, Virgin has changed. Starting with the entrepreneurial style, which saw it through rapid expansion in the early 1970s, to the present day, where it utilises all of the above strategies, both by way of process and content.