Branson Supports the Concept of Relationship Strength Both Inside and Outside of Companies

Senteo CEO Michael Ruckman joined Sir Richard Branson and other speakers in a conference at the Skolkovo School of Management in Moscow this week.  Ruckman presented on the topic of Relationship Centricity to a group of almost 200 bankers shortly before Branson’s interview and Q&A session.  Branson, among many things, stated that the quality of relationships between companies and their employees and customers drives the overall success of the organization.  He also shared his philosophy that employees that are happy and engaged in the relationship will work harder to keep customers happy and engaged, which, ultimately, will keep shareholders happy and engaged.  While most organizations have this in reverse order, Branson feels that this philosophy has lead to the ongoing success of many of the Virgin Group companies.

The conference was held on October 23rd with speakers from several countries and included topics such as entrepreneurial management, banking in the age of social networking, crowd sourcing, and online bank product customization.  While some speakers presented that banks will continue to be commoditized and increasingly distant from customers, some presenters, including Branson and Ruckman, believe that a mutually beneficial relationship between bank and customer can provide significant competitive advantage. Branson noted that his Virgin Money bank now issues one out of every three mortgages in the U.K., just a few years after it was taken over as the broken Northern Rock.