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Learn about UK Popular Brands

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Entering the precarious world of post-Brexit Britain, homegrown brands will need to stay ahead of the global pack in order to survive. British brands are, however, less healthy and innovative than their global counterparts according to new BrandZ research by Kantar Millward Brown.

BrandZ's first ranking of the UK's top 50 most valuable brands does not include a single pure-play tech business, whereas 47% of the global top 50 are technology businesses. The British ranking is skewed heavily towards telecoms, finance and utilities companies, which comprise well over half (69%) of the top 50.

The lack of innovative British businesses breaking through at scale is affecting the overall health of UK brands. Just 22% of the UK top 50 are considered by BrandZ to be 'healthy brands', compared to 50% of the global top 50. The majority (64%) of British brands are described as being in 'OK health', with a further 12% considered 'frail'.

By comparison, 50% of the global top 50 are considered healthy, with just 4% being classed as frail.

Health is measured according to five metrics - purpose, innovation, communications, brand experience and love. According to BrandZ, companies are at risk of damaging their brand health and underperforming in the market if they fail on any of these metrics. Brands that fail on all five measures are classed as frail.

Peter Walshe, BrandZ global strategy director at Kantar Millward Brown, says: "If you compare to France, Germany and Spain, their brands are not as good as the global top 50, but they're better than the UK. We're behind the pack.

"We've been slow to adapt and adopt, particularly technology-related aspects for the benefit of consumers and brand experience."

Jane Bloomfield, head of sales and marketing at Kantar Millward Brown, believes British brand innovation has been affected by our widespread adoption of global tech brands, especially American imports like Amazon, Apple and Google.

"We have lost our way somewhere in that we have not fostered that industry or invested in that side of things and the US brands that you see in that global top 10 have led the charge," she explains.
READ MORE: Google reigns supreme as world's most valuable brand
Bridging the innovation gap

For brands that commit to innovation, there is a real opportunity to stand out from the pack. A notable example is Dyson (32nd in the ranking), which is Britain's best performer in terms of overall brand health.

Dyson topped the lists for innovation and purpose, as well as being the only brand to make it into the top 10 for the other metrics - communications, experience and love - as well.

Global category director for Dyson Professional and Lighting, Sam Bernard, explains that Dyson's innovation is rooted in developing technology that solves the frustrations in people's daily lives.
READ MORE: The UK brands with the most potential for future growth
"Take the Dyson Supersonic hair dryer. It didn't come about because we thought it would be lucrative to enter the hair dryer market. We had been developing small, powerful motors for nearly 20 years," Bernard explains.

"Combined with extensive scientific research into the effects of moisture, heat and airflow on real hair, we were able to create a totally different hair dryer - which solves the problems of conventional designs, such as excessive noise and weight, and imprecise control of heat and airflow."

Bernard explains the company's ethos is to encourage everyone to be bold, take risks and learn from the outcomes. Having the freedom to fail comes from being a family business which prioritises perfecting technology over making quick returns for shareholders.

Dulux (2nd for innovation), Sky (3rd), Virgin (4th) and Royal Mail (5th) make up the rest of the top five for innovation.

British Gas (21st in the overall top 50 and 8th for innovation) is another brand leading on innovation. Director of brand marketing, Margaret Jobling, explains how the company has invested in innovation from the inside out, focusing on the potential of a collaborative, digital workplace.

From a product perspective, innovation has included the development of its Hive smart heating meter, which helps users control their heating and hot water from their smartphone. Crucially, innovation is only useful if its consumer relevant, says Jobling.

"Sometimes innovation loses sight of the customer, but we're very clear that technology starts with the customer. Technology is a key part of our investment, recruitment strategy and proposition development strategy," she explains.

Reflecting on the perception that the UK is lagging behind on innovation, Jobling believes the perception problem is driven by the fact British tech does not get enough airtime.

"I see a lot of innovation going on in the UK and one of the biggest concerns for me if I look at the future is around talent and how do we make sure Britain retains talent and investment in tech as we move out of the EU," she explains.

Sometimes innovation loses sight of the customer, but we're very clear that technology starts with the customer.

Margaret Jobling, British Gas

"We have been known historically as an innovative market, whether that's in fashion, music or technology, and I wonder if we talk about it enough? Is there enough of a conversation about innovation or is all the focus on the big guys that are very global?"

Betfair brand director Stephen Mault agrees that while British brands are a hive of innovation, their achievements are often not as high profile as their global counterparts.

"There's a huge amount of innovation that's continuing to go on in the UK and maybe we just haven't had those big successes like the Facebooks and Ubers that have really captured the audience's imagination," he explains.

Founded in 2000 as a disruptor in the bricks-and-mortar bookmaking sector, Betfair (48th) aims to innovate both in terms of product and marketing. Mault believes new campaigns like 'Defender to Contender', which will see former Manchester United defender Rio Ferdinand train to become a boxer, show the company's innovative approach to marketing.

"We're thinking outside the box and doing some really big scale brand marketing activity that will put us above the parapet in terms of being innovative and working slightly differently from a brand perspective," he argues.

The Co-operative Group's director of Co-op brand, Helen Carroll, agrees that innovation does not have to be solely product focused. She notes the introduction of the Co-op's (38th) membership proposition in September 2016, which offers members a 5% reward for any purchases of Co-op own-brand products and services, with a further 1% directly benefiting local causes.

Carroll does, however, acknowledge that often it can be a problem for a heritage business to shake off the perception that it resists innovation.
READ MORE: Why the UK's oldest brands continue to prosper
"I totally agree that perception is reality with brands and actually we find that a lot when we look at the brand perceptions of people who aren't using us. Their view is very much based on a traditional view of the Co-op from a bygone era," she explains.

"If you are a newer tech business you're not having to shift perceptions from one thing to another, you're not having to create a new reality and actually it takes time to do."

Leading the pack

Looking specifically at Britain's top 10 most valuable brands, Vodafone (1st) leads the way, followed by HSBC (2nd), Shell (3rd), BT (4th), BP (5th) and Sky (6th).

Tesco is the highest placed retailer (7th), closely followed by Unilever's Lipton (8th), which benefits from a high proportion of overseas sales, then Barclays (9th) and O2 (10th).
CLICK HERE TO VIEW THE FULL TOP 50
While this is the first UK top 50, BrandZ has compiled a UK top 10 since 2006 as part of its global report. Vodafone, Tesco, HSBC, Barclays, O2 and Shell all retain their spot in the top 10.

Despite huge competitive pressures, both in the UK and Europe, Vodafone has maintained its leading position through its willingness to work on internal culture, explains Bloomfield.

"Vodafone is little bit like Tesco in that it has spent a good amount of time looking internally. It has worked very hard on its purpose and how what it is doing supports a bigger, broader purpose."

BrandZ's Peter Walshe, believes that remaining in the top 10 is a particular achievement for Tesco, which since 2006 has had to contend with a highly competitive market and the fallout from the 2014 accounting scandal.

"Tesco has recovered from huge pressures and responded well by investing in the customer experience, so much so that it is beginning to reportedly reduce the profits of the fast-growing Aldi and Lidl. It is really coming back as a massive competitive force," he adds.

Looking at the banking sector, Bloomfield argues it is "phenomenal" that following the 2007 financial crisis HSBC and Barclays have retained their position in the top 10, which she believes is based on the sheer strength of their brands.

Elsewhere in the top 10 competition has ramped up between BT and Sky, with the former looking to steal its rival's share of the sports TV market. BT must, however, invest in original content to keep pace with Sky's premium offering.

A notable omission from the ranking is Pret A Manger. Despite being listed as one of the top 10 most valuable British brands in 2006, the sandwich chain has fallen out of the top 50 altogether. Bloomfield puts this down to a lack of innovation and a surge in competition over the past decade.

"If you look at their offer today versus 10 years ago it's not changed at all. If you think about the competitive landscape, the choice is now phenomenal. Pret was so early into the posh sandwich market and at that time there was probably only M&S who played in that space," she explains.

"With things like Deliveroo you can now order anything and get it delivered. My personal opinion is that they've lost their competitive edge."

Another brand not to make the list is John Lewis, which misses the cut due to a lack of scale.

"It's got all the metrics of a fantastic brand, but it just isn't big enough," Walshe explains. "Although John Lewis does a good internet service, it's very parochial. The way in which that brand can expand is using its DNA. It's certainly not for everyone and that's its strength."

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Revealed: The UK's 50 most valuable brands and why they must innovate to survive globally

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Entering the precarious world of post-Brexit Britain, homegrown brands will need to stay ahead of the global pack in order to survive. British brands are, however, less healthy and innovative than their global counterparts according to new BrandZ research by Kantar Millward Brown.

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Learn about UK Sport Brands

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From Wikipedia, the free encyclopedia

Subcategories

This category has the following 2 subcategories, out of 2 total.

Pages in category "Sporting goods manufacturers of the United Kingdom"

The following 32 pages are in this category, out of 32 total. This list may not reflect recent changes ( learn more).

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Category:Sporting goods manufacturers of the United Kingdom

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From Wikipedia, the free encyclopedia This category has the following 2 subcategories, out of 2 total. The following 32 pages are in this category, out of 32 total. This list may not reflect recent changes ( learn more).

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Learn about UK Retailers

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Retail Brands Ltd are able to offer a complete sourcing and supply service for retailer private label product in the Crisp & Snack and Confectionery categories.

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Learn about UK brands

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Superbrand status is awarded for quality, reliability and distinction by a combination of an expert council, and business executives or consumers voting on a comprehensive list of consumer and business-to-business brands. The Superbrands Annual explores the history, development and achievements of some of the nation's leading brands, showcasing why they are well-regarded and providing valuable insights into each brand's strategy and proposition.

The Superbrands organisation identifies and pays tribute to exceptional brands throughout the world. The UK programme is run under license by The Centre for Brand Analysis (TCBA).

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Superbrand status is awarded for quality, reliability and distinction by a combination of an expert council, and business executives or consumers voting on a comprehensive list of consumer and business-to-business brands. The Superbrands Annual explores the history, development and achievements of some of the nation's leading brands, showcasing why they are well-regarded and providing valuable insights into each brand's strategy and proposition.

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Unit Presentations, Revision Material and Helpful Links

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Theories and Models for Edexcel A Level Business | Business | tutor2u

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Fewer British holidaymakers have booked a summer holiday inside the European Union this year amid continuing Brexit uncertainty, Thomas Cook has said.

The travel firm says almost half (48%) of the holidays it sold up until the end of February were to non-EU destinations, up 10% on last year.

Despite this, the firm says Spain is still its most popular destination.

Its findings chime with separate Post Office figures showing currency sales for long-haul destinations have jumped.

Sales of the Japanese yen were up 12% so far this year compared with last, while sales of the Indonesian rupiah have increased by 9%, Post Office Travel Money said.

The figures are based on Post Office transactions between 1 January and 23 April. The Post Office accounts for about a quarter of all UK currency transactions.

It said the biggest growth in currency sales so far this year has been for the Egyptian pound, which has seen a 687% year-on-year increase.

Thomas Cook - through which 19 million people book holidays each year - said after Spain, Turkey had proved the most popular destination for its holidaymakers, accounting for a quarter of its flight-only bookings so far.

Thomas Cook said Tunisia was also "faring well" with package bookings to the country double that of last year, with flight-only bookings up four-fold.

Tourism to the country fell dramatically after a 2015 terrorism attack in the resort of Sousse in which 30 British tourists and eight others were killed by a gunman with links to Islamic State.

The Foreign and Commonwealth Office lifted its travel ban against the country last year, prompting British operators to renew flights to Tunisia's Mediterranean coast.

Thomas Cook has made two profit warnings in the past six months following drops in holiday bookings. In March, it detailed plans to close 21 stores across the country and cut more than 300 jobs.

Chief executive Peter Fankhauser said it was still too early to tell the impact on bookings of the UK's exit from the European Union being delayed to the end of October.

But he said there was "little doubt that the prolonged uncertainty around the manner and timing of Britain's exit from the European Union has led many customers to press pause on their holiday plans for this summer".
How have you changed your holiday plans because of Brexit? Let us know by emailing haveyoursay@bbc.co.uk .
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'Fewer Britons choosing EU for holidays'

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Fewer British holidaymakers have booked a summer holiday inside the European Union this year amid continuing Brexit uncertainty, Thomas Cook has said. The travel firm says almost half (48%) of the holidays it sold up until the end of February were to non-EU destinations, up 10% on last year.

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Easyjet has warned that "unanswered questions surrounding Brexit" are weakening demand as it heads into its key summer trading period.

Shares in the low-cost airline fell 9% after it said it was now "more cautious" about its expected financial performance in the key second half of its financial year from now until the end of September.

Chief executive Johan Lundgren said the carrier was operationally well-prepared for Britain's departure from the European Union but that it was seeing "softness" in the market in both the UK and Europe.

The warning also weighed on rival Ryanair, sending shares down 4%, as well as International Airlines Group - owner of British Airways and Iberia - which fell 2%.

Travel operators Thomas Cook and TUI dropped by 6% and 4%.

Easyjet said it was set to report a headline loss of £275m for the six months to the end of March, in line with its expectations over a period when travel operators traditionally struggle to turn a profit.

But Mr Lundgren said the outlook for the second half was now more downbeat.

He said: "We are seeing softness in both the UK and Europe, which we believe comes from macroeconomic uncertainty and many unanswered questions surrounding Brexit which are together driving weaker customer demand."

The airline said this was resulting in a squeeze on ticket yields - a measure of money it makes from journeys.

However Mr Lundgren pointed to moves by the European parliament and the UK to be prepared for Britain's departure from Europe meaning that "whatever happens, we'll be flying as usual".

He added that there had been progress towards meeting European ownership requirements - another issue that presents a headache for UK-focused airlines as they get ready for Brexit.

Easyjet said EU investors - not including UK shareholders - now owned 49.92% of the company.

The airline's warning over its summer performance comes after travel operator Thomas Cook said in February that "consumer uncertainty" was weighing on bookings.

Easyjet's rival Ryanair - whose chief executive Michael O'Leary has been vocal in his warnings about the risks of Brexit - said earlier this year that the airline "did not share the recent optimistic outlook of some competitors that summer 2019 air fares will rise".

Russ Mould, investment director at AJ Bell, said easyJet's latest warning had "sent shockwaves across the airline industry".

He said: "People have been worried about the impact of Brexit on the aviation sector and there is lots of chatter that individuals are holding off from booking flights and holidays.

"If you're going to hand over a large sum of money for a trip abroad, you want to be reassured that the flight will actually happen and will take off as scheduled. At the moment travellers don't seem to have that reassurance.

"Easyjet insists that it will be 'flying as usual' whatever happens with Brexit, however these positive words may not be enough to solve its problems."

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Holiday bookings hit by 'unanswered questions' on Brexit, easyJet warns

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Easyjet has warned that "unanswered questions surrounding Brexit" are weakening demand as it heads into its key summer trading period. Shares in the low-cost airline fell 9% after it said it was now "more cautious" about its expected financial performance in the key second half of its financial year from now until the end of September.

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Travel firm Thomas Cook is closing 21 stores across the country and cutting more than 300 jobs.

The company said 102 customer-facing roles would be axed as a result of the store closures, while it planned to cut a further 218 jobs "following a review of the retail workforce".

It said holidaymakers continued to switch bookings from stores to online.

In September, Thomas Cook said profits would be hit after the summer heatwave saw many take their holidays in the UK.

It issued a second profit warning in November, when it said winter bookings were also down.

The shop closures will take the number of Thomas Cook outlets down to 566.

It said a consultation with staff and unions had begun.

The firm's chief of tour operating, Will Waggott, said: "Today's announcement reflects the wider challenges seen on the High Street, with more and more customers choosing to book online."

Thomas Cook said 64% of all its bookings in the UK were made online last year.

It added that the job cuts and store closures were part of plans to "streamline" the business.

Manuel Cortes, general secretary of transport union, TSSA, said: "This is a devastating blow to all those involved. We are seeking urgent talks with the company and will be doing all we can to ensure the best deals possible for our members at Thomas Cook.

"The company is reported as saying a sharp fall in holiday bookings has created the need for it to reappraise its business model. Make no mistake the uncertainty caused by Brexit is the underlying cause."

The stores earmarked for closure are:

Gosforth, Newcastle upon Tyne

West Bromwich Sandwell Centre, West Midlands

Llandudno, North Wales

Sunderland Sainsbury's, Tyne & Wear

North Shields, Tyne & Wear

Peterlee, County Durham

Accrington, Lancashire

Market Harborough 23 St Marys Place, Leicestershire

Bury Haymarket, Lancashire

Stratford-upon-Avon, Warwickshire

Aberdeen Langstane, Aberdeen

Chesham, Buckinghamshire

Launceston, Cornwall

Stevenage, Hertfordshire

Shipley, West Yorkshire

Cumbernauld, North Lanarkshire

Guildford, Surrey

Glenrothes 52 Unicorn Way, Fife

Colchester High St, Essex

Kingston upon Thames, Surrey

Kirkintilloch Cowgate, Glasgow

The majority of stores being closed were not profitable, and were chosen for closure as their leases were due for renewal, a spokesman said.

As well as weather-related woes, Thomas Cook has faced competition from online travel agents and low-cost airlines.

It has also said political unrest in holiday destinations such as Turkey has been disruptive to its business.

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Thomas Cook to close stores and cut jobs

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Travel firm Thomas Cook is closing 21 stores across the country and cutting more than 300 jobs. The company said 102 customer-facing roles would be axed as a result of the store closures, while it planned to cut a further 218 jobs "following a review of the retail workforce".

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During the past two years, the pound has had a rough time of things when it comes to its price against the dollar and other currencies.

The immediate aftermath of the Brexit referendum saw sterling decline sharply in value.

And as the vote on the UK's withdrawal deal from the European Union looms, further volatility is expected.

Since June 2016, holidays and imported goods have become more expensive, but UK exports have been cheaper.

It's a complex picture, though.

Exporters, such as carmakers, are importers themselves, buying in raw materials such as oil or copper.

While Britons living abroad but drawing a UK pension have suffered as the pound has declined.

Why does the pound move?

Since 1992, the pound has floated freely on currency markets, meaning that traders - buyers and sellers - determine what it's worth.

When the pound rises in value, more of the currency is being bought. When it goes down, more is sold.

"A free-floating currency is a very good thing, because it works as a safety valve," says Jane Foley, senior currency strategist at Rabobank.

After the global financial crisis, countries whose economies suffered had weaker currencies. "Countries in the eurozone such as Greece and Spain had a strong euro they couldn't devalue," or reduce in value, she added, and for them, the safety valve was wage cuts.

"The downside is when it comes on the back of political uncertainty," she said. "Goods become more expensive."

Why does it react to the chance of a softer Brexit?

In recent years, traders have been looking at politics, rather than economic data, which means faster trading, and a faster pace of change in the price. That's the volatility traders talk about.

"If you think abut political uncertainty being bad, the worst outcome is a hard Brexit," says Ms Foley, because details of what will happen under those circumstances are so scarce.

"If that's the worst case scenario, it [the pound] will rally if hard Brexit seems unlikely."

Similarly, talk of putting Brexit on hold has boosted the pound, as it gives businesses more room to plan, she says.

A softer Brexit could be good news for savers, according to CIBC's head of foreign exchange strategy, Jeremy Stretch.

Currency experts think that a softer Brexit could provide a boost to the economy by providing confidence and certainty to companies and consumers who in turn may decide to spend more or take on more staff.

That increased economic activity could prompt the Bank of England to raise interest rates, boosting returns for savers.

"We could see an interest rate hike come the May meeting of the Bank of England, although it may be the case that they wait until August," according to Mr Stretch.

"Moving towards a softer Brexit would help to alleviate the uncertainty that was impacting the economy in the latter stages of 2018."

What does that mean for buying holiday cash?

"Certainly since 2016, sterling is weaker," says Ms Foley. "Our wealth overseas has lessened."

At the bureau de change, rates will be even worse than those on the financial market.

That reflects their business costs including rent, staff, security and having lots of money ready. And if you buy your notes at the airport, convenience.

BBC research shows that travellers have seen bureau de change rates fall in recent months as the pound as suffered against other currencies.

But the value of the pound is always reflected in the price of another currency.

Which means that since the referendum there are some currencies against which sterling has performed better, notably the Turkish lira and the Argentine peso.

What other factors influence the pound?

Interest rates and money-printing can also have an effect. Higher interest rates, and therefore returns, may attract more foreign buyers, which pushes up the value of the currency.

Printing money, either literally or through the bond-buying programmes known as quantitative easing, has historically reduced the value of a currency by increasing its supply. But sometimes the effects can be minor.

Another factor is the UK's current account deficit, says Jane Foley. That's where imports exceed the value of a nation's exports.

A simple way of thinking about it is a deficit of savers, she says. "We need foreign savers to make up the shortfall. If they don't like what they see, they are more likely to pull their money out." That means selling pounds and a cheaper currency.

"If we had a surplus, we would not be as vulnerable," she says. It explains why the pound is more volatile - why trading happens at a faster rate - than the yen. Japan has much domestic wealth to draw upon.

Why is there so much buying and selling of currencies?

Companies may buy currencies for a variety of reasons. A company wanting to buy a UK-based rival will need lots of sterling to do so. It may have to sell dollars or euros and buy sterling.

Likewise, a company wanting to pay shareholders a slice of profits may need to bring UK sales home. They will sell their pounds.

Then you have traders who think they know something others don't. They will make bets on the market, or speculation.

"Customers I see are corporate customers who may have to buy energy, grain or some other component," says Ms Foley. "They have a natural need. It's an easy mistake thinking it's just speculators, making a quick buck."

What do the experts think will happen to the pound?

Events will determine how the pound performs in the short term, until some sort of resolution for Britain's departure from the EU comes about, said Ms Foley.

The vote on Prime Minster Theresa May's Brexit deal will probably be the next event. Market-watchers have typically mixed views.

"The pound will react to the extent and manner of the government's likely defeat in the vote, with a heavier defeat more likely to push down on an exchange rate that has already depreciated a great deal," said Gregory Thwaites, research director at WorldRemit and previously Head of International Research at the Bank of England.

"In the unlikely event that the deal is passed, sterling will be likely to rally."

"Should the withdrawal act be ratified on Tuesday, sterling will probably surge about 5% in value against the US dollar, but if December's failed attempt is anything to go by then the chances look slim," said Simon Harvey, market analyst at Monex Europe.

Hussein Sayed, chief market strategist at FXTM, said: "It is expected that the bill will be voted down, but this won't be the most significant factor influencing the pound's direction, it's what will happen next."

He says options as diverse as a no-confidence vote in the government, an extension of Article 50, a new general election and a second referendum could mean very different things for the pound. "As of now, investors seem to be on wait-and-see mode."

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During the past two years, the pound has had a rough time of things when it comes to its price against the dollar and other currencies. The immediate aftermath of the Brexit referendum saw sterling decline sharply in value. And as the vote on the UK's withdrawal deal from the European Union looms, further volatility is expected.

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Michael O'Leary, the outspoken boss of low-cost airline Ryanair, has been no stranger to controversy.

Mr O'Leary, who has agreed to stay on for another five years, is well-known for not being shy about expressing his views, famously excoriating his staff, his customers, competitors, regulators, governments, and groups such as environmentalists and scientists.

Mr O'Leary, who comes from a wealthy background, went to the same boarding school that James Joyce previously attended, Clongowes Wood College.

However, the similarities between the two pretty much end there.

He does not have quite the same turn of phrase as Mr Joyce did.

He once said of passengers looking for a refund: "We don't want to hear your sob stories. What part of 'no refund' don't you understand?" and has said he doesn't believe in man-made climate change.

Stelios Haji-Ioannou, the entrepreneur who founded Easyjet, once told the BBC: "I think he comes across as a very rude person to his customers - you know, the 'F this and F that' philosophy of customer care.

"He's actually invented, if you like, a new sector in aviation, which is people who, in order to save another £10, £15 are willing to spend two hours on a bus getting to and from an airport, and spend half of that saving sometimes on a bus fare.

"He's developed a market. These people are more price sensitive than anything else, and therefore they accept this verbal abuse that they get sometimes."

Ryanair decided to be a bit nicer to customers after a drop in profits in 2014, but that policy didn't stop the firm from introducing new bag rules earlier this year which mean customers who want to take anything more than a small bag on board need to pay more.

Mr O'Leary has also been a vocal critic of Brexit, having long been concerned about the impact on air travel between the UK and the EU, and worried about the possibility of a hard border between Northern Ireland and the Republic of Ireland.

Ryanair beginnings

After leaving Trinity College in Dublin, Mr O'Leary trained as a tax accountant with a firm which became part of KPMG.

He was later employed by Tony Ryan, whose sons were also educated at Clongowes.

Mr Ryan made his fortune leasing aircraft in the 1970s and 1980s, before setting up Ryanair in 1985 as a small airline operating between Waterford and Gatwick.

The company got into difficulties because of high costs and low passenger numbers before Mr O'Leary joined in 1988 as chief financial officer.

He initially told Mr Ryan to just shut the airline down, but as a last resort, Mr O'Leary tried a low-fare model, ditching business class in favour of a "one-size-fits-all" approach.

The airline was restructured in 1990, copying the Southwest Airlines model of low fares.

Mr O'Leary became chief executive in January 1994.

Cost 'obsession'

So what was the secret of Ryanair's and Mr O'Leary's success?

"He will cut fares to whatever it takes to get people on his planes," says Independent travel editor Simon Calder.

"He has gone further than any other airline boss in terms of just cutting, cutting, cutting," Mr Calder says, adding that Mr O'Leary has "an obsession about costs".

Ryanair cuts costs in many ways, including getting passengers to check in online or pay for doing so at the airport, charging for putting bags in the hold, and charging customers who want to choose seats.

And it has been a very profitable and popular model.

Forbes estimates Mr O'Leary to be worth about $1.1bn (£860m), and Ryanair says it carried 130 million passengers in 2017-18, up from 120 million the previous year.

'Lazy' staff

Mr O'Leary has described his staff as his "biggest cost", saying: "We all employ some lazy bastards who needs a kick up the backside, but no-one can bring themselves to admit it."

In July 2018 his cabin crew banded together with a list of demands including sick pay, predictable working hours, minimum rest periods, and an end to having to pay for their own water, food and uniforms.

Pilots too have not been happy with pay and working conditions.

A series of strikes over the summer meant hundreds of flights were cancelled, and Ryanair's refusal to compensate tens of thousands of UK-based customers led to the Civil Aviation Authority saying it would take legal action against the airline.

Despite the controversies, Simon Calder says on a personal level Mr O'Leary is "absolutely charming" and a "highly entertaining and interesting person".

However, he adds: "I'm not sure if I'd have quite the same attitude if I actually worked for Ryanair."

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Michael O'Leary: Ryanair's outspoken boss

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Michael O'Leary, the outspoken boss of low-cost airline Ryanair, has been no stranger to controversy. Mr O'Leary, who has agreed to stay on for another five years, is well-known for not being shy about expressing his views, famously excoriating his staff, his customers, competitors, regulators, governments, and groups such as environmentalists and scientists.

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Thomas Cook has said it is conducting a "strategic review" of its airline as it seeks to find funds to invest more in its hotels business.

The travel firm stressed the review was at an early stage, but would consider "all options" including a sale.

The company's fleet of 103 jets is a mix of planes it owns and leases.

Airlines across Europe are struggling amid fierce competition. Budget airline Germania has filed for bankruptcy and Flybe needed rescuing last month.

In contrast, Thomas Cook's airline is largely profitable. It made earnings before financing costs and tax of £129m last year, although it reported a loss in the last three months of 2018.

News of a potential sale boosted the firm's shares by 13% in early trading.

The company said it needed "greater financial flexibility and increased resources" to invest in its own-brand hotels. The company wants more control over its hotels to make them more customisable, it says, such as offering a sunbed booking service.

Thomas Cook reported a wider operating loss in the three months to the end of December, up £14m from a year ago to £60m. Sales rose 1% to £1.66bn.

Lee Wild, head of equity strategy at Interactive Investor, said: "Net debt of £1.59bn is a millstone around Cook's neck, and it just does not have the money to make crucial and necessary improvements to the business."

If it wants to upgrade its hotels, it "explains the rationale" of potentially selling the airline business, he said.

Thomas Cook operates planes in the UK, Germany and Scandinavia. Just under half of its airline seats are used by the tour operator's own customers, with the remainder sold to rivals and the public. A quarter of the fleet flies long-haul.

Norwegian loss

In a further sign of stress in the airline sector, Norwegian Air said on Thursday that its fourth-quarter loss had widened to $351m (£272m) from about $83m a year ago. The airline made a name for itself offering budget transatlantic flights, but it landed itself with high losses and large debts.

IAG, British Airways' owner, last month decided not to buy the firm, leading Norwegian to decide to raise funds from shareholders.

Earlier this week, Ryanair posted a net loss of €19.6m (£17.2m) for the last three months of the year, its first quarterly loss since March 2014.

While the company blamed too many airlines chasing too few passengers, costs may be the real problem, industry experts said.

Separately, shares in rival travel Tui sank 20% on Thursday after the company slashed its earnings forecast. blaming last year's "extraordinary hot weather" and the weak pound.

The firm said profits for the year to 30 September will be about €1.17bn, similar to last year. Previously it said 10% growth could be expected.

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Thomas Cook has said it is conducting a "strategic review" of its airline as it seeks to find funds to invest more in its hotels business. The travel firm stressed the review was at an early stage, but would consider "all options" including a sale.

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Maths Skills                                            Formulas                                                    Diagrams Exam Command Words

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SUMMER 2019 PAPER 3 - OFFICIAL RESEARCH BUSINESS SITUATION RESEARCH QUESTION 

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SUMMER 2019 PAPER 3 - OFFICIAL RESEARCH BUSINESS SITUATION RESEARCH QUESTION 

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Smaller mark questions

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The 10 mark questions will appear on both Paper 1 and Paper 2 and knowing how to answer these questions will have a big bearing on your overall AS grade.

Let's take the following question which is based on a fictitious car manufacturer, the Mayflower Motor Company

Assess the importance of total quality management to the Mayflower Motor Company (10 marks)

Good practice is to start off with a definition of total quality management. Not only will this gain you some easy knowledge marks but starting off with a definition can result in a more focused response.

Next, you need to analyse a strong argument that looks at why total quality management is important for the Mayflower Motor company. Make sure your argument is also in context by applying your answer to the business and that your argument is coherent, showing a logical chain of reasoning. Using connectives in your answer can help you to develop logical chains of reasoning.

Then, you need to show balance by providing a counter argument (counterbalance). This argument should look at some of the limitations of total quality management to Mayflower or perhaps a disadvantage of total quality management. Remember, your argument must be contextualised.

Finally, in order to reach the very top of level 4 and achieve 10 marks you must come to a supported judgement. This means you must weigh up both of your arguments and then make a supported judgement in relation to how important you believe total quality management is to the business. Do the benefits outweigh the drawbacks? If so, why?

Practice this technique with the 10 mark questions on the Edexcel A Level Business Year 1 (AS) specimen papers and also the Edexcel Practice Exam Papers that have been developed by tutor2u to help give you maximum opportunities to improve your exam technique.

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How to Answer a 10 Mark Question for Edexcel A Level Business Year 1 (AS) | tutor2u Business

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The 10 mark questions will appear on both Paper 1 and Paper 2 and knowing how to answer these questions will have a big bearing on your overall AS grade. Let's take the following question which is based on a fictitious car manufacturer, the Mayflower Motor Company Good practice is to start off with a definition of total quality management.

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Answers and Solutions to Tasks and Activities

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AS & A LEVEL BUSINESS TOPIC REVISION VIDEO PLAYLIST

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AS & A LEVEL BUSINESS TOPIC REVISION VIDEO PLAYLIST

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ALL TOPICS

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AND MARK SCHEMES

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This section includes recent A-Level Business past papers from Pearson Edexcel. You can download each of the Pearson Edexcel A-Level Business and AS Level Business past papers and marking schemes by clicking the links below.
Pearson Edexcel A-Level Business Past Papers June 2022 (9BS0) Pearson Edexcel A-Level Business Past Papers November 2021 (9BS0) Pearson Edexcel A-Level Business Past Papers November 2020 (9BS0)
The above papers are labelled June 2020
Pearson Edexcel AS-Level Business Past Papers November 2020 (8BS0)
The above papers are labelled June 2020

Pearson Edexcel A-Level Business Past Papers June 2019 (9BS0) Pearson Edexcel AS-Level Business Past Papers June 2019 (8BS0) Pearson Edexcel A-Level Business Past Papers June 2018 (9BS0) Pearson Edexcel AS-Level Business Past Papers June 2018 (8BS0) Edexcel A-Level Business Studies Past Papers June 2017 (9BS0)
A-Level Business Studies: Paper 3 - Investigating Business in a Competitive Environment (9BS0/03)
Download Pre-Release Material - Download Past Paper - Download Mark Scheme
Edexcel AS-Level Business Studies Past Papers June 2017 (8BS0) Edexcel A-Level Business Studies Past Papers June 2016 Edexcel AS-Level Business Studies Past Papers June 2016 (8BS0) Edexcel A-Level Business Studies June 2015 Edexcel A-Level Business Studies June 2014
For more A-Level Business Studies past papers from other exam boards click here.

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Edexcel A-Level Business Studies Past Papers - Revision World

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Pearson Edexcel A-Level Business exam past papers and marking schemes and AS Level Business past papers. Download them for free here.