Sir Richard BransonSir Richard Branson learned, from an early age, not to let adversity get in the way of achieving a goal. As a pioneering thinker, he transformed many entrenched industry practices by upending the traditional business model. A unique approach to business is his hallmark and he is someone who is not afraid to challenge convention and encourages creativity. Lack of success in a venture is not a deterrent, but rather a motivator as this produces opportunities. His personality and management style combine to form a truly formidable opponent in any business venture explored within his company, Virgin Group.Key Issues1. Accept a challenge; be able to overcome obstacles in life and work.2. Using an entrepreneurial style enables and encourages innovation.3. Teamwork. List of alternatives1. Obstacles: a. Yield.b. Compromise.c. Challenge.2. Innovation: a. Accept that no change is necessary or possible.b. Buy established businesses and create change internally.c. Initiate a workaround to create competition.3. Teamwork: a. Authoritative.b. Structured hierarchical environment.c. Collaboration. Analyzing Alternatives Obstacles Giving up means that you have determined that it is not worth the time, effort, or money needed to overcome the problem. The good thing about this approach is avoiding uncertainty. Uncertainty tends to cause fear in those who are averse to risk, whether personal or financial. Avoiding risk will keep a person in their comfort zone as some are afraid of failure. A downside to this approach is the lack of personal and/or financial growth. Growth will never happen without taking risks. Understanding means that you have determined that you don't need to achieve every goal and that a less-than-ideal outcome is good enough. When a compromise is reached, some original needs are not satisfied. For example, you receive a late charge on a bill because the biller received the payment after the due date. Your goal is to cancel the late charge on a bill, however, you only reduce it by half. Neither party involved receives exactly what they intended, yet both parties are generally satisfied with the outcome. Using this same example reveals a potential drawback of this approach. You were not late with the payment and you have proof of this; however, the same result is obtained. You will feel slighted by the biller and the business you conduct with them may suffer.