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Flagship Company | Flagship Store | Flasghip Store | Flagship Brand | Flagship Products & Services

FLAGSHIP - MEANING & DEFINITION

Let us first know the meaning of "flagship" itself.

Flagship is a nautical / naval term. It is commonly used in marine.

As defined by Oxford Dictionary:
  • "Flagship is the ship in a fleet which carries the commanding admiral". 
  • In the context of a company or an organisation, it means "The best or most important thing owned or produced by a particular organization".

Flagship Company Corporate-cases.com

WHAT IS A FLAGSHIP COMPANY / CORPORATION?

A flagship company:
  • is a company which is the leading company in a group of companies;
  • may have a number of subsidiary companies, but it's not a mandatory thing to be called or known as a flagship company of a group of companies;
  • represents the brand image of the group in the market/industry;
  • is the well-known company among all the companies in that group.
Example:
  • Samsung Electronics is the flagship company of the Samsung Group.
  • Hitachi Solutions is the flagship company of the Hitachi Group.
  • Jindal SAW Ltd. is the flagship company of the O.P. Jindal Group.
  • Hindalco Industries Ltd., the metals flagship company of the Aditya Birla Group.


Various other important terms on "Flagship" used in the industry in relation to companies
  • FLAGSHIP STORE
    • Meaning
      • A Flagship store is usually the most important store of a company among various stores in a retail chain. Flagship stores are established to mainly promote the brand image of the company by showcasing of the products and/or services of the company in these stores in the most attractive way.
      • Flagship stores' premises are not only huge but also are best quality stores of the company, as for the establishment and maintenance of which company generally spends a lot of funds. Its premises are mostly huge as it holds large quantity / high value merchandises in it with variety of products.
      • Flagship stores play a vital role in the retail brand strategy of a company.
      • Here another important aspect to be noted is - flagship stores are generally opened in high profile locations.
    • A.k.a.
      • Flagship stores are also called as Flagship shops.
    • Example
      • Apple has built several stand-alone "flagship" stores in high-profile locations viz.  Amsterdam, Berlin, Chicago, Edinburgh, Geneva, Hong Kong, London, New York, Osaka, Paris, Shanghai, Sydney, Tokyo, Toronto, Turin, and many other such kind of locations. 

    • FLAGSHIP ASSET
      • Meaning
        • An asset, which is the most important / profitable / valuable asset for a business.
        • These assets are very important for the company as they contribute most to the bottom line of the company i.e. to the net earnings or net profit of the company.
        • In most cases the worth of the asset is very high.
      • A.k.a.
        • A flagship asset is also known as the "trophy asset" / "marquee asset" / "crown jewel".
      • Example
        • A company has got 100 production units across country, but out of them 5 units do really well and manufacture the maximum products with minimal damages. These 5 units is considered most valuable units by the company. Hence, these 5 units can be called as the Flagship Assets of the company.
        • A company which is selling 10 different products, but among which 2 products are only contributing the most to the profit of the company. Then these 2 products would be called as the Flagship asset of the company.
    • FLAGSHIP BRAND
      • Meaning
        • Flagship brands are generally the products and/or services of a company which are most popular in the market.
        • These companies generally have several products and/or services but it is only the flagship brands whose sales have taken a peak in the market.
        • These companies' reputation depends on the market credibility of their flagship brands .
      • A.k.a.
        • Flagship asset is a similar term for Flagship brand.
      • Example
        • "Coca-Cola" is the flagship brand of Coca-Cola Enterprises (CCE), even though CCE sells other most popular beverage brands in the world viz. fanta, sprite, etc.
    • FLAGSHIP PRODUCTS / SERVICES
      • Meaning
        • Flagship product or service is the product or service of a company which identifies that company. That means among various other products or services a company offers, its flagship product or service is the well-known one among large section of consumers in the market.
        • Flagship product represents the brand value/brand identity of a company.
        • Flagship products are highly well designed products and are made very attractive as compared to any other product of the company.
        • Companies also do a lot of promotions and advertisements to market their flagship products wide across the country or even internationally.
      • A.k.a.
        • Flagship brand is a similar term for Flagship product.
      • Example
        • Windows and Office of Microsoft Corporation
        • iPod of Apple Inc.
        • Oracle database of Oracle Corporation


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