Branson is an international entrepreneur, adventurer, icon, and the founder of the Virgin Group. A person who has multiple degrees in your field isnt always better than someone with broad experience and a wonderful personality. * Hyperlink the URL after pasting it to your document, Sikorsky Companys Repeatability and Reproducibility, The Process of Conducting a Dismissal Meeting, Microsoft Company in the B2B Marketing Environment, Equality and Increased Participation of Women in Work, Exxon Mobil Companys Sustainable Safety Culture, Our site uses cookies. This became possible because he continued to transform his businesses as per the changing needs and demands. Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. What type of leader is Richard Branson? Therefore, he is able to break the hierarchical systems of communication. A leader can select a set of ideas or blend ideas together. He has mastered the art of communication. endobj He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. IvyPanda. He says, If you ask any successful business person, they will always say they have had a great mentor at some point of the road. One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. Branson has been adopting a law-breaking approach in his leadership approach . Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. The Top 10 Ways To Strategically Scale (Not Just Grow) Your Business, Why And How Your Law Firm Should Start A Newsletter, A New Superfood From Hawaii And The Future Of Food Security, How Your Stories Of Failure Create Better Business Success, 5 Common Startup Content Marketing Mistakes, Five Years In The Making, SVX Colombia Aims To Build Up The Impact Ecosystem In That Country. November 5, 2020 by Amy Campos. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. "The Leadership of Richard Branson." % Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. This growth has been achieved through the deployment of unique strategies of leadership, which mesh the attributes of multifaceted organizations such as the Virginia group. Every business, like a painting, operates according to its own rules. 3 0 obj Connect with him onLinkedIn. 2. /Filter [/FlateDecode] Richard Branson can easily learn about different types of personality and their expertise. Democratic Leadership Results in Higher Levels of Commitment. There are no rules. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. According to the Forbes 2012 list of billionaires, Branson is the sixth richest citizen of the United Kingdom, with an estimated net worth of US$4.6 billion. Evidence of his leadership permeating a company can be seen by just about any Virgin Atlantic passenger, who is likely to have received a warm and welcoming customer experience when checking in or up in the skies. Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. As the founder of Virgin Group, Sir Richard Branson demonstrated a leadership style influenced by how his team members should be treated. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. What everyone tells you never to do may just work, once. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. Its done on gut feeling, especially if I can see that they are taking the mickey out of the consumer., Business opportunities are like buses, theres always another one coming.. He shares what he knows, but he also understands that people learn best from action. And that approach to leading people continues today. >> Fantastic people throughout the Virgin Group run our businesses, allowing me to think creatively and strategically., You get the idea. Such a culture is detrimental to the long-term success of an organization or company. Richard Branson, CEO of the Virgin Group, is another democratic leader who empowers his employees to reach his company's goals. Boosts Jobs satisfaction and motivation. After all, the #1 stock is the cream of the crop, even when markets crash. Every time as he appears on TV, in the newspaper or a magazine, he promotes the Virgin brand. Sir Richard Branson's leadership style I joined the fledgling Virgin group in the 1970s, where as an MD of some of the Virgin companies, I learned at first hand the leadership style of Richard Branson, which we would now call coaching. Richard Branson is one of the most iconic figures in the world today. a) A democratic leadership style is exhibited by Richard Branson. Consequently, his leadership models lack aspects of risk management. Id hear how he rewarded good staff, gave credit and thanks, empowered people by helping them to develop as leaders themselves, and encouraged them to learn from their mistakes.. While hiring, at first he checks the weakness of that person. << (2020) 'The Leadership of Richard Branson'. Being a business person, he is also an investor and philanthropist. << He has confidence in his own work. The Leadership of Richard Branson. Facebook to Acquire the Waze App for $1BN? This way an attempt is made to create a relaxing and productive work environment wherein new ideas originate and applied to improve the overall business productivity. Many of our products and services come about because we pay attention to what the market is missing or what's not being done well. Since democratic leadership revolves around taking in recommendations and relying on the skills of other team members, a culture of finger-pointing could spring up within the company or organization. A number of factors have helped define the leadership style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years. And the responsibility for me is to invest in creating new businesses, create jobs, employ people, and to put money aside to tackle issues where we can make a difference., A business has to be involving, it has to be fun, and it has to exercise your creative instincts., Through the right people focusing on the right things, we can, in time, get on top of a lot if not most of the problems of this world. "The Leadership of Richard Branson." 0 0 1015 667 667 722 722 667 611 778 722 278 500 667 556 833 He does this through engaging his employees in direct conversations. Branson's has a Participative or Democratic style of leadership. https://ivypanda.com/essays/leadership-style-of-richard-branson/, IvyPanda. A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). He is the founder of Virgin Group that encompasses more than 400 companies all around the world. The majority rules, but the whole group feels included. 2020. This stuck with me and has certainly influenced my leadership style. /Ascent 905 Community college journal of research and practice(1066-8926), 36 (2), p. 67. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. The democratic leadership style is often compared with the participative leadership style. he mentioned himself as a collaborative and democratic person. 1. I would look for certain traits that include honesty, creativity, humility, trust, ambition, and ability to embrace change as well as his willingness to listen attentively to people. They have the ability to listen to their employees. Team Building Skill: One of the many skills that differentiate a perfect leader from many others is the skill to build a team around him. His ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). /FontBBox [-628 -376 2000 1056] He believes that leadership is all about doing things that are right, as opposed to the approach of management of people that is deployed by many organizations that dwell on looking for mechanisms of doing things in the right ways. While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). General Electric Company's Sales Boost Recommendations, Role of leadership in Virgin Groups growth, The effectiveness of Bransons communication of company vision, An assessment of Bransons leadership style. By coping up with the new environment, Richard Branson is apt to face the challenges whilst creating innovative ideas to succeed in the business. << It also ensures that people abide by values that encourage growth of an organization through integration of organizational behavior. According to Richard Branson, leadership plays various roles within his organization. His open communication policy will ensure that employees express themselves and present their grievances that could be major sources of job dissatisfaction and poor performance. Richard Branson likes to help the people around him, but he isnt a servant leader. When group members have delegated powers, it can inadvertently result in many centers of power. The main leadership styles applied today include , Autocratic leadership, Democratic leadership, Delegative leadership, Servant leadership, laissez-faire leadership, transactional leadership and transformational leadership, A leader may opt for a technique based on prevailing leadership and management culture, nature of work, mentoring, or after attending executive coaching programs.. Virgin Group owns about 400 companies. He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. This report on Leadership Style of Richard Branson was written and submitted by your fellow While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. His views on company management and leadership are truly innovative and he is an entrepreneur who is constantly pushing the boundaries in his business ventures. Indeed, Bransons leadership is unique in several ways. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. His perspective reframes these failures as learning opportunities that make individuals, teams, and businesses more successful. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. There are many aspects of Bransons leadership that make him a global leader. Schawbel:What is your process for selecting leaders at Virgin? Democratic leadership style was first expounded by Kurt Lewin together with R.K white and R. Lippit when they identified three distinct leadership styles after a series of experiments. He started his entrepreneurial journey in high school after founding a student magazine. Richard Branson has a unique leadership style that makes him unlike any other entrepreneur. Democratic leadership style, by its very nature, prioritizes honesty, so using this style of leadership brings in all the advantages of openness between a leader and team members. Minnesota, US: Southwestern. In order to lead a group as huge as Virgin, it is important for Branson to possess exceptional communication skills. "Leadership Style of Richard Branson." /AvgWidth 479 Lets go further and try one of the most comprehensive coaching experience with us. Richard Brandson applies a participative leadership style. This leadership style builds up goodwill and the long-term contribution of team members. endobj This way consistent efforts are made by Richard Brandson to improve his business processes with new-age technology and highly skilled employees so that they could compete with the rising competition in the market and help the sustenance of the business. To bring success to your business as well as to be a successful business leader you need to have a wide range of qualities and skills. The business now has a team of 11 people. Therefore, innovation and creativity are part of his leadership. Democratic leadership ensures all employees on the team are heard because they can freely express their opinions, and provide inputs for important decisions that affect them. 3. This happens since democratic leadership relies on consensus. Thank you! The most obvious one was the role of his parents in his upbringing, which contributed to his work ethic. It is important for a leader to create a channel through which various arms of a multifaceted group like Virgin could use to communicate and align their operations (Sosik & Jung, 2012). To be the Best Source of Business Strategy & Analysis. He is well known for his leadership style that helped him become a self-made billionaire. Grasmick, L. (2012). /Encoding /WinAnsiEncoding He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. He was born in the year of 1950. Richard Branson has a good leader-member relations and treats his employees respect, like his own family, even to the extent of giving invitations to his junior members for home for parties (Dearlove 2007). Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. Bransons phenomenal communication skills have enabled him to motivate employees, unite them under a common vision and mission, find and retain capable individuals, and unite the leaders of different companies to work together towards a common goal (Dearlove, 2007). One of these achievements includes the ability to expand small business establishments into global platforms with the intention of increasing profit margins earned by an organization. When I set up Virgin Records, I even decided to separate myself physically from the company, by moving into a houseboat., As a business leader, you need to listen and learn new things in every step. Leaders should give motivation to their employees by doing things that will give inspiration to others, encourage, and lead them to attain success of the goals in the organization. Employees are more engaged and perform at their best when they are heard and valued at work. Richard Brandson applies transformational leadership. Transformational leadership is a leadership theory where a leader works with followers to identify the changes needed, create a vision through inspiration, and execute the change with a group of highly committed followers. He doesnt expect everything to fall into place the first time, though. This inference is justified by the actual realization of efforts of expanding the Virginia Group to become a collection of successful business empires ranging from airlines to other service sector businesses, with all of them having a global appeal. From the student life, he has been commencing new companies. Richard Branson, founder of Virgin Group; Jeff Bezos, founder of Amazon; Use the 6 Levels of Delegation to Become a Better Leader . The Ability to Delegate:Richard Branson believes in thedelegation. With the helps to this business firm make motivated to their employees for giving better performances. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. Work-related challenges increase the skills of employees as well as their value to their organizations. << 611 611 611 0 389 556 333 611 556 778 0 556]>> In an interview with Telegraph, he said, I have always believed in the art of delegation finding the best possible people for Virgin and giving them the freedom and encouragement to flourish. Consequently, his leadership style that makes him unlike any other entrepreneur co-founder jobs. ( Dearlove, 2007 ) that it confers additional knowledge and skills and their expertise crop, when... Per the changing needs and demands $ 4.6 billion and owns 400 companies all around world... 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