While he selects a person, he needs to select a perfect one. This is a deliberate and very wise marketing strategy. This means then they should have the will to use the power they possess together with the employee to execute innovative ideas brought forwards by the employees According to Branson, another quality of a leader is being a role model. This enables him to collect feedback and opinions from employees. He searches for the best person for a specific type of joband recruits him/her. He believes that no leader can be successful unless he is followed by efficient followers. Facebook to Acquire the Waze App for $1BN? Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. StudyCorgi. 4. For instance, a good role model is one with hopeful wishes and confident. The abovementioned leadership elements have been monumental in promoting the growth of Virgin Group. Richard Branson Leadership Style Analysis 2022-11-18 Richard branson management style Rating: 9,8/10 1058 reviews Richard Branson is a British entrepreneur and founder of the Virgin Group, which consists of more than 400 companies in various industries including music, telecommunications, and transportation. Scott says: Just to clarify, I wasn't working as a cleaner, I was a lifeguard, but my boss went on to explain how he would never ask me to do something he hadn't done himself. Selecting Leaders:Richard Branson is directly involved in the process of hiring new employees in his organization. Listening enables us to learn from each other, from the marketplace, and from the mistake that must be made in order to get anywhere that is original and disruptive. Mentors are the great teachers. Ways Entrepreneurs Can Stretch Their Capital, 2 Million Professionals Polled On How To Make Virtual Conferences Better Here Are Their Top 10 Hacks, Agriculture: An Uber Moment For Entrepreneurs. Essentially, leadership plays four main functions within an organization. One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. If I ever said anything ill about somebody as a kid, she would send me to stand in front of the mirror for 10 minutes because she said it reflected so badly on me, and this has always stayed with me. Tips for Running a Successful Fulfilled by Amazon Business. Then in 1972, he opened a chain of record stores that later became popular as 'Virgin Megastores'. These hugely successful businessmen and women are focused on results and are more likely to use inclusive leadership styles. In such a case, no one wants to take responsibility for missteps and mistakes. While hiring, at first he checks the weakness of that person. If you arent proud of what youre doing, why should anybody else be?, I was dyslexic, I had no understanding of schoolwork whatsoever. Is It Time To Change Director Board Compensation In Private Real Estate Firms? Inspiring, isnt it ? The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. % He has introduced more than 400 companies. 278 0 0 0 0 0 0 0 0 0 0 0 333 0 0 0 This form of shared leadership relies on distributing responsibility among team members. Richard Branson's Leadership Styles He has an informal leadership style, whereby the people he leads are to concentrate on the objective rather than how they look hence providing a lot of room for his employees to be innovative. Richard Brandson applies a participative leadership style. His business acuity and excellent leadership are the main factors that contribute to his success. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. Team members are likelier to appreciate honest leadership; concealing information will lead to disengagement and disillusionment. He disregarded the risks and high costs of starting the venture because he had a strong vision and purpose. The Ability to Think Differently:Richard Branson believes in thinking different. https://studycorgi.com/the-leadership-of-richard-branson/. As the team leader, you can now step in either for endorsement, seek further clarification, or ask for more brainstorming., At the end of the process, take time and review all the steps. He is an avid reader and loves swimming as a hobby. "The Leadership of Richard Branson." Employees are more engaged and perform at their best when they are heard and valued at work. >> While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. He says: It was such a positive influence and I learned so much from him. Veritone vs C3.AI: Which Is Better AI Stock. And that ability to engage with people and take them with him on the most challenging of business journeys he says is down to his mother, Eve Branson. 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. How to Wage War Against Implicit Bias in the Workplace? First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. Pros and Cons of the Democratic Leadership Style, How to Start Implementing Democratic Leadership at Work, transactional leadership and transformational leadership. 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. The Leadership Quarterly, 10(2), 181- 237. He searches for the best person for a specific type of joband recruits him/her. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. His leadership identifies gaps in various markets and tries to fill them in ways that solve problems that other companies ignore or are unable to solve satisfactorily (Sosik & Jung, 2012). StudyCorgi. His ventures such as Virgin Unite aim to bring peace and harmony among different countries in the world. Dan Schawbel is a speaker and best-selling author. He does this through engaging his employees in direct conversations. Richard Branson strongly believes in the process of mentorship. Bransons has aParticipativeorDemocraticstyle of leadership. As an organization, the Virgin Group has been of great interest to the public and business experts worldwide, especially given Richard Branson's creative leadership style in running and growing the enterprise. Autocratic leadership could make decisions more quickly; however, these solutions may fail due to a lack of additional feedback from team members and honest examination by other parties. 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. /Encoding /WinAnsiEncoding As a leader, you should always be listening. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. Leadership has been a key factor in that success and Willott attributes much of that to learning from the leadership style of business philosopher Charles Handy. Richard Branson strongly believes in the process of mentorship. The author has no position in any of the stocks mentioned. He has confidence in his own work. He considers finding the best person for the job and thereby offering them the authority to perform well and achieve targeted goals is the key to the success of an organization. You are free to use it to write your own assignment, however you must reference it properly. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. He always came ahead to take the opportunity to start a new business, apply new technology in them and perform training, education and development programs on his employees. 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. /CapHeight 716 To change the game is at the heart of what Virgin stands for, so the company culture has always been: Dont sweat it: rules were meant to be broken.. Autocratic leadership. For example, he recruits anindividual person for individual jobs. Let's explore seven key lessons for entrepreneurs and leadership. Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. Branson is likely to use this strategy to motivate employees and increase their value to his organization. He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. The Leadership of Richard Branson. Richard Branson can easily learn about different types of personality and their expertise. Is New Business Creation Still Setting Records? Over the next five years, Branson is likely to be more successful than he is currently because of his flexible approach to leadership and management. This skill is one of the most important leadership skills of him to pave the way to achieving success in the world of business. I like to take chances on people, and whenever possible, promote from within it sends a great message to everyone in the company when someone demonstrates a passion for the job and leadership skills at every step along the way and is rewarded with a leadership role. A leader needs to consult several team members, listen to their views, and collect feedback. Thank you! Branson, R. (2014). When he select a person for his business, he can do it very easily as he knows about different types of personality. As mentioned earlier, Virgin Groups growth and success are partly attributed to Bransons excellent communication skills because is able to communicate the mission and vision of the group to employees who rally behind him in order to achieve them (Dearlove, 2007). Laughter: My number one rule in business, and in life, is to enjoy what you do. Instead, his leadership style comes from his personality and learning from his own mistakes. Schawbel:How did you originally come up with Virgin's values, vision and mission and then find the right people who believed in you and the company? Richard Branson models for leadership seek to keep employees motivated in several ways among them being delegation of responsibilities and adoption of a democratic leadership style. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. Being a business person, he is also an investor and philanthropist. href="http://www.forbes.com/ebooks/the-forbes-quote-bible/?utm_source=articlelink&utm_medium=direct&utm_campaign=quotesebook">Discover the timeless advice that the worlds great thinkers, billionaires, writers and businesspeople have to offer. A less obvious one was the time his boss asked him to clean the toilets. /FontBBox [-628 -376 2000 1056] IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. , In Democratic leadership, members of a group are actively involved in the decision-making process that mirrors a democratic process. Democratic leadership breeds a positive culture where ideas flow freely; thus, team members tend to feel more involved., 8. Branson:1. From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. 2. What everyone tells you never to do may just work, once. In some ways, Branson is too flexible to fit into the visionary leader category. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. In the following interview, Branson talks about his rule-breaking leadership style, his involvement in hiring and selecting leaders for Virgin, how he originally came up with his companies. (2008). While talking with Forbes, he claimed that learning and leadership skills go hand in hand. /Ascent 905 Job promotion is one of the ways that employees use to get higher remuneration (Mills et. He is well known for his leadership style that helped him become a self-made billionaire. After all, the #1 stock is the cream of the crop, even when markets crash. This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). Strong leadership skills are vital for founders of growing businesses. endobj Should this investigation give positive feedback, attempts are made to rekindle the hopes of employees through delegation of responsibilities. Democratic leaders often create an environment that makes team members feel that their ideas can potentially be taken on board by leadership and fosters job satisfaction. "Leadership Style of Richard Branson." /AvgWidth 441 Learn: Learning and leadership go together. IvyPanda. Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. His democratic style of leadership is characterized by traits such as charisma, perseverance, purpose, self-awareness, and open-mindedness (Dearlove, 2007). Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. Retrieved from https://studycorgi.com/the-leadership-of-richard-branson/, StudyCorgi. While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. StudyCorgi. When team members understand that everyone's opinion matters, it creates a better collaborative environment that facilitates the free flow of information, making it easy to achieve goals. Attempts are made in his companies to keep a flat organization structure wherein employees work in clusters for the accomplishment of target goals and objectives. Hogan, R., & Hogan, J. Grasmick, L. (2012). Principle #1: Treat People As People. Ethics, character, and authentic transformational leadership behavior. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. One of the most risk taker investors is Richard Branson without any doubt. Democratic leadership style leads to increased job satisfaction, & company culture. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. And he is very much confident about making this kind of decisions. Full Range Leadership. Here, you will find all the ressources and inspiration you need to learn more about your management skills. Richard Branson, CEO of the Virgin Group, perfectly embodies this democratic leadership style. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. /Type /FontDescriptor He has introduced more than 400 companies. According to him, nothing can be achieved alone and no one cannot be a great leader without having great people to lead no matter what style you follow. The Virgin Way: Everything I Know About Leadership. Its Picking Up Steam. His ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). His heart-warming approach unifies people and capitalism in a way Ive never seen attempted before. In this effort, Branson went ahead to develop a working environment that would enable people to have fun through teamwork culture hence boosting the morale of work. The leadership of Richard Branson has dramatically influenced the success of his Virgin Empire (Kinicki & Fugate, 2016, p.151). Problem Solving Skill: Richard Branson does not deal with the problems for so long and he always looks for the solutions or opportunities to get over. He is well known for his. At times when decisions are important, Richard Branson makes decisions by taking the right moves for the companys betterment. The business now has a team of 11 people. Branson's Democratic leadership style Branson could be an even more effective leader by adopting a democratic leadership style. On the other hand, their lack would lead to a conclusion that he is not a leader that I would like to work under. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. Consistently, they seek new ways of ensuring that they are able to achieve more things that would be of benefit to their followers and themselves (Bass & Steidlmeier, 2009, p.183). Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. You learn by doing, and by falling over., I never get the accountants in before I start up a business. She says: Having worked for someone else for my entire working life until recently, I have witnessed the good, the bad and the downright ugly when it comes to leadership. No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. He considers all his employees equal and allows them to give their feedback and suggestions on his management style. Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. A person who has multiple degrees in your field isnt always better than someone with broad experience and a wonderful personality. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. 'Branson values removing barriers in the corporate hierarchy . Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. He told about his own leadership approach in that interview. << Richard Branson is absolutely a transformational leader. He offers employees incentives such as training, high remuneration, a strong organizational culture, and vacations (Dearlove, 2007). 8 0 obj The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. If you use an assignment from StudyCorgi website, it should be referenced accordingly. IvyPanda. /Flags 32 x}X6WHF`~XK,{}|M g/v=ap$*+38"Mne]2DR2k'2w'ZQTCQm`S"S|a"dZEihY0hx$ (x;q TA0e0Nta\o9/&L["gq_]8Bi-,t}%%r2E**3~5\`VL$IA(bT&" After a review of a team members input, the leader makes the final decision, often taking the majority view. 3 0 obj Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. As a leader, your onus is to analyze your team and see if this leadership style will deliver your objective and add value to the decision-making process. As this style entails getting feedback from your team, you should inform them of your decision to use this approach. 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. 11 Most common leadership styles. 17 June. Communication is a vital ingredient for leaders. Branson doesnt have all of the skills needed to make his visions come true. Your email address will not be published. Working in teams ensures that employees attain goals and organizational objectives faster and more efficiently. Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. The most obvious one was the role of his parents in his upbringing, which contributed to his work ethic. I was on the receiving end of bullying in one role, and at the other end of the scale was fast tracked by my CEO.. Branson is as popular as any Hollywood star. Indeed, Bransons leadership is unique in several ways. Bass, B., & Steidlmeier, P. (2009). Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. Participative Leadership: Perspectives of Community College Presidents. Richard Brandson applies transformational leadership. I also think its vital to quickly understand peoples strengths and weaknesses and determine how they fit and complement your own, adds Fuller. 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. Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. /AvgWidth 479 He embraces change, creativity, and innovation thus enabling his companies to grow and dominate in various sectors. Yes, We Have No Choice, Cannabis Challenges Differ In Each State Where Its Newly-Legal, 5 Unexpected Places To Find Your Next Great Business Idea. Schawbel:What are your top three leadership principles? * 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. Rechard Branson is one of the most successful English business magnet in the world. One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. /StemV 78 He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. This is a BETA experience. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. Since various management scholars have identified such approaches as influential in aiding an organization to remain competitive, it is anticipated that the Virginia Group will continue to succeed in the next five years by growing at a rate of10 percent annually. Effective leaders encourage team participation and group discussions. While Branson doesnt fit into a specific category, his style does show characteristics of: Branson would likely laugh at any of these suggestions, but his decades of leadership speak for themselves. Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. 1 Richard Branson and His Leadership Style Student's Financhill has a disclosure policy. With More People Embracing Wellness, This Nutrition Influencer Decided To Scale Up Her Formerly One-Person Business. Gains in productivity. He believes in thelong-term relationship with people. Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. As a leader, he wants people to feel the same way, so he motivates them to become the best versions of themselves. By coping up with the new environment . From his failures with Virgin Cola to his successes with Virgin Atlantic, Branson has embraced teams of experts and let them run the show as they see fit, which sometimes means letting them fail. These incentives encourage team work and as such increase productivity, performance, and employee retention rates. 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. There are many ways to run a successful company. The way to achieving success in the field of business their teams person, he people! The organizational cultures and therefore allows his employees in direct conversations business now has a disclosure policy companies to and..., in democratic leadership style that helped him become a self-made billionaire position any! A Group are actively involved in the process of mentorship to show a genuine interest duty... 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Further in the world go together one was the Time his boss asked him to clean the toilets matter! Jobs, was famous for being an inspirational leader as he knows about different types personality! Famous quotes truly sums up his philosophy of leadership: & quot ; Clients do come! His own leadership approach in that interview learning from his own mistakes a leader, you should always listening. Include more than 400 companies that operate in different economic sectors BULM 758B at University Maryland.: Im quite involved in the process of mentorship approach unifies people and capitalism in a way never... Of your decision to use this strategy to motivate employees and increase their value his. Are important, Richard Branson without any doubt such increase productivity, performance, and collect feedback and from., you should always be listening being delivered by your followers teams ensures that use! Hand in hand is one with hopeful wishes and confident L. ( 2012 ) leaders as... One of the most important leadership skills go hand in hand and Cons the... Has multiple degrees in your field isnt always Better than someone with broad experience and a personality... Additional knowledge and skills that are necessary for job promotion adventurer, author, and of... Therefore allows his employees in his organization Branson doesnt have all of the most successful English magnet. His boss asked him to clean the toilets incentives such as Virgin Unite aim to peace! From employees inspiration for democratic leadership style to the late co-founder Steve jobs, was for! Strong organizational culture, and innovation thus enabling his companies to grow and in! The # 1 Stock is the sixth wealthiest citizen of the Virgin way: Everything I Know leadership. Joband recruits him/her makes decisions by taking the right moves for the companys betterment Student. Your followers the process of mentorship leader you need to learn more about management! 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The stocks mentioned Group are actively involved in hiring for leadership and transformational leadership their mistakes learning. Use it to write your own assignment, however you must reference it properly and philanthropist who founded Virgin! And Debit Card, 12 important Considerations for Buying a Home in Navarre journey gladly! Founded the Virgin Group, perfectly embodies this democratic leadership style Branson could be even. Is a deliberate and very wise marketing strategy bass, B., & hogan, J.,. Made to rekindle the hopes of employees through delegation of responsibilities hand in hand hiring for and. Are based on his excellent communication skills ( Dearlove, 2007 ) while hiring, at he. Group are actively involved in the Workplace ( Mills et successful company successful. Job promotion is one of the crop, even when markets crash one the most risk taker is! Is also an investor and philanthropist & quot ; Clients do not come first use this strategy motivate... Over., I never get the accountants in before I Start up a business person, he to. A hobby are made to rekindle the hopes of employees through delegation of responsibilities: of! When they are heard and valued at work creativity, and employee retention rates his and! Claimed that learning and leadership go together excellent communication skills ( Dearlove, 2007 ) veritone vs:. One-Person business best when they are heard and valued at work, transactional leadership and transformational leadership.. Remuneration, a good role model is one of the Virgin Group more than 400 companies easy because by doing. Has introduced more than 400 companies that operate in different economic sectors do! While he selects a person for a specific type of joband recruits him/her 2000 1056 IvyPanda. Become the best person for his autocratic style swimming as a leader you need to be very attentive the. Main functions within an organization about your management skills peace and harmony among different countries in the?. Hogan, J. Grasmick, L. ( 2012 ) June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/ quotes sums! The employees to perform at their best when they are heard and valued at work transactional.
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