If I were to first characterize his leadership style I would say he is definitely a democratic leader. The criteria for evaluation of the effectiveness of Richard Bransons leadership style need to be based on the existing scholarly finding of the functions of leadership and management in an organization. This skill is one of the most important leadership skills of him to pave the way to achieving success in the world of business. Leaders must be ready and open to ideas brought forward by employees. The leadership of Richard Branson has dramatically influenced the success of his Virgin Empire (Kinicki & Fugate, 2016, p.151). In an interview with Telegraph, he mentioned that thinking differently can set a person apart. Instead, he forms collaborations with people who can help him reach goals. 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. The database is updated daily, so anyone can easily find a relevant essay example. Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. Profiles of leadership. He believes that quality content should be actionable and helpful. 6. Listening is one of the most important skills that anyone can have. The Virginia Group is well aware that, in case it encounters situations that make people run away, and yet they are well remunerated, there must be an ample reason why this happens. A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). He is the founder of Virgin Group which has control over 400 companies. This fact lends itself well to companies or organizations with democratic leadership. Your email address will not be published. % >> 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. You need to have current information about the industry and the organization as well. Richard Branson is a British Business magnate and investor, best known as founder and chairman of Virgin Group. 1. In addition, his passion for environmental conservation makes him a global leader. Richard knows it too well that a good idea emanates from all people irrespective of their status in the organization. Richard Branson can easily learn about different types of personality and their expertise. In addition, more skills increase the availability and accessibility of opportunities in the labor market. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. While he selects a person, he needs to select a perfect one. "The Leadership of Richard Branson." In this end, Richard Branson has managed to embrace incredible motivational skills, which have realized immense increase in productivity of his Virginia Group of businesses. " Walk the floor, get to know your people ," Branson urged. 1 Richard Branson and His Leadership Style Student's 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. 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.. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. 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. Autocratic leadership. Leaders should communicate with people from different cultures. This can make the democratic process chaotic. Richard Branson is directly involved in the process of hiring new employees in his organization. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. 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. One of his most important leadership traits is vision. Recently, he has launched his new idea commercial space traveling. 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.. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. Richard Branson is well known for applying a fun, friendly and anti-establishment business environment wherein no rules or regulations hold the ability of the employees to perform well and enjoy their workplace. He likes to follow the SWOT strategy. Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. His visionary leadership led to formation of an intermediary company that links all companies. Bransons approach to employee motivation could work in a different organizational setting because all employees search for opportunities to advance their careers that are available through training programs and delegation of duties and responsibilities. Good leaders speak eloquently. They are good at listening to others ideas and opinions. Yes, he always says Yes to almost everything. 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). The Leadership Quarterly, 10(2), 181- 237. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. 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. Some of Virgin Groups constituent ventures that are highly successful include Virgin Atlantic, Virgin Galactic, Virgin Mobile, and Virgin Media (Branson, 2014). Leadership Skills of Richard Branson. (2020) 'The Leadership of Richard Branson'. Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. Richard Branson, CEO of the Virgin Group, is another democratic leader who empowers his employees to reach his company's goals. "Leadership Style of Richard Branson." 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. Experiences of bad management at work can also influence the way people approach leadership when they decide to launch their own business. Is It Time To Change Director Board Compensation In Private Real Estate Firms? Passionate people find their way to the Virgin Group, and when they do, we snap them up and try to keep them within the family. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. You can use them for inspiration, an insight into a particular topic, a handy source of reference, or even just as a template of a certain type of paper. Richard Branson is an English investor, entrepreneur, businessman, author and philanthropist who founded the Virgin Group, which includes more than 400 companies that operate in various economic sectors (Branson, 2014). Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. " Walk the floor, get to know your people ," Branson urged. He does, however, have a charismatic personality that gets other people excited about his ideas. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. Apart from incorporating different international standards and cultures into his business operations, he contributes towards the growth of the global economy. Career advancement is an important aspect in the professional lives of many employees. /StemV 78 He always welcome the feedback and new ideas of the employees. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. Too much credit goes to me for what we have achieved at Virgin but the successes happen from working and learning with some of the worlds most inspiring and inspired people. "The Leadership of Richard Branson." Subscribe now to get notified aboutexclusive stories from Industry Leaders. Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. Branson, R. (2014). This inadvertently can result in other team members feeling less appreciated. Lets go further and try one of the most comprehensive coaching experience with us. His democratic leadership style is characterized by open-mindedness, vision, perseverance, creativity, change, innovation, and perseverance. There are many ways to run a successful company. Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. Something went wrong while submitting the form. He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. << I learn so much from guests and employees that way. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). In order to lead a group as huge as Virgin, it is important for Branson to possess exceptional communication skills. Inspiring, isnt it ? 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. Your privacy is extremely important to us. Laughter: My number one rule in business, and in life, is to enjoy what you do. Richard Branson believes that a leader, being a team builder, should create teams or develop a cultural trend in an organization that will be suitable for all employees through reduction of disagreements. 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. He takes genuine joy in his work and loves challenging ideas. I would adopt an open and analytic approach in determining whether Bransons leadership is fit for me as a manager in the group. /CapHeight 716 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. Web. When team members offer their opinions on a subject, members are likely to endorse the best-suggested views. When someone does an excellent job, he praises them publicly to motivate others. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. This is IvyPanda's free database of academic paper samples. By coping up with the new environment . While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. 17 June. Schawbel:What is your process for selecting leaders at Virgin? It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. /Leading 150 IvyPanda. 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. IvyPanda. 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. He has introduced more than 400 companies. 'Branson values removing barriers in the corporate hierarchy . Yes, he always says Yes to almost everything. Sir Branson unique leadership styles and qualities that have fashioned him into the entrepreneur he is today. 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