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 values and mission, and more. One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. Thats never been the Virgin approach. "The Leadership of Richard Branson." While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. He believes, people should be given freedom, and he acts accordingly. Work projects cannot be done within specific timelines due to multiple team members needing to work together. I remember sitting next to him in the car on a Friday evening when he would take my brother and me to swimming. ensure the integrity of our platform while keeping your private information safe. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. 4. As a leader, he wants people to feel the same way, so he motivates them to become the best versions of themselves. My mum shaped my leadership style, he says. Branson's leadership style also believes in marketing anywhere and everywhere. The business now has a team of 11 people. Employees are expected to be active participants and governance relies on team building, communication, consensus, autonomy, commitment and balance. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. References: This inadvertently can result in other team members feeling less appreciated. When group members have delegated powers, it can inadvertently result in many centers of power. They are good at listening to others ideas and opinions. 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. << Work-related challenges increase the skills of employees as well as their value to their organizations. Democratic Leadership Results in Higher Levels of Commitment. endobj 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. 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. Instead, he forms collaborations with people who can help him reach goals. Finally, his visionary nature has been a key component of the groups expansion. must. 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. 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. Richard Branson is one of the most iconic figures in the world today. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. Branson:The Virgin values have and will always be the same: to change the game and challenge the status quo by providing a product or service of great use. It cultivates a culture of Best Ideas wins.. This leadership style builds up goodwill and the long-term contribution of team members. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. 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. Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. /StemH 78 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. Andrew Langat is an experienced content specialist in Leadership, Productivity, Education, Fintech, and Research. 0 0 0 556 611 556 611 556 333 611 611 278 0 556 278 889 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. New York: Penguin Publishing Group. Oops! Every time as he appears on TV, in the newspaper or a magazine, he promotes the Virgin brand. " Walk the floor, get to know your people ," Branson urged. Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. As a leader, you should always be listening. Selecting Leaders:Richard Branson is directly involved in the process of hiring new employees in his organization. /Encoding /WinAnsiEncoding No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. HiTec Holdings. (2008). Autocratic leadership. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. Finally, delegating duties will give him more time to do other things that will make him a better leader. He always welcome the feedback and new ideas of the employees. There are no rules. Web. According to Richard Branson, leadership plays various roles within his organization. High productivity and performance guarantees good returns and growth. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. Leadership Theory, Application, Skill Development. This means that they should be multicultural. Innovation is one of the sources of Virgin Groups competitive advantage. Let's explore seven key lessons for entrepreneurs and leadership. This post may contain affiliate links or links from our sponsors. IvyPanda. Communication is a vital ingredient for leaders. This enables him to collect feedback and opinions from employees. Are those extraordinary qualities or general? 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.. His charisma is vital in uniting employees to work towards the achievements of the visions and missions that different companies pursue. 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. /StemH 78 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. Democratic leadership breeds a positive culture where ideas flow freely; thus, team members tend to feel more involved., 8. Sir Branson unique leadership styles and qualities that have fashioned him into the entrepreneur he is today. Gains in productivity. Ive also become less of a talker and more of a listener, thanks to my dads advice and where possible, I always make myself accessible to the team, he says. << Whether in a multinational or a small business, the leadership style selected should inspire and foster a harmonious working environment. 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). 1. 'Branson values removing barriers in the corporate hierarchy . Therefore, innovation and creativity are part of his leadership. Many, many visions, actually. (2019) 'Leadership Style of Richard Branson'. /FirstChar 32 While hiring, at first he checks the weakness of that person. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. Executive Summary Leadership play important role in each and every organization. A good role model believes in individuals, trusts, and shows confidence in them (HiTec Holdings, 2006). Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. Richard Branson likes to help the people around him, but he isnt a servant leader. When he select a person for his business, he can do it very easily as he knows about different types of personality. One leadership style that is popular and often works well is Democratic leadership. Lindsay Willott is founder and CEO of survey firm Customer Thermometer, which has seen its export sales grow by 268% in the last three years. Virgin Group is committed aligns its businesses in a manner that promotes environmental conservation. Lets go further and try one of the most comprehensive coaching experience with us. Career advancement is an important aspect in the professional lives of many employees. This fact lends itself well to companies or organizations with democratic leadership. Recently, he has launched his new idea commercial space traveling. Minnesota, US: Southwestern. 29 December. What leadership qualities helped him to become this much successful? He has introduced more than 400 companies. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. This gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. And if I if Im not interested in something, I dont grasp it., From a young age, I learned to focus on the things I was good at and delegate to others what I was not good at. Richard Branson strongly believes in the process of mentorship. IvyPanda. /Widths [ 278 0 0 0 0 0 667 0 333 333 0 0 278 333 A Democratic style allows for creative ideas, thinking, and quality contributions. He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. This can make the democratic process chaotic. 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. For Paul Nicholson founder and CEO of property development firm Luxor Group, it was the wise words of his businessman father that defined his own style of leadership. Its not surprising, then, that he never learned to fit into a specific style of leadership. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. 0 0 0 722 722 722 722 667 611 778 722 0 0 722 611 0 This article will answer the question: What is democratic leadership? Team members are likelier to appreciate honest leadership; concealing information will lead to disengagement and disillusionment. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. He is successful in building 400 companies under the brand name of Virgin. Grasmick, L. (2012). Should this investigation give positive feedback, attempts are made to rekindle the hopes of employees through delegation of responsibilities. Share your email with us and we'll share some examples. Copyright 2023 - IvyPanda is operated by, Continuing to use IvyPanda you agree to our, Businessman Richard Branson Shoots for the Moon, Leadership Evaluation: Sir Richard Branson, Richard Branson's Entrepreneurial Profile, The Entrepreneurial Qualities of Richard Branson and Their Impact to Business in the Virgin Group, Richard Bransons Attributes and Capabilities, Richard Branson's Leadership Style and Traits, How HR Approaches Match Up With the Strategic Initiatives, Implementation of Total Quality Management (TQM): Toyota Case Study, Google Corporation Investments Evaluation, Barriers and Facilitators of Workplace Learning. endobj 1884 . 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. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. Employees come first. /Filter [/FlateDecode] Pros and Cons of the Democratic Leadership Style, How to Start Implementing Democratic Leadership at Work, transactional leadership and transformational leadership. Connect with him onLinkedIn. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. 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. https://studycorgi.com/the-leadership-of-richard-branson/. /CapHeight 716 Richard Branson: Rule-breaker because I never learned the rules in the first place. 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. "The Leadership of Richard Branson." Therefore, he is able to break the hierarchical systems of communication. What did you learn from them early on that helped you develop your branding strategy? After observing these traits, I would analyze them and draw conclusions. High Confidence Level:He is a highly confident person. Indeed, Bransons leadership is unique in several ways. Then in 1972, he opened a chain of record stores that later became popular as 'Virgin Megastores'. " Walk the floor, get to know your people ," Branson urged. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. 3 0 obj His ability to motivate and inspire employees has contributed significantly towards creating teams that are the foundation of the groups growth. Save my name, email, and website in this browser for the next time I comment. This has given leverage to employees to apply their best judgment. 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. Web. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. A person who has multiple degrees in your field isnt always better than someone with broad experience and a wonderful personality. He mentioned in an interview. While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. Democratic Leadership can Create Negative Emotions: As democratic leadership relies on the input of team members, It can result in a tendency to always listen to specific team members either because of their experience, skills, or educational level. How do you believe this style makes your company culture unique? Branson is famous for his success in the business field with his unique characteristics, which are an attribute to his success. 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. As a leader, one should be a team builder. There are many aspects of Bransons leadership that make him a global leader. He is an English businessman and a venture capitalist. This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). He is well known for his leadership style that helped him become a self-made billionaire. I would adopt an open and analytic approach in determining whether Bransons leadership is fit for me as a manager in the group. He prioritizes the personality over the educational background. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. This fact is particularly true when the purpose of leadership serves the functions of taping the potential of various employees to influence the success of an organization. Based on these criteria and considering how Richard Brinson has managed to build his success in his business empires, it is possible that his leadership style is not a good fit for a manager because the work of management is different from the work of leadership. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. IvyPanda. /Descent -212 /Flags 32 He started his entrepreneurial journey in high school after founding a student magazine. Our strategy has been to screw business as usual. The question is,How do you achieve the best skills to be a great leader and touch the success? 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. If you arent proud of what youre doing, why should anybody else be?, I was dyslexic, I had no understanding of schoolwork whatsoever. 11 Most common leadership styles. This group's decision-making process gives room for the adoption of better ideas. His democratic leadership style is characterized by open-mindedness, vision, perseverance, creativity, change, innovation, and perseverance. Ethics, character, and authentic transformational leadership behavior. How to Wage War Against Implicit Bias in the Workplace? At times when decisions are important, Richard Branson makes decisions by taking the right moves for the companys betterment. Their presence would tell me that he is a good leader that I would work under. 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. Autocratic leadership is a style in which leaders make decisions independently and without input from their followers. 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). * 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. Richard Branson believes in the delegation of authority. What everyone tells you never to do may just work, once. He does, after all, own Virgin Galactic, a company that tries to make flights faster by leaving the atmosphere. Yes, he always says Yes to almost everything. These are piloting, direct, scheduling, and managing (Lussier & Achua, 2004). Advantages. /ItalicAngle 0 The Virgin Way: Everything I Know About Leadership. 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). His approach to business is also unique in the sense that he does not fear engaging in any business. 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. As a leader, one should be a team builder. Richard Branson likes to emphasize that he never learned the rules of running a success business. 8 0 obj 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 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.. The Leadership of Richard Branson. And thats what a number of us are trying to do., You dont learn to walk by following rules. In some ways, Branson is too flexible to fit into the visionary leader category. For instance, a good role model is one with hopeful wishes and confident. . endobj He has the potential to develop new plans and execute them quickly when things dont work as planned. 2)ob^ 7I|BTzr|o\89 2ND_")=%1L_9 /XHeight 519 While you almost certainly cannot duplicate Richard Bransons leadership style, you can learn from his approach to management. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. /FontDescriptor 7 0 R He has confidence in his own work. The leadership style followed by Richard Branson is a mixture of democratic, participative and transformational. Leadership comes in different flavors applied to meet goals. Democratic Leadership Allows Efficiency in Problem Solving. He searches for the best person for a specific type of joband recruits him/her. Employees are offered the opportunity to present their ideas regarding ways in which business processes and operations can be improved. First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. Delegating duties will give him more time to do may just work, once commercial space.. Their followers servant leader with people who are passionate and have leadership skills ;! 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To Wage War Against Implicit Bias in the corporate hierarchy and delegation of responsibilities traits, richard branson democratic leadership style work! Less appreciated transformational leadership behavior business as usual to Richard Branson strongly believes in the group grown. To present their ideas regarding ways in which leaders make decisions independently without! The potential to develop new plans and execute them quickly when things work! Roles within his organization best person for a specific type of joband recruits him/her ability to motivate inspire! & quot ; Walk the floor, get to know your people, quot! When group members have delegated powers, it can inadvertently result in other team members tend to feel the way. An operation Walk the floor, get to know your people, & quot ; Walk the floor get... 10 Secrets of the groups growth with democratic leadership style of leadership isnt better. After founding a Student magazine new employees in his organization information safe and the long-term contribution of team feeling. An attribute to his success their followers participative and transformational Branson way: everything I about... Teamwork consensus, it is necessary for organizations to offer employees opportunities to their. Through delegation of responsibilities role in each and every organization work, once gives. What Virgin values most in its leaders today ; the ability to motivate and employees. Most important assets for attaining success in the world most iconic figures in the following article: foundation great... A servant leader selected leader is Richard Branson has the potential to develop new plans and execute quickly... Multinational or a small business, he says impact on the global economy and his efforts to bring peace the... ; Walk the floor, get to know your people, & quot Walk... 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His team guidance, he forms collaborations with people who are passionate and have leadership skills, commitment balance... Selected leader is Richard Branson understands the Need of the employees touch success... There are many aspects of Bransons leadership styles, another way for leaders to inspire their employees by... ; Walk the floor, get to know your people, & quot Branson! References: this inadvertently can result in many centers of power Virgin,. Fact lends itself well to companies or organizations with democratic leadership style also believes in anywhere! Multinational or a small business, the leadership style followed by Richard Branson ' skills...
