/Length 2153 Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. /FontName /ArialMT StudyCorgi. After a review of a team members input, the leader makes the final decision, often taking the majority view. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. What Might That Mean For The Economy? The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. Richard Branson strongly believes in the process of mentorship. Honesty is Prioritized in Democratic Leadership. You are free to use it for research and reference purposes in order to write your own paper; however, you His approach to business is also unique in the sense that he does not fear engaging in any business. IvyPanda. While these skills can be honed through training, coaching and mentoring, it is an entrepreneurs individual style of leadership that determines their success, and this can be moulded by many different factors. When I set up Virgin Records, I even decided to separate myself physically from the company, by moving into a houseboat., Willingness to Listen and Learn:As a business leader, you need to listen and learn new things in every step. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. She says: He has always written about businesses being a force for good in the lives of employees and customers and Ive tried to apply that philosophy in the businesses Ive founded. /BaseFont /Arial-BoldMT Financhill has a disclosure policy. By showing his appreciation for hard work, he keeps everyone focused on their tasks. He told about his own leadership approach in that interview. Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. He thinks each person should be given responsibility according to his/her own interest and expertise. Richard Branson likes to help the people around him, but he isnt a servant leader. 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. He thinks each person should be given responsibility according to his/her own interest and expertise. IvyPanda. https://studycorgi.com/the-leadership-of-richard-branson/. Working in teams ensures that employees attain goals and organizational objectives faster and more efficiently. New York: Taylor & Francis. Branson management style and leadership skills were learnt in his day-to-day duties and interaction with people. 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). 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.. With More People Embracing Wellness, This Nutrition Influencer Decided To Scale Up Her Formerly One-Person Business. Running a business involves long hours and hard decisions; if you dont have the passion to keep you going, your business will more than likely fail. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. In such a case, no one wants to take responsibility for missteps and mistakes. Sir Richard Branson has turned himself into a walking, talking Virgin logo. 9 0 obj Yes, he always says Yes to almost everything. 2. (2020, December 29). He does, after all, own Virgin Galactic, a company that tries to make flights faster by leaving the atmosphere. Based on the current performance of a leader, individuals stand a better chance of predicting the kind of leader one would be in the future. How to Wage War Against Implicit Bias in the Workplace? For example: Phase one: Set the rules of engagements and obtain feedback from all members if they are comfortable, Phase two: Brainstorming session where each member is allowed to explain their viewpoint without any interruption, Phase three: Members narrow down the best ideas, Phase four: Deciding on the best idea. This is evident from his decision to venture into businesses that operate in different economic sectors. What is the best course of action when consensus is not realized. He says: It was such a positive influence and I learned so much from him. What did you learn from them early on that helped you develop your branding strategy? Branson is a risk taker and a lover of challenges. Leaders must be ready and open to ideas brought forward by employees. /MaxWidth 2000 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. Consequently, his leadership models lack aspects of risk management. 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. Richard Branson is absolutely a transformational leader. /Filter [/FlateDecode] "The Leadership of Richard Branson." Opinions expressed by Forbes Contributors are their own. London: University of Toronto. 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). And that approach to leading people continues today. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. 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. He has a collaborative management approach that empowers his employees to reach the goals of the organization. The Ability to Delegate:Richard Branson believes in thedelegation. /AvgWidth 441 It normally involves sending and receiving of messages. You learn by doing, and by falling over, and its because you fall over that you learn to save yourself from falling over. /ItalicAngle 0 This happens since democratic leadership relies on consensus. << >> "Leadership Style of Richard Branson." As a leader, he wants people to feel the same way, so he motivates them to become the best versions of themselves. In such an organization, focusing on directing pushes employees towards perceiving themselves as being underrated in the extent that they are not permitted to make vital decisions for the organization, yet they have the required expertise and knowledge base to do so. 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. 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. Can We Save Social Media? Full Range Leadership. If you are the original creator of this paper and no longer wish to have it published on StudyCorgi, request the removal. Yes, he always says Yes to almost everything. We will write a custom Report on Leadership Style of Richard Branson specifically for you for only $11.00 $9.35/page. " Walk the floor, get to know your people ," Branson urged. Therefore he carefully hires the employees for his team and stays in contact with them so that their views and thoughts can be utilized to bring improvement and innovative ideas in action. If you arent proud of what youre doing, why should anybody else be?, I was dyslexic, I had no understanding of schoolwork whatsoever. There are many ways to run a successful company. I make a point of employing people and teams who do what I cant do, or dont want to do, and bring positive energy and ultimately a sense of fun to the grueling hours, highs and lows.. He believes that no leader can be successful unless he is followed by efficient followers. This is a BETA experience. The Virgin Way: Everything I Know About Leadership. If you use an assignment from StudyCorgi website, it should be referenced accordingly. Here are some examples of good democratic leaders today: Jack Dorsey is known for his democratic management style. For example, he recruits anindividual person for individual jobs. When someone does an excellent job, he praises them publicly to motivate others. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. You are free to use it to write your own assignment, however you must reference it properly. . Thats never been the Virgin approach. You can read Branson's blog or follow him on Twitter for more live updates from his extraordinary life @richardbranson. He searches for the best person for a specific type of joband recruits him/her. 278 278 556 556 556 556 556 556 556 556 556 556 278 278 0 0 Bass, B., & Steidlmeier, P. (2009). What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. /StemH 78 Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. He is a highly confident person. No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. Leadership Theory, Application, Skill Development. Although failing to evaluate the risks associated with his expansive business empire has made Richard Branson successful, it is a great disadvantage since risk management is important in the evaluation of the business decision that may open an organization towards susceptibility to failure in the end. At Virgin, Branson has created a channel of open communication whose aim is to connect the management with employees and streamline business processes. Are those extraordinary qualities or general? As a leader, you should always be listening. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. Then in 1972, he opened a chain of record stores that later became popular as 'Virgin Megastores'. 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. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. Suppose you want to refine or learn more about democratic leadership or prefer a different style for effective leadership; in that case, our experienced coaches will guide you to become one through our executive coaching. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. Great leaders often identify with a given leadership style when leading group members. Her key takeaway from those experiences was not to be afraid of someone elses success and to find the joy in seeing others doing brilliantly. When he select a person for his business, he can do it very easily as he knows about different types of personality. I certainly would have failed IQ tests. Lets go further and try one of the most comprehensive coaching experience with us. Recently, he has launched his new idea commercial space traveling. StudyCorgi. In some ways, Branson is too flexible to fit into the visionary leader category. << Some entrepreneurs have been influenced by other business leaders. 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. must. 3. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. /BaseFont /ArialMT 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. You dont learn to walk by following rules. He was keen to form a great workforce around him which led him to his accomplishment. Dan Schawbel is a speaker and best-selling author. Richard Branson believes in the delegation of authority. Employees work in clusters through a flat organizational structure to accomplish set objectives.. Virgin Group owns about 400 companies. 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. 3. Branson, R. (2014). Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. Hogan, R., & Hogan, J. The question is,How do you achieve the best skills to be a great leader and touch the success? June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. Leadership Style of Richard Branson. His democratic style of leadership is characterized by traits such as charisma, perseverance, purpose, self-awareness, and open-mindedness (Dearlove, 2007). This perspective fuels his leadership style by making him an open-minded, social person willing to take risks. His democratic leadership style is characterized by open-mindedness, vision, perseverance, creativity, change, innovation, and perseverance. Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. 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. . Richard Brandson applies transformational leadership. Every time as he appears on TV, in the newspaper or a magazine, he promotes the Virgin brand. He is an English businessman and a venture capitalist. Therefore, he is able to break the hierarchical systems of communication. At times when decisions are important, Richard Branson makes decisions by taking the right moves for the companys betterment. Virgin Group is committed aligns its businesses in a manner that promotes environmental conservation. From this success, it is evident that his strategies of success can be deployed by organizations seeking to gain large growth through the utilization of employees as the source of competitive advantage. Nicholson was also taught to welcome challenges and to recognize that he doesnt have all the answers and should therefore seek different views and expertise from others. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. He believes that quality content should be actionable and helpful. Richard Branson: Rule-breaker because I never learned the rules in the first place. he mentioned himself as a collaborative and democratic person. Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. 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. Later he started his own Airways service Virgin Airways. References: 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. 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. 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. In such a situation, employees will be willing and eager to do jobs. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. He started his entrepreneurial journey in high school after founding a student magazine. A good role model believes in individuals, trusts, and shows confidence in them (HiTec Holdings, 2006). Therefore, innovation and creativity are part of his leadership. 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. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). Branson created Virgin Management Limited to facilitate communication among the various companies that he heads (Dearlove, 2007). 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. He thinks, the business that fulfills the needs of the people can create value vastly, it improves their lives. Offers a Leader a Diverse Set of Opinions. 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. 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? If you keep using the site, you accept our. Armed with this information, it becomes possible to determine whether Richard Bransons leadership style is a good fit for a manager working for the Virginia Group. The author has no position in any of the stocks mentioned. No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. Gains in productivity. 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. Branson is famous for his success in the business field with his unique characteristics, which are an attribute to his success. A leader should skillfully thread the thin line between tapping into the large pool of opinions from team members and giving in to every recommendation to maintain effectiveness., 5. This gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. Each person holds different types of leadership personality which make him successful. Richard Brandson applies a participative leadership style. 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. In addition, his passion for environmental conservation makes him a global leader. 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