His risk taking and visionary nature will ensure that his companies explore sectors that other companies are afraid of exploring. /Type /FontDescriptor First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. 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. Democratic leadership can be defined as the performance of three functions: distributing responsibility among the membership, empowering group members, and aiding the group 's decision-making process (Gastil, 1994). It normally involves sending and receiving of messages. Employees are more engaged and perform at their best when they are heard and valued at work. 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. /Ascent 905 %PDF-1.4 Assessing Leadership: A View from the Dark Side. Most people want to be listened to and appreciated at work, and focusing on these attributes as a leader will work better for everyone in the long run.. The leadership of Richard Branson has dramatically influenced the success of his Virgin Empire (Kinicki & Fugate, 2016, p.151). Richard Branson is absolutely a transformational leader. /Ascent 905 This means that time is wasted in attempting to articulate the ideas developed by employees with a practical solution for the success of an organization. As outlined above, democratic leadership comes with its pros and cons. Branson is a risk taker and a lover of challenges. He has mastered the art of communication. /Leading 150 Its the greatest thrill in the world and it runs away screaming at the first sight of bullet points., For a successful entrepreneur it can mean extreme wealth. According to Dearlove (2007), leadership is the ability of an individual to persuade, influence, motivate, empower, and influence a group of people in order to achieve certain results using specific strategies. The majority rules, but the whole group feels included. These incentives encourage team work and as such increase productivity, performance, and employee retention rates. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. He searches for the best person for a specific type of joband recruits him/her. 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. "Leadership Style of Richard Branson." What type of leader is Richard Branson? One of his most important leadership traits is vision. >> 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. Branson is likely to use this strategy to motivate employees and increase their value to his organization. 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. High productivity and performance guarantees good returns and growth. Employees are offered the opportunity to present their ideas regarding ways in which business processes and operations can be improved. (2006). Your email address will not be published. /Producer (PDF-XChange Printer 2012 \(5.5 build 311\) [Windows 8 Enterprise x64 \(Build 9200\)]) He was unhappy with the customer service of British Airways. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. 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. Transformational leaders are influential to their followers. /CapHeight 716 Branson is an international entrepreneur, adventurer, icon, and the founder of the Virgin Group. If you take care of your employees, they will take care of the clients. (Desk Director). We utilize security vendors that protect and /Encoding /WinAnsiEncoding Job promotion is one of the ways that employees use to get higher remuneration (Mills et. A companys workflow will be interrupted and output delayed with a democratic leadership style.. He is the founder of Virgin Group which has control over 400 companies. Disclaimer: Services provided by StudyCorgi are to be used for research purposes only. Nevertheless, his charisma and situational leadership approaches make him a respected Briton. You can read Branson's blog or follow him on Twitter for more live updates from his extraordinary life @richardbranson. Richard Branson is one of the most iconic figures in the world today. He believes that no leader can be successful unless he is followed by efficient followers. Thats never been the Virgin approach. Leadership comes in different flavors applied to meet goals. Branson is as popular as any Hollywood star. 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. Bass, B., & Steidlmeier, P. (2009). 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. Leadership Theory, Application, Skill Development. What works once may never work again. Great leaders often identify with a given leadership style when leading group members. 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. Kedharnath, U. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? At the same time, Ive also learned about balance, the art of delegation and when to intervene and when to get out of the way!, This is a BETA experience. Then in 1972, he opened a chain of record stores that later became popular as 'Virgin Megastores'. /Type /Font He dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. Richard Branson can easily learn about different types of personality and their expertise. Branson, R. (2014). His approach to business is also unique in the sense that he does not fear engaging in any business. 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. Becoming a global leader also requires one to have highlighted good leadership approaches, which can be used as benchmarks by other organizations. 278 0 0 0 0 0 0 0 0 0 0 0 333 0 0 0 He believes in thelong-term relationship with people. After observing these traits, I would analyze them and draw conclusions. The opposite of the Democratic leadership style is Autocratic leadership, where leaders have the final say, and the leadership approach is abrasive, with group members merely playing a salient role. Whether in a multinational or a small business, the leadership style selected should inspire and foster a harmonious working environment. When he select a person for his business, he can do it very easily as he knows about different types of personality. /FontBBox [-628 -376 2000 1056] The Leadership of Richard Branson. When Financhill publishes its #1 stock, listen up. 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. endobj 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. Being a business person, he is also an investor and philanthropist. /LastChar 121 International Journal of Selection and Development, 9(2), 40-51. Is It Time To Change Director Board Compensation In Private Real Estate Firms? Fantastic people throughout the Virgin Group run our businesses, allowing me to think creatively and strategically., You get the idea. Let's explore seven key lessons for entrepreneurs and leadership. << Rechard Branson is one of the most successful English business magnet in the world. My mum shaped my leadership style, he says. Role models possess a number of qualities such as caring for others and setting ample examples to the followers. Straddling the EV-verse: A Bentley Venture, Driving Tomorrows: The Mercedes-Benz and Google Partnership, Subway Sandwiches Explore Sale Options After Profitable Makeover. In such a case, no one wants to take responsibility for missteps and mistakes. 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.. "The Leadership of Richard Branson." Peoples opinions are thus given the first priority. Your privacy is extremely important to us. /Widths [ 278 0 0 0 0 0 667 0 333 333 0 0 278 333 A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). Dan Schawbel: How would you describe your leadership style? /AvgWidth 479 Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. 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. People like Richard Branson and Herb Kelleher, are more concerned about creating a winning team. If you love what you do and if you believe in what you do, others will share your enthusiasm. Finally, his visionary nature has been a key component of the groups expansion. 0 0 0 556 556 500 556 556 278 556 556 222 222 500 222 833 Sir Richard Branson has turned himself into a walking, talking Virgin logo. 0 0 1015 667 667 722 722 667 611 778 722 278 500 667 556 833 Branson's leadership style also believes in marketing anywhere and everywhere. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. What everyone tells you never to do may just work, once. Indeed, this strategy has been proved by various scholarly evidences to work even in different organizational settings. "The Leadership of Richard Branson." 11 Most common leadership styles. 6 0 obj It is also vital to explain that where every voice matters, not all suggested ideas are implemented. Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. A less obvious one was the time his boss asked him to clean the toilets. What leadership qualities helped him to become this much successful? Connect with him onLinkedIn. endobj This is done with the understanding that the best ideas deliver the best outcome for an organization. 1. And weve been successful not by wasting time scrutinising our competitors but by looking at ourselves from the point of view of our customers do and seeking feedback through listening. He believes, people should be given freedom, and he acts accordingly. He thinks, the business that fulfills the needs of the people can create value vastly, it improves their lives. Famously this came back to bite him during his infamous balloon trip that led to his partner, Per Lindstrand, jumping into the ocean and nearly drowning. /MissingWidth 278 Branson has been adopting a law-breaking approach in his leadership approach . /FirstChar 32 must. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders. Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). Minnesota, US: Southwestern. While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. My first business venture was Student magazine. He thinks each person should be given responsibility according to his/her own interest and expertise. Although he has shown he is capable of this style of leadership in some situations, overall he has relied on his own intuition to make business decisions. 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? He embraces change, creativity, and innovation thus enabling his companies to grow and dominate in various sectors. 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, the founder of the Virgin Group, is a democratic leader with a participative leadership style. /AvgWidth 441 Richard Branson: Rule-breaker because I never learned the rules in the first place. Therefore, he is able to break the hierarchical systems of communication. By coping up with the new environment, Richard Branson is apt to face the challenges whilst creating innovative ideas to succeed in the business. As a leader, he wants people to feel the same way, so he motivates them to become the best versions of themselves. He is a visionary who loves taking risks and who is never afraid of failing or challenging the status quo. Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. 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. Leaders must be ready and open to ideas brought forward by employees. /ItalicAngle 0 Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. He likes to follow the SWOT strategy. The most obvious one was the role of his parents in his upbringing, which contributed to his work ethic. A number of factors have helped define the leadership style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years. Ethics, character, and authentic transformational leadership behavior. This group's decision-making process gives room for the adoption of better ideas. He always welcome the feedback and new ideas of the employees. 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 Here are the 11 most common leadership styles. Every business, like a painting, operates according to its own rules. It's about being true to yourself, your ideas and focusing on the essentials." "As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation. Richard Branson, founder of Virgin Group; Jeff Bezos, founder of Amazon; Use the 6 Levels of Delegation to Become a Better Leader . As a leader, one should be a team builder. 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. No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. IvyPanda. 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. Richard Branson's leadership style works for his particular role as visionary and figurehead of his diverse group of companies under the Virgin Group umbrella. Richard Branson believes in thedelegation. /MissingWidth 278 'Branson values removing barriers in the corporate hierarchy . 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. Condenser Makes Drinking Water from Air without Using Energy. Schawbel:From the beginning, how often would you research what your competitors were doing? One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. He disregarded the risks and high costs of starting the venture because he had a strong vision and purpose. al, 2006). This inadvertently can result in other team members feeling less appreciated. The business now has a team of 11 people. Here, you will find all the ressources and inspiration you need to learn more about your management skills. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. 2019. If you dont enjoy what you are doing, then you shouldnt be doing it. New York: John Wiley & Sons. Such an approach to organizational leadership best explains the approaches deployed by Richard Branson to succeed in the global domain. The question is,How do you achieve the best skills to be a great leader and touch the success? Moreover, he is able to communicate the visions of different companies, find and connect with suitable individuals to run businesses, and make decisions that foster growth and development. "The Leadership of Richard Branson." Good leaders speak eloquently. The author has no position in any of the stocks mentioned. Need a custom Report sample written from scratch by While you almost certainly cannot duplicate Richard Bransons leadership style, you can learn from his approach to management. 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.. He has confidence in his own work. Branson:1. He believes, people should be given freedom, and he acts accordingly. I would adopt an open and analytic approach in determining whether Bransons leadership is fit for me as a manager in the group. /StemH 78 Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. Participation leadership is used . Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. ensure the integrity of our platform while keeping your private information safe. IvyPanda. When he select a person for his business, he can do it very easily as he knows about different types of personality. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. I believe leading from the front is a great way to help encourage good team spirit.. 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 is directly involved in the process of hiring new employees in his organization. Listening is one of the most important skills that anyone can have. Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. Sir Branson unique leadership styles and qualities that have fashioned him into the entrepreneur he is today. This happens since democratic leadership relies on consensus. In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. Richard knows it too well that a good idea emanates from all people irrespective of their status in the organization. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. Its Picking Up Steam. Mills, J., Bratton, J., & Forshaw, C. (2006). 4. 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. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. Richard Branson, CEO of the Virgin Group, is another democratic leader who empowers his employees to reach his company's goals. 0 0 0 222 222 333 333 0 556]>> Gains in productivity. 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. 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'S decision-making process gives room for richard branson democratic leadership style adoption of better ideas biggest turnoffs high costs of starting the because! This line of argument, Richard Branson understands the need of a new business: Richard understands...