Richard Branson can easily learn about different types of personality and their expertise. must. /Encoding /WinAnsiEncoding Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. He dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. /StemV 78 /FontName /Arial-BoldMT As a leader, you should always be listening. IvyPanda. Some of Virgin Groups constituent ventures that are highly successful include Virgin Atlantic, Virgin Galactic, Virgin Mobile, and Virgin Media (Branson, 2014). In such a scenario, the quickest response adopted by the group is to know whether the employees wishing to leave the organization have perceptions of being undervalued. Leaked tax return reveals secret to pocketing $460,164 George Soross Most Undervalued Holding Is Surprising. On the other hand, their lack would lead to a conclusion that he is not a leader that I would like to work under. One of the most risk taker investors is Richard Branson without any doubt. Richard Branson applies a democratic leadership style. * 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. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. Richard Brandson applies transformational leadership. Here are the 11 most common leadership styles. Minnesota, US: Southwestern. A person who has multiple degrees in your field isnt always better than someone with broad experience and a wonderful personality. 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). Instead, he allowed his employees to apply their innovative ideas to best deal with the various kinds of business situations. 1884 . There are many aspects of Bransons leadership that make him a global leader. When team members offer their opinions on a subject, members are likely to endorse the best-suggested views. November 5, 2020 by Amy Campos. As a leader, one should be a team builder. One of these achievements includes the ability to expand small business establishments into global platforms with the intention of increasing profit margins earned by an organization. 278 0 0 0 0 0 0 0 0 0 0 0 333 0 0 0 /CapHeight 716 Branson's has a Participative or Democratic style of leadership. >> Working in teams ensures that employees attain goals and organizational objectives faster and more efficiently. Community college journal of research and practice(1066-8926), 36 (2), p. 67. 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. While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. Richard Branson is on the successful business person which follows democratic leadership approach. This became possible because he continued to transform his businesses as per the changing needs and demands. 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&" 2023 Industry Leaders Magazine. >> "Leadership Style of Richard Branson." Most leaders who exercise democratic leadership often complement it with participative leadership. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. This is evident from his decision to venture into businesses that operate in different economic sectors. 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. Consequently, his leadership models lack aspects of risk management. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. And he is very much confident about making this kind of decisions. He is a highly confident person. When Financhill publishes its #1 stock, listen up. "Leadership Style of Richard Branson." While hiring, at first he checks the weakness of that person. He says: It was such a positive influence and I learned so much from him. IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. endobj Something went wrong while submitting the form. We want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. If you take care of your employees, they will take care of the clients. (Desk Director). While he rolls with the punches better than most visionary leaders, he does have high expectations. The influence of leaders implicit followership theories on employee outcomes. While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. 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. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. Then in 1972, he opened a chain of record stores that later became popular as 'Virgin Megastores'. 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. You learn by doing, and by falling over, and its because you fall over that you learn to save yourself from falling over. Born with acumen, perspicacity and prudence, he started his first business venture ,"Student" magazine at the age of 16 . Dan Schawbel: How would you describe your leadership style? 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. 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. Virgin Group is committed aligns its businesses in a manner that promotes environmental conservation. 29 December. Such an approach to organizational leadership best explains the approaches deployed by Richard Branson to succeed in the global domain. Creating a happy, cohesive, successful team than about being "Right and in Control". As a leader, one should be a team builder. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. Communication involves having an eye contact with listeners body movements (Hogan & Hogan, 2008). If you love what you do and if you believe in what you do, others will share your enthusiasm. These hugely successful businessmen and women are focused on results and are more likely to use inclusive leadership styles. Strong leadership skills are vital for founders of growing businesses. He believes in thelong-term relationship with people. While hiring, at first he checks the weakness of that person. StudyCorgi, 29 Dec. 2020, studycorgi.com/the-leadership-of-richard-branson/. Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. He told about his own leadership approach in that interview. He likes to follow the SWOT strategy. At times when decisions are important, Richard Branson makes decisions by taking the right moves for the companys betterment. 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. /FontName /ArialMT One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. 0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. A leader needs to consult several team members, listen to their views, and collect feedback. This can make the democratic process chaotic. Good leaders speak eloquently. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. /MaxWidth 2000 You learn by doing, and by falling over., I never get the accountants in before I start up a business. Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. Sosik, J., & Jung, D. (2012). this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. On the other hand, his leadership style has ensured that Virgin Group expands to different economic sectors and countries around the world. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. Richard Branson is an entrepreneur who is known for his unique approaches to leadership and the development of talented employees. /StemH 78 He never applied any stringent rules in the workplace. He embraces change, creativity, and innovation thus enabling his companies to grow and dominate in various sectors. He considers praising employees upon their accomplishing and providing them recognitions and benefits motivates them to perform better in the future. Richard Branson is one of the most iconic figures in the world today. 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. And thats what a number of us are trying to do., You dont learn to walk by following rules. /Flags 32 The Ability to Delegate:Richard Branson believes in thedelegation. Branson, R. (2014). 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. Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. 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. 2. /Subtype /TrueType How people coordinate their body movements while speaking and their facial expression also tell a lot. Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. Virginia Group has been described as a fast-growing entrepreneurial company. As he says we were not destined to be empty raincoats, nameless numbers on a payroll, role occupants, the raw material of economics or sociology, statistics in some government report.. 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. An example of Bransons visionary leadership is Virgin Galactic that was started to explore the untapped field of space tourism. Leadership Style of Richard Branson. As part of the democratic leadership style, Richard Branson prefers to maintain healthy leader-member relationships. " Walk the floor, get to know your people ," Branson urged. I learn so much from guests and employees that way. Branson:Researching the competition has never been the Virgin way. In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. 2. Richard Branson believes in thinking different. 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. You need to have current information about the industry and the organization as well. Tips for Running a Successful Fulfilled by Amazon Business. When someone does an excellent job, he praises them publicly to motivate others. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. >> He has the potential to develop new plans and execute them quickly when things dont work as planned. (2006). Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. Richard Branson is absolutely a transformational leader. Its far more effective to praise people than to constantly criticize them; it brings out the best in them and creates a more open environment for creativity and innovation.. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. Why is the UN Studying Solar Radiation Modification? /LastChar 150 First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). Branson is likely to use this strategy to motivate employees and increase their value to his organization. Straddling the EV-verse: A Bentley Venture, Driving Tomorrows: The Mercedes-Benz and Google Partnership, Subway Sandwiches Explore Sale Options After Profitable Makeover. The Leadership of Richard Branson. He has confidence in his own work. Richard Branson has a unique leadership style that makes him unlike any other entrepreneur. At Virgin, Branson has created a channel of open communication whose aim is to connect the management with employees and streamline business processes. Recently, he has launched his new idea commercial space traveling. Your submission has been received! 0 0 0 222 222 333 333 0 556]>> 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. Condenser Makes Drinking Water from Air without Using Energy. Bransons leadership traits mesh well with the running of his multifaceted organization. Improves motivation and morale; Performance improves due to greater ownership for all team members Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. Thank you! 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 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. According to Richard Branson, leadership plays various roles within his organization. /CreationDate (D:20170824232610+05'30') Richard Branson: Rule-breaker because I never learned the rules in the first place. This paper was written and submitted to our database by a student to assist your with your own studies. 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. 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. If you dont enjoy what you are doing, then you shouldnt be doing it. This skill is one of the most important leadership skills of him to pave the way to achieving success in the world of business. /Type /Font He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. 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. Richard Branson likes to help the people around him, but he isnt a servant leader. Instead, his leadership style comes from his personality and learning from his own mistakes. 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. Finally, his visionary nature has been a key component of the groups expansion. Believes in Mentorship:Mentors are the great teachers. Sir Richard Branson has turned himself into a walking, talking Virgin logo. This happens since democratic leadership relies on consensus. 0 0 0 556 556 500 556 556 278 556 556 222 222 500 222 833 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. Branson is famous for his success in the business field with his unique characteristics, which are an attribute to his success. 3. /Flags 32 Democratic leadership style was first expounded by Kurt Lewin together with R.K white and R. Lippit when they identified three distinct leadership styles after a series of experiments. In such a situation, employees will be willing and eager to do jobs. This group's decision-making process gives room for the adoption of better ideas. Many, many visions, actually. /MissingWidth 278 A companys workflow will be interrupted and output delayed with a democratic leadership style.. 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Without Using Energy their careers companies to grow and dominate in various sectors sectors.