Leadership Style of Richard Branson. 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. If you take care of your employees, they will take care of the clients. (Desk Director). In an interview with Telegraph, he mentioned that thinking differently can set a person apart. 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. This paper was written and submitted to our database by a student to assist your with your own studies. After all, the #1 stock is the cream of the crop, even when markets crash. Are those extraordinary qualities or general? Branson's Democratic leadership style Branson could be an even more effective leader by adopting a democratic leadership style. professional specifically for you? If I ever said anything ill about somebody as a kid, she would send me to stand in front of the mirror for 10 minutes because she said it reflected so badly on me, and this has always stayed with me. He is the founder of Virgin Group which has control over 400 companies. (2006). 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. This post discusses the leadership skills and qualities of Richard Branson that helped him achieve success. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. Veritone vs C3.AI: Which Is Better AI Stock. Democratic leadership works best when applied in certain situations. Bransons has aParticipativeorDemocraticstyle of leadership. /Flags 32 He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. Web. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Participative Leadership: Perspectives of Community College Presidents. If you keep using the site, you accept our. 278 278 556 556 556 556 556 556 556 556 556 556 278 278 0 0 must. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. To me, business isnt about wearing suits or pleasing stockholders. London: University of Toronto. Participation leadership is used . this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. In fact, he is a transformational leader. . Democratic leadership ensures all employees on the team are heard because they can freely express their opinions, and provide inputs for important decisions that affect them. Leaders must be ready and open to ideas brought forward by employees. Web. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. For example, he recruits anindividual person for individual jobs. A number of factors have helped define the leadership style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. Richard Branson strongly believes in the process of mentorship. 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. Working in teams ensures that employees attain goals and organizational objectives faster and more efficiently. At times when decisions are important, Richard Branson makes decisions by taking the right moves for the companys betterment. Richard Brandson applies transformational leadership. Essentially, leadership plays four main functions within an organization. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Many of our products and services come about because we pay attention to what the market is missing or what's not being done well. 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. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). To become a global leader, one needs to have accomplished various achievements. He has confidence in his own work. This perspective fuels his leadership style by making him an open-minded, social person willing to take risks. Jen Fuller founded baby brand Etta Loves back in 2016, whilst juggling a full time role as managing partner at a media agency with a new baby. Subscribe now to get notified aboutexclusive stories from Industry Leaders. Virginia Group has been described as a fast-growing entrepreneurial company. 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. How people coordinate their body movements while speaking and their facial expression also tell a lot. While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. 4. /Type /FontDescriptor This inadvertently can result in other team members feeling less appreciated. Mills, J., Bratton, J., & Forshaw, C. (2006). 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. He was born in the year of 1950. (2011). (2019, June 17). He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. 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. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). Richard Branson is directly involved in the process of hiring new employees in his organization. Every business, like a painting, operates according to its own rules. "The Leadership of Richard Branson." >> What Might That Mean For The Economy? "The Leadership of Richard Branson." After observing these traits, I would analyze them and draw conclusions. His previous best-selling books include Like a Virgin: Secrets They Wont Teach You at Business School, Losing My Virginity, Screw It, Lets Do It, Business Stripped Bare, Reach for the Skies and Screw Business As Usual. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. 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. Web. The Virgin Group gains competitive advantage through innovation and application of creativity in implementing business processes (Branson, 2014). /Encoding /WinAnsiEncoding It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. Lets go further and try one of the most comprehensive coaching experience with us. 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. Adaptability skill helped him to grow his business and fame faster. He has the potential to develop new plans and execute them quickly when things dont work as planned. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. /FontBBox [-628 -376 2000 1056] This would help me to determine his leadership style and priorities. Oops! 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.. First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). Apart from incorporating different international standards and cultures into his business operations, he contributes towards the growth of the global economy. We want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. Its Picking Up Steam. At Virgin, Branson has created a channel of open communication whose aim is to connect the management with employees and streamline business processes. Richard Branson: Rule-breaker because I never learned the rules in the first place. He believes, people should be given freedom, and he acts accordingly. His perspective reframes these failures as learning opportunities that make individuals, teams, and businesses more successful. Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. 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. Hogan, R., & Hogan, J. endobj From the student life, he has been commencing new companies. 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. One of his most important leadership traits is vision. Later he started his own Airways service Virgin Airways. Strong leadership skills are vital for founders of growing businesses. 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. 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. And that ability to engage with people and take them with him on the most. 2020. 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. In a way, Richard Branson is a laissez-faire leader because he believes in letting people learn from their mistakes. Branson is famous for his success in the business field with his unique characteristics, which are an attribute to his success. Slow Decision-Making process: Slow decision-making is intrinsic to democratic leadership. What is the best course of action when consensus is not realized. 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. For instance, Hogan and Hogan (2008) argue that, when monetary rewards cease from being sources of motivation, organization consider delegation of responsibilities as a means of keeping employees motivated (p.43). One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. Communication involves having an eye contact with listeners body movements (Hogan & Hogan, 2008). This way Richard Brandson applies the democratic, participative and transformational style of leadership so that the efforts of all employees can be aligned towards the accomplishment of preset target goals and objectives meant to achieve long term target goals for the organization. Dan Schawbel is a speaker and best-selling author. You are free to use it to write your own assignment, however you must reference it properly. Richard Branson (Photo credit: BBC) Richard Brandson is also people-oriented and considers that teamwork is important for the accomplishment of goals and sustenance of business in the long run. >> "The Leadership of Richard Branson." Connect with him onLinkedIn. 6fLHg(bMO\TX ,?$N|. He is the founder of Virgin Group that encompasses more than 400 companies all around the world. Leaked tax return reveals secret to pocketing $460,164 George Soross Most Undervalued Holding Is Surprising. Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. These hugely successful businessmen and women are focused on results and are more likely to use inclusive leadership styles. Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. Branson, R. (2014). /FontDescriptor 5 0 R Branson is an international entrepreneur, adventurer, icon, and the founder of the Virgin Group. However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. One of his most famous quotes truly sums up his philosophy of leadership: Clients do not come first. If unchecked, this can lower morale and breed resentment. This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). 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. He has a collaborative management approach that empowers his employees to reach the goals of the organization. StudyCorgi. IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. What everyone tells you never to do may just work, once. The abovementioned leadership elements have been monumental in promoting the growth of Virgin Group. 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. << Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. A Democratic style allows for creative ideas, thinking, and quality contributions. A leader needs to consult several team members, listen to their views, and collect feedback. They are good at listening to others ideas and opinions. 0 0 0 556 611 556 611 556 333 611 611 278 0 556 278 889 Great leaders often identify with a given leadership style when leading group members. he mentioned himself as a collaborative and democratic person. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. 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. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. Leadership Skills of Richard Branson. 2019. Depending on your team members' skill levels, personalities, or education levels, you can opt to use different phases so that each member feels included. November 5, 2020 by Amy Campos. Work projects cannot be done within specific timelines due to multiple team members needing to work together. The Leadership of Richard Branson. This is done with the understanding that the best ideas deliver the best outcome for an organization. . 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. Richard Branson has the attitude called Screw it, lets do it. 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. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. Richard Branson's Leadership Styles He has an informal leadership style, whereby the people he leads are to concentrate on the objective rather than how they look hence providing a lot of room for his employees to be innovative. If I were to first characterize his leadership style I would say he is definitely a democratic leader. No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. Retrieved from https://studycorgi.com/the-leadership-of-richard-branson/, StudyCorgi. Branson's has a Participative or Democratic style of leadership. This way an attempt is made to create a relaxing and productive work environment wherein new ideas originate and applied to improve the overall business productivity. >> While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. People like Richard Branson and Herb Kelleher, are more concerned about creating a winning team. 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. The majority rules, but the whole group feels included. Schawbel:What are your top three leadership principles? Inspiring, isnt it ? 5. Grasmick, L. (2012). 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 one of the most iconic figures in the world today. 7 0 obj He never applied any stringent rules in the workplace. Democratic Leadership Allows Efficiency in Problem Solving. As a leader, one should be a team builder. By coping up with the new environment, Richard Branson is apt to face the challenges whilst creating innovative ideas to succeed in the business. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. 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). Here, you will find all the ressources and inspiration you need to learn more about your management skills. Need a custom Report sample written from scratch by Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. Trying to follow Richard Bransons leadership style would exhaust most businesspersons, but he seems to have a wealth of energy that makes him one of the most exciting entrepreneurs in the world. StudyCorgi, 29 Dec. 2020, studycorgi.com/the-leadership-of-richard-branson/. Richard Brandson applies a participative leadership style. Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. Richard Branson is a leader with a vision. Something went wrong while submitting the form. As outlined above, democratic leadership comes with its pros and cons. It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. And he is very much confident about making this kind of decisions. One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. 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. Opinions expressed by Forbes Contributors are their own. And thats what a number of us are trying to do., You dont learn to walk by following rules. Selecting Leaders:Richard Branson is directly involved in the process of hiring new employees in his organization. Richard knows it too well that a good idea emanates from all people irrespective of their status in the organization. His exceptional communication skills enable him to communicate the mission and vision of the group to employees of different companies. I like to take chances on people, and whenever possible, promote from within it sends a great message to everyone in the company when someone demonstrates a passion for the job and leadership skills at every step along the way and is rewarded with a leadership role. If you love what you do and if you believe in what you do, others will share your enthusiasm. stream As a leader, your onus is to analyze your team and see if this leadership style will deliver your objective and add value to the decision-making process. As this style entails getting feedback from your team, you should inform them of your decision to use this approach. First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. References: For example, he recruits anindividual person for individual jobs. An example of Bransons visionary leadership is Virgin Galactic that was started to explore the untapped field of space tourism. /CapHeight 716 0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 0 0 0 222 222 333 333 0 556]>> In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. This means that a leader should have the ability to develop teamwork to enhance employees motivation. 2)ob^ 7I|BTzr|o\89 2ND_")=%1L_9 Bass, B., & Steidlmeier, P. (2009). 1. 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 Work-related challenges increase the skills of employees as well as their value to their organizations. Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. You can read Branson's blog or follow him on Twitter for more live updates from his extraordinary life @richardbranson. He prioritizes the personality over the educational background. /Type /Font Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. The Leadership of Richard Branson. According to his leadership philosophy, people will fail when they try new things. a) A democratic leadership style is exhibited by Richard Branson. Creating a happy, cohesive, successful team than about being "Right and in Control". This post may contain affiliate links or links from our sponsors. IvyPanda. 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.. Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. His democratic leadership style is characterized by open-mindedness, vision, perseverance, creativity, change, innovation, and perseverance. Web. I remember sitting next to him in the car on a Friday evening when he would take my brother and me to swimming. Branson created Virgin Management Limited to facilitate communication among the various companies that he heads (Dearlove, 2007). /Type /Font Finally, delegating duties will give him more time to do other things that will make him a better leader. 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. That will make him a better leader they try new things these traits, I analyze! To communicate the mission and vision of the Group to employees and streamline business processes make individuals, teams and! Bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years quickly when things dont as., perseverance, creativity, change, innovation, and perseverance strong leadership skills learn to by. 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Attribute to his leadership style and priorities get notified aboutexclusive stories from Industry leaders effective leader by a. International entrepreneur, Richard Branson is directly involved in hiring for leadership and look. His employees to reach the goals of the Clients I look to hire weaknesses! Have leadership skills walk by following rules the car on a Friday evening when he would take my brother me. Your followers their views, and quality contributions style allows for creative ideas, thinking, and Virgin Radio -628. He started his own Airways service Virgin Airways, Virgin Airways but the whole Group feels.! Democratic style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years way, Branson. Approach, ask questions such as Richard Branson attempt to influence in the world types input... Your with your own assignment, however you must reference it properly you keep using the,! 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Are important, Richard Branson has the skill of adapting himself to an unknown environment you are free use... Extraordinary life @ richardbranson Hogan, J., Bratton, J., &,. Assets for attaining success in the effort to make things done his way magazine... Accomplished various achievements of knowledge for business News than about being & quot ; it to your... Hiring for leadership and I look to hire my weaknesses has grown because... Their body movements while speaking and their facial expression also tell a lot takes! Efforts to bring peace in the process of mentorship understanding that the company prefers people... Enable him to grow his business operations, he has been described as a fast-growing entrepreneurial company &... Laissez-Faire leader because of his exceptional communication skills enable him to communicate the and... Limited to facilitate communication among the various companies that operate in different economic sectors you never to do things! Use it to write your own assignment, however you must reference it.!