"The Leadership of Richard Branson." 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). he mentioned himself as a collaborative and democratic person. Good leaders always keep team members appraised of good and bad events within the organization. While hiring, at first he checks the weakness of that person. Richard Branson, CEO of the Virgin Group, is another democratic leader who empowers his employees to reach his company's goals. After all, the #1 stock is the cream of the crop, even when markets crash. First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). As a leader, one should be a team builder. When a leader invites diverse opinions among employees, he or she creates a feeling of shared leadership which further enriches the ultimate decision-making process through the availability of more ideas. This strategy perhaps depicts well the democratic leadership style, which Kedharnath (2011) argues that works well in organizational settings where employees have high skill levels and knowledge. 8 0 obj While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. You need to have current information about the industry and the organization as well. endobj This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). 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. He does this through engaging his employees in direct conversations. Depending on your team members' skill levels, personalities, or education levels, you can opt to use different phases so that each member feels included. 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). 11 Most common leadership styles. * 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. Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. The influence of leaders implicit followership theories on employee outcomes. 6. Becoming a global leader also requires one to have highlighted good leadership approaches, which can be used as benchmarks by other organizations. Your email address will not be published. /FontDescriptor 5 0 R 2. /AvgWidth 441 This helps employees to align their goals with those of the group (Sosik & Jung, 2012). According to Richard Branson, leadership plays various roles within his organization. He therefore does not take for granted any idea from employees, business partners, strangers, or even friends. 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. "Leadership Style of Richard Branson." If you love what you do and if you believe in what you do, others will share your enthusiasm. 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. He was keen to form a great workforce around him which led him to his accomplishment. 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. /Length 2153 If you arent proud of what youre doing, why should anybody else be?, I was dyslexic, I had no understanding of schoolwork whatsoever. And that ability to engage with people and take them with him on the most. 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 A leader needs to consult several team members, listen to their views, and collect feedback. Richard Branson, CEO of the Virgin Group, perfectly embodies this democratic leadership style. When team members understand that everyone's opinion matters, it creates a better collaborative environment that facilitates the free flow of information, making it easy to achieve goals. 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. 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. >> Believes in Mentorship:Mentors are the great teachers. Offers a Leader a Diverse Set of Opinions. They have the ability to listen to their employees. They have facilitated this growth in various ways. 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 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. When Financhill publishes its #1 stock, listen up. /StemV 78 2. And the responsibility for me is to invest in creating new businesses, create jobs, employ people, and to put money aside to tackle issues where we can make a difference., A business has to be involving, it has to be fun, and it has to exercise your creative instincts., Through the right people focusing on the right things, we can, in time, get on top of a lot if not most of the problems of this world. His exceptional communication skills enable him to communicate the mission and vision of the group to employees of different companies. Our strategy has been to screw business as usual. He is well known for his leadership style that helped him become a self-made billionaire. The commitment is about doing things differently. This paper was written and submitted to our database by a student to assist your with your own studies. 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. Virgin Group owns about 400 companies. Richard Branson can easily learn about different types of personality and their expertise. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. Role models possess a number of qualities such as caring for others and setting ample examples to the followers. He encourages consensus among senior managers and favors delegation and more autonomy.. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. Nevertheless, his charisma and situational leadership approaches make him a respected Briton. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? Your privacy is extremely important to us. Finally, his visionary nature has been a key component of the groups expansion. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). Opinions expressed by Forbes Contributors are their own. 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. 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. But with extreme wealth comes extreme responsibility. The Virgin Group gains competitive advantage through innovation and application of creativity in implementing business processes (Branson, 2014). Instead, he allowed his employees to apply their innovative ideas to best deal with the various kinds of business situations. Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. It recently won a Queens Award in International Trade. 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. Richard Branson is well known for applying a fun, friendly and anti-establishment business environment wherein no rules or regulations hold the ability of the employees to perform well and enjoy their workplace. One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. /MissingWidth 278 Being a business person, he is also an investor and philanthropist. Richard Branson is absolutely a transformational leader. Assessing Leadership: A View from the Dark Side. 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. Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. /CapHeight 716 On the other hand, his leadership style has ensured that Virgin Group expands to different economic sectors and countries around the world. /LastChar 121 He was born in the year of 1950. 29 December. Instead, he coaches his executives, managers, and employees to become better, more effective people. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. Branson is likely to use this strategy to motivate employees and increase their value to his organization. Branson management style and leadership skills were learnt in his day-to-day duties and interaction with people. Participative Leadership: Perspectives of Community College Presidents. Web. 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. 1884 . 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. Executive Summary Leadership play important role in each and every organization. Branson is as popular as any Hollywood star. In this extent, I agree that Richard Branson is indeed a global leader. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. From his failures with Virgin Cola to his successes with Virgin Atlantic, Branson has embraced teams of experts and let them run the show as they see fit, which sometimes means letting them fail. Leaders should give motivation to their employees by doing things that will give inspiration to others, encourage, and lead them to attain success of the goals in the organization. He started his entrepreneurial journey in high school after founding a student magazine. /CapHeight 716 Therefore, he is able to break the hierarchical systems of communication. Recently, he has launched his new idea commercial space traveling. 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