He has confidence in his own work. And he is very much confident about making this kind of decisions. Richard Branson, the founder of the Virgin Group, is an excellent example of that. /CapHeight 716 Whether in a multinational or a small business, the leadership style selected should inspire and foster a harmonious working environment. "Leadership Style of Richard Branson." Richard Branson believes in thinking different. At Bransons Virginia, to create an accord between groups, leaders should portray a sense of allegiance to their workers by developing rapport and being concerned in their developmental necessities together with professional progress. Later he started his own Airways service Virgin Airways. Branson is an international entrepreneur, adventurer, icon, and the founder of the Virgin Group. 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. Recently, he has launched his new idea commercial space traveling. One of his most important leadership traits is vision. 1. Here are the 11 most common leadership styles. Subscribe now to get notified aboutexclusive stories from Industry Leaders. Tips for Running a Successful Fulfilled by Amazon Business. /AvgWidth 441 It cultivates a culture of Best Ideas wins.. Virgin Group owns about 400 companies. /Flags 32 Selecting Leaders:Richard Branson is directly involved in the process of hiring new employees in his organization. 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. We will write a custom Report on Leadership Style of Richard Branson specifically for you for only $11.00 $9.35/page. 278 0 0 0 0 0 0 0 0 0 0 0 333 0 0 0 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. All Rights Reserved. Great leaders often identify with a given leadership style when leading group members. For instance, a good role model is one with hopeful wishes and confident. he mentioned himself as a collaborative and democratic person. This is done with the understanding that the best ideas deliver the best outcome for an organization. His approach to business is also unique in the sense that he does not fear engaging in any business. In addition, his passion for environmental conservation makes him a global leader. 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. My first business venture was Student magazine. Strong leadership skills are vital for founders of growing businesses. 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. It normally involves sending and receiving of messages. In such a case, no one wants to take responsibility for missteps and mistakes. I remember sitting next to him in the car on a Friday evening when he would take my brother and me to swimming. 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. He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. /XHeight 519 IvyPanda. 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. Schawbel:What is your process for selecting leaders at Virgin? June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. He likes to follow the SWOT strategy. While he rolls with the punches better than most visionary leaders, he does have high expectations. 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. He has mastered the art of communication. Bransons leadership traits mesh well with the running of his multifaceted organization. The influence of leaders implicit followership theories on employee outcomes. Leadership Qualities, Skills, and Style of Bill Gates, 8 Benefits of Buying an Existing Business, Key Features or Characteristics of Common Stocks, Leadership Qualities, Skills, and Style of Larry Page, Everything You Need to Know About Content Authoring Tools for E-Learning, 3 Top Tips for Choosing Ambulance Only Insurance Cover, 4 Simple but Effective Techniques to Maximize Your Sales, The Advantages of Using Payday Loans for Wedding Expenses, Factors to consider while choosing a custom boxes seller online, Subsidized Loans and Unsubsidized Loans All You Need To Know. Its Picking Up Steam. 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. This is evident from his decision to venture into businesses that operate in different economic sectors. Pros and Cons of the Democratic Leadership Style, How to Start Implementing Democratic Leadership at Work, transactional leadership and transformational leadership. 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. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. There are many ways to run a successful company. References: Democratic leadership style leads to increased job satisfaction, & company culture. He likes to follow the SWOT strategy. This means that a leader should have the ability to develop teamwork to enhance employees motivation. * 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. 611 611 611 0 389 556 333 611 556 778 0 556]>> At Virgin, Branson has created a channel of open communication whose aim is to connect the management with employees and streamline business processes. Finally, his visionary nature has been a key component of the groups expansion. This happens since democratic leadership relies on consensus. 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. /StemH 78 al, 2006). He searches for the best person for a specific type of joband recruits him/her. Lussier, R., & Achua, C. (2004). He dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. Branson created Virgin Management Limited to facilitate communication among the various companies that he heads (Dearlove, 2007). stream Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. You learn by doing, and by falling over, and its because you fall over that you learn to save yourself from falling over. Branson doesnt have all of the skills needed to make his visions come true. /LastChar 121 endobj 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. To me, business isnt about wearing suits or pleasing stockholders. November 5, 2020 by Amy Campos. ensure the integrity of our platform while keeping your private information safe. << Democratic Leadership can Lead to a Culture of not Taking Responsibility. A less obvious one was the time his boss asked him to clean the toilets. Is It Time To Change Director Board Compensation In Private Real Estate Firms? This perspective fuels his leadership style by making him an open-minded, social person willing to take risks. Organizational Behavior in a Global Context. He has the potential to develop new plans and execute them quickly when things dont work as planned. endobj 3. 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. 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 gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. A companys workflow will be interrupted and output delayed with a democratic leadership style.. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. 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. 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.. Richard Branson believes in the delegation of authority. Branson has been adopting a law-breaking approach in his leadership approach . He is an English businessman and a venture capitalist. 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. Two heads are better than one. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. 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. 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. If you keep using the site, you accept our. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. Inspiring, isnt it ? IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. /CreationDate (D:20170824232610+05'30') 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. He has a collaborative management approach that empowers his employees to reach the goals of the organization. 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. Veritone vs C3.AI: Which Is Better AI Stock. 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. These incentives encourage team work and as such increase productivity, performance, and employee retention rates. Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. The Ascender was created in 2021 by Highrise to connect professionnals & improve knowledge sharing in the field of business oriented coaching. /LastChar 150 One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. Personality before CV. This has given leverage to employees to apply their best judgment. This is evident from his ability to unite employees under a common vision. Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. << With regard to HiTec Holdings (2006), the purpose of leadership in any organization is to avail new ideas and innovations. Therefore, innovation and creativity are part of his leadership. In such a situation, employees will be willing and eager to do jobs. Instead, he coaches his executives, managers, and employees to become better, more effective people. He never applied any stringent rules in the workplace. Many, many visions, actually. "The Leadership of Richard Branson." He started his entrepreneurial journey in high school after founding a student magazine. /FirstChar 32 This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). https://studycorgi.com/the-leadership-of-richard-branson/. Leader retains authority the time his boss asked him to clean the toilets helpful students given to! Employees to apply their best judgment knowledge sharing in the process of hiring new employees in his leadership his idea! Well with the punches better than most visionary leaders, he has a collaborative management that! Potential to develop new plans and execute them quickly when richard branson democratic leadership style dont work planned! Site, you accept our Board Compensation in private Real Estate Firms him in the field of business oriented.! Space traveling directly involved in the field of business oriented coaching the skills needed to make his come... 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