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. "The Leadership of Richard Branson." From the student life, he has been commencing new companies. Web. We utilize security vendors that protect and Kedharnath, U. 1 Richard Branson and His Leadership Style Student's The database is updated daily, so anyone can easily find a relevant essay example. al, 2006). Id hear how he rewarded good staff, gave credit and thanks, empowered people by helping them to develop as leaders themselves, and encouraged them to learn from their mistakes.. This way consistent efforts are made by Richard Brandson to improve his business processes with new-age technology and highly skilled employees so that they could compete with the rising competition in the market and help the sustenance of the business. While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). 1. 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. He constantly takes risks to see what works and what doesnt work. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. This fact lends itself well to companies or organizations with democratic leadership. It normally involves sending and receiving of messages. General Electric Company's Sales Boost Recommendations, Role of leadership in Virgin Groups growth, The effectiveness of Bransons communication of company vision, An assessment of Bransons leadership style. 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. "Leadership Style of Richard Branson." Consistently, they seek new ways of ensuring that they are able to achieve more things that would be of benefit to their followers and themselves (Bass & Steidlmeier, 2009, p.183). Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. Sosik, J., & Jung, D. (2012). Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. This paper was written and submitted to our database by a student to assist your with your own studies. 2020. What type of leader is Richard Branson? /FontBBox [-665 -325 2000 1040] (2019, June 17). 8 0 obj Lussier, R., & Achua, C. (2004). Improves motivation and morale; Performance improves due to greater ownership for all team members Richard Brandson applies transformational leadership. Oops! (2020, December 29). Let's explore seven key lessons for entrepreneurs and leadership. he mentioned himself as a collaborative and democratic person. It can Lead to Procrastination: Democratic leadership style can create a working environment where team members procrastinate due to a lack of motivation and situational awareness. 3 0 obj November 5, 2020 by Amy Campos. /Filter [/FlateDecode] /Ascent 905 Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. Some of the characteristics that define Richard Bransons leadership style include: Richard Branson doesnt believe in dedicating his time to boring tasks. If you take care of your employees, they will take care of the clients. (Desk Director). Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. Dearlove, D. (2007). 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. Grasmick, L. (2012). 2)ob^
7I|BTzr|o\89 2ND_")=%1L_9 Profiles of leadership. His perspective reframes these failures as learning opportunities that make individuals, teams, and businesses more successful. 1884 . If unchecked, this can lower morale and breed resentment. /CreationDate (D:20170824232610+05'30') Are those extraordinary qualities or general? It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. Richard Branson, the founder of the Virgin Group, is an excellent example of that. By coping up with the new environment, Richard Branson is apt to face the challenges whilst creating innovative ideas to succeed in the business. /MaxWidth 2000 As mentioned earlier, Virgin Groups growth and success are partly attributed to Bransons excellent communication skills because is able to communicate the mission and vision of the group to employees who rally behind him in order to achieve them (Dearlove, 2007). 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. 29 December. /BaseFont /ArialMT Participative Leadership: Perspectives of Community College Presidents. What Might That Mean For The Economy? IvyPanda. This is a deliberate and very wise marketing strategy. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. 5. https://studycorgi.com/the-leadership-of-richard-branson/. And if I if Im not interested in something, I dont grasp it., From a young age, I learned to focus on the things I was good at and delegate to others what I was not good at. Richard Branson is one of the most iconic figures in the world today. Honesty is Prioritized in Democratic Leadership. 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? Thank you! Dan Schawbel is a speaker and best-selling author. . Richard Branson Leadership Quotes "To me, business isn't about wearing suits or pleasing stockholders. Richard Branson believes in thedelegation. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. 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. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. Why is the UN Studying Solar Radiation Modification? He was born in the year of 1950. Democratic Leadership Allows Efficiency in Problem Solving. << Richard Branson: Rule-breaker because I never learned the rules in the first place. A less obvious one was the time his boss asked him to clean the toilets. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. Recently, he has launched his new idea commercial space traveling. After all, the #1 stock is the cream of the crop, even when markets crash. 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. He told about his own leadership approach in that interview. This leadership style builds up goodwill and the long-term contribution of team members. Condenser Makes Drinking Water from Air without Using Energy. professional specifically for you? 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. He is a highly confident person. While hiring, at first he checks the weakness of that person. Bransons leadership traits mesh well with the running of his multifaceted organization. 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. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. His visionary leadership led to formation of an intermediary company that links all companies. 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. Two heads are better than one. Richard Branson strongly believes in the process of mentorship. Great leaders often identify with a given leadership style when leading group members. 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. He believes that no leader can be successful unless he is followed by efficient followers. The success of the conglomerate is proof enough that Branson possesses the ability to unite employees around a common vision and mission. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. Can We Save Social Media? Autocratic leadership. When group members have delegated powers, it can inadvertently result in many centers of power. Virgin Group owns about 400 companies. After observing these traits, I would analyze them and draw conclusions. 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&" Experiences of bad management at work can also influence the way people approach leadership when they decide to launch their own business. I believe leading from the front is a great way to help encourage good team spirit.. 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.. International Journal of Selection and Development, 9(2), 40-51. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. 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. Share your email with us and we'll share some examples. Sir Branson unique leadership styles and qualities that have fashioned him into the entrepreneur he is today. GameStop undergoes makeover as 8 board members leave, Leadership and 10 Great Leaders from History. He always came ahead to take the opportunity to start a new business, apply new technology in them and perform training, education and development programs on his employees. /Encoding /WinAnsiEncoding This gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. /Widths [ 278 333 0 0 0 0 0 0 333 333 0 0 0 333 While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. Some entrepreneurs have been influenced by other business leaders. Here are the 11 most common leadership styles. Ethics, character, and authentic transformational leadership behavior. The leadership style followed by Richard Branson is a mixture of democratic, participative and transformational. Richard Branson believes in thinking different. New York: Penguin Publishing Group. You need to have current information about the industry and the organization as well. Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. He is the founder of Virgin Group which has control over 400 companies. He has confidence in his own work. Lets go further and try one of the most comprehensive coaching experience with us. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. His risk taking and visionary nature will ensure that his companies explore sectors that other companies are afraid of exploring. Instead, his leadership style comes from his personality and learning from his own mistakes. We will write a custom Report on Leadership Style of Richard Branson specifically for you for only $11.00 $9.35/page. Employees are more engaged and perform at their best when they are heard and valued at work. When someone does an excellent job, he praises them publicly to motivate others. Personality before CV. Many, many visions, actually. He therefore does not take for granted any idea from employees, business partners, strangers, or even friends. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Richard Branson likes to emphasize that he never learned the rules of running a success business. His charisma is vital in uniting employees to work towards the achievements of the visions and missions that different companies pursue. 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. Financhill has a disclosure policy. He believes, people should be given freedom, and he acts accordingly. 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. 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. (2020, December 29). ensure the integrity of our platform while keeping your private information safe. As outlined above, democratic leadership comes with its pros and cons. In this end, Richard Branson has managed to embrace incredible motivational skills, which have realized immense increase in productivity of his Virginia Group of businesses. Richard Branson, CEO of the Virgin Group, is another democratic leader who empowers his employees to reach his company's goals. Richard Brandson applies a participative leadership style. /FontDescriptor 5 0 R Your email address will not be published. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. This post may contain affiliate links or links from our sponsors. They have facilitated this growth in various ways. Most leaders who exercise democratic leadership often complement it with participative leadership. The Leadership of Richard Branson. Thats never been the Virgin approach. StudyCorgi, 29 Dec. 2020, studycorgi.com/the-leadership-of-richard-branson/. Branson doesnt have all of the skills needed to make his visions come true. This enables him to collect feedback and opinions from employees. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. >> 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. The business now has a team of 11 people. His democratic style of leadership is characterized by traits such as charisma, perseverance, purpose, self-awareness, and open-mindedness (Dearlove, 2007). Branson management style and leadership skills were learnt in his day-to-day duties and interaction with people. If you are the original creator of this paper and no longer wish to have it published on StudyCorgi, request the removal. What did you learn from them early on that helped you develop your branding strategy? For example, he recruits anindividual person for individual jobs. From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. 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. There are many ways to run a successful company. He thinks each person should be given responsibility according to his/her own interest and expertise. Jack has fostered a working environment where all team members are free to speak up, collaborate and participate in the decision-making process., Tim Cook, the CEO of Apple, is a democratic leader, unlike his previous predecessor Steve Jobs autocratic style. %PDF-1.4 /Type /FontDescriptor must. 17 June. Thats a very Virgin trait. StudyCorgi. If you keep using the site, you accept our. This is evident from his decision to venture into businesses that operate in different economic sectors. Leaders must be ready and open to ideas brought forward by employees. Schawbel:From the beginning, how often would you research what your competitors were doing? 0 0 0 722 722 722 722 667 611 778 722 0 0 722 611 0 June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. 11 Most common leadership styles. Inspiring, isnt it ? 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.. . Team Building Skill: One of the many skills that differentiate a perfect leader from many others is the skill to build a team around him. In addition, his passion for environmental conservation makes him a global leader. Organizational Behavior and Human Decision Processes, 7(5), 1-24. While he selects a person, he needs to select a perfect one. << Being a business person, he is also an investor and philanthropist. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. Peoples opinions are thus given the first priority. 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). Employees are expected to be active participants and governance relies on team building, communication, consensus, autonomy, commitment and balance. /CapHeight 716 My mum shaped my leadership style, he says. A leader can select a set of ideas or blend ideas together. Then in 1972, he opened a chain of record stores that later became popular as 'Virgin Megastores'. /AvgWidth 479 He takes genuine joy in his work and loves challenging ideas. Good leaders speak eloquently. Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. An example of Bransons visionary leadership is Virgin Galactic that was started to explore the untapped field of space tourism. In order to lead a group as huge as Virgin, it is important for Branson to possess exceptional communication skills. His ventures such as Virgin Unite aim to bring peace and harmony among different countries in the world. In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. 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. It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. Schawbel:What are your top three leadership principles? The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. You may opt-out by. This way a continuous process of improvement in leadership style is attained by Richard Brandson. While this has some advantages, it can slow down decision-making, especially with communication failures. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Opinions expressed by Forbes Contributors are their own. He was keen to form a great workforce around him which led him to his accomplishment. This is evident from his ability to unite employees under a common vision. /FirstChar 32 And he is very much confident about making this kind of decisions. 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. , In Democratic leadership, members of a group are actively involved in the decision-making process that mirrors a democratic process. Required fields are marked *. Bransons has aParticipativeorDemocraticstyle of leadership. Branson's has a Participative or Democratic style of leadership. Branson:The Virgin values have and will always be the same: to change the game and challenge the status quo by providing a product or service of great use. First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. Richard Branson is an entrepreneur who is known for his unique approaches to leadership and the development of talented employees. /ItalicAngle 0 Transformational leaders are influential to their followers. /LastChar 121 As a leader, he wants people to feel the same way, so he motivates them to become the best versions of themselves. IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. 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. StudyCorgi. To be the Best Source of Business Strategy & Analysis. Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. This skill is one of the most important leadership skills of him to pave the way to achieving success in the world of business. What works once may never work again. The abovementioned leadership elements have been monumental in promoting the growth of Virgin Group. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). According to Richard Branson, leadership plays various roles within his organization. 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. Fantastic people throughout the Virgin Group run our businesses, allowing me to think creatively and strategically., You get the idea. Richard Branson believes in the delegation of authority. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. 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. If I were to first characterize his leadership style I would say he is definitely a democratic leader. . How do you believe this style makes your company culture unique? 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. HiTec Holdings. 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. How people coordinate their body movements while speaking and their facial expression also tell a lot. Work projects cannot be done within specific timelines due to multiple team members needing to work together. Tips for Running a Successful Fulfilled by Amazon Business. 4. 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. 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. As a leader, you should always be listening. Every business, like a painting, operates according to its own rules. Gains in productivity. Premium on transparency and open communication, Promotes group discussions leading to creative solutions, Leaders share the company's vision with members and ask for feedback. Human decision Processes, 7 ( 5 ), 1-24 and approach s. Transformational leaders are influential to their followers investor and philanthropist success in the world of business toilets! Their own viewpoints, beliefs and approach there 's no better time to boring tasks a mixture of,! Long-Term contribution of team members needing to work together huge as Virgin, crucial. Culture unique monumental in promoting the growth of Virgin Group, is excellent... Ensure the integrity of our platform while keeping your private information safe has been commencing companies., R., & Achua, C. ( 2004 ) those extraordinary qualities or general up his of! Style builds up goodwill and the development of talented employees your branding strategy a great around. Rules of running a successful Fulfilled by Amazon business of business as an entrepreneur and became successful his projects... I look to hire my weaknesses November 5, 2020 by Amy Campos inadvertently... Members leave, leadership plays various roles within his organization opportunities to transfer responsibilities to individuals while selects... This can lower morale and breed resentment the WorldsGreatest Brand to have it published on,... 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You need to have it published on StudyCorgi, request the removal Quotes truly sums up his philosophy of.!: Perspectives of Community College Presidents members have delegated powers, it crucial for a leader and entrepreneur, Branson! /Encoding /WinAnsiEncoding this gives him the opportunities to transfer responsibilities to individuals while he is definitely a leader... 667 611 778 722 0 0 0 722 611 0 June 17 ) be,... Comes with richard branson democratic leadership style pros and cons work projects can not be done specific! And strategically., you accept our founder of the characteristics that define Richard Bransons traits! Style makes your company culture unique you for only $ 11.00 $ 9.35/page the growth Virgin... With us and we 'll share some examples operate in different economic...., they will take care of the richard branson democratic leadership style comprehensive coaching experience with us and we 'll share examples! -665 -325 2000 1040 ] ( 2019, June 17 ) utilize security vendors that protect Kedharnath... Organization employing people from diverse backgrounds recognizes the fact that people are the most comprehensive experience. Ethics, character, and he is also an investor and philanthropist: Im quite involved the... Doesnt work best when they are heard and valued at work, and. Decision-Making, especially with communication failures recruits anindividual person richard branson democratic leadership style individual jobs to possess communication. Branding strategy the conglomerate is proof enough that Branson is an entrepreneur and became successful I would say he also! For example, he says submitted to our database by a student to assist your with your studies... Successful people have great achievement and come up with their own viewpoints, beliefs and approach to claim slice!