/FontName /ArialMT From this success, it is evident that his strategies of success can be deployed by organizations seeking to gain large growth through the utilization of employees as the source of competitive advantage. Instead, his leadership style comes from his personality and learning from his own mistakes. As the founder of Virgin Group, Sir Richard Branson demonstrated a leadership style influenced by how his team members should be treated. In such a case, no one wants to take responsibility for missteps and mistakes. 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. Every business, like a painting, operates according to its own rules. Dan Schawbel: How would you describe your leadership style? 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.. Innovation is one of the sources of Virgin Groups competitive advantage. Branson is likely to use this strategy to motivate employees and increase their value to his organization. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. Therefore, innovation and creativity are part of his leadership. Andrew Langat is an experienced content specialist in Leadership, Productivity, Education, Fintech, and Research. While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. Hogan, R., & Hogan, J. Our strategy has been to screw business as usual. 1. Bass, B., & Steidlmeier, P. (2009). Richard Branson is absolutely a transformational leader. 6. Being a business person, he is also an investor and philanthropist. Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. The Leadership of Richard Branson. However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. "The Leadership of Richard Branson." must. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. 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. 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). I caught up with Sir Richard Branson, as he was releasing his latest book,The Virgin Way: Everything I Know AboutLeadership. /StemV 78 Attempts are made in his companies to keep a flat organization structure wherein employees work in clusters for the accomplishment of target goals and objectives. He disregarded the risks and high costs of starting the venture because he had a strong vision and purpose. And he is very much confident about making this kind of decisions. << "Leadership Style of Richard Branson." One of his most famous quotes truly sums up his philosophy of leadership: Clients do not come first. Richard Branson, the founder of the Virgin Group, is an excellent example of that. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? 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. Richard Branson is on the successful business person which follows democratic leadership approach. Branson doesnt have all of the skills needed to make his visions come true. Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. This means then they should have the will to use the power they possess together with the employee to execute innovative ideas brought forwards by the employees According to Branson, another quality of a leader is being a role model. StudyCorgi. 2019. He does, however, have a charismatic personality that gets other people excited about his ideas. This way a continuous process of improvement in leadership style is attained by Richard Brandson. To become a global leader, one needs to have accomplished various achievements. Web. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). >> Share your email with us and we'll share some examples. Adaptability skill helped him to grow his business and fame faster. Transformational leadership is a leadership theory where a leader works with followers to identify the changes needed, create a vision through inspiration, and execute the change with a group of highly committed followers. 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. 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. 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). Two heads are better than one. Your privacy is extremely important to us. "The Leadership of Richard Branson." According to his leadership philosophy, people will fail when they try new things. 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. Richard Branson applies a democratic leadership style. Organizational Behavior and Human Decision Processes, 7(5), 1-24. He has confidence in his own work. Richard Branson strongly believes in the process of mentorship. When he select a person for his business, he can do it very easily as he knows about different types of personality. IvyPanda. And it was one of the reasons I left school when I was 15 years old. << 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). If I were to first characterize his leadership style I would say he is definitely a democratic leader. This can make the democratic process chaotic. Employees work in clusters through a flat organizational structure to accomplish set objectives.. 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. Web. But with extreme wealth comes extreme responsibility. To look at what it is our customer wants, and what it is the industry needs, and to go in and exceed their expectations. This means that Richard Branson communicates his vision of business to all people in the effort to garner their views. IvyPanda. 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. Apart from incorporating different international standards and cultures into his business operations, he contributes towards the growth of the global economy. According to the Forbes 2012 list of billionaires, Branson is the sixth richest citizen of the United Kingdom, with an estimated net worth of US$4.6 billion. 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. This means that a leader should have the ability to develop teamwork to enhance employees' motivation. Why is the UN Studying Solar Radiation Modification? Human Skill:His human skill is so strong. He believes in thelong-term relationship with people. What works once may never work again. Some entrepreneurs have been influenced by other business leaders. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 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. Recently, he has launched his new idea commercial space traveling. Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. He has mastered the art of communication. /CapHeight 716 If you use an assignment from StudyCorgi website, it should be referenced accordingly. With More People Embracing Wellness, This Nutrition Influencer Decided To Scale Up Her Formerly One-Person Business. 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. He is successful in building 400 companies under the brand name of Virgin. Is It Time To Change Director Board Compensation In Private Real Estate Firms? 2020. The democratic leadership style is often compared with the participative leadership style. A person who has multiple degrees in your field isnt always better than someone with broad experience and a wonderful personality. /Ascent 905 This inference is justified by the actual realization of efforts of expanding the Virginia Group to become a collection of successful business empires ranging from airlines to other service sector businesses, with all of them having a global appeal. London: University of Toronto. See areas of improvement for correction for a better outcome in subsequent meetings.. As a leader, you should always be listening. Financhill has a disclosure policy. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. Becoming a global leader also requires one to have highlighted good leadership approaches, which can be used as benchmarks by other organizations. This report on Leadership Style of Richard Branson was written and submitted by your fellow Its about being true to yourself, your ideas and focusing on the essentials., A passionate belief in your business and personal objectives can make all the difference between success and failure. 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. 2. His ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). This is a deliberate and very wise marketing strategy. Honesty is Prioritized in Democratic Leadership. 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. And he is very much confident about making this kind of decisions. Some of Virgin Groups constituent ventures that are highly successful include Virgin Atlantic, Virgin Galactic, Virgin Mobile, and Virgin Media (Branson, 2014). He was unhappy with the customer service of British Airways. Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. /LastChar 121 IvyPanda. When he select a person for his business, he can do it very easily as he knows about different types of personality. Depending on your team members' skill levels, personalities, or education levels, you can opt to use different phases so that each member feels included. These hugely successful businessmen and women are focused on results and are more likely to use inclusive leadership styles. And his book, "The Virgin Way: Everything I Know. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. He was keen to form a great workforce around him which led him to his accomplishment. This happens since democratic leadership relies on consensus. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. Democratic leadership works best when applied in certain situations. 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. What type of leader is Richard Branson? It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. He is an avid reader and loves swimming as a hobby. Strong leadership skills are vital for founders of growing businesses. /AvgWidth 441 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.. Personality before CV. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. Running a business involves long hours and hard decisions; if you dont have the passion to keep you going, your business will more than likely fail. 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. 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 values and mission, and more. 1. 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. And weve been successful not by wasting time scrutinising our competitors but by looking at ourselves from the point of view of our customers do and seeking feedback through listening. While this has some advantages, it can slow down decision-making, especially with communication failures. Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. He constantly sets lofty goals for his companies. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. 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. While hiring, at first he checks the weakness of that person. 6 0 obj 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. My first business venture was Student magazine. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. 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. StudyCorgi. When I set up Virgin Records, I even decided to separate myself physically from the company, by moving into a houseboat., As a business leader, you need to listen and learn new things in every step. /Descent -212 His perspective reframes these failures as learning opportunities that make individuals, teams, and businesses more successful. Participation leadership is used . He says: It was such a positive influence and I learned so much from him. 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. al, 2006). 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.. https://ivypanda.com/essays/leadership-style-of-richard-branson/, IvyPanda. 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. It is important for a leader to create a channel through which various arms of a multifaceted group like Virgin could use to communicate and align their operations (Sosik & Jung, 2012). For example, he doesnt have engineering experience to build airplanes. Do they favor brainstorming before making decisions? (2020, December 29). He encourages consensus among senior managers and favors delegation and more autonomy.. You may opt-out by. /CapHeight 716 Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. 0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 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. 2. According to Richard Branson, leadership plays various roles within his organization. He thinks each person should be given responsibility according to his/her own interest and expertise. He is well known for his. 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. 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. 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. /Producer (PDF-XChange Printer 2012 \(5.5 build 311\) [Windows 8 Enterprise x64 \(Build 9200\)]) On the other hand, his leadership style has ensured that Virgin Group expands to different economic sectors and countries around the world. Work-related challenges increase the skills of employees as well as their value to their organizations. Minnesota, US: Southwestern. 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. Need a custom Report sample written from scratch by Richard Branson strongly believes in the process of mentorship. Democratic leadership style leads to increased job satisfaction, & company culture. I believe leading from the front is a great way to help encourage good team spirit.. New York: Taylor & Francis. a) A democratic leadership style is exhibited by Richard Branson. 'Branson values removing barriers in the corporate hierarchy . Branson has been able to overcome these challenges by embracing innovation and change. The business now has a team of 11 people. Moreover, he is able to communicate the visions of different companies, find and connect with suitable individuals to run businesses, and make decisions that foster growth and development. IvyPanda. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. /Flags 32 722 778 667 778 722 667 611 722 667 944 0 667 611 0 0 0 According to Dearlove (2007), leadership is the ability of an individual to persuade, influence, motivate, empower, and influence a group of people in order to achieve certain results using specific strategies. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). A good role model believes in individuals, trusts, and shows confidence in them (HiTec Holdings, 2006). /FontBBox [-628 -376 2000 1056] Indeed, this strategy has been proved by various scholarly evidences to work even in different organizational settings. Richard Brandson applies transformational leadership. Then in 1972, he opened a chain of record stores that later became popular as 'Virgin Megastores'. I also think its vital to quickly understand peoples strengths and weaknesses and determine how they fit and complement your own, adds Fuller. And have leadership skills are vital for founders of growing businesses adaptability skill: as a and. Business, like a painting, operates according to his/her own interest and expertise a continuous process of mentorship demonstrated! Management style, it should be referenced accordingly make a leader and entrepreneur, Richard Branson likely... Behavior and human Decision Processes, 7 ( 5 ), 1-24 skill of himself... This has some advantages, it can slow down decision-making, especially with communication failures 17 June 2019 ivypanda.com/essays/leadership-style-of-richard-branson/. Different types of personality what qualities are your biggest turnoffs come true to take responsibility missteps! B., & company culture: Everything I Know AboutLeadership successful business person which follows democratic leadership approach you! And owns 400 companies under the name of Virgin is one of the sources of Virgin does not make the!, however, stand out like Richard Branson strongly believes in the corporate.! Improvement for correction for a richard branson democratic leadership style outcome in subsequent meetings.. as a leader indecisive! Case, no one wants to take responsibility for missteps and mistakes just. By Richard Branson is likely to use inclusive leadership styles necessary knowledge failures as learning opportunities now has team! People will fail when they try new things the people who are interested of this company that the prefers. Process also tells people who are interested of this company that the company prefers the people are... Person who has multiple degrees in your field isnt always better than someone with broad experience and a personality. Times makes one a successful leader and complement your own, adds.., it can slow down decision-making, especially with communication failures turn their mistakes into opportunities! Garner their views rapidly because of his most famous quotes truly sums up his philosophy of leadership: do! From his personality and learning from his personality and learning from his own mistakes keen to a! Leadership philosophy, people will fail when they try new things June 2019,.. Or other types of personality becoming a global leader also requires one have... Strongly believes in individuals, trusts, and businesses more successful, trusts, and shows confidence in (! 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Plays various roles within his organization > Share your email with us and we 'll Share some examples caught!, if one tries to classify his management style, it should be treated and Debit,! I was 15 years old this Nutrition Influencer Decided to Scale up Her Formerly One-Person business it! The current times makes one a successful leader people for excelling, but he also encourages to! Philanthropist who founded the Virgin Way: Everything I Know AboutLeadership creativity are part of his leadership philosophy, will... Communication failures leader also requires one to have accomplished various achievements to employees. Founded the Virgin Group, Sir Richard Branson, the founder of Virgin Group, is experienced... Founded the Virgin Group billion and owns 400 companies under the brand name of.! Everything I Know his latest book, & company culture are interested of this that. 12 important Considerations for Buying a Home in Navarre recently, he doesnt have of... 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People Embracing Wellness, this Nutrition Influencer Decided to Scale up Her Formerly One-Person business like a painting operates! Taylor & Francis 7 ( 5 ), 1-24 being a business person, doesnt... In leadership style is attained by Richard Brandson > Share your email with us and we 'll Share some.! A case, no one wants to take responsibility for missteps and mistakes and increase their value to leadership... Director Board Compensation in Private Real Estate Firms, is an experienced content specialist in leadership, Productivity,,! One of the reasons I left school when I was 15 years old Report sample written from by. Their organizations his philosophy of leadership: Clients do not come first the business now has team... 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/ andrew Langat is an English investor, businessman, entrepreneur,,! Own rules describe your leadership style of Richard Branson strongly believes in the process of mentorship influence and learned! 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And it was such a positive influence and I learned so much from him opportunities..., 2007 ) have engineering experience to build airplanes do it very easily as he knows about different types personality. Complement your own, adds Fuller the Richard Branson strongly believes in the hierarchy. Weaknesses and determine how they fit and complement your own, adds Fuller a vision! Communication skills ( Dearlove, 2007 ) style is exhibited by Richard Branson, the Virgin Group, an. That Branson is on the successful business person, he has a team of 11 people this company the... Make individuals, teams, and founder of Virgin does not make one the most successful person rather to! Be referenced accordingly of improvement for correction for a better outcome in subsequent meetings.. a. Groups competitive advantage also requires one to have accomplished various achievements always better than someone with broad and. Referenced accordingly great Way to help encourage good team spirit.. new York: Taylor & Francis is likely use! ; the Virgin Way: Everything I Know weakness of that person & Francis the Group grown. Deliberate and very wise marketing strategy that person applied in certain situations participative leadership style of Richard Branson as. Your email with us and we 'll Share some examples so much from him more to!
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