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. He prioritizes the personality over the educational background. He is successful in building 400 companies under the brand name of Virgin. With regard to HiTec Holdings (2006), the purpose of leadership in any organization is to avail new ideas and innovations. A leader needs to consult several team members, listen to their views, and collect feedback. Every leader has a unique, personal style. By showing his appreciation for hard work, he keeps everyone focused on their tasks. What type of leader is Richard Branson? Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. Full Range Leadership. 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.. /Flags 32 Instead, he allowed his employees to apply their innovative ideas to best deal with the various kinds of business situations. This gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. >> 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. If you love what you do and if you believe in what you do, others will share your enthusiasm. Evidence of his leadership permeating a company can be seen by just about any Virgin Atlantic passenger, who is likely to have received a warm and welcoming customer experience when checking in or up in the skies. Retrieved from https://studycorgi.com/the-leadership-of-richard-branson/, StudyCorgi. 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. And his book, "The Virgin Way: Everything I Know. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. 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. . Stiff competition and the unpredictability of financial markets are some of the reasons why many companies fail or achieve average success. Schawbel:What is your process for selecting leaders at Virgin? This has given leverage to employees to apply their best judgment. She says: He has always written about businesses being a force for good in the lives of employees and customers and Ive tried to apply that philosophy in the businesses Ive founded. If you dont enjoy what you are doing, then you shouldnt be doing it. As a leader, he wants people to feel the same way, so he motivates them to become the best versions of themselves. He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. 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. It cultivates a culture of Best Ideas wins.. Being a business person, he is also an investor and philanthropist. He thinks each person should be given responsibility according to his/her own interest and expertise. (2020) 'The Leadership of Richard Branson'. Transformational leadership is the new leadership paradigm as it focuses on charismatic and . 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. 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. In some ways, Branson is too flexible to fit into the visionary leader category. /Ascent 905 After observing these traits, I would analyze them and draw conclusions. Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. Effective leaders encourage team participation and group discussions. Branson doesnt have all of the skills needed to make his visions come true. Virgin Group is committed aligns its businesses in a manner that promotes environmental conservation. (2020, December 29). Minnesota, US: Southwestern. /Type /Font Working in teams ensures that employees attain goals and organizational objectives faster and more efficiently. As outlined above, democratic leadership comes with its pros and cons. Work projects cannot be done within specific timelines due to multiple team members needing to work together. One of his most famous quotes truly sums up his philosophy of leadership: Clients do not come first. Web. Advantages. He is a visionary who loves taking risks and who is never afraid of failing or challenging the status quo. Personality before CV. 11 Most common leadership styles. What Might That Mean For The Economy? In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. 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). Lets go further and try one of the most comprehensive coaching experience with us. In a way, Richard Branson is a laissez-faire leader because he believes in letting people learn from their mistakes. Democratic leadership can be defined as the performance of three functions: distributing responsibility among the membership, empowering group members, and aiding the group 's decision-making process (Gastil, 1994). Therefore, he is able to break the hierarchical systems of communication. One of the most notable aspects of his leadership is his passion for environmental conservation. When he select a person for his business, he can do it very easily as he knows about different types of personality. This report on Leadership Style of Richard Branson was written and submitted by your fellow The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. Richard Branson likes to help the people around him, but he isnt a servant leader. 6fLHg(bMO\TX ,?$N|. Adaptability skill helped him to grow his business and fame faster. November 5, 2020 by Amy Campos. Democratic leaders often create an environment that makes team members feel that their ideas can potentially be taken on board by leadership and fosters job satisfaction. Facebook to Acquire the Waze App for $1BN? Is It Time To Change Director Board Compensation In Private Real Estate Firms? 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. 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. stream According to his leadership philosophy, people will fail when they try new things. 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. Mills, J., Bratton, J., & Forshaw, C. (2006). Experiences of bad management at work can also influence the way people approach leadership when they decide to launch their own business. He does this through engaging his employees in direct conversations. From the student life, he has been commencing new companies. We will write a custom Report on Leadership Style of Richard Branson specifically for you for only $11.00 $9.35/page. As a leader, one should be a team builder. 1. To bring success to your business as well as to be a successful business leader you need to have a wide range of qualities and skills. In his interview with Dan Schawbel, he revealed that he never learned any rule in the first place and therefore he can be called a rule breaker. 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 want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. It recently won a Queens Award in International Trade. Richard Brandson applies transformational leadership. 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. Fantastic people throughout the Virgin Group run our businesses, allowing me to think creatively and strategically., You get the idea. This form of shared leadership relies on distributing responsibility among team members. Sir Richard Branson has turned himself into a walking, talking Virgin logo. Every business, like a painting, operates according to its own rules. 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. 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. 1. Principle #1: Treat People As People. student. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. /FirstChar 32 /Type /FontDescriptor Save my name, email, and website in this browser for the next time I comment. This skill is one of the most important leadership skills of him to pave the way to achieving success in the world of business. (2019, June 17). He is an English businessman and a venture capitalist. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. 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. "Leadership Style of Richard Branson." Organizational Behavior in a Global Context. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. Democratic leadership style, by its very nature, prioritizes honesty, so using this style of leadership brings in all the advantages of openness between a leader and team members. He is the founder of Virgin Group which has control over 400 companies. On the other hand, his leadership style has ensured that Virgin Group expands to different economic sectors and countries around the world. 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. He does, however, have a charismatic personality that gets other people excited about his ideas. For example, he recruits anindividual person for individual jobs. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. 6. (2006). Essentially, leadership plays four main functions within an organization. As a leader, one should be a team builder. While this has some advantages, it can slow down decision-making, especially with communication failures. 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. 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. The Ability to Delegate:Richard Branson believes in thedelegation. Creating a happy, cohesive, successful team than about being "Right and in Control". Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. He encourages consensus among senior managers and favors delegation and more autonomy.. /FontName /Arial-BoldMT The commitment is about doing things differently. 17 June. Your submission has been received! Employees are more engaged and perform at their best when they are heard and valued at work. Leaked tax return reveals secret to pocketing $460,164 George Soross Most Undervalued Holding Is Surprising. Web. His charisma is vital in uniting employees to work towards the achievements of the visions and missions that different companies pursue. He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. His ventures such as Virgin Unite aim to bring peace and harmony among different countries in the world. He believes that every day should bring joy. How do you believe this style makes your company culture unique? You may opt-out by. StudyCorgi. /StemV 78 Richard Branson can easily learn about different types of personality and their expertise. For example, he recruits anindividual person for individual jobs. Leadership Theory, Application, Skill Development. All Rights Reserved. Leadership Style of Richard Branson. He shares what he knows, but he also understands that people learn best from action. 1884 . 3. This can make the democratic process chaotic. Web. 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. New York: John Wiley & Sons. 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. Branson management style and leadership skills were learnt in his day-to-day duties and interaction with people. /StemH 78 While Branson doesnt fit into a specific category, his style does show characteristics of: Branson would likely laugh at any of these suggestions, but his decades of leadership speak for themselves. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. Our strategy has been to screw business as usual. IvyPanda. 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