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. While he rolls with the punches better than most visionary leaders, he does have high expectations. From the student life, he has been commencing new companies. endobj 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. (2020, December 29). While talking with Forbes, he claimed that learning and leadership skills go hand in hand. It recently won a Queens Award in International Trade. This paper was written and submitted to our database by a student to assist your with your own studies. >> Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. 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. Virgin Group owns about 400 companies. While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. What is the best course of action when consensus is not realized. 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. he mentioned himself as a collaborative and democratic person. << Virgin Group is committed aligns its businesses in a manner that promotes environmental conservation. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. /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. Dan Schawbel: How would you describe your leadership style? But with extreme wealth comes extreme responsibility. In addition, more skills increase the availability and accessibility of opportunities in the labor market. While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. 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. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. Richard Branson (Photo credit: BBC) December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. 1884 . Connect with him onLinkedIn. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. My first business venture was Student magazine. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. He is an avid reader and loves swimming as a hobby. 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. When team members know their input will be needed, they will likely improve their knowledge by spending additional time preparing to share their feedback, especially on tough decisions. We utilize security vendors that protect and I caught up with Sir Richard Branson, as he was releasing his latest book,The Virgin Way: Everything I Know AboutLeadership. 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. Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Branson is famous for his success in the business field with his unique characteristics, which are an attribute to his success. When Financhill publishes its #1 stock, listen up. He has introduced more than 400 companies. 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. First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. This has given leverage to employees to apply their best judgment. He was born in the year of 1950. The Ability to Think Differently:Richard Branson believes in thinking different. Richard Branson also believes that giving ample attention to what his people think helps the Virginia group to move to the next business level. Learn: Learning and leadership go together. This enables him to collect feedback and opinions from employees. Finally, his visionary nature has been a key component of the groups expansion. A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). 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. (2006). 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. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? Instead, his leadership style comes from his personality and learning from his own mistakes. 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. Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. /Filter [/FlateDecode] For example, he recruits anindividual person for individual jobs. Each person holds different types of leadership personality which make him successful. This leadership style builds up goodwill and the long-term contribution of team members. To be the Best Source of Business Strategy & Analysis. 6fLHg(bMO\TX ,?$N|. Dan Schawbel is a speaker and best-selling author. Laughter: My number one rule in business, and in life, is to enjoy what you do. Why is the UN Studying Solar Radiation Modification? 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.. Human Skill:His human skill is so strong. He does, however, have a charismatic personality that gets other people excited about his ideas. You learn by doing, and by falling over, and its because you fall over that you learn to save yourself from falling over. /FontDescriptor 7 0 R 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. * 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. As a leader, you should always be listening. Strong leadership skills are vital for founders of growing businesses. Walt Disney A Transformational and Charismatic Leader, Emmeline Pankhurst A Transformational Leader, Mentoring, Coaching & Professional Learning, Foundation for great customer care: Employees first, customers second., Participative Leadership: Perspectives of Community College Presidents. I also think its vital to quickly understand peoples strengths and weaknesses and determine how they fit and complement your own, adds Fuller. Let's explore seven key lessons for entrepreneurs and leadership. Branson's Democratic leadership style Branson could be an even more effective leader by adopting a democratic leadership style. 2. /BaseFont /Arial-BoldMT This is IvyPanda's free database of academic paper samples. Democratic Leadership Allows Efficiency in Problem Solving. /Flags 32 " Walk the floor, get to know your people ," Branson urged. Democratic Leadership Results in Higher Levels of Commitment. One leadership style that is popular and often works well is Democratic leadership. Kedharnath, U. 2023 Industry Leaders Magazine. << According to his leadership philosophy, people will fail when they try new things. Team members are likelier to appreciate honest leadership; concealing information will lead to disengagement and disillusionment. Gains in productivity. New York: Penguin Publishing Group. He constantly takes risks to see what works and what doesnt work. Creating a happy, cohesive, successful team than about being "Right and in Control". Assessing Leadership: A View from the Dark Side. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. 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. As outlined above, democratic leadership comes with its pros and cons. Mills, J., Bratton, J., & Forshaw, C. (2006). Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. 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. Organizational Behavior in a Global Context. Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. This happens since democratic leadership relies on consensus. 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). And that ability to engage with people and take them with him on the most. Branson created Virgin Management Limited to facilitate communication among the various companies that he heads (Dearlove, 2007). Based on these criteria and considering how Richard Brinson has managed to build his success in his business empires, it is possible that his leadership style is not a good fit for a manager because the work of management is different from the work of leadership. Richard Branson strongly believes in the process of mentorship. Veritone vs C3.AI: Which Is Better AI Stock. This means that time is wasted in attempting to articulate the ideas developed by employees with a practical solution for the success of an organization. << 17 June. 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. He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. 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. Community college journal of research and practice(1066-8926), 36 (2), p. 67. Your email address will not be published. Richard Branson, CEO of the Virgin Group, is another democratic leader who empowers his employees to reach his company's goals. "The Leadership of Richard Branson." 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. He searches for the best person for a specific type of joband recruits him/her. 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.. Branson, R. (2014). Richard Branson is a British Business magnate and investor, best known as founder and chairman of Virgin Group. Richard Branson is on the successful business person which follows democratic leadership approach. Motivated and inspired employees work harder and smarter because of the existence of a common purpose to pursue (Sosik & Jung, 2012). 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. Indeed, this strategy has been proved by various scholarly evidences to work even in different organizational settings. /StemH 78 Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. 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. Oops! Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. 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. Employee motivation is one of the most important aspects of achieving success in an organization because motivated employees are highly productive, satisfied with their jobs, and focused (Mills, Bratton& Forshaw, 2006). Later he started his own Airways service Virgin Airways. This fact lends itself well to companies or organizations with democratic leadership. Mentors are the great teachers. More important, leaders should acquire professional writing skills, be able to correctly spell, and use grammar appropriately. If you keep using the site, you accept our. What type of leader is Richard Branson? They have facilitated this growth in various ways. This means that a leader should have the ability to develop teamwork to enhance employees motivation. While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. 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. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. He truly feels that getting other peoples input and listening to what. A monthly letter issued to employees details his vision, plans, the groups challenges, potential solutions, and new plans. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. He thinks, the business that fulfills the needs of the people can create value vastly, it improves their lives. Employees are more engaged and perform at their best when they are heard and valued at work. A good role model believes in individuals, trusts, and shows confidence in them (HiTec Holdings, 2006). 11 Most common leadership styles. 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. 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. The Leadership of Richard Branson. The question is,How do you achieve the best skills to be a great leader and touch the success? 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richard branson democratic leadership style