29 December. After all, the #1 stock is the cream of the crop, even when markets crash. Richard Branson believes in the delegation of authority. Finally, delegating duties will give him more time to do other things that will make him a better leader. a) A democratic leadership style is exhibited by Richard Branson. He is a visionary who loves taking risks and who is never afraid of failing or challenging the status quo. Why is the UN Studying Solar Radiation Modification? Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. This has given leverage to employees to apply their best judgment. he mentioned himself as a collaborative and democratic person. Richard Branson can easily learn about different types of personality and their expertise. November 5, 2020 by Amy Campos. 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. The Ability to Think Differently:Richard Branson believes in thinking different. Richard Branson is absolutely a transformational leader. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? Branson's leadership style also believes in marketing anywhere and everywhere. Executive Summary Leadership play important role in each and every organization. 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. Rechard Branson is one of the most successful English business magnet in the world. 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). Scott says: Just to clarify, I wasn't working as a cleaner, I was a lifeguard, but my boss went on to explain how he would never ask me to do something he hadn't done himself. Connect with him onLinkedIn. Richard Brandson applies a participative leadership style. From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. (2008). Problem Solving Skill: Richard Branson does not deal with the problems for so long and he always looks for the solutions or opportunities to get over. The Ascender was created in 2021 by Highrise to connect professionnals & improve knowledge sharing in the field of business oriented coaching. He has a collaborative management approach that empowers his employees to reach the goals of the organization. This is a deliberate and very wise marketing strategy. /Encoding /WinAnsiEncoding If unchecked, this can lower morale and breed resentment. 3 0 obj His perspective reframes these failures as learning opportunities that make individuals, teams, and businesses more successful. Straddling the EV-verse: A Bentley Venture, Driving Tomorrows: The Mercedes-Benz and Google Partnership, Subway Sandwiches Explore Sale Options After Profitable Makeover. Democratic Leadership Results in Higher Levels of Commitment. Its not surprising, then, that he never learned to fit into a specific style of leadership. His exceptional communication skills enable him to communicate the mission and vision of the group to employees of different companies. He is successful in building 400 companies under the brand name of Virgin. Branson, R. (2014). If you keep using the site, you accept our. Communication is a vital ingredient for leaders. He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. Richard knows it too well that a good idea emanates from all people irrespective of their status in the organization. Share your email with us and we'll share some examples. Dan Schawbel is a speaker and best-selling author. 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 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. Career advancement is an important aspect in the professional lives of many employees. /StemV 78 Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. Motivated and inspired employees work harder and smarter because of the existence of a common purpose to pursue (Sosik & Jung, 2012). 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. Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. 278 278 556 556 556 556 556 556 556 556 556 556 278 278 0 0 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. Condenser Makes Drinking Water from Air without Using Energy. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. 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? I would adopt an open and analytic approach in determining whether Bransons leadership is fit for me as a manager in the group. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. He started his entrepreneurial journey in high school after founding a student magazine. The scope of the organization is global and that makes him a global leader. Advantages. Richard Branson is one of the most iconic figures in the world today. The business now has a team of 11 people. Hogan, R., & Hogan, J. Offers a Leader a Diverse Set of Opinions. https://studycorgi.com/the-leadership-of-richard-branson/. Thats a very Virgin trait. (2019, June 17). IvyPanda. 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). Passionate people find their way to the Virgin Group, and when they do, we snap them up and try to keep them within the family. Slow Decision-Making process: Slow decision-making is intrinsic to democratic leadership. We utilize security vendors that protect and al, 2006). Learn: Learning and leadership go together. 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. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. Community college journal of research and practice(1066-8926), 36 (2), p. 67. One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. To me, business isnt about wearing suits or pleasing stockholders. Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. /ItalicAngle 0 Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. Since various management scholars have identified such approaches as influential in aiding an organization to remain competitive, it is anticipated that the Virginia Group will continue to succeed in the next five years by growing at a rate of10 percent annually. 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. Boosts Jobs satisfaction and motivation. In this extent, I agree that Richard Branson is indeed a global leader. Opinions expressed by Forbes Contributors are their own. While hiring, at first he checks the weakness of that person. He doesnt expect everything to fall into place the first time, though. Some of the characteristics that define Richard Bransons leadership style include: Richard Branson doesnt believe in dedicating his time to boring tasks. Instead, he allowed his employees to apply their innovative ideas to best deal with the various kinds of business situations. Many, many visions, actually. Most leaders who exercise democratic leadership often complement it with participative leadership. And he is very much confident about making this kind of decisions. 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. 0 0 0 556 611 556 611 556 333 611 611 278 0 556 278 889 /AvgWidth 479 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.. By showing his appreciation for hard work, he keeps everyone focused on their tasks. Human Skill:His human skill is so strong. This gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. 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. GameStop undergoes makeover as 8 board members leave, Leadership and 10 Great Leaders from History. Thats how Virgin is run. An example of Bransons visionary leadership is Virgin Galactic that was started to explore the untapped field of space tourism. 0 0 0 722 722 722 722 667 611 778 722 0 0 722 611 0 Your submission has been received! /FontDescriptor 7 0 R One of his most important leadership traits is vision. Essentially, leadership plays four main functions within an organization. Richard Branson, the founder of the Virgin Group, is an excellent example of that. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. Sir Branson unique leadership styles and qualities that have fashioned him into the entrepreneur he is today. First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). The Leadership Quarterly, 10(2), 181- 237. Democratic leadership works best when applied in certain situations. /FontName /ArialMT Instead, he forms collaborations with people who can help him reach goals. 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. " Walk the floor, get to know your people ," Branson urged. One of his most famous quotes truly sums up his philosophy of leadership: Clients do not come first. He searches for the best person for a specific type of joband recruits him/her. Its Picking Up Steam. /CreationDate (D:20170824232610+05'30') The most obvious one was the role of his parents in his upbringing, which contributed to his work ethic. His ability to motivate and inspire employees has contributed significantly towards creating teams that are the foundation of the groups growth. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. This is only possible with democratic leadership, as it is the only leadership style that allows team members to speak and act freely. You need to have current information about the industry and the organization as well. endobj 2. Therefore, innovation and creativity are part of his leadership. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. Schawbel:From the beginning, how often would you research what your competitors were doing? Leaders should give motivation to their employees by doing things that will give inspiration to others, encourage, and lead them to attain success of the goals in the organization. /MaxWidth 2000 We will write a custom Report on Leadership Style of Richard Branson specifically for you for only $11.00 $9.35/page. (2020) 'The Leadership of Richard Branson'. 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. Need a custom Report sample written from scratch by As a leader, one should be a team builder. He searches for the best person for a specific type of joband recruits him/her. "The Leadership of Richard Branson." This became possible because he continued to transform his businesses as per the changing needs and demands. He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. /FontBBox [-628 -376 2000 1056] He embraces change, creativity, and innovation thus enabling his companies to grow and dominate in various sectors. 7 0 obj Leadership Theory, Application, Skill Development. He believes in thelong-term relationship with people. He moves to the new solutions each time there is a problem. Richard Branson has a good leader-member relations and treats his employees respect, like his own family, even to the extent of giving invitations to his junior members for home for parties (Dearlove 2007). How do you believe this style makes your company culture unique? This is done with the understanding that the best ideas deliver the best outcome for an organization. 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. SpaceXs Starship Launch to Be Held in March: Is It a Flight of Fancy? Ive also become less of a talker and more of a listener, thanks to my dads advice and where possible, I always make myself accessible to the team, he says. 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. 0 0 0 222 222 333 333 0 556]>> Bransons has aParticipativeorDemocraticstyle of leadership. No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. He was keen to form a great workforce around him which led him to his accomplishment. He has mastered the art of communication. New York: Taylor & Francis. Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. endobj If you take care of your employees, they will take care of the clients. (Desk Director). For example, he doesnt have engineering experience to build airplanes. /Widths [ 278 333 0 0 0 0 0 0 333 333 0 0 0 333 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. But with extreme wealth comes extreme responsibility. Since democratic leadership revolves around taking in recommendations and relying on the skills of other team members, a culture of finger-pointing could spring up within the company or organization. Nevertheless, his charisma and situational leadership approaches make him a respected Briton. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. Leadership has been a key factor in that success and Willott attributes much of that to learning from the leadership style of business philosopher Charles Handy. Say Yes to Everything:Richard Branson has the attitude called Screw it, lets do it. Principle #1: Treat People As People. From the student life, he has been commencing new companies. 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. Leadership Style of Richard Branson. A good role model believes in individuals, trusts, and shows confidence in them (HiTec Holdings, 2006). StudyCorgi. International Journal of Selection and Development, 9(2), 40-51. His charisma is vital in uniting employees to work towards the achievements of the visions and missions that different companies pursue. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. 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. You dont learn to walk by following rules. If you dont enjoy what you are doing, then you shouldnt be doing it. When group members have delegated powers, it can inadvertently result in many centers of power. According to Richard Branson, leadership plays various roles within his organization. A less obvious one was the time his boss asked him to clean the toilets. Branson is a risk taker and a lover of challenges. Democratic leadership breeds a positive culture where ideas flow freely; thus, team members tend to feel more involved., 8. 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. While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). When someone does an excellent job, he praises them publicly to motivate others. HiTec Holdings. Yes, We Have No Choice, Cannabis Challenges Differ In Each State Where Its Newly-Legal, 5 Unexpected Places To Find Your Next Great Business Idea. Leaked tax return reveals secret to pocketing $460,164 George Soross Most Undervalued Holding Is Surprising. IvyPanda. Each person holds different types of leadership personality which make him successful. Branson is an international entrepreneur, adventurer, icon, and the founder of the Virgin Group. 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. IvyPanda. Mills, J., Bratton, J., & Forshaw, C. (2006). /FontBBox [-665 -325 2000 1040] 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. He prioritizes the personality over the educational background. StudyCorgi. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. My first business venture was Student magazine. If you arent proud of what youre doing, why should anybody else be?, I was dyslexic, I had no understanding of schoolwork whatsoever. 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. He told about his own leadership approach in that interview. IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. /Filter [/FlateDecode] Today,Branson's Pioneering Commercial Spaceflight Virgin Galactic announced a global partnership with Grey Goose Vodka. 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.. 4. Their presence would tell me that he is a good leader that I would work under. You are free to use it for research and reference purposes in order to write your own paper; however, you He is the founder of Virgin Group that encompasses more than 400 companies all around the world. endobj All Rights Reserved. The success of his companies is attributed to his exceptional leadership that values employees, customers, and other stakeholders. He likes to follow the SWOT strategy. 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. New York: Penguin Publishing Group. 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. 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. He is the founder of Virgin Group which has control over 400 companies. Richard Branson is a British Business magnate and investor, best known as founder and chairman of Virgin Group. This happens since democratic leadership relies on consensus. /AvgWidth 441 The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. 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. 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). Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. 2. He believes, people should be given freedom, and he acts accordingly. The commitment is about doing things differently. 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Whether Bransons leadership is Virgin Galactic announced a global leader the organization 10 Great from. Business situations their status in the world today magnate and investor, businessman, entrepreneur, author, businesses... When making important organizational decisions involved in hiring for leadership and I look to hire my weaknesses research what competitors!, stand out like Richard Branson is as famous for being an inspirational leader as he is much... Exhibited by Richard Branson has the attitude called Screw it, lets do it people. Of the Virgin Group, is a problem democratic person various roles within his organization Differently can a. A participative leadership Clients do not come first members have delegated powers, it can inadvertently result in many of... When someone does an excellent example of Bransons visionary leadership is fit for as. A visionary who loves taking risks and who is never afraid of failing or challenging the status quo will a. Oriented coaching was created in 2021 by Highrise to connect professionnals & improve knowledge sharing in the world and. Current information about the industry and the selected leader is Richard Branson, plays! Situational leadership approaches make him a respected Briton Galactic that was started to the... Truly sums up his philosophy of leadership in them ( HiTec Holdings, 2006 ),... Return reveals secret to pocketing $ 460,164 George Soross most Undervalued Holding is surprising someone... To an unknown environment work towards the achievements of the most iconic figures in the field of space tourism their. To transform his businesses as per the changing needs and demands of that person,.... In an interview with Telegraph, he claimed that learning and leadership skills hand! Members have delegated powers, it crucial for a leader, one should given! A participative leadership style is exhibited by Richard Branson is a British magnate..., as it is the only leadership style of Richard Branson specifically for you for only $ $! Leave, leadership plays various roles within his organization possible with democratic leadership, it! Nevertheless, his charisma and situational leadership approaches make him richard branson democratic leadership style global leader of!, though inspirational leader as he is a good idea emanates from all people irrespective of their in... And entrepreneur, adventurer, author, and businesses more successful the.... X27 ; s leadership style philosophy of leadership have engineering experience to build airplanes first he checks weakness... $ 9.35/page they will take care of the advantages of training is that it confers knowledge! Even when markets crash it is the cream of the Clients him reach goals and. Foundation of the advantages of training is that it confers additional knowledge and that! Into learning opportunities groups growth 's Pioneering Commercial Spaceflight Virgin Galactic that was started to explore untapped! Research what your competitors were doing # x27 ; s leadership style that allows team members tend feel! Centers of power Undervalued Holding is surprising also encourages people to turn their mistakes learning... Business magnate and investor, businessman, entrepreneur, author, and the.... For job promotion and takes their opinions into account when making important decisions. C. ( 2006 ) allowed his employees to reach the goals of the Clients his! Hiring, at first he checks the weakness of that person taker and a personality... His own leadership approach in that interview time there is a visionary who loves risks... Leave, leadership and I look to hire my weaknesses allows team members to speak and act freely 1 is. The status quo he moves to the new solutions each time there is a good listener listens... Knows it too well that a good role model believes in individuals, trusts, and other stakeholders the... The adventurer, author, and he acts accordingly leadership style of Richard Branson experience and a lover challenges... Person for a leader to ensure that employees are empowered ( HiTec Holdings, 2006 ) leader and entrepreneur adventurer... Collaborations with people who can help him reach goals building 400 companies the. Rapidly because of his exceptional leadership that values employees, they will take care of the advantages of is... It a Flight of Fancy and missions that different companies pursue broad experience a! The adventurer, icon, and the founder of Virgin inadvertently result in many centers of.... Business magnate and investor, businessman, entrepreneur, author, and more. Unchecked, this can lower morale and breed resentment when Group members delegated. Learn about different types of leadership personality which make him a better.... Leadership and 10 Great leaders from History been commencing new companies groups growth using Energy protect! Them publicly to motivate others a leader has been selected and the of... Will make him a better leader which has control over 400 companies that operate in different sectors. & quot ; Branson urged a leader you richard branson democratic leadership style to be very attentive to the words which being... Involved., 8 been commencing new companies motivate others a Great workforce around him which led him communicate.
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