Richard Branson is an entrepreneur who is known for his unique approaches to leadership and the development of talented employees. Richard Brandson applies transformational leadership. With the helps to this business firm make motivated to their employees for giving better performances. Boosts Jobs satisfaction and motivation. /CapHeight 716 Learn: Learning and leadership go together. The most obvious one was the role of his parents in his upbringing, which contributed to his work ethic. Leadership Skills of Richard Branson. He likes to follow the SWOT strategy. 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). 0 0 0 556 556 500 556 556 278 556 556 222 222 500 222 833 1 Richard Branson and His Leadership Style Student's The democratic leadership style is often compared with the participative leadership style. Good leaders always keep team members appraised of good and bad events within the organization. And he is very much confident about making this kind of decisions. 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. Yes, he always says Yes to almost everything. Democratic Leadership Allows Efficiency in Problem Solving. This fact lends itself well to companies or organizations with democratic leadership. Dan Schawbel is a speaker and best-selling author. 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. Thats a very Virgin trait. This enables him to collect feedback and opinions from employees. He started his entrepreneurial journey in high school after founding a student magazine. This post discusses the leadership skills and qualities of Richard Branson that helped him achieve success. 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. The Leadership Quarterly, 10(2), 181- 237. A less obvious one was the time his boss asked him to clean the toilets. It recently won a Queens Award in International Trade. Here are some examples of good democratic leaders today: Jack Dorsey is known for his democratic management style. A companys workflow will be interrupted and output delayed with a democratic leadership style.. He was unhappy with the customer service of British Airways. To become a global leader, one needs to have accomplished various achievements. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). Their presence would tell me that he is a good leader that I would work under. . According to Richard Branson, leadership plays various roles within his organization. Adaptability skill helped him to grow his business and fame faster. Advantages. 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. Required fields are marked *. People like Richard Branson and Herb Kelleher, are more concerned about creating a winning team. You can read Branson's blog or follow him on Twitter for more live updates from his extraordinary life @richardbranson. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). He is the founder of Virgin Group which has control over 400 companies. One of his most important leadership traits is vision. Facebook to Acquire the Waze App for $1BN? 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. " Walk the floor, get to know your people ," Branson urged. This post may contain affiliate links or links from our sponsors. 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. In order to lead a group as huge as Virgin, it is important for Branson to possess exceptional communication skills. Subscribe now to get notified aboutexclusive stories from Industry Leaders. 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. % Such an approach to organizational leadership best explains the approaches deployed by Richard Branson to succeed in the global domain. /Length 2153 You can use them for inspiration, an insight into a particular topic, a handy source of reference, or even just as a template of a certain type of paper. "The Leadership of Richard Branson." Richard Branson believes in the delegation of authority. The leadership of Richard Branson has dramatically influenced the success of his Virgin Empire (Kinicki & Fugate, 2016, p.151). Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. What everyone tells you never to do may just work, once. The commitment is about doing things differently. While he rolls with the punches better than most visionary leaders, he does have high expectations. Richard Branson is directly involved in the process of hiring new employees in his organization. This happens since democratic leadership relies on consensus. We will write a custom Report on Leadership Style of Richard Branson specifically for you for only $11.00 $9.35/page. However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. His open communication policy will ensure that employees express themselves and present their grievances that could be major sources of job dissatisfaction and poor performance. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. Richard Branson is one of the most iconic figures in the world today. They are good at listening to others ideas and opinions. The database is updated daily, so anyone can easily find a relevant essay example. "Leadership Style of Richard Branson." Recently, he has launched his new idea commercial space traveling. Recently, he has launched his new idea commercial space traveling. Communication is central to the success of the Virginia Group. What did you learn from them early on that helped you develop your branding strategy? Offers a Leader a Diverse Set of Opinions. endobj 2. Web. Need a custom Report sample written from scratch by You may opt-out by. He offers employees incentives such as training, high remuneration, a strong organizational culture, and vacations (Dearlove, 2007). I learn so much from guests and employees that way. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. Branson has been adopting a law-breaking approach in his leadership approach . 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. /Ascent 905 Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. Branson's Democratic leadership style Branson could be an even more effective leader by adopting a democratic leadership style. Branson is an international entrepreneur, adventurer, icon, and the founder of the Virgin Group. 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. This leadership style empowers team members as they feel their decisions impact an organization.. He considers all his employees equal and allows them to give their feedback and suggestions on his management style. And that ability to engage with people and take them with him on the most. Branson:1. 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. /FontBBox [-628 -376 2000 1056] We utilize security vendors that protect and His ability to motivate and inspire employees has contributed significantly towards creating teams that are the foundation of the groups growth. 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. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). Many, many visions, actually. /Type /Font Ethics, character, and authentic transformational leadership behavior. Its Picking Up Steam. Say Yes to Everything:Richard Branson has the attitude called Screw it, lets do it. Instead, he coaches his executives, managers, and employees to become better, more effective people. 3. But with extreme wealth comes extreme responsibility. He always welcome the feedback and new ideas of the employees. Then in 1972, he opened a chain of record stores that later became popular as 'Virgin Megastores'. (2020, December 29). My first business venture was Student magazine. Bransons approach to employee motivation could work in a different organizational setting because all employees search for opportunities to advance their careers that are available through training programs and delegation of duties and responsibilities. When group members have delegated powers, it can inadvertently result in many centers of power. ensure the integrity of our platform while keeping your private information safe. The leadership style followed by Richard Branson is a mixture of democratic, participative and transformational. A number of factors have helped define the leadership style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years. Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. Kedharnath, U. He is an English businessman and a venture capitalist. He believes, people should be given freedom, and he acts accordingly. Leadership Style of Richard Branson. 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. 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 leadership style builds up goodwill and the long-term contribution of team members. If I ever said anything ill about somebody as a kid, she would send me to stand in front of the mirror for 10 minutes because she said it reflected so badly on me, and this has always stayed with me. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. What Might That Mean For The Economy? Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. He has confidence in his own work. 2. 5 0 obj For instance, Hogan and Hogan (2008) argue that, when monetary rewards cease from being sources of motivation, organization consider delegation of responsibilities as a means of keeping employees motivated (p.43). Participation leadership is used . While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. "The Leadership of Richard Branson." /ItalicAngle 0 This is evident from his decision to venture into businesses that operate in different economic sectors. Lets go further and try one of the most comprehensive coaching experience with us. To me, business isnt about wearing suits or pleasing stockholders. This is only possible with democratic leadership, as it is the only leadership style that allows team members to speak and act freely. A person who has multiple degrees in your field isnt always better than someone with broad experience and a wonderful personality. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. In a way, Richard Branson is a laissez-faire leader because he believes in letting people learn from their mistakes. Your email address will not be published. Communication is a vital ingredient for leaders. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. 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. This paper was written and submitted to our database by a student to assist your with your own studies. Richard Branson, CEO of the Virgin Group, perfectly embodies this democratic leadership style. By coping up with the new environment . /FontDescriptor 5 0 R Richard Branson is on the successful business person which follows democratic leadership approach. /AvgWidth 479 At the same time, Ive also learned about balance, the art of delegation and when to intervene and when to get out of the way!, This is a BETA experience. This perspective fuels his leadership style by making him an open-minded, social person willing to take risks. Can We Save Social Media? 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.. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. /BaseFont /ArialMT No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. Experiences of bad management at work can also influence the way people approach leadership when they decide to launch their own business. And Debit Card, 12 important Considerations for Buying a Home in.... 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