The business now has a team of 11 people. Principle #1: Treat People As People. He does, after all, own Virgin Galactic, a company that tries to make flights faster by leaving the atmosphere. Web. 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. IvyPanda. >> /BaseFont /ArialMT For example: Phase one: Set the rules of engagements and obtain feedback from all members if they are comfortable, Phase two: Brainstorming session where each member is allowed to explain their viewpoint without any interruption, Phase three: Members narrow down the best ideas, Phase four: Deciding on the best idea. 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. endobj While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. It normally involves sending and receiving of messages. 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. Minnesota, US: Southwestern. 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. Organizational Behavior and Human Decision Processes, 7(5), 1-24. This way a continuous process of improvement in leadership style is attained by Richard Brandson. A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). 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. Thats how Virgin is run. Required fields are marked *. 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. In addition, more skills increase the availability and accessibility of opportunities in the labor market. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. /FontName /ArialMT Sir Richard Branson has turned himself into a walking, talking Virgin logo. His risk taking and visionary nature will ensure that his companies explore sectors that other companies are afraid of exploring. Work projects cannot be done within specific timelines due to multiple team members needing to work together. He has introduced more than 400 companies. He was born in the year of 1950. /Encoding /WinAnsiEncoding Richard Branson's Leadership Styles He has an informal leadership style, whereby the people he leads are to concentrate on the objective rather than how they look hence providing a lot of room for his employees to be innovative. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. "The Leadership of Richard Branson." /Widths [ 278 0 0 0 0 0 667 0 333 333 0 0 278 333 His business acuity and excellent leadership are the main factors that contribute to his success. Ethics, character, and authentic transformational leadership behavior. Say Yes to Everything:Richard Branson has the attitude called Screw it, lets do it. Every leader has a unique, personal style. Oops! % This growth has been achieved through the deployment of unique strategies of leadership, which mesh the attributes of multifaceted organizations such as the Virginia group. There are many ways to run a successful company. he mentioned himself as a collaborative and democratic person. The scope of the organization is global and that makes him a global leader. Pros and Cons of the Democratic Leadership Style, How to Start Implementing Democratic Leadership at Work, transactional leadership and transformational leadership. Schawbel:From the beginning, how often would you research what your competitors were doing? /Encoding /WinAnsiEncoding Richard Branson: Rule-breaker because I never learned the rules in the first place. 8 0 obj Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. He therefore does not take for granted any idea from employees, business partners, strangers, or even friends. endobj Tips for Running a Successful Fulfilled by Amazon Business. Slow Decision-Making process: Slow decision-making is intrinsic to democratic leadership. Apart from incorporating different international standards and cultures into his business operations, he contributes towards the growth of the global economy. Richard Branson strongly believes in the process of mentorship. His charisma is vital in uniting employees to work towards the achievements of the visions and missions that different companies pursue. Autocratic leadership. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. He thinks each person should be given responsibility according to his/her own interest and expertise. He doesnt expect everything to fall into place the first time, though. Leadership comes in different flavors applied to meet goals. You need to have current information about the industry and the organization as well. 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. /LastChar 121 "The Leadership of Richard Branson." In this effort, Branson went ahead to develop a working environment that would enable people to have fun through teamwork culture hence boosting the morale of work. IvyPanda. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders. Many, many visions, actually. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. Becoming a global leader also requires one to have highlighted good leadership approaches, which can be used as benchmarks by other organizations. 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. Bass, B., & Steidlmeier, P. (2009). Lussier, R., & Achua, C. (2004). One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. 722 778 667 778 722 667 611 722 667 944 0 667 611 0 0 0 Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. %PDF-1.4 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. << He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. endobj Its Picking Up Steam. IvyPanda. Disclaimer: Services provided by StudyCorgi are to be used for research purposes only. He likes to follow the SWOT strategy. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. I also think its vital to quickly understand peoples strengths and weaknesses and determine how they fit and complement your own, adds Fuller. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. /StemV 78 While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. The Leadership of Richard Branson. Richard Branson has the attitude called Screw it, lets do it. As the team leader, you can now step in either for endorsement, seek further clarification, or ask for more brainstorming., At the end of the process, take time and review all the steps. Facebook to Acquire the Waze App for $1BN? This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). 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. StudyCorgi, 29 Dec. 2020, studycorgi.com/the-leadership-of-richard-branson/. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. This means that a leader should have the ability to develop teamwork to enhance employees motivation. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). As part of the democratic leadership style, Richard Branson prefers to maintain healthy leader-member relationships. 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. In fact, he is a transformational leader. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. 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. In addition, his passion for environmental conservation makes him a global leader. 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. I believe leading from the front is a great way to help encourage good team spirit.. /AvgWidth 441 Democratic leadership breeds a positive culture where ideas flow freely; thus, team members tend to feel more involved., 8. He dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. Every time as he appears on TV, in the newspaper or a magazine, he promotes the Virgin brand. No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. 2020. Her key takeaway from those experiences was not to be afraid of someone elses success and to find the joy in seeing others doing brilliantly. 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. At Highrise, we understand that selecting a suitable leadership style is crucial to realizing positive outcomes. He believes that quality content should be actionable and helpful. What is the best course of action when consensus is not realized. Is Richard Branson advised makes him a global leader Decision-Making is intrinsic to leadership. Business operations, he contributes towards the organizational cultures and therefore allows his employees to work together of that! Course of action when consensus is not realized has been selected and the selected leader is Richard has! 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