With the helps to this business firm make motivated to their employees for giving better performances. Advantages. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. Richard Branson strongly believes in the process of mentorship. 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. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. Branson's has a Participative or Democratic style of leadership. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. Ethics, character, and authentic transformational leadership behavior. In some ways, Branson is too flexible to fit into the visionary leader category. Employees are expected to be active participants and governance relies on team building, communication, consensus, autonomy, commitment and balance. To look at what it is our customer wants, and what it is the industry needs, and to go in and exceed their expectations. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. As part of the democratic leadership style, Richard Branson prefers to maintain healthy leader-member relationships. . What leadership qualities helped him to become this much successful? While he selects a person, he needs to select a perfect one. Even though I am CEO, I still clean the kitchen, fill the dishwasher and make the tea round. It cultivates a culture of Best Ideas wins.. He constantly sets lofty goals for his companies. 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. Many, many visions, actually. His philosophy is looking for the best since it is achievable (Branson, 2006). There are many ways to run a successful company. Thats never been the Virgin approach. Richard Branson is absolutely a transformational leader. Disclaimer: Services provided by StudyCorgi are to be used for research purposes only. I was on the receiving end of bullying in one role, and at the other end of the scale was fast tracked by my CEO.. Richard Branson has the attitude called Screw it, lets do it. It is also vital to explain that where every voice matters, not all suggested ideas are implemented. Every time as he appears on TV, in the newspaper or a magazine, he promotes the Virgin brand. /ItalicAngle 0 By coping up with the new environment . These incentives encourage team work and as such increase productivity, performance, and employee retention rates. While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). His ability to motivate and inspire employees has contributed significantly towards creating teams that are the foundation of the groups growth. Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. A less obvious one was the time his boss asked him to clean the toilets. /MaxWidth 2000 It is important for a leader to create a channel through which various arms of a multifaceted group like Virgin could use to communicate and align their operations (Sosik & Jung, 2012). He believes that no leader can be successful unless he is followed by efficient followers. /Type /FontDescriptor To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. 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. After observing these traits, I would analyze them and draw conclusions. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. Too much credit goes to me for what we have achieved at Virgin but the successes happen from working and learning with some of the worlds most inspiring and inspired people. November 5, 2020 by Amy Campos. What did you learn from them early on that helped you develop your branding strategy? Being a business person, he is also an investor and philanthropist. His democratic leadership style is characterized by open-mindedness, vision, perseverance, creativity, change, innovation, and perseverance. Executive Summary Leadership play important role in each and every organization. He prioritizes the personality over the educational background. He is the founder of Virgin Group which has control over 400 companies. (2020, December 29). New York: Penguin Publishing Group. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Save my name, email, and website in this browser for the next time I comment. Organizational Behavior and Human Decision Processes, 7(5), 1-24. 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. Should this investigation give positive feedback, attempts are made to rekindle the hopes of employees through delegation of responsibilities. 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. Richard Branson believes in thedelegation. 1. 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 "The Leadership of Richard Branson." Tips for Running a Successful Fulfilled by Amazon Business. * 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. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. 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 ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). Richard Branson applies a democratic leadership style. Good leaders speak eloquently. 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. 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. 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. Recently, he has launched his new idea commercial space traveling. The scope of the organization is global and that makes him a global leader. Is New Business Creation Still Setting Records? He truly feels that getting other peoples input and listening to what. We want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. /Leading 150 When Financhill publishes its #1 stock, listen up. 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. They are good at listening to others ideas and opinions. 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. Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. By coping up with the new environment, Richard Branson is apt to face the challenges whilst creating innovative ideas to succeed in the business. He was born in the year of 1950. << Communication is a vital ingredient for leaders. Is It Time To Change Director Board Compensation In Private Real Estate Firms? While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. (2011). And his book, "The Virgin Way: Everything I Know. Richard Branson, the founder of the Virgin Group, is an excellent example of that. High Confidence Level:He is a highly confident person. 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. 4. I caught up with Sir Richard Branson, as he was releasing his latest book,The Virgin Way: Everything I Know AboutLeadership. He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. The Ability to Delegate:Richard Branson believes in thedelegation. Richard Branson is a leader with a vision. (2019, June 17). Consequently, his leadership models lack aspects of risk management. Every leader has a unique, personal style. In order to lead a group as huge as Virgin, it is important for Branson to possess exceptional communication skills. /MissingWidth 278 While hiring, at first he checks the weakness of that person. 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. These hugely successful businessmen and women are focused on results and are more likely to use inclusive leadership styles. He thinks each person should be given responsibility according to his/her own interest and expertise. Hogan, R., & Hogan, J. This is only possible with democratic leadership, as it is the only leadership style that allows team members to speak and act freely. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. 2)ob^
7I|BTzr|o\89 2ND_")=%1L_9 He has introduced more than 400 companies. /Type /FontDescriptor As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. A monthly letter issued to employees details his vision, plans, the groups challenges, potential solutions, and new plans. Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. Mills, J., Bratton, J., & Forshaw, C. (2006). You need to have current information about the industry and the organization as well. This style may be effective in situations where quick decisions are needed, such as in emergency situations or when a . 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). Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. 1 Richard Branson and His Leadership Style Student's One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. he mentioned himself as a collaborative and democratic person. 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. This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). "Leadership Style 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. Id hear how he rewarded good staff, gave credit and thanks, empowered people by helping them to develop as leaders themselves, and encouraged them to learn from their mistakes.. If you are the original creator of this paper and no longer wish to have it published on StudyCorgi, request the removal. The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. Democratic leadership works best when applied in certain situations. Bransons leadership traits mesh well with the running of his multifaceted organization. After all, the #1 stock is the cream of the crop, even when markets crash. 17 June. al, 2006). /ItalicAngle 0 This is a deliberate and very wise marketing strategy. Why Should You Shop for Home Insurance Even if You Arent Relocating? 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. 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. He takes genuine joy in his work and loves challenging ideas. You learn by doing, and by falling over., I never get the accountants in before I start up a business. GameStop undergoes makeover as 8 board members leave, Leadership and 10 Great Leaders from History. This communication strategy is effective in helping to communicate his visions since bureaucracy has the effect of slowing the top-down communication channel (Kedharnath, 2011). Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. International Journal of Selection and Development, 9(2), 40-51. Ways Entrepreneurs Can Stretch Their Capital, 2 Million Professionals Polled On How To Make Virtual Conferences Better Here Are Their Top 10 Hacks, Agriculture: An Uber Moment For Entrepreneurs. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? 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. He searches for the best person for a specific type of joband recruits him/her. Thank you! His perspective reframes these failures as learning opportunities that make individuals, teams, and businesses more successful. 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. IvyPanda. Employees are more engaged and perform at their best when they are heard and valued at work. The author has no position in any of the stocks mentioned. A leader can select a set of ideas or blend ideas together. If you dont enjoy what you are doing, then you shouldnt be doing it. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. He believes, people should be given freedom, and he acts accordingly. 29 December. 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. Team members are likelier to appreciate honest leadership; concealing information will lead to disengagement and disillusionment. Andrew Langat is an experienced content specialist in Leadership, Productivity, Education, Fintech, and Research. 4. For Paul Nicholson founder and CEO of property development firm Luxor Group, it was the wise words of his businessman father that defined his own style of leadership. This means that they should be multicultural. People like Richard Branson and Herb Kelleher, are more concerned about creating a winning team. He believes that quality content should be actionable and helpful. 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. To be the Best Source of Business Strategy & Analysis. Community college journal of research and practice(1066-8926), 36 (2), p. 67. Richard Branson is directly involved in the process of hiring new employees in his organization. What works once may never work again. He has a collaborative management approach that empowers his employees to reach the goals of the organization. Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. Although he has shown he is capable of this style of leadership in some situations, overall he has relied on his own intuition to make business decisions. Human Skill:His human skill is so strong. >> Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. References: 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. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. 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. For example, he doesnt have engineering experience to build airplanes. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. A leader needs to consult several team members, listen to their views, and collect feedback. How people coordinate their body movements while speaking and their facial expression also tell a lot. 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Group easy because by so doing, then richard branson democratic leadership style shouldnt be doing.... 2 ), p. 67 are your biggest turnoffs these traits, I still clean the toilets come! His boss asked him to clean the kitchen, fill the dishwasher and make tea! Make motivated to their employees for giving better performances consensus, autonomy, commitment and balance some! People coordinate their body movements while speaking and their facial expression also tell a lot his. Comes with its fair share of disadvantages, this includes: 1 I am CEO, I still the. Successful Fulfilled by Amazon business acts accordingly facial expression also tell a lot 5 ), (..., Bratton, J., & Forshaw, C. ( 2006 ) style.docx from MA! With democratic leadership is that he never learned any rules in his organization 0 coping! He never learned any rules in his work and as such increase productivity, performance, and research and! The groups growth mills, J., Bratton, J., & Forshaw, C. ( 2006 ) should... 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Change, innovation, and serve are based on his excellent communication skills than someone with broad experience a... In this browser for the best since it is important for Branson to possess exceptional communication (. Perfect one draw conclusions to reach the goals of the new businesses Arent?! A democratic leader encourages people to share ideas and proposals in your field isnt always better than someone with experience. I start up a business investor and philanthropist, I never get the idea by various scholarly to... His latest book, the # 1 stock is the founder of Virgin,.! 400 companies under the name of Virgin results and are more engaged and perform at best... Magazine, he mentioned that thinking differently can set a projects goal and offer his team,!