Branson's leadership style also believes in marketing anywhere and everywhere. 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. Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. One of the most notable aspects of his leadership is his passion for environmental conservation. Employees are more engaged and perform at their best when they are heard and valued at work. Great leaders often identify with a given leadership style when leading group members. Richard Branson has the attitude called Screw it, lets do it. Our strategy has been to screw business as usual. Listening is one of the most important skills that anyone can have. From the student life, he has been commencing new companies. 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. A leader can select a set of ideas or blend ideas together. He always came ahead to take the opportunity to start a new business, apply new technology in them and perform training, education and development programs on his employees. Here are some examples of good democratic leaders today: Jack Dorsey is known for his democratic management style. 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). He searches for the best person for a specific type of joband recruits him/her. Ethics, character, and authentic transformational leadership behavior. 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. In addition, his passion for environmental conservation makes him a global leader. "Leadership Style of Richard Branson." Nevertheless, his charisma and situational leadership approaches make him a respected Briton. Apart from incorporating different international standards and cultures into his business operations, he contributes towards the growth of the global economy. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. For example, he recruits anindividual person for individual jobs. We want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. Its not surprising, then, that he never learned to fit into a specific style of leadership. As outlined above, democratic leadership comes with its pros and cons. 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). /StemV 78 Why is the UN Studying Solar Radiation Modification? 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. The business now has a team of 11 people. >> The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. 6fLHg(bMO\TX ,?$N|. This post discusses the leadership skills and qualities of Richard Branson that helped him achieve success. This is a deliberate and very wise marketing strategy. 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. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. The Top 10 Ways To Strategically Scale (Not Just Grow) Your Business, Why And How Your Law Firm Should Start A Newsletter, A New Superfood From Hawaii And The Future Of Food Security, How Your Stories Of Failure Create Better Business Success, 5 Common Startup Content Marketing Mistakes, Five Years In The Making, SVX Colombia Aims To Build Up The Impact Ecosystem In That Country. He is an avid reader and loves swimming as a hobby. Democratic Leadership can Create Negative Emotions: As democratic leadership relies on the input of team members, It can result in a tendency to always listen to specific team members either because of their experience, skills, or educational level. Decision-making can take longer, but the solutions will be more robust and suited to the problem. Autocratic leadership could make decisions more quickly; however, these solutions may fail due to a lack of additional feedback from team members and honest examination by other parties. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. He is a highly confident person. He believes that no leader can be successful unless he is followed by efficient followers. >> Branson is an international entrepreneur, adventurer, icon, and the founder of the Virgin Group. Facebook to Acquire the Waze App for $1BN? And that ability to engage with people and take them with him on the most challenging of business journeys he says is down to his mother, Eve Branson. The Virginia Group is well aware that, in case it encounters situations that make people run away, and yet they are well remunerated, there must be an ample reason why this happens. High Confidence Level:He is a highly confident person. While you almost certainly cannot duplicate Richard Bransons leadership style, you can learn from his approach to management. IvyPanda. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. Every leader has a unique, personal style. Bransons leadership traits mesh well with the running of his multifaceted organization. Kedharnath, U. He has a collaborative management approach that empowers his employees to reach the goals of the organization. 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, founder of Virgin Group; Jeff Bezos, founder of Amazon; Use the 6 Levels of Delegation to Become a Better Leader . "Leadership Style of Richard Branson." If you take care of your employees, they will take care of the clients. (Desk Director). He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. This became possible because he continued to transform his businesses as per the changing needs and demands. For instance, a good role model is one with hopeful wishes and confident. /ItalicAngle 0 Let's explore seven key lessons for entrepreneurs and leadership. 8 0 obj He offers employees incentives such as training, high remuneration, a strong organizational culture, and vacations (Dearlove, 2007). Therefore, innovation and creativity are part of his leadership. There are no rules. " Walk the floor, get to know your people ," Branson urged. Can We Save Social Media? Leaders should communicate with people from different cultures. His leadership identifies gaps in various markets and tries to fill them in ways that solve problems that other companies ignore or are unable to solve satisfactorily (Sosik & Jung, 2012). Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. /Flags 32 /FontDescriptor 7 0 R (2020, December 29). 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. I like to take chances on people, and whenever possible, promote from within it sends a great message to everyone in the company when someone demonstrates a passion for the job and leadership skills at every step along the way and is rewarded with a leadership role. His visionary leadership led to formation of an intermediary company that links all companies. /Widths [ 278 0 0 0 0 0 667 0 333 333 0 0 278 333 The scope of the organization is global and that makes him a global leader. Leadership Style of Richard Branson. 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. While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. 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. 6. Dan Schawbel: How would you describe your leadership style? 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. Mills, J., Bratton, J., & Forshaw, C. (2006). This is a BETA experience. He is well known for his leadership style that helped him become a self-made billionaire. At Bransons Virginia, to create an accord between groups, leaders should portray a sense of allegiance to their workers by developing rapport and being concerned in their developmental necessities together with professional progress. What did you learn from them early on that helped you develop your branding strategy? 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. 0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 IvyPanda. 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. You learn by doing, and by falling over., I never get the accountants in before I start up a business. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. To me, business isnt about wearing suits or pleasing stockholders. What leadership qualities helped him to become this much successful? >> More important, leaders should acquire professional writing skills, be able to correctly spell, and use grammar appropriately. 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. 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. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. Richard Branson is directly involved in the process of hiring new employees in his organization. Transformational leadership is a leadership theory where a leader works with followers to identify the changes needed, create a vision through inspiration, and execute the change with a group of highly committed followers. Subscribe now to get notified aboutexclusive stories from Industry Leaders. StudyCorgi. People like Richard Branson and Herb Kelleher, are more concerned about creating a winning team. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. /AvgWidth 479 Virginia Group has been described as a fast-growing entrepreneurial company. 2023 Industry Leaders Magazine. Richard Branson believes in thinking different. Democratic Leadership Results in Higher Levels of Commitment. Democratic leadership breeds a positive culture where ideas flow freely; thus, team members tend to feel more involved., 8. 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. 3. Thats never been the Virgin approach. According to Richard Branson, leadership plays various roles within his organization. International Journal of Selection and Development, 9(2), 40-51. 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. /FirstChar 32 Is New Business Creation Still Setting Records? The Virgin Way: Everything I Know About Leadership. Richard Branson: Rule-breaker because I never learned the rules in the first place. One of his most important leadership traits is vision. He is an English businessman and a venture capitalist. Richard Branson can easily learn about different types of personality and their expertise. endobj This is done with the understanding that the best ideas deliver the best outcome for an organization. To look at what it is our customer wants, and what it is the industry needs, and to go in and exceed their expectations. 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. In such a case, no one wants to take responsibility for missteps and mistakes. The most obvious one was the role of his parents in his upbringing, which contributed to his work ethic. He told about his own leadership approach in that interview. As he says we were not destined to be empty raincoats, nameless numbers on a payroll, role occupants, the raw material of economics or sociology, statistics in some government report.. Your email address will not be published. Richard Branson (Photo credit: BBC) The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. 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. Is It Time To Change Director Board Compensation In Private Real Estate Firms? One of the most risk taker investors is Richard Branson without any doubt. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. Leaders must be ready and open to ideas brought forward by employees. Improves motivation and morale; Performance improves due to greater ownership for all team members student. The success of his companies is attributed to his exceptional leadership that values employees, customers, and other stakeholders. He doesnt expect everything to fall into place the first time, though. 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.. Branson is a risk taker and a lover of challenges. 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). 5. 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. 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. While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. The democratic leadership style is often compared with the participative leadership style. 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. Leadership Theory, Application, Skill Development. << A monthly letter issued to employees details his vision, plans, the groups challenges, potential solutions, and new plans. How people coordinate their body movements while speaking and their facial expression also tell a lot. Democratic leadership style was first expounded by Kurt Lewin together with R.K white and R. Lippit when they identified three distinct leadership styles after a series of experiments. New York: John Wiley & Sons. Its far more effective to praise people than to constantly criticize them; it brings out the best in them and creates a more open environment for creativity and innovation.. His charisma is vital in uniting employees to work towards the achievements of the visions and missions that different companies pursue. 2. London: University of Toronto. His approach to business is also unique in the sense that he does not fear engaging in any business. The Ability to Think Differently:Richard Branson believes in thinking different. When Financhill publishes its #1 stock, listen up. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? While he rolls with the punches better than most visionary leaders, he does have high expectations. If you use an assignment from StudyCorgi website, it should be referenced accordingly. 9 0 obj 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. Yes, he always says Yes to almost everything. What works once may never work again. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. Thats how Virgin is run. A less obvious one was the time his boss asked him to clean the toilets. He believes, people should be given freedom, and he acts accordingly. Your email address will not be published. Running a business involves long hours and hard decisions; if you dont have the passion to keep you going, your business will more than likely fail. Dearlove, D. (2007). He thinks, the business that fulfills the needs of the people can create value vastly, it improves their lives. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. Community college journal of research and practice(1066-8926), 36 (2), p. 67. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. 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). Virgin Group is committed aligns its businesses in a manner that promotes environmental conservation. /Length 2153 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. Along the way, we saw gaps in the market where Virgin could play a role and can be an incredible force for good, and thats become our motto. Honesty is Prioritized in Democratic Leadership. He says: It was such a positive influence and I learned so much from him. Democratic leadership ensures all employees on the team are heard because they can freely express their opinions, and provide inputs for important decisions that affect them. Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. /Type /FontDescriptor The author has no position in any of the stocks mentioned. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. 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. 556 556 556 556 333 500 278 556 500 722 500 500 500 0 0 0 Richard Branson Leadership Quotes "To me, business isn't about wearing suits or pleasing stockholders. He does, after all, own Virgin Galactic, a company that tries to make flights faster by leaving the atmosphere. IvyPanda. HiTec Holdings. "The Leadership of Richard Branson." 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. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. For example, he doesnt have engineering experience to build airplanes. Helps Team Members Improve Their Knowledge. Strong leadership skills are vital for founders of growing businesses. 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. He was born in the year of 1950. IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. Employees are expected to be active participants and governance relies on team building, communication, consensus, autonomy, commitment and balance. https://studycorgi.com/the-leadership-of-richard-branson/. 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. This form of shared leadership relies on distributing responsibility among team members. 2. 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. If you love what you do and if you believe in what you do, others will share your enthusiasm. Such an approach to organizational leadership best explains the approaches deployed by Richard Branson to succeed in the global domain. 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. This article will answer the question: What is democratic leadership? Richard Brandson applies a participative leadership style. Profiles of leadership. Richard Branson is on the successful business person which follows democratic leadership approach. /CapHeight 716 5 0 obj Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. And I learned so much from him form of shared leadership relies on team building, communication, consensus it. 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Important, leaders should Acquire professional writing skills, be able to correctly spell, he... 758B at University of Maryland today ; the ability to Think Differently: Richard Branson is the... Was the role of his leadership it improves their lives is the wealthiest!, leaders such as Richard Branson is likely to use to get notified aboutexclusive stories from Industry leaders clean toilets! By falling over., I never get the accountants in before I start up a business his organization team.... Set of ideas or blend ideas together that empowers his employees to reach the goals of the Virgin way everything!, and other stakeholders identify weaknesses and disadvantages., 7 ways that employees are empowered ( HiTec,... Build airplanes international entrepreneur, adventurer, icon, and ensures that the leader retains authority entrepreneurs! Explore seven key lessons for entrepreneurs and leadership skills go hand in hand on team building, communication,,! 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