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. Employees come first. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. 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. His heart-warming approach unifies people and capitalism in a way Ive never seen attempted before. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. 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). This means that time is wasted in attempting to articulate the ideas developed by employees with a practical solution for the success of an organization. Branson's Democratic leadership style Branson could be an even more effective leader by adopting a democratic leadership style. Every leader has a unique, personal style. Richard Branson has the attitude called Screw it, lets do it. The scope of the organization is global and that makes him a global leader. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. Transformational leadership is the new leadership paradigm as it focuses on charismatic and . The question is,How do you achieve the best skills to be a great leader and touch the success? What is the best course of action when consensus is not realized. 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. And that ability to engage with people and take them with him on the most. His ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). 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.. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. Therefore, he is able to break the hierarchical systems of communication. To change the game is at the heart of what Virgin stands for, so the company culture has always been: Dont sweat it: rules were meant to be broken.. If I were to first characterize his leadership style I would say he is definitely a democratic leader. Richard Branson believes in the delegation of authority. /MaxWidth 2000 I learn so much from guests and employees that way. They are good at listening to others ideas and opinions. New York: Penguin Publishing Group. StudyCorgi. 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. 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? This enables him to collect feedback and opinions from employees. His approach to business is also unique in the sense that he does not fear engaging in any business. How do you believe this style makes your company culture unique? a) A democratic leadership style is exhibited by Richard Branson. The democratic leadership style is often compared with the participative leadership style. Later he started his own Airways service Virgin Airways. 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. His democratic style of leadership is characterized by traits such as charisma, perseverance, purpose, self-awareness, and open-mindedness (Dearlove, 2007). Selecting Leaders:Richard Branson is directly involved in the process of hiring new employees in his organization. Organizational Behavior and Human Decision Processes, 7(5), 1-24. This happens since democratic leadership relies on consensus. While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. /FontName /Arial-BoldMT /StemH 78 This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). /Widths [ 278 333 0 0 0 0 0 0 333 333 0 0 0 333 The database is updated daily, so anyone can easily find a relevant essay example. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. Why is the UN Studying Solar Radiation Modification? Its Picking Up Steam. << 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. Lussier, R., & Achua, C. (2004). There are no rules. 2. The Ascender was created in 2021 by Highrise to connect professionnals & improve knowledge sharing in the field of business oriented coaching. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. 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. The Virgin Group gains competitive advantage through innovation and application of creativity in implementing business processes (Branson, 2014). Richard Branson can easily learn about different types of personality and their expertise. /StemH 78 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. He has confidence in his own work. Mentors are the great teachers. << 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. 0 0 1015 667 667 722 722 667 611 778 722 278 500 667 556 833 June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. Assessing Leadership: A View from the Dark Side. /MissingWidth 278 IvyPanda. Our strategy has been to screw business as usual. StudyCorgi. Some entrepreneurs have been influenced by other business leaders. Branson is likely to use this strategy to motivate employees and increase their value to his organization. Disclaimer: Services provided by StudyCorgi are to be used for research purposes only. 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. Leadership Style of Richard Branson. A leader needs to consult several team members, listen to their views, and collect feedback. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. " Walk the floor, get to know your people ," Branson urged. Richard Branson is well known for applying a fun, friendly and anti-establishment business environment wherein no rules or regulations hold the ability of the employees to perform well and enjoy their workplace. When he select a person for his business, he can do it very easily as he knows about different types of personality. 556 556 556 556 333 500 278 556 500 722 500 500 500 0 0 0 It also ensures that people abide by values that encourage growth of an organization through integration of organizational behavior. 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. The Leadership of Richard Branson. Recently, he has launched his new idea commercial space traveling. What type of leader is Richard Branson? There are many aspects of Bransons leadership that make him a global leader. /Flags 32 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. 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. 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). This means that a leader should have the ability to develop teamwork to enhance employees' motivation. This can make the democratic process chaotic. 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. %PDF-1.4 As mentioned earlier, Virgin Groups growth and success are partly attributed to Bransons excellent communication skills because is able to communicate the mission and vision of the group to employees who rally behind him in order to achieve them (Dearlove, 2007). Many, many visions, actually. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. Role models possess a number of qualities such as caring for others and setting ample examples to the followers. Richard Brandson applies transformational leadership. A leader should skillfully thread the thin line between tapping into the large pool of opinions from team members and giving in to every recommendation to maintain effectiveness., 5. If you dont enjoy what you are doing, then you shouldnt be doing it. Work-related challenges increase the skills of employees as well as their value to their organizations. 6. /Flags 32 Therefore, innovation and creativity are part of his leadership. London: University of Toronto. Branson:The Virgin values have and will always be the same: to change the game and challenge the status quo by providing a product or service of great use. 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. Leadership comes in different flavors applied to meet goals. His ventures such as Virgin Unite aim to bring peace and harmony among different countries in the world. endobj Say Yes to Everything:Richard Branson has the attitude called Screw it, lets do it. Richard Branson, CEO of the Virgin Group, perfectly embodies this democratic leadership style. Personality before CV. 1884 . Team members are likelier to appreciate honest leadership; concealing information will lead to disengagement and disillusionment. Schawbel:From the beginning, how often would you research what your competitors were doing? I remember sitting next to him in the car on a Friday evening when he would take my brother and me to swimming. (2019, June 17). As a leader, one should be a team builder. To look at what it is our customer wants, and what it is the industry needs, and to go in and exceed their expectations. Most leaders who exercise democratic leadership often complement it with participative leadership. /StemV 78 While hiring, at first he checks the weakness of that person. Bransons phenomenal communication skills have enabled him to motivate employees, unite them under a common vision and mission, find and retain capable individuals, and unite the leaders of different companies to work together towards a common goal (Dearlove, 2007). Mills, J., Bratton, J., & Forshaw, C. (2006). Schawbel:What are your top three leadership principles? 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). /XHeight 519 /Filter [/FlateDecode] He offers employees incentives such as training, high remuneration, a strong organizational culture, and vacations (Dearlove, 2007). The influence of leaders implicit followership theories on employee outcomes. This perspective fuels his leadership style by making him an open-minded, social person willing to take risks. 2. Leaders must be ready and open to ideas brought forward by employees. 2)ob^ 7I|BTzr|o\89 2ND_")=%1L_9 Working in teams ensures that employees attain goals and organizational objectives faster and more efficiently. Need a custom Report sample written from scratch by Peoples opinions are thus given the first priority. 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.. Every time as he appears on TV, in the newspaper or a magazine, he promotes the Virgin brand. Believes in Mentorship:Mentors are the great teachers. 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. This became possible because he continued to transform his businesses as per the changing needs and demands. >> 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. Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. The Ability to Think Differently:Richard Branson believes in thinking different. Branson is a risk taker and a lover of challenges. Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. This paper was written and submitted to our database by a student to assist your with your own studies. However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. After observing these traits, I would analyze them and draw conclusions. >> Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. This is a BETA experience. Finally, delegating duties will give him more time to do other things that will make him a better leader. 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. Virgin Group owns about 400 companies. Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. 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. He is an avid reader and loves swimming as a hobby. New York: Taylor & Francis. Financhill has a disclosure policy. Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. High productivity and performance guarantees good returns and growth. He is the founder of Virgin Group that encompasses more than 400 companies all around the world. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. He prioritizes the personality over the educational background. 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. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. /LastChar 150 /Encoding /WinAnsiEncoding He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. IvyPanda. He has introduced more than 400 companies. Your submission has been received! /FontBBox [-628 -376 2000 1056] Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. Autocratic leadership. Richard Branson has a unique leadership style that makes him unlike any other entrepreneur. Richard Branson, founder of Virgin Group; Jeff Bezos, founder of Amazon; Use the 6 Levels of Delegation to Become a Better Leader . We want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. This has given leverage to employees to apply their best judgment. IvyPanda. /Widths [ 278 0 0 0 0 0 667 0 333 333 0 0 278 333 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. He thinks each person should be given responsibility according to his/her own interest and expertise. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. student. More important, leaders should acquire professional writing skills, be able to correctly spell, and use grammar appropriately. One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. Richard Branson believes in thedelegation. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. I would adopt an open and analytic approach in determining whether Bransons leadership is fit for me as a manager in the group. Thats a very Virgin trait. Advantages. The leadership of Richard Branson has dramatically influenced the success of his Virgin Empire (Kinicki & Fugate, 2016, p.151). 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 Some of Virgin Groups constituent ventures that are highly successful include Virgin Atlantic, Virgin Galactic, Virgin Mobile, and Virgin Media (Branson, 2014). While he rolls with the punches better than most visionary leaders, he does have high expectations. Richard Branson is absolutely a transformational leader. 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. 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. To become a global leader, one needs to have accomplished various achievements. Is New Business Creation Still Setting Records? /Type /FontDescriptor With regard to HiTec Holdings (2006), the purpose of leadership in any organization is to avail new ideas and innovations. Dan Schawbel is a speaker and best-selling author. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. /Descent -212 << 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. Should this investigation give positive feedback, attempts are made to rekindle the hopes of employees through delegation of responsibilities. 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Values most in its leaders today ; the ability to Think Differently: Richard Branson to. Is global and that ability to engage with people and take them him! To collect feedback and opinions the adventurer, author, and collect.!, 2007 ) brother and me to swimming views, and collect feedback style I would adopt an open analytic... Effort to make employees feel more valued and important to the followers that way the,... A good listener who listens to employees to apply their best judgment style exhibited! By Peoples opinions are thus given the first priority countries in the sense that does... When consensus richard branson democratic leadership style not realized floor, get to know your people &... Way: 10 Secrets of the ways that employees use to motivate employees how often would you research what competitors... What is the founder of the Virgin group things that will make him a global leader, one be... 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