endobj By coping up with the new environment, Richard Branson is apt to face the challenges whilst creating innovative ideas to succeed in the business. In fact, he is a transformational leader. He doesnt expect everything to fall into place the first time, though. 611 611 611 0 389 556 333 611 556 778 0 556]>> Some of the characteristics that define Richard Bransons leadership style include: Richard Branson doesnt believe in dedicating his time to boring tasks. 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. To look at what it is our customer wants, and what it is the industry needs, and to go in and exceed their expectations. Save my name, email, and website in this browser for the next time I comment. Richard Brandson is also people-oriented and considers that teamwork is important for the accomplishment of goals and sustenance of business in the long run. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. 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. A companys workflow will be interrupted and output delayed with a democratic leadership style.. Based on these criteria and considering how Richard Brinson has managed to build his success in his business empires, it is possible that his leadership style is not a good fit for a manager because the work of management is different from the work of leadership. This means then they should have the will to use the power they possess together with the employee to execute innovative ideas brought forwards by the employees According to Branson, another quality of a leader is being a role model. Branson:1. Mentors are the great teachers. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. He thinks, the business that fulfills the needs of the people can create value vastly, it improves their lives. Instead, he coaches his executives, managers, and employees to become better, more effective people. His democratic leadership style is characterized by open-mindedness, vision, perseverance, creativity, change, innovation, and perseverance. He is successful in building 400 companies under the brand name of Virgin. 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. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. 1 Richard Branson and His Leadership Style Student's 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. endobj 3. Nevertheless, his charisma and situational leadership approaches make him a respected Briton. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. Organizational Behavior in a Global Context. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. The opposite of the Democratic leadership style is Autocratic leadership, where leaders have the final say, and the leadership approach is abrasive, with group members merely playing a salient role. "Leadership Style of Richard Branson." Their presence would tell me that he is a good leader that I would work under. You dont learn to walk by following rules. Richard knows it too well that a good idea emanates from all people irrespective of their status in the organization. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. /Encoding /WinAnsiEncoding Here are the 11 most common leadership styles. The Ability to Think Differently:Richard Branson believes in thinking different. 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. Employees come first. 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 Ability to Delegate:Richard Branson believes in thedelegation. 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. Richard Branson believes in the delegation of authority. /Type /FontDescriptor /Type /Font 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. Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. 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. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. Need a custom Report sample written from scratch by Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. He has introduced more than 400 companies. 7 0 obj He believes that leadership is all about doing things that are right, as opposed to the approach of management of people that is deployed by many organizations that dwell on looking for mechanisms of doing things in the right ways. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. /Flags 32 Bass, B., & Steidlmeier, P. (2009). According to Richard Branson, leadership plays various roles within his organization. According to him, nothing can be achieved alone and no one cannot be a great leader without having great people to lead no matter what style you follow. While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. He has confidence in his own work. Yes, he always says Yes to almost everything. The author has no position in any of the stocks mentioned. Effective leaders encourage team participation and group discussions. One of the most risk taker investors is Richard Branson without any doubt. 'Branson values removing barriers in the corporate hierarchy . Richard Branson is an entrepreneur who is known for his unique approaches to leadership and the development of talented employees. /Widths [ 278 333 0 0 0 0 0 0 333 333 0 0 0 333 He believes, people should be given freedom, and he acts accordingly. Branson is an international entrepreneur, adventurer, icon, and the founder of the Virgin Group. 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 Richard Branson, founder of Virgin Group; Jeff Bezos, founder of Amazon; Use the 6 Levels of Delegation to Become a Better Leader . (2019) 'Leadership Style of Richard Branson'. 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. He truly feels that getting other peoples input and listening to what. Communication involves having an eye contact with listeners body movements (Hogan & Hogan, 2008). Richard Branson strongly believes in the process of mentorship. He takes genuine joy in his work and loves challenging ideas. 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. Communication is a vital ingredient for leaders. 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. Web. Branson has been able to overcome these challenges by embracing innovation and change. /FontName /Arial-BoldMT A less obvious one was the time his boss asked him to clean the toilets. In a way, Richard Branson is a laissez-faire leader because he believes in letting people learn from their mistakes. /CapHeight 716 And that ability to engage with people and take them with him on the most. His exceptional communication skills enable him to communicate the mission and vision of the group to employees of different companies. He was born in the year of 1950. 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. This article will answer the question: What is democratic leadership? First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. 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. Moreover, he is able to communicate the visions of different companies, find and connect with suitable individuals to run businesses, and make decisions that foster growth and development. , In Democratic leadership, members of a group are actively involved in the decision-making process that mirrors a democratic process. This is evident from his decision to venture into businesses that operate in different economic sectors. Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. He always welcome the feedback and new ideas of the employees. " Walk the floor, get to know your people ," Branson urged. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. His perspective reframes these failures as learning opportunities that make individuals, teams, and businesses more successful. endobj He is well known for his. This venture was followed by a mail-order record business that gave birth to Virgin Records. Autocratic leadership is a style in which leaders make decisions independently and without input from their followers. He does this through engaging his employees in direct conversations. (2008). If you keep using the site, you accept our. Richard Branson, the founder of the Virgin Group, is an excellent example of that. He embraces change, creativity, and innovation thus enabling his companies to grow and dominate in various sectors. Most people want to be listened to and appreciated at work, and focusing on these attributes as a leader will work better for everyone in the long run.. You are free to use it to write your own assignment, however you must reference it properly. In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. We will write a custom Report on Leadership Style of Richard Branson specifically for you for only $11.00 $9.35/page. 278 278 556 556 556 556 556 556 556 556 556 556 278 278 0 0 New York: Taylor & Francis. Every business, like a painting, operates according to its own rules. Jen Fuller founded baby brand Etta Loves back in 2016, whilst juggling a full time role as managing partner at a media agency with a new baby. This post may contain affiliate links or links from our sponsors. stream 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. A person who has multiple degrees in your field isnt always better than someone with broad experience and a wonderful personality. This is only possible with democratic leadership, as it is the only leadership style that allows team members to speak and act freely. Good leaders speak eloquently. This paper was written and submitted to our database by a student to assist your with your own studies. Pros and Cons of the Democratic Leadership Style, How to Start Implementing Democratic Leadership at Work, transactional leadership and transformational leadership. (2020, December 29). While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). He is an English businessman and a venture capitalist. /Type /Font Retrieved from https://studycorgi.com/the-leadership-of-richard-branson/, StudyCorgi. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. 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. A monthly letter issued to employees details his vision, plans, the groups challenges, potential solutions, and new plans. The commitment is about doing things differently. Principle #1: Treat People As People. Richard Branson, CEO of the Virgin Group, is another democratic leader who empowers his employees to reach his company's goals. Richard Branson can easily learn about different types of personality and their expertise. I make a point of employing people and teams who do what I cant do, or dont want to do, and bring positive energy and ultimately a sense of fun to the grueling hours, highs and lows.. This would help me to determine his leadership style and priorities. Consequently, his leadership models lack aspects of risk management. Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. The Leadership Quarterly, 10(2), 181- 237. ensure the integrity of our platform while keeping your private information safe. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. Leadership comes in different flavors applied to meet goals. Branson management style and leadership skills were learnt in his day-to-day duties and interaction with people. * 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. /LastChar 121 He believes that every day should bring joy. 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. 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). You learn by doing, and by falling over., I never get the accountants in before I start up a business. Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. This helps employees to align their goals with those of the group (Sosik & Jung, 2012). Even though I am CEO, I still clean the kitchen, fill the dishwasher and make the tea round. Should this investigation give positive feedback, attempts are made to rekindle the hopes of employees through delegation of responsibilities. /ItalicAngle 0 This group's decision-making process gives room for the adoption of better ideas. To me, business isnt about wearing suits or pleasing stockholders. 2)ob^ 7I|BTzr|o\89 2ND_")=%1L_9 Most leaders who exercise democratic leadership often complement it with participative leadership. They have facilitated this growth in various ways. He never applied any stringent rules in the workplace. 11 Most common leadership styles. Connect with him onLinkedIn. 278 0 0 0 0 0 0 0 0 0 0 0 333 0 0 0 Many, many visions, actually. For instance, a good role model is one with hopeful wishes and confident. Slow Decision-Making process: Slow decision-making is intrinsic to democratic leadership. Richard Branson strongly believes in the process of mentorship. He considers all his employees equal and allows them to give their feedback and suggestions on his management style. Yes, he always says Yes to almost everything. Facebook to Acquire the Waze App for $1BN? Finally, delegating duties will give him more time to do other things that will make him a better leader. Essentially, leadership plays four main functions within an organization. Team building is one of the pioneers of success in every organization and Richard Branson is keying into that successfully. Opinions expressed by Forbes Contributors are their own. Work-related challenges increase the skills of employees as well as their value to their organizations. My mum shaped my leadership style, he says. StudyCorgi. 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). Hogan, R., & Hogan, J. Virgin Group owns about 400 companies. Branson, R. (2014). The database is updated daily, so anyone can easily find a relevant essay example. 8 0 obj 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. 1. If I were to first characterize his leadership style I would say he is definitely a democratic leader. /StemV 78 The Virgin Group is one of the worlds most recognized and respected brands, with over 400 companies. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. Such an approach to organizational leadership best explains the approaches deployed by Richard Branson to succeed in the global domain. You may opt-out by. 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. In this extent, I agree that Richard Branson is indeed a global leader. Richard Branson also believes that giving ample attention to what his people think helps the Virginia group to move to the next business level. " Walk the floor, get to know your people ," Branson urged. He never received a degree in management and, yet, is globally known as one of the most influential leaders for his unique style and strategies. See areas of improvement for correction for a better outcome in subsequent meetings.. While hiring, at first he checks the weakness of that person. Financhill has a disclosure policy. 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.. Schawbel:What are your top three leadership principles? Gains in productivity. A number of factors have helped define the leadership style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years. He prioritizes the personality over the educational background. Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. Web. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. Advantages. Personality before CV. Leadership Skills of Richard Branson. (2019, June 17). He constantly sets lofty goals for his companies. Listening is one of the most important skills that anyone can have. << Web. Honesty is Prioritized in Democratic Leadership. 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. London: University of Toronto. Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. As outlined above, democratic leadership comes with its pros and cons. One of his most famous quotes truly sums up his philosophy of leadership: Clients do not come first. Assessing Leadership: A View from the Dark Side. He told about his own leadership approach in that interview. 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). His ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. 17 June. StudyCorgi. The leadership of Richard Branson has dramatically influenced the success of his Virgin Empire (Kinicki & Fugate, 2016, p.151). Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. His democratic style of leadership is characterized by traits such as charisma, perseverance, purpose, self-awareness, and open-mindedness (Dearlove, 2007). The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. And it was one of the reasons I left school when I was 15 years old. The leadership style followed by Richard Branson is a mixture of democratic, participative and transformational. 0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 "The Leadership of Richard Branson." June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. Thats how Virgin is run. 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.. 2. /XHeight 519 Democratic Leadership Results in Higher Levels of Commitment. New York: John Wiley & Sons. What works once may never work again. Participative Leadership: Perspectives of Community College Presidents. A leader needs to consult several team members, listen to their views, and collect feedback. He believes in thelong-term relationship with people. 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. He searches for the best person for a specific type of joband recruits him/her. x}X6WHF`~XK,{}|M g/v=ap$*+38"Mne]2DR2k'2w'ZQTCQm`S"S|a"dZEihY0hx$ (x;q TA0e0Nta\o9/&L["gq_]8Bi-,t}%%r2E**3~5\`VL$IA(bT&" Community college journal of research and practice(1066-8926), 36 (2), p. 67. Democratic leadership works best when applied in certain situations. SpaceXs Starship Launch to Be Held in March: Is It a Flight of Fancy? The success of his companies is attributed to his exceptional leadership that values employees, customers, and other stakeholders. This style may be effective in situations where quick decisions are needed, such as in emergency situations or when a . 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. You can read Branson's blog or follow him on Twitter for more live updates from his extraordinary life @richardbranson. And weve been successful not by wasting time scrutinising our competitors but by looking at ourselves from the point of view of our customers do and seeking feedback through listening. This way consistent efforts are made by Richard Brandson to improve his business processes with new-age technology and highly skilled employees so that they could compete with the rising competition in the market and help the sustenance of the business. 2. This has given leverage to employees to apply their best judgment. Branson:Researching the competition has never been the Virgin way. https://ivypanda.com/essays/leadership-style-of-richard-branson/, IvyPanda. Role models possess a number of qualities such as caring for others and setting ample examples to the followers. 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.. 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? Organizational Behavior and Human Decision Processes, 7(5), 1-24. /Subtype /TrueType /Type /FontDescriptor Human Skill:His human skill is so strong. 6 0 obj The majority rules, but the whole group feels included. It is also vital to explain that where every voice matters, not all suggested ideas are implemented. Lussier, R., & Achua, C. (2004). By showing his appreciation for hard work, he keeps everyone focused on their tasks. 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. Helps Team Members Improve Their Knowledge. By coping up with the new environment . /MaxWidth 2000 Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. This enables him to collect feedback and opinions from employees. %PDF-1.4 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. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. Schawbel:From the beginning, how often would you research what your competitors were doing? What is the best course of action when consensus is not realized. 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. /Encoding /WinAnsiEncoding Richard Branson is on the successful business person which follows democratic leadership approach. The democratic leadership style is often compared with the participative leadership style. You need to have current information about the industry and the organization as well. In order to lead a group as huge as Virgin, it is important for Branson to possess exceptional communication skills. On the other hand, their lack would lead to a conclusion that he is not a leader that I would like to work under. Your email address will not be published. endobj Richard Branson has a unique leadership style that makes him unlike any other entrepreneur. This fact lends itself well to companies or organizations with democratic leadership. Schawbel:What is your process for selecting leaders at Virgin? The success of the conglomerate is proof enough that Branson possesses the ability to unite employees around a common vision and mission. The business now has a team of 11 people. /Ascent 905 Believes in Mentorship:Mentors are the great teachers. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. My first business venture was Student magazine. (2006). Why Should You Shop for Home Insurance Even if You Arent Relocating? Its the greatest thrill in the world and it runs away screaming at the first sight of bullet points., For a successful entrepreneur it can mean extreme wealth. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. Say Yes to Everything:Richard Branson has the attitude called Screw it, lets do it. /Producer (PDF-XChange Printer 2012 \(5.5 build 311\) [Windows 8 Enterprise x64 \(Build 9200\)]) The Leadership of Richard Branson. Oops! These incentives encourage team work and as such increase productivity, performance, and employee retention rates.

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