The Virgin Group gains competitive advantage through innovation and application of creativity in implementing business processes (Branson, 2014). As a leader, one should be a team builder. IvyPanda. He always welcome the feedback and new ideas of the employees. For instance, a good role model is one with hopeful wishes and confident. * 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. 'Branson values removing barriers in the corporate hierarchy . Transformational leaders are influential to their followers. This means that they should be multicultural. 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. Fantastic people throughout the Virgin Group run our businesses, allowing me to think creatively and strategically., You get the idea. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. This post discusses the leadership skills and qualities of Richard Branson that helped him achieve success. 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. I believe leading from the front is a great way to help encourage good team spirit.. He searches for the best person for a specific type of joband recruits him/her. endobj /Leading 150 It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. Opinions expressed by Forbes Contributors are their own. Autocratic leadership. 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. Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. 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 is IvyPanda's free database of academic paper samples. Team members are likelier to appreciate honest leadership; concealing information will lead to disengagement and disillusionment. He says, If you ask any successful business person, they will always say they have had a great mentor at some point of the road. Even though I am CEO, I still clean the kitchen, fill the dishwasher and make the tea round. He therefore does not take for granted any idea from employees, business partners, strangers, or even friends. 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. Let's explore seven key lessons for entrepreneurs and leadership. Learn: Learning and leadership go together. << 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. 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. 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. Essentially, leadership plays four main functions within an organization. He told about his own leadership approach in that interview. 4. % This became possible because he continued to transform his businesses as per the changing needs and demands. Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. 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. Strong leadership skills are vital for founders of growing businesses. Ethics, character, and authentic transformational leadership behavior. 0 0 0 556 556 500 556 556 278 556 556 222 222 500 222 833 Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. 4. His ability to motivate and inspire employees has contributed significantly towards creating teams that are the foundation of the groups growth. Web. /Type /Font 7 0 obj This can make the democratic process chaotic. They have the ability to listen to their employees. 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. /ItalicAngle 0 Richard Branson is absolutely a transformational leader. %PDF-1.4 Employees come first. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. Branson is famous for his success in the business field with his unique characteristics, which are an attribute to his success. He does, after all, own Virgin Galactic, a company that tries to make flights faster by leaving the atmosphere. For example, he recruits anindividual person for individual jobs. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. Career advancement is an important aspect in the professional lives of many employees. 6fLHg(bMO\TX ,?$N|. Grasmick, L. (2012). Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. 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. /Type /Font /Descent -212 If you arent proud of what youre doing, why should anybody else be?, I was dyslexic, I had no understanding of schoolwork whatsoever. Schawbel:From the beginning, how often would you research what your competitors were doing? November 5, 2020 by Amy Campos. Share your email with us and we'll share some examples. Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. Believes in Mentorship:Mentors are the great teachers. This way an attempt is made to create a relaxing and productive work environment wherein new ideas originate and applied to improve the overall business productivity. Recently, he has launched his new idea commercial space traveling. Democratic leadership works best when applied in certain situations. 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. 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. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. 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. Richard Brandson applies transformational leadership. In addition, more skills increase the availability and accessibility of opportunities in the labor market. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. The database is updated daily, so anyone can easily find a relevant essay example. 3. Richard Branson is a leader with a vision. 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. He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. /XHeight 519 Richard Branson Leadership Quotes "To me, business isn't about wearing suits or pleasing stockholders. Is It Time To Change Director Board Compensation In Private Real Estate Firms? We want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. Richard Branson can easily learn about different types of personality and their expertise. He offers employees incentives such as training, high remuneration, a strong organizational culture, and vacations (Dearlove, 2007). Boosts Jobs satisfaction and motivation. The Leadership of Richard Branson. Whether in a multinational or a small business, the leadership style selected should inspire and foster a harmonious working environment. Branson created Virgin Management Limited to facilitate communication among the various companies that he heads (Dearlove, 2007). What Might That Mean For The Economy? Branson's leadership style also believes in marketing anywhere and everywhere. 5 0 obj He has confidence in his own work. My first business venture was Student magazine. /FirstChar 32 Trying to follow Richard Bransons leadership style would exhaust most businesspersons, but he seems to have a wealth of energy that makes him one of the most exciting entrepreneurs in the world. His risk taking and visionary nature will ensure that his companies explore sectors that other companies are afraid of exploring. Helps Team Members Improve Their Knowledge. 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. Bransons has aParticipativeorDemocraticstyle of leadership. /Encoding /WinAnsiEncoding Democratic Leadership can Lead to a Culture of not Taking Responsibility. >> Is New Business Creation Still Setting Records? He truly feels that getting other peoples input and listening to what. I caught up with Sir Richard Branson, as he was releasing his latest book,The Virgin Way: Everything I Know AboutLeadership. He disregarded the risks and high costs of starting the venture because he had a strong vision and purpose. He has a collaborative management approach that empowers his employees to reach the goals of the organization. The question is,How do you achieve the best skills to be a great leader and touch the success? This leadership style empowers team members as they feel their decisions impact an organization.. 0 0 0 556 611 556 611 556 333 611 611 278 0 556 278 889 Branson has been able to overcome these challenges by embracing innovation and change. /LastChar 150 Our strategy has been to screw business as usual. Richard Branson believes in thedelegation. Apart from incorporating different international standards and cultures into his business operations, he contributes towards the growth of the global economy. He is well known for his leadership style that helped him become a self-made billionaire. /ItalicAngle 0 Thank you! 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). Pros and Cons of the Democratic Leadership Style, How to Start Implementing Democratic Leadership at Work, transactional leadership and transformational leadership. He doesnt expect everything to fall into place the first time, though. On the other hand, their lack would lead to a conclusion that he is not a leader that I would like to work under. Mills, J., Bratton, J., & Forshaw, C. (2006). He moves to the new solutions each time there is a problem. London: University of Toronto. Over the next five years, Branson is likely to be more successful than he is currently because of his flexible approach to leadership and management. /Type /FontDescriptor They are good at listening to others ideas and opinions. 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. 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). This group's decision-making process gives room for the adoption of better ideas. It can Lead to Procrastination: Democratic leadership style can create a working environment where team members procrastinate due to a lack of motivation and situational awareness. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. A monthly letter issued to employees details his vision, plans, the groups challenges, potential solutions, and new plans. Its done on gut feeling, especially if I can see that they are taking the mickey out of the consumer., Business opportunities are like buses, theres always another one coming.. If you love what you do and if you believe in what you do, others will share your enthusiasm. Every time as he appears on TV, in the newspaper or a magazine, he promotes the Virgin brand. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. What everyone tells you never to do may just work, once. 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. Selecting Leaders:Richard Branson is directly involved in the process of hiring new employees in his organization. StudyCorgi. No matter what, as a leader you need to be very attentive to the words which are being delivered by your followers. Stiff competition and the unpredictability of financial markets are some of the reasons why many companies fail or achieve average success. 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. 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 dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. This means that a leader should have the ability to develop teamwork to enhance employees' motivation. For instance, Hogan and Hogan (2008) argue that, when monetary rewards cease from being sources of motivation, organization consider delegation of responsibilities as a means of keeping employees motivated (p.43). Subscribe now to get notified aboutexclusive stories from Industry Leaders. Hogan, R., & Hogan, J. Their presence would tell me that he is a good leader that I would work under. While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. As a leader, you should always be listening. Apart from behavioral skills, communication skills constitute one of the attributes that a leader must possess. 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. /FontName /Arial-BoldMT Tips for Running a Successful Fulfilled by Amazon Business. 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.. His heart-warming approach unifies people and capitalism in a way Ive never seen attempted before. Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. Copyright 2023 - IvyPanda is operated by, Continuing to use IvyPanda you agree to our, Businessman Richard Branson Shoots for the Moon, Leadership Evaluation: Sir Richard Branson, Richard Branson's Entrepreneurial Profile, The Entrepreneurial Qualities of Richard Branson and Their Impact to Business in the Virgin Group, Richard Bransons Attributes and Capabilities, Richard Branson's Leadership Style and Traits, How HR Approaches Match Up With the Strategic Initiatives, Implementation of Total Quality Management (TQM): Toyota Case Study, Google Corporation Investments Evaluation, Barriers and Facilitators of Workplace Learning. If I ever said anything ill about somebody as a kid, she would send me to stand in front of the mirror for 10 minutes because she said it reflected so badly on me, and this has always stayed with me. 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. endobj Branson doesnt have all of the skills needed to make his visions come true. Richard Branson believes in the delegation of authority. , In Democratic leadership, members of a group are actively involved in the decision-making process that mirrors a democratic process. Minnesota, US: Southwestern. Great leaders often identify with a given leadership style when leading group members. Virgin Group owns about 400 companies. 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. To look at what it is our customer wants, and what it is the industry needs, and to go in and exceed their expectations. he mentioned himself as a collaborative and democratic person. 2019. "Leadership Style of Richard Branson." 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. Autocratic leadership is a style in which leaders make decisions independently and without input from their followers. "Leadership Style of Richard Branson." Therefore, innovation and creativity are part of his leadership. When he select a person for his business, he can do it very easily as he knows about different types of personality. In an interview with Telegraph, he said, I have always believed in the art of delegation finding the best possible people for Virgin and giving them the freedom and encouragement to flourish. Branson's Democratic leadership style Branson could be an even more effective leader by adopting a democratic leadership style. References: The Ability to Delegate:Richard Branson believes in thedelegation. 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