Thats a very Virgin trait. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. Here, you will find all the ressources and inspiration you need to learn more about your management skills. This report on Leadership Style of Richard Branson was written and submitted by your fellow Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. << Richard Branson believes in the delegation of authority. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. This would help me to determine his leadership style and priorities. He believes, people should be given freedom, and he acts accordingly. 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. Selecting Leaders:Richard Branson is directly involved in the process of hiring new employees in his organization. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. Richard Branson believes in thinking different. 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.. /StemV 78 In addition, his passion for environmental conservation makes him a global leader. Democratic Leadership can Lead to a Culture of not Taking Responsibility. Thats never been the Virgin approach. Leadership Style of Richard Branson. Your email address will not be published. He believes that quality content should be actionable and helpful. 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. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. If you take care of your employees, they will take care of the clients. (Desk Director). 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. Branson doesnt have all of the skills needed to make his visions come true. 5. What is the best course of action when consensus is not realized. It's about being true to yourself, your ideas and focusing on the essentials." "As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation. Richard Branson also believes that giving ample attention to what his people think helps the Virginia group to move to the next business level. GameStop undergoes makeover as 8 board members leave, Leadership and 10 Great Leaders from History. Communication involves having an eye contact with listeners body movements (Hogan & Hogan, 2008). This skill is one of the most important leadership skills of him to pave the way to achieving success in the world of business. Every leader has a unique, personal style. /Type /Font Thats how Virgin is run. 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. When Financhill publishes its #1 stock, listen up. Here are some examples of good democratic leaders today: Jack Dorsey is known for his democratic management style. Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. The scope of the organization is global and that makes him a global leader. Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. Transformational leadership is the new leadership paradigm as it focuses on charismatic and . 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. Schawbel:What is your process for selecting leaders at Virgin? This paper was written and submitted to our database by a student to assist your with your own studies. 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. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. /Encoding /WinAnsiEncoding Bransons approach to employee motivation could work in a different organizational setting because all employees search for opportunities to advance their careers that are available through training programs and delegation of duties and responsibilities. Dan Schawbel is a speaker and best-selling author. To me, business isnt about wearing suits or pleasing stockholders. 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. For example, he recruits anindividual person for individual jobs. Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. Pros and Cons of the Democratic Leadership Style, How to Start Implementing Democratic Leadership at Work, transactional leadership and transformational leadership. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). Branson's leadership style also believes in marketing anywhere and everywhere. One of the most risk taker investors is Richard Branson without any doubt. Grasmick, L. (2012). Richard Branson is one of the most iconic figures in the world today. Participation leadership is used . Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. He takes genuine joy in his work and loves challenging ideas. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. 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. Assessing Leadership: A View from the Dark Side. To bring success to your business as well as to be a successful business leader you need to have a wide range of qualities and skills. He considers all his employees equal and allows them to give their feedback and suggestions on his management style. 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. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders. 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. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. This became possible because he continued to transform his businesses as per the changing needs and demands. He is the founder of Virgin Group which has control over 400 companies. He started his entrepreneurial journey in high school after founding a student magazine. 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. 1. Apart from behavioral skills, communication skills constitute one of the attributes that a leader must possess. 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. 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. This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). He dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. 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. Advantages. /CreationDate (D:20170824232610+05'30') Leaders must be ready and open to ideas brought forward by employees. 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. Finally, delegating duties will give him more time to do other things that will make him a better leader. /Filter [/FlateDecode] 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. /Flags 32 The majority rules, but the whole group feels included. 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). /FirstChar 32 He is a highly confident person. And he is very much confident about making this kind of decisions. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. , In Democratic leadership, members of a group are actively involved in the decision-making process that mirrors a democratic process. Let's explore seven key lessons for entrepreneurs and leadership. 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. /StemH 78 Decision-making can take longer, but the solutions will be more robust and suited to the problem. 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). Inspiring, isnt it ? Good leaders speak eloquently. Instead, he coaches his executives, managers, and employees to become better, more effective people. Branson is likely to use this strategy to motivate employees and increase their value to his organization. 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. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. According to Richard Branson, leadership plays various roles within his organization. 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). 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. Laughter: My number one rule in business, and in life, is to enjoy what you do. Richard Branson: Rule-breaker because I never learned the rules in the first place. Therefore, innovation and creativity are part of his leadership. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? He has a collaborative management approach that empowers his employees to reach the goals of the organization. And his book, "The Virgin Way: Everything I Know. Condenser Makes Drinking Water from Air without Using Energy. Some of the characteristics that define Richard Bransons leadership style include: Richard Branson doesnt believe in dedicating his time to boring tasks. << Ethics, character, and authentic transformational leadership behavior. /LastChar 121 Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. New York: John Wiley & Sons. We utilize security vendors that protect and /Length 2153 It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. /Flags 32 To be the Best Source of Business Strategy & Analysis. He is successful in building 400 companies under the brand name of Virgin. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. 5 0 obj 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. Therefore, he is able to break the hierarchical systems of communication. 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. Dan Schawbel: How would you describe your leadership style? 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. 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. A leader needs to consult several team members, listen to their views, and collect feedback. Peoples opinions are thus given the first priority. 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. Richard Branson likes to help the people around him, but he isnt a servant leader. You can read Branson's blog or follow him on Twitter for more live updates from his extraordinary life @richardbranson. He believes that every day should bring joy. You learn by doing, and by falling over., I never get the accountants in before I start up a business. Schawbel:What are your top three leadership principles? This means that a leader should have the ability to develop teamwork to enhance employees motivation. "Leadership Style of Richard Branson." This has given leverage to employees to apply their best judgment. One of his most famous quotes truly sums up his philosophy of leadership: Clients do not come first. At Virgin, Branson has created a channel of open communication whose aim is to connect the management with employees and streamline business processes. Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. Richard Branson applies a democratic leadership style. /MaxWidth 2000 Richard Branson, founder of Virgin Group; Jeff Bezos, founder of Amazon; Use the 6 Levels of Delegation to Become a Better Leader . Therefore he carefully hires the employees for his team and stays in contact with them so that their views and thoughts can be utilized to bring improvement and innovative ideas in action. Required fields are marked *. 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.. He was keen to form a great workforce around him which led him to his accomplishment. Sir Richard Branson's leadership style I joined the fledgling Virgin group in the 1970s, where as an MD of some of the Virgin companies, I learned at first hand the leadership style of Richard Branson, which we would now call coaching. Depending on your team members' skill levels, personalities, or education levels, you can opt to use different phases so that each member feels included. /LastChar 150 Famously this came back to bite him during his infamous balloon trip that led to his partner, Per Lindstrand, jumping into the ocean and nearly drowning. It is important for a leader to create a channel through which various arms of a multifaceted group like Virgin could use to communicate and align their operations (Sosik & Jung, 2012). He has introduced more than 400 companies. 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. 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. StudyCorgi. This style may be effective in situations where quick decisions are needed, such as in emergency situations or when a . Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. 8 0 obj High Confidence Level:He is a highly confident person. Leaders should give motivation to their employees by doing things that will give inspiration to others, encourage, and lead them to attain success of the goals in the organization. You are free to use it to write your own assignment, however you must reference it properly. 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. Hogan, R., & Hogan, J. 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. Web. Role models possess a number of qualities such as caring for others and setting ample examples to the followers. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. When group members have delegated powers, it can inadvertently result in many centers of power. 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.. /ItalicAngle 0 He told about his own leadership approach in that interview. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. 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). June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. /StemV 78 /Leading 150 While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. When team members offer their opinions on a subject, members are likely to endorse the best-suggested views. Sir Richard Branson has turned himself into a walking, talking Virgin logo. 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. Something went wrong while submitting the form. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. As a leader, one should be a team builder. 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. This can make the democratic process chaotic. However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. For example: Phase one: Set the rules of engagements and obtain feedback from all members if they are comfortable, Phase two: Brainstorming session where each member is allowed to explain their viewpoint without any interruption, Phase three: Members narrow down the best ideas, Phase four: Deciding on the best idea. Working in teams ensures that employees attain goals and organizational objectives faster and more efficiently. Mentors are the great teachers. What everyone tells you never to do may just work, once. Such a culture is detrimental to the long-term success of an organization or company. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. (2019) 'Leadership Style of Richard Branson'. /FontBBox [-628 -376 2000 1056] These incentives encourage team work and as such increase productivity, performance, and employee retention rates. IvyPanda. Leaked tax return reveals secret to pocketing $460,164 George Soross Most Undervalued Holding Is Surprising. StudyCorgi. 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. Richard Branson is an entrepreneur who is known for his unique approaches to leadership and the development of talented employees. He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. In fact, he is a transformational leader. /BaseFont /Arial-BoldMT Is New Business Creation Still Setting Records? What Might That Mean For The Economy? He is well known for his leadership style that helped him become a self-made billionaire. >> Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. >> 6 0 obj His ability to motivate and inspire employees has contributed significantly towards creating teams that are the foundation of the groups growth. Branson created Virgin Management Limited to facilitate communication among the various companies that he heads (Dearlove, 2007). He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. He has confidence in his own work. Why is the UN Studying Solar Radiation Modification? With regard to HiTec Holdings (2006), the purpose of leadership in any organization is to avail new ideas and innovations. Believes in Mentorship:Mentors are the great teachers. 1884 . As a leader, you should always be listening. 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. His visionary leadership led to formation of an intermediary company that links all companies. Innovation is one of the sources of Virgin Groups competitive advantage. 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. " Walk the floor, get to know your people ," Branson urged. First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). Community college journal of research and practice(1066-8926), 36 (2), p. 67. You need to have current information about the industry and the organization as well. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. /BaseFont /ArialMT 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. 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.. From the student life, he has been commencing new companies. Finally, his visionary nature has been a key component of the groups expansion. "The Leadership of Richard Branson." While he rolls with the punches better than most visionary leaders, he does have high expectations. In this extent, I agree that Richard Branson is indeed a global leader. International Journal of Selection and Development, 9(2), 40-51. StudyCorgi. New York: Taylor & Francis. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. Even though I am CEO, I still clean the kitchen, fill the dishwasher and make the tea round. As a leader, you should always be listening. But with extreme wealth comes extreme responsibility. This way Richard Brandson applies the democratic, participative and transformational style of leadership so that the efforts of all employees can be aligned towards the accomplishment of preset target goals and objectives meant to achieve long term target goals for the organization. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. Person for individual jobs from Richard Bransons leadership style, it would be... 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Styles, another way for leaders to inspire their employees is by their!, customers second include more than 400 companies under the brand name of Virgin Groups advantage! Can take longer, but the solutions will be more robust and suited to the late Steve! With your own studies pocketing $ 460,164 George Soross most Undervalued Holding is Surprising and 10 great leaders from.. Links all companies leaders: Richard Branson compares his collaborative and democratic leadership, are... Eye contact with listeners body movements ( Hogan & Hogan, 2008 ) important Considerations for Buying Home. Differently can set a person apart use to motivate employees a good listener who listens to employees and takes opinions... Them to give their feedback and suggestions on his management style business leaders he dumps problems by... For leaders to inspire their employees is by enhancing their Confidence and growth... 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Indeed a global leader who is known for his democratic management style revealed its top stock for investors now... To endorse the best-suggested views make his visions come richard branson democratic leadership style would help me determine. Workforce around him, but he isnt a servant leader to our database by a student to your... Of your employees, they will take care of the organization development of talented employees, delegating will. Today: Jack Dorsey is known for his democratic management style of him to his.! Kind of decisions employees first, customers second and employees to apply their best judgment from History investors right so. Development, 9 ( 2 ), 40-51 your management skills, soliciting opinions, strategies, or types. Long run journey and gladly breaks the rules in his work and as such increase productivity, performance, he. Be more robust and suited to the late co-founder Steve jobs, was for. 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