He was born in the year of 1950. His previous best-selling books include Like a Virgin: Secrets They Wont Teach You at Business School, Losing My Virginity, Screw It, Lets Do It, Business Stripped Bare, Reach for the Skies and Screw Business As Usual. He offers employees incentives such as training, high remuneration, a strong organizational culture, and vacations (Dearlove, 2007). After a review of a team members input, the leader makes the final decision, often taking the majority view. He is successful in building 400 companies under the brand name of Virgin. And the responsibility for me is to invest in creating new businesses, create jobs, employ people, and to put money aside to tackle issues where we can make a difference., A business has to be involving, it has to be fun, and it has to exercise your creative instincts., Through the right people focusing on the right things, we can, in time, get on top of a lot if not most of the problems of this world. Thats how Virgin is run. 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. This way a continuous process of improvement in leadership style is attained by Richard Brandson. But with extreme wealth comes extreme responsibility. Yes, We Have No Choice, Cannabis Challenges Differ In Each State Where Its Newly-Legal, 5 Unexpected Places To Find Your Next Great Business Idea. His ability to motivate and inspire employees has contributed significantly towards creating teams that are the foundation of the groups growth. Schawbel:From the beginning, how often would you research what your competitors were doing? Richard Branson is a British Business magnate and investor, best known as founder and chairman of Virgin Group. /Type /FontDescriptor One of the most risk taker investors is Richard Branson without any doubt. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. "Leadership Style of Richard Branson." First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). Branson's leadership style also believes in marketing anywhere and everywhere. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). A less obvious one was the time his boss asked him to clean the toilets. Minnesota, US: Southwestern. Sir Richard Branson has turned himself into a walking, talking Virgin logo. Improves motivation and morale; Performance improves due to greater ownership for all team members While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. Richard Branson, founder of Virgin Group; Jeff Bezos, founder of Amazon; Use the 6 Levels of Delegation to Become a Better Leader . Every business, like a painting, operates according to its own rules. While he selects a person, he needs to select a perfect one. Richard Branson has a unique leadership style that makes him unlike any other entrepreneur. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. /Subtype /TrueType Depending on your team members' skill levels, personalities, or education levels, you can opt to use different phases so that each member feels included. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. At times when decisions are important, Richard Branson makes decisions by taking the right moves for the companys betterment. endobj Mentors are the great teachers. 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. Virginia Group has been described as a fast-growing entrepreneurial company. Communication involves having an eye contact with listeners body movements (Hogan & Hogan, 2008). Say Yes to Everything:Richard Branson has the attitude called Screw it, lets do it. 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. Branson has been able to overcome these challenges by embracing innovation and change. IvyPanda. Today,Branson's Pioneering Commercial Spaceflight Virgin Galactic announced a global partnership with Grey Goose Vodka. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. 0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 London: University of Toronto. Oops! Two heads are better than one. 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. Even though I am CEO, I still clean the kitchen, fill the dishwasher and make the tea round. Richard Branson applies a democratic leadership style. 4. Some of Virgin Groups constituent ventures that are highly successful include Virgin Atlantic, Virgin Galactic, Virgin Mobile, and Virgin Media (Branson, 2014). He prioritizes the personality over the educational background. 2019. He searches for the best person for a specific type of joband recruits him/her. 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. Lussier, R., & Achua, C. (2004). Web. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. The Ability to Delegate:Richard Branson believes in thedelegation. 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. 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.. 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. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. At Highrise, we understand that selecting a suitable leadership style is crucial to realizing positive outcomes. 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. Thats never been the Virgin approach. Indeed, Bransons leadership is unique in several ways. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. Hogan, R., & Hogan, J. Leadership Theory, Application, Skill Development. Employees are expected to be active participants and governance relies on team building, communication, consensus, autonomy, commitment and balance. Richard knows it too well that a good idea emanates from all people irrespective of their status in the organization. 611 611 611 0 389 556 333 611 556 778 0 556]>> In a way, Richard Branson is a laissez-faire leader because he believes in letting people learn from their mistakes. This gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. 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.. << /Type /Font He dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. Branson doesnt have all of the skills needed to make his visions come true. Lindsay Willott is founder and CEO of survey firm Customer Thermometer, which has seen its export sales grow by 268% in the last three years. Mills, J., Bratton, J., & Forshaw, C. (2006). This means that Richard Branson communicates his vision of business to all people in the effort to garner their views. al, 2006). The Virgin Way: Everything I Know About Leadership. Kedharnath, U. /Type /Font 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. And he is very much confident about making this kind of decisions. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. (2020) 'The Leadership of Richard Branson'. 29 December. endobj Employees are offered the opportunity to present their ideas regarding ways in which business processes and operations can be improved. /FontBBox [-665 -325 2000 1040] Its Picking Up Steam. 3. We utilize security vendors that protect and How people coordinate their body movements while speaking and their facial expression also tell a lot. 1. Richard Branson: Rule-breaker because I never learned the rules in the first place. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. He was keen to form a great workforce around him which led him to his accomplishment. Richard Branson is on the successful business person which follows democratic leadership approach. 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. Such a culture is detrimental to the long-term success of an organization or company. His risk taking and visionary nature will ensure that his companies explore sectors that other companies are afraid of exploring. By showing his appreciation for hard work, he keeps everyone focused on their tasks. 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