Mills, J., Bratton, J., & Forshaw, C. (2006). 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). For example, he doesnt have engineering experience to build airplanes. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. From the student life, he has been commencing new companies. 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. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. 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. IvyPanda. 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. Your email address will not be published. He is successful in building 400 companies under the brand name of Virgin. Here are the 11 most common leadership styles. 0 0 0 556 611 556 611 556 333 611 611 278 0 556 278 889 This venture was followed by a mail-order record business that gave birth to Virgin Records. And he is very much confident about making this kind of decisions. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. While Branson doesnt fit into a specific category, his style does show characteristics of: Branson would likely laugh at any of these suggestions, but his decades of leadership speak for themselves. It cultivates a culture of Best Ideas wins.. >> 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 2. 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. 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. Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. 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.. must. Fantastic people throughout the Virgin Group run our businesses, allowing me to think creatively and strategically., You get the idea. endobj Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). /Type /FontDescriptor Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. Lets go further and try one of the most comprehensive coaching experience with us. However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. StudyCorgi. Inspiring, isnt it ? The criteria for evaluation of the effectiveness of Richard Bransons leadership style need to be based on the existing scholarly finding of the functions of leadership and management in an organization. Most leaders who exercise democratic leadership often complement it with participative leadership. /AvgWidth 441 StudyCorgi. 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. Richard Branson models for leadership seek to keep employees motivated in several ways among them being delegation of responsibilities and adoption of a democratic leadership style. You dont learn to walk by following rules. Principle #1: Treat People As People. 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). Recently, he has launched his new idea commercial space traveling. On the other hand, their lack would lead to a conclusion that he is not a leader that I would like to work under. 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. Instead, he allowed his employees to apply their innovative ideas to best deal with the various kinds of business situations. By coping up with the new environment . Richard Branson Leadership Quotes "To me, business isn't about wearing suits or pleasing stockholders. Grasmick, L. (2012). Instead, he forms collaborations with people who can help him reach goals. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. One leadership style that is popular and often works well is Democratic leadership. Autocratic leadership. 29 December. What did you learn from them early on that helped you develop your branding strategy? Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. Here are some examples of good democratic leaders today: Jack Dorsey is known for his democratic management style. Our strategy has been to screw business as usual. Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. * 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. Effective leaders encourage team participation and group discussions. Boosts Jobs satisfaction and motivation. Later he started his own Airways service Virgin Airways. 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. He was unhappy with the customer service of British Airways. 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. Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. GameStop undergoes makeover as 8 board members leave, Leadership and 10 Great Leaders from History. In such a case, no one wants to take responsibility for missteps and mistakes. Laughter: My number one rule in business, and in life, is to enjoy what you do. Employees come first. /LastChar 150 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. The question is,How do you achieve the best skills to be a great leader and touch the success? Selecting Leaders:Richard Branson is directly involved in the process of hiring new employees in his organization. Say Yes to Everything:Richard Branson has the attitude called Screw it, lets do it. He dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. This happens since democratic leadership relies on consensus. Both successful people have great achievement and come up with their own viewpoints, beliefs and approach. 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. If unchecked, this can lower morale and breed resentment. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. He does, after all, own Virgin Galactic, a company that tries to make flights faster by leaving the atmosphere. A leader needs to consult several team members, listen to their views, and collect feedback. 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.. Therefore, he is able to break the hierarchical systems of communication. IvyPanda. Richard Branson is an English investor, businessman, entrepreneur, author, and philanthropist who founded the Virgin Group. Branson's has a Participative or Democratic style of leadership. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders. In some ways, Branson is too flexible to fit into the visionary leader category. Advantages. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. 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.. /Ascent 905 6. Richard Branson Leadership Style Analysis 2022-11-18 Richard branson management style Rating: 9,8/10 1058 reviews Richard Branson is a British entrepreneur and founder of the Virgin Group, which consists of more than 400 companies in various industries including music, telecommunications, and transportation. Bransons leadership traits mesh well with the running of his multifaceted organization. And it was one of the reasons I left school when I was 15 years old. According to Richard Branson, leadership plays various roles within his organization. 4. As part of the democratic leadership style, Richard Branson prefers to maintain healthy leader-member relationships. Leadership Theory, Application, Skill Development. /BaseFont /ArialMT He constantly sets lofty goals for his companies. Every leader has a unique, personal style. 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. /Flags 32 The Virgin Group is one of the worlds most recognized and respected brands, with over 400 companies. He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. Retrieved from https://studycorgi.com/the-leadership-of-richard-branson/, StudyCorgi. Thats a very Virgin trait. (2020) 'The Leadership of Richard Branson'. This post discusses the leadership skills and qualities of Richard Branson that helped him achieve success. 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. 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