Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. But with extreme wealth comes extreme responsibility. In such a situation, employees will be willing and eager to do jobs. They have the ability to listen to their employees. stream /Type /FontDescriptor IvyPanda. 2. Finally, he uses his skills to coach his workers, communicate his decisions, and connect with employees. /Encoding /WinAnsiEncoding It cultivates a culture of Best Ideas wins.. 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. While hiring, at first he checks the weakness of that person. 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. Condenser Makes Drinking Water from Air without Using Energy. Ive also become less of a talker and more of a listener, thanks to my dads advice and where possible, I always make myself accessible to the team, he says. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. /Type /Font Some of Virgin Groups constituent ventures that are highly successful include Virgin Atlantic, Virgin Galactic, Virgin Mobile, and Virgin Media (Branson, 2014). By showing his appreciation for hard work, he keeps everyone focused on their tasks. 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. /FirstChar 32 He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. Richard Branson is a British Business magnate and investor, best known as founder and chairman of Virgin Group. And that ability to engage with people and take them with him on the most challenging of business journeys he says is down to his mother, Eve Branson. Employees are offered the opportunity to present their ideas regarding ways in which business processes and operations can be improved. Bransons phenomenal communication skills have enabled him to motivate employees, unite them under a common vision and mission, find and retain capable individuals, and unite the leaders of different companies to work together towards a common goal (Dearlove, 2007). Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. Need a custom Report sample written from scratch by /FontBBox [-665 -325 2000 1040] His ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). Your submission has been received! 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. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. Branson is likely to use this strategy to motivate employees and increase their value to his organization. Boosts Jobs satisfaction and motivation. Depending on your team members' skill levels, personalities, or education levels, you can opt to use different phases so that each member feels included. /StemV 78 You dont learn to walk by following rules. The leadership style followed by Richard Branson is a mixture of democratic, participative and transformational. This is only possible with democratic leadership, as it is the only leadership style that allows team members to speak and act freely. London: University of Toronto. 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. To me, business isnt about wearing suits or pleasing stockholders. Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. Jack has fostered a working environment where all team members are free to speak up, collaborate and participate in the decision-making process., Tim Cook, the CEO of Apple, is a democratic leader, unlike his previous predecessor Steve Jobs autocratic style. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. If you are the original creator of this paper and no longer wish to have it published on StudyCorgi, request the removal. 4. This became possible because he continued to transform his businesses as per the changing needs and demands. The leadership of Richard Branson has dramatically influenced the success of his Virgin Empire (Kinicki & Fugate, 2016, p.151). /Descent -212 Richard Branson likes to emphasize that he never learned the rules of running a success business. This would help me to determine his leadership style and priorities. Richard Branson strongly believes in the process of mentorship. Ethics, character, and authentic transformational leadership behavior. I certainly would have failed IQ tests. In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. Indeed, Bransons leadership is unique in several ways. He has confidence in his own work. /MissingWidth 278 Stiff competition and the unpredictability of financial markets are some of the reasons why many companies fail or achieve average success. 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. Their presence would tell me that he is a good leader that I would work under. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. These incentives encourage team work and as such increase productivity, performance, and employee retention rates. 278 0 0 0 0 0 0 0 0 0 0 0 333 0 0 0 Branson created Virgin Management Limited to facilitate communication among the various companies that he heads (Dearlove, 2007). Thats a very Virgin trait. A number of factors have helped define the leadership style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years. (2019, June 17). Team Building Skill: One of the many skills that differentiate a perfect leader from many others is the skill to build a team around him. (2019) 'Leadership Style of Richard Branson'. The most obvious one was the role of his parents in his upbringing, which contributed to his work ethic. , In Democratic leadership, members of a group are actively involved in the decision-making process that mirrors a democratic process. This perspective fuels his leadership style by making him an open-minded, social person willing to take risks. Helps Team Members Improve Their Knowledge. Grasmick, L. (2012). /FontName /ArialMT 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. Its not surprising, then, that he never learned to fit into a specific style of leadership. 278 278 556 556 556 556 556 556 556 556 556 556 278 278 0 0 Sosik, J., & Jung, D. (2012). Lussier, R., & Achua, C. (2004). 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. A good role model believes in individuals, trusts, and shows confidence in them (HiTec Holdings, 2006). 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. November 5, 2020 by Amy Campos. While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). A less obvious one was the time his boss asked him to clean the toilets. Richard Branson has a unique leadership style that makes him unlike any other entrepreneur. He is an avid reader and loves swimming as a hobby. This is IvyPanda's free database of academic paper samples. Branson is famous for his success in the business field with his unique characteristics, which are an attribute to his success. The Ability to Think Differently:Richard Branson believes in thinking different. Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. Employees are more engaged and perform at their best when they are heard and valued at work. Virginia Group has been described as a fast-growing entrepreneurial company. Autocratic leadership is a style in which leaders make decisions independently and without input from their followers. As a leader, one should be a team builder. When he select a person for his business, he can do it very easily as he knows about different types of personality. You need to have current information about the industry and the organization as well. 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. Mentors are the great teachers. "Leadership Style of Richard Branson." Let's explore seven key lessons for entrepreneurs and leadership. Team building is one of the pioneers of success in every organization and Richard Branson is keying into that successfully. 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. endobj >> Branson doesnt have all of the skills needed to make his visions come true. 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. 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. The Leadership of Richard Branson. 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. However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. New York: Taylor & Francis. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. His heart-warming approach unifies people and capitalism in a way Ive never seen attempted before. << High Confidence Level:He is a highly confident person. 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