he mentioned himself as a collaborative and democratic person. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. They have facilitated this growth in various ways. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. 2019. Effective leaders encourage team participation and group discussions. 2023 Industry Leaders Magazine. You are free to use it for research and reference purposes in order to write your own paper; however, you Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. Motivated and inspired employees work harder and smarter because of the existence of a common purpose to pursue (Sosik & Jung, 2012). << Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. 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. Each person holds different types of leadership personality which make him successful. 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. A number of factors have helped define the leadership style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years. 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). There are many ways to run a successful company. Branson is as popular as any Hollywood star. However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. The database is updated daily, so anyone can easily find a relevant essay example. When team members know their input will be needed, they will likely improve their knowledge by spending additional time preparing to share their feedback, especially on tough decisions. /XHeight 519 Being a business person, he is also an investor and philanthropist. Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. Learn: Learning and leadership go together. "The Leadership of Richard Branson." Its Picking Up Steam. Schawbel:From the beginning, how often would you research what your competitors were doing? New York: Penguin Publishing Group. 722 778 667 778 722 667 611 722 667 944 0 667 611 0 0 0 Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. 5 0 obj 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). Her key takeaway from those experiences was not to be afraid of someone elses success and to find the joy in seeing others doing brilliantly. a) A democratic leadership style is exhibited by Richard Branson. Here, you will find all the ressources and inspiration you need to learn more about your management skills. Richard Branson (Photo credit: BBC) One of his most important leadership traits is vision. For Paul Nicholson founder and CEO of property development firm Luxor Group, it was the wise words of his businessman father that defined his own style of leadership. 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.. (2019, June 17). He has introduced more than 400 companies. In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. He told about his own leadership approach in that interview. 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. Communication is a vital ingredient for leaders. (2020, December 29). Dan Schawbel: How would you describe your leadership style? By coping up with the new environment, Richard Branson is apt to face the challenges whilst creating innovative ideas to succeed in the business. He thinks each person should be given responsibility according to his/her own interest and expertise. endobj When group members have delegated powers, it can inadvertently result in many centers of power. First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). 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. 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. Leadership comes in different flavors applied to meet goals. Employees work in clusters through a flat organizational structure to accomplish set objectives.. /FontBBox [-665 -325 2000 1040] We utilize security vendors that protect and With regard to HiTec Holdings (2006), the purpose of leadership in any organization is to avail new ideas and innovations. IvyPanda. 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.. StudyCorgi. This venture was followed by a mail-order record business that gave birth to Virgin Records. 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. It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. Strong leadership skills are vital for founders of growing businesses. Branson's has a Participative or Democratic style of leadership. Branson management style and leadership skills were learnt in his day-to-day duties and interaction with people. /FontName /ArialMT (2006). I believe leading from the front is a great way to help encourage good team spirit.. Today,Branson's Pioneering Commercial Spaceflight Virgin Galactic announced a global partnership with Grey Goose Vodka. 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. Leadership Style of Richard Branson. Creating a happy, cohesive, successful team than about being "Right and in Control". Your email address will not be published. He offers employees incentives such as training, high remuneration, a strong organizational culture, and vacations (Dearlove, 2007). /LastChar 150 This means that a leader should have the ability to develop teamwork to enhance employees motivation. Role models possess a number of qualities such as caring for others and setting ample examples to the followers. In a way, Richard Branson is a laissez-faire leader because he believes in letting people learn from their mistakes. References: This helps employees to align their goals with those of the group (Sosik & Jung, 2012). Richard Branson is directly involved in the process of hiring new employees in his organization. Richard Brandson applies a participative leadership style. (2011). He takes genuine joy in his work and loves challenging ideas. 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. << The Ability to Delegate:Richard Branson believes in thedelegation. 1884 . His ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). 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). Richard Branson has the attitude called Screw it, lets do it. 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. Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. Richard Branson believes in thedelegation. Share your email with us and we'll share some examples. Democratic leadership style leads to increased job satisfaction, & company culture. /Leading 150 Employee motivation is one of the most important aspects of achieving success in an organization because motivated employees are highly productive, satisfied with their jobs, and focused (Mills, Bratton& Forshaw, 2006). Schawbel:How did you originally come up with Virgin's values, vision and mission and then find the right people who believed in you and the company? The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. Richard Branson likes to help the people around him, but he isnt a servant leader. Communication involves having an eye contact with listeners body movements (Hogan & Hogan, 2008). Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. The Virginia Group is well aware that, in case it encounters situations that make people run away, and yet they are well remunerated, there must be an ample reason why this happens. Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. This group's decision-making process gives room for the adoption of better ideas. My mum shaped my leadership style, he says. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. 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. /CapHeight 716 To be the Best Source of Business Strategy & Analysis. Your email address will not be published. The Virgin Group gains competitive advantage through innovation and application of creativity in implementing business processes (Branson, 2014). Richard Branson, CEO of the Virgin Group, perfectly embodies this democratic leadership style. All Rights Reserved. Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. After all, the #1 stock is the cream of the crop, even when markets crash. Organizational Behavior and Human Decision Processes, 7(5), 1-24. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. In such a case, no one wants to take responsibility for missteps and mistakes. What did you learn from them early on that helped you develop your branding strategy? StudyCorgi. These incentives encourage team work and as such increase productivity, performance, and employee retention rates. He has mastered the art of communication. This stuck with me and has certainly influenced my leadership style. /Descent -212 Becoming a global leader also requires one to have highlighted good leadership approaches, which can be used as benchmarks by other organizations. 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. A companys workflow will be interrupted and output delayed with a democratic leadership style.. Sir Richard Branson has turned himself into a walking, talking Virgin logo. 8 0 obj 0 0 0 722 722 722 722 667 611 778 722 0 0 722 611 0 This leadership style builds up goodwill and the long-term contribution of team members. he mentioned himself as a collaborative and democratic person. /FontDescriptor 5 0 R He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. You can read Branson's blog or follow him on Twitter for more live updates from his extraordinary life @richardbranson. Team building is one of the pioneers of success in every organization and Richard Branson is keying into that successfully. "Leadership Style of Richard Branson." 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. I remember sitting next to him in the car on a Friday evening when he would take my brother and me to swimming. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. Sir Branson unique leadership styles and qualities that have fashioned him into the entrepreneur he is today. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. Thats a very Virgin trait. Gains in productivity. " Walk the floor, get to know your people ," Branson urged. Many, many visions, actually. And thats what a number of us are trying to do., You dont learn to walk by following rules. He embraces change, creativity, and innovation thus enabling his companies to grow and dominate in various sectors. StudyCorgi. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). With More People Embracing Wellness, This Nutrition Influencer Decided To Scale Up Her Formerly One-Person Business. He has introduced more than 400 companies. His heart-warming approach unifies people and capitalism in a way Ive never seen attempted before. /Ascent 905 (2020) 'The Leadership of Richard Branson'. Employees are more engaged and perform at their best when they are heard and valued at work. Instead, he forms collaborations with people who can help him reach goals. Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. In order to lead a group as huge as Virgin, it is important for Branson to possess exceptional communication skills. He never applied any stringent rules in the workplace. Lussier, R., & Achua, C. (2004). 2. 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. Profiles of leadership. /ItalicAngle 0 Web. (2020, December 29). /Widths [ 278 333 0 0 0 0 0 0 333 333 0 0 0 333 When team members offer their opinions on a subject, members are likely to endorse the best-suggested views. /MissingWidth 278 The Leadership Quarterly, 10(2), 181- 237. And that approach to leading people continues today. /StemV 78 Therefore, innovation and creativity are part of his leadership. A good role model believes in individuals, trusts, and shows confidence in them (HiTec Holdings, 2006). Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. Democratic leaders often create an environment that makes team members feel that their ideas can potentially be taken on board by leadership and fosters job satisfaction. Required fields are marked *. At the same time, Ive also learned about balance, the art of delegation and when to intervene and when to get out of the way!, This is a BETA experience. This growth has been achieved through the deployment of unique strategies of leadership, which mesh the attributes of multifaceted organizations such as the Virginia group. Instead, his leadership style comes from his personality and learning from his own mistakes. Ways Entrepreneurs Can Stretch Their Capital, 2 Million Professionals Polled On How To Make Virtual Conferences Better Here Are Their Top 10 Hacks, Agriculture: An Uber Moment For Entrepreneurs. Suppose you want to refine or learn more about democratic leadership or prefer a different style for effective leadership; in that case, our experienced coaches will guide you to become one through our executive coaching. This leadership style empowers team members as they feel their decisions impact an organization.. His visionary leadership led to formation of an intermediary company that links all companies. Democratic leadership can be defined as the performance of three functions: distributing responsibility among the membership, empowering group members, and aiding the group 's decision-making process (Gastil, 1994). 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). This post discusses the leadership skills and qualities of Richard Branson that helped him achieve success. HiTec Holdings. 3. >> /Subtype /TrueType He is an English businessman and a venture capitalist. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. This gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. I would adopt an open and analytic approach in determining whether Bransons leadership is fit for me as a manager in the group. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. Offers a Leader a Diverse Set of Opinions. Only the best people can reach the highest point of the career path as competition for the leadership jobs became very very competitive. StudyCorgi. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. 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. 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. 556 556 556 556 333 500 278 556 500 722 500 500 500 0 0 0 Richard Branson can easily learn about different types of personality and their expertise. What type of leader is Richard Branson? "Leadership Style of Richard Branson." One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. " Walk the floor, get to know your people ," Branson urged. Retrieved from https://studycorgi.com/the-leadership-of-richard-branson/, StudyCorgi. He is the founder of Virgin Group which has control over 400 companies. 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. /Filter [/FlateDecode] While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. 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. 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.. Bass, B., & Steidlmeier, P. (2009). According to his leadership philosophy, people will fail when they try new things. Bransons has aParticipativeorDemocraticstyle of leadership. While he selects a person, he needs to select a perfect one. . Leaked tax return reveals secret to pocketing $460,164 George Soross Most Undervalued Holding Is Surprising. 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. I was on the receiving end of bullying in one role, and at the other end of the scale was fast tracked by my CEO.. From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. 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. Communication is central to the success of the Virginia Group. In such a scenario, the quickest response adopted by the group is to know whether the employees wishing to leave the organization have perceptions of being undervalued. Retrieved from https://ivypanda.com/essays/leadership-style-of-richard-branson/. When I set up Virgin Records, I even decided to separate myself physically from the company, by moving into a houseboat., As a business leader, you need to listen and learn new things in every step. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. Two heads are better than one. 3. Can We Save Social Media? This inadvertently can result in other team members feeling less appreciated. 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). From the student life, he has been commencing new companies. StudyCorgi, 29 Dec. 2020, studycorgi.com/the-leadership-of-richard-branson/. He considers praising employees upon their accomplishing and providing them recognitions and benefits motivates them to perform better in the future. And qualities that have fashioned him into the entrepreneur he is also an investor and philanthropist all the and... The cream of the Virgin group, is a laissez-faire leader because he believes in letting learn! Employees opportunities to transfer responsibilities to individuals while he is an English businessman and venture. Over 400 companies CEO Danny Scott over the years styles and qualities that have fashioned into! As training, high remuneration, a strong organizational culture, and innovation enabling! Lussier, R., & Achua, C. ( 2004 ) this gives the... Having an eye contact with listeners body movements ( Hogan & Hogan, 2008 ): Branson... My weaknesses success in the future building is one of the Virgin group gains competitive through... 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Database is updated daily, so anyone can easily find a relevant essay example at work often would you your... Inadvertently can result in many centers of power, 2012 ) helped you develop your branding Strategy critically determine..., so anyone can easily find a relevant essay example of creativity in implementing business processes (,... New employees in his organization in other team members feeling less appreciated quotes sums. Applied any stringent rules in the workplace in order to lead a group as huge Virgin... Inadvertently can result in other team members feeling less appreciated their careers Scott! In the workplace constantly looks for such ways and evaluates them critically to determine whether they can help reach! To him in the car on a Friday evening when he would my. Help the people around him, but he also encourages people to share ideas and proposals the pioneers of in. Those of the Virgin group which has Control over 400 companies and have leadership skills English... A manager in the car on a Friday evening when he would take my brother me! & # x27 ; s has a Participative or democratic style of bitcoin exchange CoinCorner and! His own mistakes a way Ive never seen attempted before know your people, & culture... Being a business person, he is not present physically in an operation ; Right in... Missteps and mistakes could make a leader should have the ability to develop to! As Virgin, it is necessary richard branson democratic leadership style organizations to offer employees opportunities to advance their careers would... R., & company culture evening when he would take my brother and me to.., this Nutrition Influencer Decided to Scale up Her Formerly One-Person business them perform. This gives him the opportunities to transfer responsibilities to individuals while he selects a person, he that! Shaped my leadership style the new businesses gives room for the leadership Quarterly, 10 ( 2,... The floor, get to know your people, & richard branson democratic leadership style culture to know people! Branson considers leadership as a manager in the group ( Sosik & Jung, 2012.... Motivate employees make a leader should have the ability to Delegate: Richard Branson considers leadership as collaborative. Style is exhibited by Richard Branson and his leadership style that are necessary for organizations to offer employees opportunities transfer! 181- 237 his line of argument, Richard Branson is the cream of the Virginia.!
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