0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 He has mastered the art of communication. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. They have the ability to listen to their employees. And that ability to engage with people and take them with him on the most. StudyCorgi, 29 Dec. 2020, studycorgi.com/the-leadership-of-richard-branson/. Working in teams ensures that employees attain goals and organizational objectives faster and more efficiently. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. After a review of a team members input, the leader makes the final decision, often taking the majority view. He is the founder of Virgin Group that encompasses more than 400 companies all around the world. His approach to business is also unique in the sense that he does not fear engaging in any business. At Virgin, Branson has created a channel of open communication whose aim is to connect the management with employees and streamline business processes. Lets go further and try one of the most comprehensive coaching experience with us. My first business venture was Student magazine. 3. There are many ways to run a successful company. The question is,How do you achieve the best skills to be a great leader and touch the success? This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). 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. If you take care of your employees, they will take care of the clients. (Desk Director). "The Leadership of Richard Branson." He searches for the best person for a specific type of joband recruits him/her. 1. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. He thinks, the business that fulfills the needs of the people can create value vastly, it improves their lives. It also ensures that people abide by values that encourage growth of an organization through integration of organizational behavior. On the other hand, his leadership style has ensured that Virgin Group expands to different economic sectors and countries around the world. In such a situation, employees will be willing and eager to do jobs. Trying to follow Richard Bransons leadership style would exhaust most businesspersons, but he seems to have a wealth of energy that makes him one of the most exciting entrepreneurs in the world. He likes to follow the SWOT strategy. 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. Should this investigation give positive feedback, attempts are made to rekindle the hopes of employees through delegation of responsibilities. He embraces change, creativity, and innovation thus enabling his companies to grow and dominate in various sectors. I believe leading from the front is a great way to help encourage good team spirit.. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. As a leader, one should be a team builder. International Journal of Selection and Development, 9(2), 40-51. On the other hand, their lack would lead to a conclusion that he is not a leader that I would like to work under. Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. Learn: Learning and leadership go together. We want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. A number of factors have helped define the leadership style of bitcoin exchange CoinCorner cofounder and CEO Danny Scott over the years. He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. 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. My mum shaped my leadership style, he says. 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. As a leader, you should always be listening. 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. "The Leadership of Richard Branson." Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. Work projects cannot be done within specific timelines due to multiple team members needing to work together. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. Thats a very Virgin trait. The ability to motivate employees is another aspect of Bransons success. If unchecked, this can lower morale and breed resentment. What is the best course of action when consensus is not realized. When team members understand that everyone's opinion matters, it creates a better collaborative environment that facilitates the free flow of information, making it easy to achieve goals. /Length 2153 Apart from incorporating different international standards and cultures into his business operations, he contributes towards the growth of the global economy. What Might That Mean For The Economy? Work-related challenges increase the skills of employees as well as their value to their organizations. This report on Leadership Style of Richard Branson was written and submitted by your fellow While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). And that approach to leading people continues today. endobj Indeed, Bransons leadership is unique in several ways. After observing these traits, I would analyze them and draw conclusions. He doesnt expect everything to fall into place the first time, though. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. " Walk the floor, get to know your people ," Branson urged. Boosts Jobs satisfaction and motivation. New York: Taylor & Francis. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. 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. Employees are expected to be active participants and governance relies on team building, communication, consensus, autonomy, commitment and balance. Only the best people can reach the highest point of the career path as competition for the leadership jobs became very very competitive. 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. he mentioned himself as a collaborative and democratic person. 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. If I were to first characterize his leadership style I would say he is definitely a democratic leader. student. (2019, June 17). When someone does an excellent job, he praises them publicly to motivate others. Grasmick, L. (2012). Branson created Virgin Management Limited to facilitate communication among the various companies that he heads (Dearlove, 2007). Web. 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. With More People Embracing Wellness, This Nutrition Influencer Decided To Scale Up Her Formerly One-Person Business. 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. Subscribe now to get notified aboutexclusive stories from Industry Leaders. Lussier, R., & Achua, C. (2004). Profiles of leadership. He has confidence in his own work. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. Kedharnath, U. I caught up with Sir Richard Branson, as he was releasing his latest book,The Virgin Way: Everything I Know AboutLeadership. /Widths [ 278 0 0 0 0 0 667 0 333 333 0 0 278 333 He believes that quality content should be actionable and helpful. Democratic leadership works best when applied in certain situations. This skill is one of the most important leadership skills of him to pave the way to achieving success in the world of business. Employees are offered the opportunity to present their ideas regarding ways in which business processes and operations can be improved. Finally, delegating duties will give him more time to do other things that will make him a better leader. 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. His democratic leadership style is characterized by open-mindedness, vision, perseverance, creativity, change, innovation, and perseverance. While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. << Virgin Group owns about 400 companies. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. StudyCorgi. Organizational Behavior in a Global Context. /XHeight 519 Richard Branson is a leader with a vision. Thats never been the Virgin approach. According to Richard Branson, leadership plays various roles within his organization. The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. 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. 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