When group members have delegated powers, it can inadvertently result in many centers of power. al, 2006). This is IvyPanda's free database of academic paper samples. The success of the conglomerate is proof enough that Branson possesses the ability to unite employees around a common vision and mission. endobj Branson's has a Participative or Democratic style of leadership. When someone does an excellent job, he praises them publicly to motivate others. Condenser Makes Drinking Water from Air without Using Energy. This helps employees to align their goals with those of the group (Sosik & Jung, 2012). References: This style may be effective in situations where quick decisions are needed, such as in emergency situations or when a . Need a custom Report sample written from scratch by 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. Bransons has aParticipativeorDemocraticstyle of leadership. Minnesota, US: Southwestern. Opinions expressed by Forbes Contributors are their own. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. Essentially, leadership plays four main functions within an organization. The author has no position in any of the stocks mentioned. Although he has shown he is capable of this style of leadership in some situations, overall he has relied on his own intuition to make business decisions. You are free to use it to write your own assignment, however you must reference it properly. Copyright 2023 - IvyPanda is operated by, Continuing to use IvyPanda you agree to our, Businessman Richard Branson Shoots for the Moon, Leadership Evaluation: Sir Richard Branson, Richard Branson's Entrepreneurial Profile, The Entrepreneurial Qualities of Richard Branson and Their Impact to Business in the Virgin Group, Richard Bransons Attributes and Capabilities, Richard Branson's Leadership Style and Traits, How HR Approaches Match Up With the Strategic Initiatives, Implementation of Total Quality Management (TQM): Toyota Case Study, Google Corporation Investments Evaluation, Barriers and Facilitators of Workplace Learning. What qualities do you look for in new leaders and what qualities are your biggest turnoffs? StudyCorgi. Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. Web. All Rights Reserved. You are free to use it for research and reference purposes in order to write your own paper; however, you Leadership Theory, Application, Skill Development. /Descent -212 Richard Branson can easily learn about different types of personality and their expertise. These are piloting, direct, scheduling, and managing (Lussier & Achua, 2004). The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. He does, however, have a charismatic personality that gets other people excited about his ideas. Advantages. Richard Branson, CEO of the Virgin Group, perfectly embodies this democratic leadership style. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. 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. Honesty is Prioritized in Democratic Leadership. He was born in the year of 1950. Democratic Leadership can Create Negative Emotions: As democratic leadership relies on the input of team members, It can result in a tendency to always listen to specific team members either because of their experience, skills, or educational level. Thats a very Virgin trait. He is an avid reader and loves swimming as a hobby. Some entrepreneurs have been influenced by other business leaders. We utilize security vendors that protect and This fact lends itself well to companies or organizations with democratic leadership. I also think its vital to quickly understand peoples strengths and weaknesses and determine how they fit and complement your own, adds Fuller. He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. As a leader, you should always be listening. 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.. Personality before CV. Work projects cannot be done within specific timelines due to multiple team members needing to work together. He is well known for his. But with extreme wealth comes extreme responsibility. While developing a teamwork consensus, it crucial for a leader to ensure that employees are empowered (HiTec Holdings, 2006). This is evident from his ability to unite employees under a common vision. 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). Recently, he has launched his new idea commercial space traveling. If unchecked, this can lower morale and breed resentment. This way consistent efforts are made by Richard Brandson to improve his business processes with new-age technology and highly skilled employees so that they could compete with the rising competition in the market and help the sustenance of the business. It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. This venture was followed by a mail-order record business that gave birth to Virgin Records. 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. Richard Brandson is also people-oriented and considers that teamwork is important for the accomplishment of goals and sustenance of business in the long run. Branson is a risk taker and a lover of challenges. /FirstChar 32 /Leading 150 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. he mentioned himself as a collaborative and democratic person. Leadership Style of Richard Branson. Organizational Behavior in a Global Context. His exceptional communication skills enable him to communicate the mission and vision of the group to employees of different companies. And it was one of the reasons I left school when I was 15 years old. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. Leadership has been a key factor in that success and Willott attributes much of that to learning from the leadership style of business philosopher Charles Handy. 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. endobj For instance, a good role model is one with hopeful wishes and confident. 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.. This post may contain affiliate links or links from our sponsors. 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. Leadership Qualities, Skills, and Style of Bill Gates, 8 Benefits of Buying an Existing Business, Key Features or Characteristics of Common Stocks, Leadership Qualities, Skills, and Style of Larry Page, Everything You Need to Know About Content Authoring Tools for E-Learning, 3 Top Tips for Choosing Ambulance Only Insurance Cover, 4 Simple but Effective Techniques to Maximize Your Sales, The Advantages of Using Payday Loans for Wedding Expenses, Factors to consider while choosing a custom boxes seller online, Subsidized Loans and Unsubsidized Loans All You Need To Know. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. endobj Being a business person, he is also an investor and philanthropist. These incentives encourage team work and as such increase productivity, performance, and employee retention rates. 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. Helps Team Members Improve Their Knowledge. 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. Your email address will not be published. Web. Apart from behavioral skills, communication skills constitute one of the attributes that a leader must possess. Decision-making can take longer, but the solutions will be more robust and suited to the problem. The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. When team members offer their opinions on a subject, members are likely to endorse the best-suggested views. 3. << , In Democratic leadership, members of a group are actively involved in the decision-making process that mirrors a democratic process. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. Whether in a multinational or a small business, the leadership style selected should inspire and foster a harmonious working environment. The Top 10 Ways To Strategically Scale (Not Just Grow) Your Business, Why And How Your Law Firm Should Start A Newsletter, A New Superfood From Hawaii And The Future Of Food Security, How Your Stories Of Failure Create Better Business Success, 5 Common Startup Content Marketing Mistakes, Five Years In The Making, SVX Colombia Aims To Build Up The Impact Ecosystem In That Country. In some ways, Branson is too flexible to fit into the visionary leader category. /FontBBox [-628 -376 2000 1056] this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. The commitment is about doing things differently. . He is successful in building 400 companies under the brand name of Virgin. Democratic leadership ensures all employees on the team are heard because they can freely express their opinions, and provide inputs for important decisions that affect them. His open communication policy will ensure that employees express themselves and present their grievances that could be major sources of job dissatisfaction and poor performance. Required fields are marked *. He told about his own leadership approach in that interview. This inference is justified by the actual realization of efforts of expanding the Virginia Group to become a collection of successful business empires ranging from airlines to other service sector businesses, with all of them having a global appeal. Instead, he forms collaborations with people who can help him reach goals. 6fLHg(bMO\TX ,?$N|. Laughter: My number one rule in business, and in life, is to enjoy what you do. Such an approach to organizational leadership best explains the approaches deployed by Richard Branson to succeed in the global domain. This strategy perhaps depicts well the democratic leadership style, which Kedharnath (2011) argues that works well in organizational settings where employees have high skill levels and knowledge. From the student life, he has been commencing new companies. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. Web. Democratic Leadership can Lead to a Culture of not Taking Responsibility. 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. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. He has confidence in his own work. What Might That Mean For The Economy? 8 0 obj As a leader, one should be a team builder. One of the most notable aspects of his leadership is his passion for environmental conservation. It normally involves sending and receiving of messages. Richard knows it too well that a good idea emanates from all people irrespective of their status in the organization. You may opt-out by. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. 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). Branson:Researching the competition has never been the Virgin way. IvyPanda. Richard Brandson applies a participative leadership style. 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.
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