This inadvertently can result in other team members feeling less appreciated. This venture was followed by a mail-order record business that gave birth to Virgin Records. It cultivates a culture of Best Ideas wins.. /ItalicAngle 0 When team members offer their opinions on a subject, members are likely to endorse the best-suggested views. Adaptability skill helped him to grow his business and fame faster. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. 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. Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. /MissingWidth 278 A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. This is evident from his decision to venture into businesses that operate in different economic sectors. A less obvious one was the time his boss asked him to clean the toilets. 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. Veritone vs C3.AI: Which Is Better AI Stock. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. 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. StudyCorgi. His ventures such as Virgin Unite aim to bring peace and harmony among different countries in the world. Branson is a risk taker and a lover of challenges. (2020, December 29). /Type /Font This gives him the opportunities to transfer responsibilities to individuals while he is not present physically in an operation. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. 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. Sir Richard Branson believes great business leaders should have good leadership skills, be highly visible, engaging with employees and making things happen wherever possible. With regard to HiTec Holdings (2006), the purpose of leadership in any organization is to avail new ideas and innovations. This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. This would help me to determine his leadership style and priorities. 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. Whether in a multinational or a small business, the leadership style selected should inspire and foster a harmonious working environment. One of the most notable aspects of his leadership is his passion for environmental conservation. When Financhill publishes its #1 stock, listen up. From the student life, he has been commencing new companies. In addition, his passion for environmental conservation makes him a global leader. On the other hand, his leadership style has ensured that Virgin Group expands to different economic sectors and countries around the world. Ethics, character, and authentic transformational leadership behavior. Leadership Skills of Richard Branson. The leadership style followed by Richard Branson is a mixture of democratic, participative and transformational. 1. 2)ob^ 7I|BTzr|o\89 2ND_")=%1L_9 The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. << Securing team members commitment is a difficult task for most leaders, but the ability to allow new ideas, actions, and strategies boost loyalty. Richard Branson's Leadership Styles He has an informal leadership style, whereby the people he leads are to concentrate on the objective rather than how they look hence providing a lot of room for his employees to be innovative. According to the Forbes 2012 list of billionaires, Branson is the sixth richest citizen of the United Kingdom, with an estimated net worth of US$4.6 billion. After observing these traits, I would analyze them and draw conclusions. He told about his own leadership approach in that interview. Kedharnath, U. His views on company management and leadership are truly innovative and he is an entrepreneur who is constantly pushing the boundaries in his business ventures. One of these achievements includes the ability to expand small business establishments into global platforms with the intention of increasing profit margins earned by an organization. Attempts are made in his companies to keep a flat organization structure wherein employees work in clusters for the accomplishment of target goals and objectives. Leadership Theory, Application, Skill Development. /Filter [/FlateDecode] As part of the democratic leadership style, Richard Branson prefers to maintain healthy leader-member relationships. At Highrise, we understand that selecting a suitable leadership style is crucial to realizing positive outcomes. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. 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.. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. His risk taking and visionary nature will ensure that his companies explore sectors that other companies are afraid of exploring. Should this investigation give positive feedback, attempts are made to rekindle the hopes of employees through delegation of responsibilities. 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). Richard Brandson applies a participative leadership style. Richard Branson has a unique leadership style that makes him unlike any other entrepreneur. Organizational Behavior in a Global Context. /Subtype /TrueType . I make a point of employing people and teams who do what I cant do, or dont want to do, and bring positive energy and ultimately a sense of fun to the grueling hours, highs and lows.. I caught up with Sir Richard Branson, as he was releasing his latest book,The Virgin Way: Everything I Know AboutLeadership. Schawbel:What are your top three leadership principles? The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. The influence of leaders implicit followership theories on employee outcomes. 0 0 0 222 222 333 333 0 556]>> People like Richard Branson and Herb Kelleher, are more concerned about creating a winning team. 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. I would adopt an open and analytic approach in determining whether Bransons leadership is fit for me as a manager in the group. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. How to Wage War Against Implicit Bias in the Workplace? 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. /MaxWidth 2000 https://ivypanda.com/essays/leadership-style-of-richard-branson/, IvyPanda. This is IvyPanda's free database of academic paper samples. /Leading 150 If unchecked, this can lower morale and breed resentment. November 5, 2020 by Amy Campos. International Journal of Selection and Development, 9(2), 40-51. One of his most famous quotes truly sums up his philosophy of leadership: Clients do not come first. He embraces change, creativity, and innovation thus enabling his companies to grow and dominate in various sectors. I remember sitting next to him in the car on a Friday evening when he would take my brother and me to swimming. He believes that no leader can be successful unless he is followed by efficient followers. Richard Branson believes that a leader, being a team builder, should create teams or develop a cultural trend in an organization that will be suitable for all employees through reduction of disagreements. Role models possess a number of qualities such as caring for others and setting ample examples to the followers. 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.. This group's decision-making process gives room for the adoption of better ideas. You may opt-out by. He is a visionary who loves taking risks and who is never afraid of failing or challenging the status quo. GameStop undergoes makeover as 8 board members leave, Leadership and 10 Great Leaders from History. Leadership Style of Richard Branson. Sir Branson unique leadership styles and qualities that have fashioned him into the entrepreneur he is today. Richard Branson, CEO of the Virgin Group, perfectly embodies this democratic leadership style. The question is,How do you achieve the best skills to be a great leader and touch the success? Indeed, Bransons leadership is unique in several ways. Community college journal of research and practice(1066-8926), 36 (2), p. 67. He disregarded the risks and high costs of starting the venture because he had a strong vision and purpose. must. Web. ensure the integrity of our platform while keeping your private information safe. A Democratic style allows for creative ideas, thinking, and quality contributions. Richard Branson can easily learn about different types of personality and their expertise. 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. 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. What leadership qualities helped him to become this much successful? (2011). Its not surprising, then, that he never learned to fit into a specific style of leadership. Communication involves having an eye contact with listeners body movements (Hogan & Hogan, 2008). Transformational leaders are influential to their followers. Required fields are marked *. 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. He offers employees incentives such as training, high remuneration, a strong organizational culture, and vacations (Dearlove, 2007). Delegation of duties and responsibilities could be used to make employees feel more valued and important to the organization. /StemV 78 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). He has mastered the art of communication. IvyPanda. This can make the democratic process chaotic. Believes in Mentorship:Mentors are the great teachers. Branson management style and leadership skills were learnt in his day-to-day duties and interaction with people. >> The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. A leader can select a set of ideas or blend ideas together. 5 0 obj Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. Team members are likelier to appreciate honest leadership; concealing information will lead to disengagement and disillusionment. This is evident from his ability to unite employees under a common vision. Web. And that approach to leading people continues today. Democratic leadership style was first expounded by Kurt Lewin together with R.K white and R. Lippit when they identified three distinct leadership styles after a series of experiments. His perspective reframes these failures as learning opportunities that make individuals, teams, and businesses more successful. 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. While you almost certainly cannot duplicate Richard Bransons leadership style, you can learn from his approach to management. Work projects cannot be done within specific timelines due to multiple team members needing to work together. 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