He likes to follow the SWOT strategy. Hogan, R., & Hogan, J. Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. (2008). Recently, he has launched his new idea commercial space traveling. One leadership style that is popular and often works well is Democratic leadership. What everyone tells you never to do may just work, once. Oops! 3 0 obj Organizational Behavior and Human Decision Processes, 7(5), 1-24. Thats how Virgin is run. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. 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.. The question is,How do you achieve the best skills to be a great leader and touch the success? You dont learn to walk by following rules. Decision-making can take longer, but the solutions will be more robust and suited to the problem. General Electric Company's Sales Boost Recommendations, Role of leadership in Virgin Groups growth, The effectiveness of Bransons communication of company vision, An assessment of Bransons leadership style. What Might That Mean For The Economy? His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. While hiring, at first he checks the weakness of that person. 278 0 0 0 0 0 0 0 0 0 0 0 333 0 0 0 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. Richard Branson is absolutely a transformational leader. Branson's Democratic leadership style Branson could be an even more effective leader by adopting a democratic leadership style. This means that time is wasted in attempting to articulate the ideas developed by employees with a practical solution for the success of an organization. StudyCorgi. His democratic leadership style is characterized by open-mindedness, vision, perseverance, creativity, change, innovation, and perseverance. Instead, his leadership style comes from his personality and learning from his own mistakes. I also think its vital to quickly understand peoples strengths and weaknesses and determine how they fit and complement your own, adds Fuller. Branson constantly looks for such ways and evaluates them critically to determine whether they can help to drive success of his line of business. Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. , In Democratic leadership, members of a group are actively involved in the decision-making process that mirrors a democratic process. Richard Brandson applies transformational leadership. This is IvyPanda's free database of academic paper samples. This would help me to determine his leadership style and priorities. He believes that giving freedom in decision making could help the employees to perform at their best and with full responsibility. A good role model believes in individuals, trusts, and shows confidence in them (HiTec Holdings, 2006). He shares what he knows, but he also understands that people learn best from action. 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. /FontDescriptor 5 0 R As part of the democratic leadership style, Richard Branson prefers to maintain healthy leader-member relationships. As a leader, he wants people to feel the same way, so he motivates them to become the best versions of themselves. 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. 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. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. . Most people want to be listened to and appreciated at work, and focusing on these attributes as a leader will work better for everyone in the long run.. 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. He has a collaborative management approach that empowers his employees to reach the goals of the organization. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. 0 0 0 556 556 500 556 556 278 556 556 222 222 500 222 833 "Leadership Style of Richard Branson." It recently won a Queens Award in International Trade. 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.. Transformational leaders are influential to their followers. Its about being true to yourself, your ideas and focusing on the essentials., A passionate belief in your business and personal objectives can make all the difference between success and failure. And he is very much confident about making this kind of decisions. As the founder of Virgin Group, Sir Richard Branson demonstrated a leadership style influenced by how his team members should be treated. His approach to business is also unique in the sense that he does not fear engaging in any business. 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. Only the best people can reach the highest point of the career path as competition for the leadership jobs became very very competitive. This post discusses the leadership skills and qualities of Richard Branson that helped him achieve success. I certainly would have failed IQ tests. /Type /Font 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.. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. Later he started his own Airways service Virgin Airways. What did you learn from them early on that helped you develop your branding strategy? Branson management style and leadership skills were learnt in his day-to-day duties and interaction with people. 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. Branson is a risk taker and a lover of challenges. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. And that approach to leading people continues today. Branson:Researching the competition has never been the Virgin way. He has confidence in his own work. Good leaders always keep team members appraised of good and bad events within the organization. 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. Improves motivation and morale; Performance improves due to greater ownership for all team members (2019, June 17). His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. "The Leadership of Richard Branson." 0 0 0 222 222 333 333 0 556]>> Richard Branson is directly involved in the process of hiring new employees in his organization. IvyPanda. Profiles of leadership. And his book, "The Virgin Way: Everything I Know. 0 0 1015 667 667 722 722 667 611 778 722 278 500 667 556 833 A leader can select a set of ideas or blend ideas together. At Highrise, we understand that selecting a suitable leadership style is crucial to realizing positive outcomes. 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. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. Career advancement is an important aspect in the professional lives of many employees. For instance, a good role model is one with hopeful wishes and confident. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. After observing these traits, I would analyze them and draw conclusions. Employees are expected to be active participants and governance relies on team building, communication, consensus, autonomy, commitment and balance. He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. Its the greatest thrill in the world and it runs away screaming at the first sight of bullet points., For a successful entrepreneur it can mean extreme wealth. He believes that quality content should be actionable and helpful. Connect with him onLinkedIn. Strong leadership skills are vital for founders of growing businesses. << IvyPanda. 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). You are free to use it to write your own assignment, however you must reference it properly. This post may contain affiliate links or links from our sponsors. They are good at listening to others ideas and opinions. /AvgWidth 441 What qualities do you look for in new leaders and what qualities are your biggest turnoffs? International Journal of Selection and Development, 9(2), 40-51. 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. 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. (2019, June 17). %PDF-1.4 He is a global leader because of his impact on the global economy and his efforts to bring peace in the world. 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. To look at what it is our customer wants, and what it is the industry needs, and to go in and exceed their expectations. Slow Decision-Making process: Slow decision-making is intrinsic to democratic leadership. For instance, Hogan and Hogan (2008) argue that, when monetary rewards cease from being sources of motivation, organization consider delegation of responsibilities as a means of keeping employees motivated (p.43). Your submission has been received! Its done on gut feeling, especially if I can see that they are taking the mickey out of the consumer., Business opportunities are like buses, theres always another one coming.. With the helps to this business firm make motivated to their employees for giving better performances. In some ways, Branson is too flexible to fit into the visionary leader category. 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. 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. /MissingWidth 278 >> While he selects a person, he needs to select a perfect one. He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. /Subtype /TrueType Ethics, character, and authentic transformational leadership behavior. Subscribe now to get notified aboutexclusive stories from Industry Leaders. 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$4.6 billion. According to Dearlove (2007), leadership is the ability of an individual to persuade, influence, motivate, empower, and influence a group of people in order to achieve certain results using specific strategies. x}X6WHF`~XK,{}|M g/v=ap$*+38"Mne]2DR2k'2w'ZQTCQm`S"S|a"dZEihY0hx$ (x;q TA0e0Nta\o9/&L["gq_]8Bi-,t}%%r2E**3~5\`VL$IA(bT&" Richard Branson applies a democratic leadership style. 1. His ability to motivate and inspire employees has contributed significantly towards creating teams that are the foundation of the groups growth. You are free to use it for research and reference purposes in order to write your own paper; however, you Too much credit goes to me for what we have achieved at Virgin but the successes happen from working and learning with some of the worlds most inspiring and inspired people. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. 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. As a leader, one should be a team builder. This means that Richard Branson communicates his vision of business to all people in the effort to garner their views. al, 2006). Such an approach to organizational leadership best explains the approaches deployed by Richard Branson to succeed in the global domain. He never applied any stringent rules in the workplace. Dearlove, D. (2007). It cultivates a culture of Best Ideas wins.. These incentives encourage team work and as such increase productivity, performance, and employee retention rates. Our strategy has been to screw business as usual. When team members offer their opinions on a subject, members are likely to endorse the best-suggested views. If I were to first characterize his leadership style I would say he is definitely a democratic leader. 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. Facebook to Acquire the Waze App for $1BN? November 5, 2020 by Amy Campos. Virgin founder Richard Branson is as famous for being an inspirational leader as he is for being a daredevil. You need to have current information about the industry and the organization as well. Leaked tax return reveals secret to pocketing $460,164 George Soross Most Undervalued Holding Is Surprising. 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. The Virgin Group is one of the worlds most recognized and respected brands, with over 400 companies. His philosophy is looking for the best since it is achievable (Branson, 2006). Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. 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. This way Richard Brandson applies the democratic, participative and transformational style of leadership so that the efforts of all employees can be aligned towards the accomplishment of preset target goals and objectives meant to achieve long term target goals for the organization. His risk taking and visionary nature will ensure that his companies explore sectors that other companies are afraid of exploring. First, I would observe and analyze his style of communication, decision making, problem solving, readiness to focus on organizational goals, and treatment of employees. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. The author has no position in any of the stocks mentioned. This quote is explained further in the following article: Foundation for great customer care: Employees first, customers second. (Kavchik, I, 2017). He says: It was such a positive influence and I learned so much from him. Richard Branson also believes that giving ample attention to what his people think helps the Virginia group to move to the next business level. Full Range Leadership. IvyPanda. Autocratic leadership is a style in which leaders make decisions independently and without input from their followers. His exceptional communication skills enable him to communicate the mission and vision of the group to employees of different companies. Bransons has aParticipativeorDemocraticstyle of leadership. He dumps problems quickly by giving proper solutions so that he wont miss any opportunity to grab in. This enables him to collect feedback and opinions from employees. 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