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. Many, many visions, actually. 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. 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. this process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. Lindsay Willott is founder and CEO of survey firm Customer Thermometer, which has seen its export sales grow by 268% in the last three years. 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. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). 2023 Industry Leaders Magazine. 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. The question is,How do you achieve the best skills to be a great leader and touch the success? /Ascent 905 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. Kedharnath, U. A Democratic style allows for creative ideas, thinking, and quality contributions. What Might That Mean For The Economy? This has given leverage to employees to apply their best judgment. They are good at listening to others ideas and opinions. Leadership Style of Richard Branson. Richard Branson believes in the delegation of authority. He believes that quality content should be actionable and helpful. For example, he doesnt have engineering experience to build airplanes. Lussier, R., & Achua, C. (2004). Lets go further and try one of the most comprehensive coaching experience with us. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. This post discusses the leadership skills and qualities of Richard Branson that helped him achieve success. An example of Bransons visionary leadership is Virgin Galactic that was started to explore the untapped field of space tourism. From the student life, he has been commencing new companies. must. (2020, December 29). Branson has been able to overcome these challenges by embracing innovation and change. The Leadership of Richard Branson. In an interview with Telegraph, he mentioned that thinking differently can set a person apart. /XHeight 519 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. (2008). 6 0 obj Richard Branson is an entrepreneur who is known for his unique approaches to leadership and the development of talented employees. 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. 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. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. The Ability to Delegate:Richard Branson believes in thedelegation. /MissingWidth 278 After observing these traits, I would analyze them and draw conclusions. Scott says: Just to clarify, I wasn't working as a cleaner, I was a lifeguard, but my boss went on to explain how he would never ask me to do something he hadn't done himself. /CapHeight 716 endobj /XHeight 519 He doesnt expect everything to fall into place the first time, though. Disclaimer: Services provided by StudyCorgi are to be used for research purposes only. In some ways, Branson is too flexible to fit into the visionary leader category. Indeed, Bransons leadership is unique in several ways. 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. He likes to follow the SWOT strategy. (2019, June 17). /CapHeight 716 The Virgin Group is one of the worlds most recognized and respected brands, with over 400 companies. He says: It was such a positive influence and I learned so much from him. He does this through engaging his employees in direct conversations. From his student life, he has been taking different initiative in the field of business as an entrepreneur and became successful. And it was one of the reasons I left school when I was 15 years old. StudyCorgi. Moreover, he is able to communicate the visions of different companies, find and connect with suitable individuals to run businesses, and make decisions that foster growth and development. He encourages consensus among senior managers and favors delegation and more autonomy.. 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 truly feels that getting other peoples input and listening to what. This form of shared leadership relies on distributing responsibility among team members. ensure the integrity of our platform while keeping your private information safe. Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. His heart-warming approach unifies people and capitalism in a way Ive never seen attempted before. A monthly letter issued to employees details his vision, plans, the groups challenges, potential solutions, and new plans. According to his leadership philosophy, people will fail when they try new things. Richard Branson is a leader with a vision. 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. With the helps to this business firm make motivated to their employees for giving better performances. Be visible, note down what you hear and youll be surprised how much you learn, Richard Branson advised. At Highrise, we understand that selecting a suitable leadership style is crucial to realizing positive outcomes. 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. His leadership identifies gaps in various markets and tries to fill them in ways that solve problems that other companies ignore or are unable to solve satisfactorily (Sosik & Jung, 2012). Branson is likely to use this strategy to motivate employees and increase their value to his organization. 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. What works once may never work again. Good leaders always keep team members appraised of good and bad events within the organization. Richard Branson (Photo credit: BBC) The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. One of his most important leadership traits is vision. Instead, he forms collaborations with people who can help him reach goals. As an organization, the Virgin Group has been of great interest to the public and business experts worldwide, especially given Richard Branson's creative leadership style in running and growing the enterprise. Few people, however, stand out like Richard Branson, the adventurer, author, and founder of the Virgin Group. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. Leadership Style of Richard Branson. I would look for certain traits that include honesty, creativity, humility, trust, ambition, and ability to embrace change as well as his willingness to listen attentively to people. 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. Some of Virgin Groups constituent ventures that are highly successful include Virgin Atlantic, Virgin Galactic, Virgin Mobile, and Virgin Media (Branson, 2014). This is IvyPanda's free database of academic paper samples. Leadership Skills of Richard Branson. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. If I ever said anything ill about somebody as a kid, she would send me to stand in front of the mirror for 10 minutes because she said it reflected so badly on me, and this has always stayed with me. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. Thank you! /LastChar 150 Web. From the student life, he has been commencing new companies. /Leading 150 The scope of the organization is global and that makes him a global leader. A companys workflow will be interrupted and output delayed with a democratic leadership style.. Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. 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 is evident from his ability to unite employees under a common vision. /Filter [/FlateDecode] This skill is one of the most important leadership skills of him to pave the way to achieving success in the world of business. 0 0 0 222 222 333 333 0 556]>> /FirstChar 32 As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. " Walk the floor, get to know your people ," Branson urged. This means that Richard Branson communicates his vision of business to all people in the effort to garner their views. Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. Strong leadership skills are vital for founders of growing businesses. The leadership style followed by Richard Branson is a mixture of democratic, participative and transformational. Favors delegation and more autonomy the most comprehensive coaching experience with us founder... 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