If I were to first characterize his leadership style I would say he is definitely a democratic leader. 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. From the student life, he has been commencing new companies. 6 0 obj 0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. Bass, B., & Steidlmeier, P. (2009). 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. 556 556 556 556 333 500 278 556 500 722 500 500 500 0 0 0 Opinions expressed by Forbes Contributors are their own. We want the opposite of the entrepreneurial stereotype, who will step over people to get where they want to in life, says Branson. New York: Penguin Publishing Group. One leadership style that is popular and often works well is Democratic leadership. Richard Branson (Photo credit: BBC) Do they favor brainstorming before making decisions? He considers all his employees equal and allows them to give their feedback and suggestions on his management style. /Type /Font Listening enables us to learn from each other, from the marketplace, and from the mistake that must be made in order to get anywhere that is original and disruptive. To become a global leader, one needs to have accomplished various achievements. "Leadership Style of Richard Branson." And he is very much confident about making this kind of decisions. 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. 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. Communication is a vital ingredient for leaders. Bransons has aParticipativeorDemocraticstyle of leadership. He does this through engaging his employees in direct conversations. Kedharnath, U. This stuck with me and has certainly influenced my leadership style. You may opt-out by. Richard Branson believes in thinking different. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. 0 0 0 556 611 556 611 556 333 611 611 278 0 556 278 889 11 Most common leadership styles. As a leader, your onus is to analyze your team and see if this leadership style will deliver your objective and add value to the decision-making process. As this style entails getting feedback from your team, you should inform them of your decision to use this approach. And his book, "The Virgin Way: Everything I Know. Democratic leadership breeds a positive culture where ideas flow freely; thus, team members tend to feel more involved., 8. Democratic leadership style, by its very nature, prioritizes honesty, so using this style of leadership brings in all the advantages of openness between a leader and team members. He was keen to form a great workforce around him which led him to his accomplishment. endobj Executive Summary Leadership play important role in each and every organization. A person who has multiple degrees in your field isnt always better than someone with broad experience and a wonderful personality. StudyCorgi. This would help me to determine his leadership style and priorities. The Leadership of Richard Branson. 1. The main leadership styles applied today include , Autocratic leadership, Democratic leadership, Delegative leadership, Servant leadership, laissez-faire leadership, transactional leadership and transformational leadership, A leader may opt for a technique based on prevailing leadership and management culture, nature of work, mentoring, or after attending executive coaching programs.. For example, he doesnt have engineering experience to build airplanes. professional specifically for you? He encourages consensus among senior managers and favors delegation and more autonomy.. By showing his appreciation for hard work, he keeps everyone focused on their tasks. You may opt-out by. As the founder of Virgin Group, Sir Richard Branson demonstrated a leadership style influenced by how his team members should be treated. 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. Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. Your submission has been received! Named after the governmental system, the democratic leadership style is focused on bringing employee voices to the table while creating a unified business framework. Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. Any organization employing people from diverse backgrounds recognizes the fact that people are the most important assets for attaining success in the long-term. 3. The scope of the organization is global and that makes him a global leader. They have the ability to listen to their employees. While managers strive to compel, leaders such as Richard Branson attempt to influence in the effort to make things done his way. "The Leadership of Richard Branson." Web. He is well known for his. 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. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). Such a culture is detrimental to the long-term success of an organization or company. Leaked tax return reveals secret to pocketing $460,164 George Soross Most Undervalued Holding Is Surprising. He is an English businessman and a venture capitalist. Why is the UN Studying Solar Radiation Modification? If you arent proud of what youre doing, why should anybody else be?, I was dyslexic, I had no understanding of schoolwork whatsoever. IvyPanda, 17 June 2019, ivypanda.com/essays/leadership-style-of-richard-branson/. 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. Here are the 11 most common leadership styles. 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. And that ability to engage with people and take them with him on the most challenging of business journeys he says is down to his mother, Eve Branson. Schawbel:What are your top three leadership principles? /LastChar 121 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. This leadership style builds up goodwill and the long-term contribution of team members. On the other hand, his leadership style has ensured that Virgin Group expands to different economic sectors and countries around the world. 722 778 667 778 722 667 611 722 667 944 0 667 611 0 0 0 References: See areas of improvement for correction for a better outcome in subsequent meetings.. While he selects a person, he needs to select a perfect one. This perspective fuels his leadership style by making him an open-minded, social person willing to take risks. Their presence would tell me that he is a good leader that I would work under. student. 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. 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. This paper was written and submitted to our database by a student to assist your with your own studies. Grasmick, L. (2012). Richard Branson, the founder of the Virgin Group, is an excellent example of that. Career advancement is an important aspect in the professional lives of many employees. This report on Leadership Style of Richard Branson was written and submitted by your fellow He believes that every day should bring joy. Lets go further and try one of the most comprehensive coaching experience with us. When he select a person for his business, he can do it very easily as he knows about different types of personality. Good leaders always keep team members appraised of good and bad events within the organization. Community college journal of research and practice(1066-8926), 36 (2), p. 67. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. While he was struggling to have the Virgin Atlantic off the ground, he asked Sir Freddie Laker (The British Airline Entrepreneur) for guidelines. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. Richard Brandson applies a participative leadership style. The Ability to Think Differently:Richard Branson believes in thinking different. 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. /Ascent 905 Therefore, innovation and creativity are part of his leadership. Organizational Behavior in a Global Context. 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. As the founder of the Virgin Group, he has earned respect as an employer who has helped thousands of people to become innovative thinkers. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. His ability to inspire, motivate, and serve are based on his excellent communication skills (Dearlove, 2007). 2019. He therefore does not take for granted any idea from employees, business partners, strangers, or even friends. Leadership Style of Richard Branson. What everyone tells you never to do may just work, once. Laughter: My number one rule in business, and in life, is to enjoy what you do. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). Share your email with us and we'll share some examples. Save my name, email, and website in this browser for the next time I comment. Democratic leadership can be defined as the performance of three functions: distributing responsibility among the membership, empowering group members, and aiding the group 's decision-making process (Gastil, 1994). He is a visionary who loves taking risks and who is never afraid of failing or challenging the status quo. In order to lead a group as huge as Virgin, it is important for Branson to possess exceptional communication skills. His democratic style of leadership is characterized by traits such as charisma, perseverance, purpose, self-awareness, and open-mindedness (Dearlove, 2007). Therefore he carefully hires the employees for his team and stays in contact with them so that their views and thoughts can be utilized to bring improvement and innovative ideas in action. 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). Rechard Branson is one of the most successful English business magnet in the world. At Highrise, we understand that selecting a suitable leadership style is crucial to realizing positive outcomes. Walt Disney A Transformational and Charismatic Leader, Emmeline Pankhurst A Transformational Leader, Mentoring, Coaching & Professional Learning, Foundation for great customer care: Employees first, customers second., Participative Leadership: Perspectives of Community College Presidents. As a leader, you should always be listening. 3. /Producer (PDF-XChange Printer 2012 \(5.5 build 311\) [Windows 8 Enterprise x64 \(Build 9200\)]) Democratic Leadership can Lead to a Culture of not Taking Responsibility. Richard Branson can easily learn about different types of personality and their expertise. /MaxWidth 2000 In this line of argument, Richard Branson considers leadership as a means of making things happen because they are planned to happen. 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). 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. 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.. This article will answer the question: What is democratic leadership? One of his most important leadership traits is vision. While this has some advantages, it can slow down decision-making, especially with communication failures. 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