Employee training and delegation of responsibilities are examples of ways that Branson is likely to use to motivate employees. << Yes, he always says Yes to almost everything. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. 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. He says: It was such a positive influence and I learned so much from him. When team members offer their opinions on a subject, members are likely to endorse the best-suggested views. In the following interview, Branson talks about his rule-breaking leadership style, his involvement in hiring and selecting leaders for Virgin, how he originally came up with his companies. He believes, people should be given freedom, and he acts accordingly. While he selects a person, he needs to select a perfect one. 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). He believes, people should be given freedom, and he acts accordingly. Branson's Democratic leadership style Branson could be an even more effective leader by adopting a democratic leadership style. /Encoding /WinAnsiEncoding In the following interview, Branson talks about his rule-breaking leadership style, his involvement in hiring and selecting leaders for Virgin, how he originally came up with his companies values and mission, and more. 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. His approach to business is also unique in the sense that he does not fear engaging in any business. Therefore, innovation and creativity are part of his leadership. He does, however, have a charismatic personality that gets other people excited about his ideas. In an interview with Telegraph, he said, I have always believed in the art of delegation finding the best possible people for Virgin and giving them the freedom and encouragement to flourish. 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.. November 5, 2020 by Amy Campos. Richard Branson can easily learn about different types of personality and their expertise. From this success, it is evident that his strategies of success can be deployed by organizations seeking to gain large growth through the utilization of employees as the source of competitive advantage. It's about being true to yourself, your ideas and focusing on the essentials." "As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation. Thats never been the Virgin approach. /CreationDate (D:20170824232610+05'30') Your email address will not be published. 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. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. Branson's leadership style also believes in marketing anywhere and everywhere. Lets go further and try one of the most comprehensive coaching experience with us. 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. Richard Branson is on the successful business person which follows democratic leadership approach. 722 778 667 778 722 667 611 722 667 944 0 667 611 0 0 0 On the other hand, their lack would lead to a conclusion that he is not a leader that I would like to work under. Great leaders often identify with a given leadership style when leading group members. Your privacy is extremely important to us. A Democratic leader encourages people to share ideas and hold up decisions to scrutiny to identify weaknesses and disadvantages., 7. %PDF-1.4 Richard Branson: Rule-breaker because I never learned the rules in the first place. Democratic Leadership Allows Efficiency in Problem Solving. /XHeight 519 At Virgin, Branson has created a channel of open communication whose aim is to connect the management with employees and streamline business processes. Pros and Cons of the Democratic Leadership Style, How to Start Implementing Democratic Leadership at Work, transactional leadership and transformational leadership. /Widths [ 278 333 0 0 0 0 0 0 333 333 0 0 0 333 Schawbel:How did you originally come up with Virgin's values, vision and mission and then find the right people who believed in you and the company? Kedharnath, U. For example, he doesnt have engineering experience to build airplanes. Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. 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. Bransons has aParticipativeorDemocraticstyle of leadership. 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. Community college journal of research and practice(1066-8926), 36 (2), p. 67. The ability to motivate employees is another aspect of Bransons success. /StemV 78 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. The majority rules, but the whole group feels included. (2019) 'Leadership Style of Richard Branson'. 8 0 obj professional specifically for you? /FontBBox [-665 -325 2000 1040] You dont learn to walk by following rules. Virgin Group owns about 400 companies. Branson, R. (2014). He believes in thelong-term relationship with people. The commitment is about doing things differently. 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. She says: Having worked for someone else for my entire working life until recently, I have witnessed the good, the bad and the downright ugly when it comes to leadership. 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. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. They have facilitated this growth in various ways. Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. /Length 2153 Richard Branson likes to help the people around him, but he isnt a servant leader. 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. 2. 0 0 0 0 0 0 0 1000 0 0 0 0 0 0 0 0 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. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. He thinks each person should be given responsibility according to his/her own interest and expertise. Communication is a vital ingredient for leaders. Passionate people find their way to the Virgin Group, and when they do, we snap them up and try to keep them within the family. 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. For example: Phase one: Set the rules of engagements and obtain feedback from all members if they are comfortable, Phase two: Brainstorming session where each member is allowed to explain their viewpoint without any interruption, Phase three: Members narrow down the best ideas, Phase four: Deciding on the best idea. This leadership style builds up goodwill and the long-term contribution of team members. "The Leadership of Richard Branson." Each person holds different types of leadership personality which make him successful. Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. 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. /Type /Font While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. (2019, June 17). Principle #1: Treat People As People. The leadership of Richard Branson has dramatically influenced the success of his Virgin Empire (Kinicki & Fugate, 2016, p.151). When team members know their input will be needed, they will likely improve their knowledge by spending additional time preparing to share their feedback, especially on tough decisions. New York: Penguin Publishing Group. Communication involves having an eye contact with listeners body movements (Hogan & Hogan, 2008). 2)ob^ 7I|BTzr|o\89 2ND_")=%1L_9 Being a business person, he is also an investor and philanthropist. It cultivates a culture of Best Ideas wins.. Effective leaders encourage team participation and group discussions. Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. Richard Branson is a British Business magnate and investor, best known as founder and chairman of Virgin Group. 'Branson values removing barriers in the corporate hierarchy . In such a situation, employees will be willing and eager to do jobs. Such an approach to organizational leadership best explains the approaches deployed by Richard Branson to succeed in the global domain. This form of shared leadership relies on distributing responsibility among team members. /FontBBox [-628 -376 2000 1056] StudyCorgi. Risk Taking Capability:One of the most risk taker investors is Richard Branson without any doubt. Organizational Behavior and Human Decision Processes, 7(5), 1-24. Borrowing from Richard Bransons leadership styles, another way for leaders to inspire their employees is by enhancing their confidence and encouraging growth. If you love what you do and if you believe in what you do, others will share your enthusiasm. He considers all his employees equal and allows them to give their feedback and suggestions on his management style. If I were to first characterize his leadership style I would say he is definitely a democratic leader. One of the advantages of training is that it confers additional knowledge and skills that are necessary for job promotion. He thinks each person should be given responsibility according to his/her own interest and expertise. Listening is one of the most important skills that anyone can have. 6fLHg(bMO\TX ,?$N|. Here, you will find all the ressources and inspiration you need to learn more about your management skills. Transformational leaders are influential to their followers. 17 June. Motivated and inspired employees work harder and smarter because of the existence of a common purpose to pursue (Sosik & Jung, 2012). /Filter [/FlateDecode] /FontDescriptor 7 0 R 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. 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. What everyone tells you never to do may just work, once. Depending on your team members' skill levels, personalities, or education levels, you can opt to use different phases so that each member feels included. Nevertheless, his charisma and situational leadership approaches make him a respected Briton. Opinions expressed by Forbes Contributors are their own. This post may contain affiliate links or links from our sponsors. ensure the integrity of our platform while keeping your private information safe. 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. After observing these traits, I would analyze them and draw conclusions. stream After all, the #1 stock is the cream of the crop, even when markets crash. By coping up with the new environment . He shares what he knows, but he also understands that people learn best from action. Veritone vs C3.AI: Which Is Better AI Stock. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. And that ability to engage with people and take them with him on the most. His inspiration for democratic leadership is that he never learned any rules in his business journey and gladly breaks the rules. Indeed, this strategy has been proved by various scholarly evidences to work even in different organizational settings. 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. Boosts Jobs satisfaction and motivation. 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.. Leadership comes in different flavors applied to meet goals. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. Web. Richard Branson compares his collaborative and democratic leadership style to the late co-founder Steve jobs, was famous for his autocratic style. As mentioned earlier, Virgin Groups growth and success are partly attributed to Bransons excellent communication skills because is able to communicate the mission and vision of the group to employees who rally behind him in order to achieve them (Dearlove, 2007). Autocratic leadership. "The Leadership of Richard Branson." /FirstChar 32 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. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. Your email address will not be published. His heart-warming approach unifies people and capitalism in a way Ive never seen attempted before. Being the founder of Virgin does not make one the most successful person rather adapt to the current times makes one a successful leader. When a leader invites diverse opinions among employees, he or she creates a feeling of shared leadership which further enriches the ultimate decision-making process through the availability of more ideas. Thats a very Virgin trait. Web. /FontName /Arial-BoldMT Why is the UN Studying Solar Radiation Modification? "Leadership Style of Richard Branson." 3. Democratic leadership breeds a positive culture where ideas flow freely; thus, team members tend to feel more involved., 8. Richard Branson is one of the most iconic figures in the world today. Since various management scholars have identified such approaches as influential in aiding an organization to remain competitive, it is anticipated that the Virginia Group will continue to succeed in the next five years by growing at a rate of10 percent annually. /LastChar 150 From his failures with Virgin Cola to his successes with Virgin Atlantic, Branson has embraced teams of experts and let them run the show as they see fit, which sometimes means letting them fail. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. 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