The characteristics of the Democratic leader's style are as followers: Democratic leadership styles are practiced in businesses, governments, academic institutions, and home environments. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. At times when decisions are important, Richard Branson makes decisions by taking the right moves for the companys betterment. Richard knows it too well that a good idea emanates from all people irrespective of their status in the organization. Great leaders often identify with a given leadership style when leading group members. What type of leader is Richard Branson? /FirstChar 32 Therefore, he is able to break the hierarchical systems of communication. He likes to follow the SWOT strategy. 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. Web. Good leaders speak eloquently. In some ways, Branson is too flexible to fit into the visionary leader category. He believes that every day should bring joy. 6 0 obj Stiff competition and the unpredictability of financial markets are some of the reasons why many companies fail or achieve average success. All Rights Reserved. Instead, he forms collaborations with people who can help him reach goals. Listening is one of the most important skills that anyone can have. << He is a good listener who listens to employees and takes their opinions into account when making important organizational decisions. The Ability to Think Differently:Richard Branson believes in thinking different. When group members have delegated powers, it can inadvertently result in many centers of power. Communication is central to the success of the Virginia Group. Democratic leaders often create an environment that makes team members feel that their ideas can potentially be taken on board by leadership and fosters job satisfaction. (2019, June 17). December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. View Richard Branson and his leadership style.docx from PROJECT MA BULM 758B at University of Maryland. Opinions expressed by Forbes Contributors are their own. 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. Thats how Virgin is run. As a leader, you should always be listening. Richard Branson: Rule-breaker because I never learned the rules in the first place. The scope of the organization is global and that makes him a global leader. Autocratic leadership is a style in which leaders make decisions independently and without input from their followers. Good leaders always keep team members appraised of good and bad events within the organization. This article will answer the question: What is democratic leadership? Adaptability Skill: As a leader and entrepreneur, Richard Branson has the skill of adapting himself to an unknown environment. He likes to follow the SWOT strategy. StudyCorgi, 29 Dec. 2020, studycorgi.com/the-leadership-of-richard-branson/. There are no rules. /Encoding /WinAnsiEncoding /Type /FontDescriptor A companys workflow will be interrupted and output delayed with a democratic leadership style.. Peoples opinions are thus given the first priority. Mills, J., Bratton, J., & Forshaw, C. (2006). Instead, he allowed his employees to apply their innovative ideas to best deal with the various kinds of business situations. If you are the original creator of this paper and no longer wish to have it published on StudyCorgi, request the removal. Based on the current performance of a leader, individuals stand a better chance of predicting the kind of leader one would be in the future. /LastChar 121 He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. Role models possess a number of qualities such as caring for others and setting ample examples to the followers. 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. Branson: Im quite involved in hiring for leadership and I look to hire my weaknesses. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. Richard Branson, CEO of the Virgin Group, is another democratic leader who empowers his employees to reach his company's goals. He has a net worth of $4.6 billion and owns 400 companies under the name of Virgin. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. You can read Branson's blog or follow him on Twitter for more live updates from his extraordinary life @richardbranson. For example, he recruits anindividual person for individual jobs. This fact is particularly true when the purpose of leadership serves the functions of taping the potential of various employees to influence the success of an organization. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). ensure the integrity of our platform while keeping your private information safe. What is the best course of action when consensus is not realized. These hugely successful businessmen and women are focused on results and are more likely to use inclusive leadership styles. Richard Branson can easily learn about different types of personality and their expertise. Personality before CV. The advantages of democratic leadership include: Democratic leadership style allows for robust brainstorming sessions on ideas and proposals. This happens since democratic leadership relies on consensus. 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). While he might set a projects goal and offer his team guidance, he expects them to do the work required to get there. 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. What Virgin values most in its leaders today; the ability to show a genuine interest and duty of care for their teams. 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. /FontDescriptor 5 0 R 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. The Virgin Group gains competitive advantage through innovation and application of creativity in implementing business processes (Branson, 2014). 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. 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. Today,Branson's Pioneering Commercial Spaceflight Virgin Galactic announced a global partnership with Grey Goose Vodka. he mentioned himself as a collaborative and democratic person. Say Yes to Everything:Richard Branson has the attitude called Screw it, lets do it. Elements that characterize Bransons leadership include his ability to motivate employees, purpose, vision, perseverance, risk-taking, and readiness to delegate (Branson, 2014). Branson is a risk taker and a lover of challenges. You dont learn to walk by following rules. Richard Branson is an entrepreneur who is known for his unique approaches to leadership and the development of talented employees. Branson has been able to overcome these challenges by embracing innovation and change. (2020) 'The Leadership of Richard Branson'. Ive also become less of a talker and more of a listener, thanks to my dads advice and where possible, I always make myself accessible to the team, he says. Leadership Style of Richard Branson. He rewards people for excelling, but he also encourages people to turn their mistakes into learning opportunities. When he select a person for his business, he can do it very easily as he knows about different types of personality. Hogan, R., & Hogan, J. Skill of Understanding the Need of a New Business:Richard Branson understands the need of the new businesses. 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. When I set up Virgin Records, I even decided to separate myself physically from the company, by moving into a houseboat., Willingness to Listen and Learn:As a business leader, you need to listen and learn new things in every step. While talking with Forbes, he claimed that learning and leadership skills go hand in hand. He has introduced more than 400 companies. Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. endobj Sir Richard Branson is the sixth wealthiest citizen of the United Kingdom. StudyCorgi. 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. The Leadership Quarterly, 10(2), 181- 237. Yes, he always says Yes to almost everything. The majority rules, but the whole group feels included. 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. The commitment is about doing things differently. Some entrepreneurs have been influenced by other business leaders. Andrew Langat is an experienced content specialist in Leadership, Productivity, Education, Fintech, and Research. To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. He shares what he knows, but he also understands that people learn best from action. Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. Leadership Style of Richard Branson. Apart from incorporating different international standards and cultures into his business operations, he contributes towards the growth of the global economy. 2019. This perspective fuels his leadership style by making him an open-minded, social person willing to take risks. Business the Richard Branson Way: 10 Secrets of the WorldsGreatest Brand. My first business venture was Student magazine. Adaptability skill helped him to grow his business and fame faster. He therefore does not take for granted any idea from employees, business partners, strangers, or even friends. Many, many visions, actually. One of his most famous quotes truly sums up his philosophy of leadership: "Clients do not come first. 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. December 29, 2020. https://studycorgi.com/the-leadership-of-richard-branson/. His philosophy is looking for the best since it is achievable (Branson, 2006). This inadvertently can result in other team members feeling less appreciated. * Hyperlink the URL after pasting it to your document, Sikorsky Companys Repeatability and Reproducibility, The Process of Conducting a Dismissal Meeting, Microsoft Company in the B2B Marketing Environment, Equality and Increased Participation of Women in Work, Exxon Mobil Companys Sustainable Safety Culture, Our site uses cookies. 1. Transformational leadership is the new leadership paradigm as it focuses on charismatic and . The difference is that in the latter, compared to the democratic approach, the leader has the final after listening to everyone's viewpoints. You need to have current information about the industry and the organization as well. He prioritizes the personality over the educational background. /FontName /ArialMT Innovation is one of the sources of Virgin Groups competitive advantage. 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.. "Leadership Style of Richard Branson." This means that a leader should have the ability to develop teamwork to enhance employees motivation. 722 778 667 0 722 667 611 722 0 944 667 0 0 0 0 0 As outlined above, democratic leadership comes with its pros and cons. As a leader, one should be a team builder. Depending on your team members' skill levels, personalities, or education levels, you can opt to use different phases so that each member feels included. Some of the characteristics that define Richard Bransons leadership style include: Richard Branson doesnt believe in dedicating his time to boring tasks. Whether in a multinational or a small business, the leadership style selected should inspire and foster a harmonious working environment. Richard Branson is one of the most iconic figures in the world today. Web. 0 0 1015 667 667 722 722 667 611 778 722 278 500 667 556 833 His exceptional communication skills enable him to communicate the mission and vision of the group to employees of different companies. This means that they should be multicultural. Your submission has been received! 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. A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). Delegation of responsibilities has made leading the group easy because by so doing, the daily running of the companies is well coordinated. Therefore, innovation and creativity are part of his leadership. Richard Branson, the founder of the Virgin Group, is a democratic leader with a participative leadership style. /Length 2153 One of his most important leadership traits is vision. Richard Branson, CEO of the Virgin Group, perfectly embodies this democratic leadership style. In a way, Richard Branson is a laissez-faire leader because he believes in letting people learn from their mistakes. 6. He is a highly confident person. 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. Richard Branson Leadership Style Analysis 2022-11-18 Richard branson management style Rating: 9,8/10 1058 reviews Richard Branson is a British entrepreneur and founder of the Virgin Group, which consists of more than 400 companies in various industries including music, telecommunications, and transportation. 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. To look at what it is our customer wants, and what it is the industry needs, and to go in and exceed their expectations. While Branson doesnt fit into a specific category, his style does show characteristics of: Branson would likely laugh at any of these suggestions, but his decades of leadership speak for themselves. 8 0 obj June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. /Type /Font With More People Embracing Wellness, This Nutrition Influencer Decided To Scale Up Her Formerly One-Person Business. << /XHeight 519 /FontDescriptor 7 0 R Advantages. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. 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