However, soliciting opinions, strategies, or other types of input could make a leader appear indecisive and lacking the necessary knowledge. This refers to a highly interactive style of leadership where employees are motivated and empowered to reach the goals of the organisation (Grasmick, 2012). 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. According to Richard Branson, leadership plays various roles within his organization. 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. Bransons has aParticipativeorDemocraticstyle of leadership. You learn by doing, and by falling over, and its because you fall over that you learn to save yourself from falling over. Yes, he always says Yes to almost everything. 278 278 556 556 556 556 556 556 556 556 556 556 278 278 0 0 June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. /StemV 78 This means that a leader should have the ability to develop teamwork to enhance employees motivation. 3. Virgin Group owns about 400 companies. Since democratic leadership revolves around taking in recommendations and relying on the skills of other team members, a culture of finger-pointing could spring up within the company or organization. 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.. Finally, delegating duties will give him more time to do other things that will make him a better leader. 17 June. endobj Richard Brandson is also people-oriented and considers that teamwork is important for the accomplishment of goals and sustenance of business in the long run. Andrew Langat is an experienced content specialist in Leadership, Productivity, Education, Fintech, and Research. Are those extraordinary qualities or general? 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&" These incentives encourage team work and as such increase productivity, performance, and employee retention rates. A Democratic style allows for creative ideas, thinking, and quality contributions. 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. 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. Instead, he allowed his employees to apply their innovative ideas to best deal with the various kinds of business situations. Job promotion is one of the ways that employees use to get higher remuneration (Mills et. Apart from behavioral skills, communication skills constitute one of the attributes that a leader must possess. Richard Branson is one of the most iconic figures in the world today. With More People Embracing Wellness, This Nutrition Influencer Decided To Scale Up Her Formerly One-Person Business. StudyCorgi. /AvgWidth 479 Listening is one of the most important skills that anyone can have. While he rolls with the punches better than most visionary leaders, he does have high expectations. Here, you will find all the ressources and inspiration you need to learn more about your management skills. /Flags 32 In addition, more skills increase the availability and accessibility of opportunities in the labor market. 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. (2008). While hiring, at first he checks the weakness of that person. Bass, B., & Steidlmeier, P. (2009). Retrieved from https://studycorgi.com/the-leadership-of-richard-branson/, StudyCorgi. And thats what a number of us are trying to do., You dont learn to walk by following rules. For example, he recruits anindividual person for individual jobs. 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. Leadership style of Richard Branson For this report, a leader has been selected and the selected leader is Richard Branson. Schawbel:What is your process for selecting leaders at Virgin? These are piloting, direct, scheduling, and managing (Lussier & Achua, 2004). Branson has been able to overcome these challenges by embracing innovation and change. This is IvyPanda's free database of academic paper samples. The group has grown rapidly because of his exceptional leadership to include more than 400 companies that operate in different economic sectors. This venture was followed by a mail-order record business that gave birth to Virgin Records. Famously this came back to bite him during his infamous balloon trip that led to his partner, Per Lindstrand, jumping into the ocean and nearly drowning. Communication is central to the success of the Virginia Group. Instead, he coaches his executives, managers, and employees to become better, more effective people. 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. 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. By showing his appreciation for hard work, he keeps everyone focused on their tasks. He believes, people should be given freedom, and he acts accordingly. Executive Summary Leadership play important role in each and every organization. Is New Business Creation Still Setting Records? Therefore, it is necessary for organizations to offer employees opportunities to advance their careers. After a review of a team members input, the leader makes the final decision, often taking the majority view. Two heads are better than one. He was born in the year of 1950. Thats how Virgin is run. By coping up with the new environment . Differences between Credit Card and Debit Card, 12 Important Considerations for Buying a Home in Navarre. . 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. 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. Dearlove, D. (2007). He applies an adapting approach towards the organizational cultures and therefore allows his employees to develop formal and informal relations. And his book, "The Virgin Way: Everything I Know. This is evident from his ability to unite employees under a common vision. First, his companies employ people from different cultures and ethnicities and his businesses operate in different countries around the world (Sosik & Jung, 2012). /CapHeight 716 StudyCorgi. Branson, R. (2014). /Ascent 905 Whether in a multinational or a small business, the leadership style selected should inspire and foster a harmonious working environment. Main body To begin with, if one tries to classify his management style, it would undoubtedly be a democratic manner. And he is very much confident about making this kind of decisions. Democratic leadership style also comes with its fair share of disadvantages, this includes: 1. It Can Lead to Team Members Doubting the Capabilities of the Leader, A leader has to be respected by team members to be effective. The abovementioned leadership elements have been monumental in promoting the growth of Virgin Group. It cultivates a culture of Best Ideas wins.. A role model is someone whose traits or achievements others can admire (Hogan & Hogan, 2008). He is a highly confident person. Democratic leadership works best when applied in certain situations. He believes that no leader can be successful unless he is followed by efficient followers. The paper discusses Richard Bransons leadership styles and skills and their impact on Virgin group of Companies. 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. Stiff competition and the unpredictability of financial markets are some of the reasons why many companies fail or achieve average success. 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 process also tells people who are interested of this company that the company prefers the people who are passionate and have leadership skills. Few of his renounced projects are Youth culture magazine The Student, Virgin Airways, Virgin Records, and Virgin Radio. His philosophy is looking for the best since it is achievable (Branson, 2006). 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. a) A democratic leadership style is exhibited by Richard Branson. When group members have delegated powers, it can inadvertently result in many centers of power. /MaxWidth 2000 To forestall pitfalls associated with this approach, ask questions such as: How you organize the approach is as important as the outcome. In this end, Richard Branson has managed to embrace incredible motivational skills, which have realized immense increase in productivity of his Virginia Group of businesses. Nevertheless, his charisma and situational leadership approaches make him a respected Briton. Veritone vs C3.AI: Which Is Better AI Stock. 2. % This helps employees to align their goals with those of the group (Sosik & Jung, 2012). Is It Time To Change Director Board Compensation In Private Real Estate Firms? 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. 2020. Need a custom Report sample written from scratch by Democratic Leadership Allows Efficiency in Problem Solving. He moves to the new solutions each time there is a problem. 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. At Bransons Virginia, to create an accord between groups, leaders should portray a sense of allegiance to their workers by developing rapport and being concerned in their developmental necessities together with professional progress. 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.. When I set up Virgin Records, I even decided to separate myself physically from the company, by moving into a houseboat., As a business leader, you need to listen and learn new things in every step. June 17, 2019. https://ivypanda.com/essays/leadership-style-of-richard-branson/. Branson is a risk taker and a lover of challenges. He told about his own leadership approach in that interview. ensure the integrity of our platform while keeping your private information safe. His democratic style of leadership is characterized by traits such as charisma, perseverance, purpose, self-awareness, and open-mindedness (Dearlove, 2007). And that ability to engage with people and take them with him on the most. He searches for the best person for a specific type of joband recruits him/her. 0 0 0 556 611 556 611 556 333 611 611 278 0 556 278 889 Its not surprising, then, that he never learned to fit into a specific style of leadership. It also ensures that people abide by values that encourage growth of an organization through integration of organizational behavior. Autocratic leadership. Consequently, his leadership models lack aspects of risk management. /Leading 150 Inclusive leadership promotes employee engagement, increases job satisfaction, promotes innovative ideas, and ensures that the leader retains authority. Id hear how he rewarded good staff, gave credit and thanks, empowered people by helping them to develop as leaders themselves, and encouraged them to learn from their mistakes.. 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