Leadership Style of Richard Branson - Assignment Example

Management Leadership style of Richard Branson Branson is frequently considered as a dynamic yet a colorful entrepreneuralways on everybody’s mind in one way or another. There are those who look upon him for his lavish lifestyle that comes with big fortunes while others talk of his outspoken lifestyle particularly at work whereas still many people admire him for his successful Virgin brand. This paper will particularly focus on Branson’s characteristics as well as his leadership style. Branson’s Virgin group is a fast growing one and comprises of a wide range of businesses spanning from airlines to mobile phones, from bridal wear to pension plans and most significantly music. Actually, most likely, the Virgin Group may be the only brand globally that transcends such a big range of services and products. The important feature to note is that the Virgin brand with its assorted businesses has grown to be stronger on embracing diversification instead of being diluted. In fact, Virgin is referred to as the inexpensive, innovative, cool option to the rest of the key players. At present, more than just a businessperson who is a successful, Branson is the symbolic leader especially for startup entrepreneurs. Branson’s cheeky attitude, innovative methods as well as multi-colored advertising concepts aimed at attracting the masses, makes him stand out like a corporate champion with popularity akin to that of a super star. Although, Branson has experienced failures numerous times, his endeavors, to overcome them have grabbed the attention of people at all times. From such events as those pertaining his pitfalls and success while establishing his brand, a lot can be learnt about his leadership style. Although other entrepreneurs might get entangled in corporate wrangles, Branson takes his challenges in business as a campaign. Branson takes pride in himself by challenging big companies to provide his customers better value for their money. For example, the moment Virgin ventured the market, people already were feeling that they were not being treated fairly and his offerings of better value placed Virgin steadfastly on the side of customers. Thus, whereas some entrepreneurs may look at the strength of market players and think otherwise, Branson is a firm believer in taking on the main players and succeeding. In addition, the unconventional attitude and informal style of Branson has made him famous with his attraction to the hippie movement, especially of the 60s, basically shows his affinity for being in sync with the mood of the times. In fact, this is amongst the greatest business features of Branson and permits him to exhibit the Virgin brand as an alternative that is cool. Additionally, Branson’s motivation is not in money and although money measures success, for Branson, the challenge is in the excitement. Whereas retention of employee has of late become an issue, Virgin employees do not mind their compensation which is a bit less than the rates offered in the market because they are excited working for Virgin in addition to enjoying being in the team (Feloni, 2014). As a matter of fact, the leadership style of Branson places the interest of Virgin first even if it implies depicting himself as foolish such as when taking the role of a flight attendant, endangering his life flying a hot-air balloon or wearing a pirate costume, Sir Branson does not run away from the spotlight. Indeed, Branson knows how to attract attention. His leadership style can also be identified in his numerous speeches at different occasions. Branson comes about inspiring and motivating people the way an individual would speak while addressing instead of reading lengthy serious formal speeches. Thus, this not only acts as an inspiration to the people but also ensures that they are at home being part of the Virgin household. Branson in many of his numerous public meetings addresses people saying that, “Life is an adventure….life is fun.” Virgin being a fast-growing entrepreneurial company has many facets and requires unique aspects of Branson’s leadership style to steer a multifaceted organization such as Virgin. With over 400 companies within the Virgin brand it would be difficult for Branson to be a hands-on leader of each company. One of Branson’s most essential leadership qualities is not anticipating his employees to follow along blindly but providing them with liberty to freely imagine as well as freedom to come up with creative ideas. Branson manages this by being the most passionate party animal. This characteristic of Branson’s philosophy exhilarates, challenges, and most importantly moves Virgin employees. Instead of allowing Virgin companies expand forever, Branson believes in keeping the company manageable. Thus, whenever a company within the Virgin Group attains a certain size, Branson will call all the assistant managers aside and inform them that they are now responsible for a new business /company. This promote from within policy encourages Virgin staff to do their very best hoping that they will be accorded a chance to showcase their talent and all is well, Branson usually takes a step back. Branson views leadership as an art similar to conducting an orchestra as opposed to directing an army. Thus, one of the greatest characteristics of Branson is initiating a project and afterwards stepping aside and allowing others to step in and take control (Schawbel, 2014). However, there is another feature to Branson’s leadership style. Thus whenever a chance arises, Branson usually acts with record-breaking pace and fully utilizes it. Many management gurus are purely stunned by his speed that his large organization acts with. For instance, Virgin Atlantic Airways came into being only 5 months after the idea was conceived. The Virgin’s groups financial services company (Virgin Direct) was up and operating barely 5 months after inception. It would take like at least 2 to 3 years for other companies to arrive at a decision and start implementing the concept. Branson therefore depends on his business gut feelings and does not waste precious time attempting to convince his managers that his latest brainwave is a concept worth embracing but instead starts and builds the wave in itself by implementing it and therefore justifying it (Schawbel, 2014). At present the Virgin Group has organically grown and the leadership of Branson aims at establishing new companies for purposes of expansion. Whereas most of companies are obsessed with the size of their businesses, Branson desires to keep his company small. Branson’s company retains its distinctive speed and energy since it capitalizes on its employees’ entrepreneurial spirit while at the same reducing bureaucracy especially in its systems. Consequently, the human dynamo (Branson), at the middle of the Virgin experience, is frequently churning out new ideas; with the virgin employees reviewing around 4 new projects at any given time. However as soon as Branson has discussed the project ,it can be off the hook in a few months .Thus, Branson fully concentrates on the new venture for the beginning 3 months ,backs off and usually keeps checking after every 6 months or so with the only exception being Virgin Atlantic Airways (Feloni, 2014). Branson uses a number of techniques in motivating his employees so as to achieve his goals for the Virgin Group. These include being a participative leader who takes part in what his employees are doing. Branson therefore keeps his workers engaged by inviting them to participate in such company events as Virgin Mobile Live Freefest which is a free musical festival that is held annually to raise funds (via donations) for young people who are homeless. Apart from offering Virgin staff an opportunity to give back to the community and, the fete allows them to thank their customers as well as employees by giving them an opportunity to freely enjoy themselves. This sense of fun unites all Virgin group’s businesses since they all love to let their hair down in addition to the event reminding employees of what the company stands for. Branson is also a firm believer in charitable works which he views as a wonderful way of uniting employees and that is why he organizes several of Virgin staff to run the London and New York marathons to raise funds for their preferred charities (Feloni, 2014). Branson’s love for taking on new challenges inspires his employees and the Virgin team loves doing this too. Through this way, Branson together with his employees have expanded into new fields where they have seen opportunities and have naturally expanded their skills. Branson claims that after they launched their first business in 1972-Virgin Records the other companies have diversified and one of the best things about working for Virgin currently is the diversity of businesses under the Virgin Group spread all over the world. Thus, one time a Virgin employee may be a team member launching a new mobile in the Middle East or Latin America and the next week find himself/herself assisting in the development of one of Branson centers meant for up and coming young entrepreneurs. Branson also likes encouraging all of his employees to make applications for vacancies at other companies under Virgin Brand that they find exciting. Over the past few years, a number of Virgin companies have elicited more of a response from the employees as well as the general public than others and are frequently called “shot in the arm” businesses. These companies show employees and customers what Virgin as a business stands for, and frequently inspires the various teams in other companies to attempt new challenges. Virgin Galactic is the most apparent example; several individuals dream of touring space one time, Branson himself included, hence there was nothing more exciting than beginning a company with the goal of making travelling to space a reality. Consequently, Galactic offered a boost to the whole of Virgin Group, generating a buzz amongst employees especially those proud of the company. For employees to be truly inspired, Virgin’s shot-in-the-arm companies should maintain the core values of the entire Virgin family (Branson, 2012). Branson’s ways of motivating employees is likely to work in a different organizational setting since it does not leave out anybody in the company but instead involves everyone working for Virgin. Normally, participative leadership such as that of Branson trickles down to the employees. In addition, whatever a leader’s style or method is, s/he ought to believe in themselves, their ideas as well as their employees for the organizational success. Branson is also a firm believer in the art of delegating and searches for the best talent in Virgin and offers them encouragement and freedom to flourish. For instance, after setting up Virgin records, he decided to separate himself physically from the business and moved into a houseboat. If an organization believes in delegation of duties, then it is bound to succeed in whatever it undertakes (Feloni, 2014). Branson is a master communicator as well as marketer. When for instance he conceived the idea of starting Virgin Atlantic, he sold it to his directors having no past experience and knowledge in the airline business. Branson communicated the idea in a simple, concise and effective manner. To entrepreneurs and leaders alike, Branson advises, that it is extremely important to communicate an idea in a concise, clear way that can be easily understood and repeated to their own people. He further advises that one should avoid excessively complicated number-filled communications and presentations. He reveals in his book, “Like a Virgin” several secrets that are not taught at business school. Several of those secrets comprise of effective presentation and communication and suggest that entrepreneurs hoping to raise funds in the present day tough economic situations must keep their communications and presentations memorable and simple (Gallo, 2012). If offered a managerial job at Virgin, I would use the following criteria to determine Branson’s leadership style so as to evaluate whether it is fit for me as a manger. Because a leadership style is frequently seen as a dependent variable with focus on how a given leadership style influences and impacts individual attitudes, behavior together with organizational/group performance .Consequently the determinants of a given leadership style looks at what factors normally would influence a particular leader’s domineering style in addition to how his/her leadership style is developed. I would therefore concentrate on Branson’s personality, cognitive choice which is on the basis of assumption that a leader may persistently choose a leadership style that maximizes group and individual performance. I would also use role expectations as well as performance pressures to evaluate Branson’s response to task accomplishment and group maintenance pressures. Using the above criteria it is clear that Branson is a transformational leader since he pays close attention to the individual concerns of his company followers, shows confidence in his workers’ abilities in performing at an extremely high level in addition to putting forth a clear mission together with engaging Virgin community members. Working under Branson would make one feel motivated, inspired and excited about their role (Gallo, 2012). Branson is a global leader who is internationally acclaimed in addition to being practically a folk superman in the United Kingdom. He has created an international leisure and entertainment empire and characterizes his employees as his company’s greatest asset which is entrenched in his business maxim; employees first, customers second and shareholders coming in third. Branson through his Virgin Unite foundation provides leadership globally and reaches out for charitable projects world over. Branson is also a global leader since he is better suited in meeting the demands of the vibrant global economy through his Virgin Group of companies. He is also charismatic in addition to having great motivational skills (Gallo, 2012). Since Branson keeps coming up with new ideas and doing things differently so as to fulfill the needs of consumers that are not met by other providers, he is going to be successful in the next five years. Branson’s also enjoys what he does, builds something that is unique and everyone enjoys and is proud to work for. In addition, Branson is also a good leader and visionary which are very important traits in the success of any business leader. References Branson, R. (2012). Richard Branson on Inspiring Employees . Entrepreneur , pg 1-3. Feloni, R. (2014). Richard Bransons 10 rules for being a great leader. Business Insider , pg 1-4. Gallo, C. (2012). Richard Bransons 5 Elements Of A Perfect Pitch. Fortune , pg 1-3. Schawbel, D. (2014). Richard Bransons Three Most Important Leadership Principles. Forbes , pg 1-5. Read More