Assignment 3: Leadership of Richard Branson
In today’s business world, leaders should be able to follow different leadership styles, and technics according to the situation context to lead successfully. There are several kinds of leadership styles which can be used to lead employees in any company. There’s the transactional form of leadership, in which the employees work within the organizational as it already exists, and they are aware of the effects and awards. Goals have been set for the employees, and they are motivated to achieve these goals within a given timeframe. In a transformational leadership, changes are made in the work style of the employees, the culture of the organization, and rousing the emotions within the employees (Bass, 2009). Also, the Tight-loose leadership is about leading an innovation team and managing the idea generation and selection process.
Leadership is not for everyone, and yet many people do not seem to understand what it takes to be a leader. Leaders should not just set the direction, but should also have the management skills to guide employees in the right direction, in order to achieve a successful business. Part of being a great leader is, knowing that no one can achieve success without help.
Richard Branson is an English businessman and investor, born on July 18, 1950 in Black heath London. He is the founder and chairman of Virgin Group. The Virgin Group is a British multinational branded venture capital corporation founded by both Richard Branson, and Nik Powell. Richard Branson is normally referred to as the “hippie entrepreneur” (Buchanan & Huczynski, 2007). He is famous for his informal approach in the corporate culture of the Virgin Group. He has disregard for the conventional process to change the criteria for working. Mr. Branson believes in creating a friendly environment within the organization, so that employees can have pleasure in their role, as well as gaining the sense of responsibility once they reach their goal. Mr. Branson has a philosophy of having a thorough understanding of all the ins and outs of the business.
Assess the key elements of Richard Branson’s leadership style and the impact that those elements have had on his business success. Provide support for your rationale:
One of the greatest leaders in today’s business world is Richard Branson. Without exception, Mr. Branson is an exceptional business leader and has proven it throughout his lifetime as a success businessman. Several elements describe Mr. Branson’s participative leadership style that led him to be a successful businessman. He has the ability to influence others, create success, a good negotiator, be a good competitor, sincere, and take risk. He is opened to new ideas, and greatly welcomes employee feedback and concerns.
Mr. Branson form of leadership is more self-governing and participative than a controlled system type that always relies on other people’s decision to move things forward. Mr. Branson believed a controlled system limits employees from being creative,...