LEADERSHIP IN ORGANIZATION: RICHARD BRANSON
INTRODUCTION
Leadership plays a vital role in the development and progress of the organization. It helps in developing a learning environment where information sharing is highly accredited for the collaboration amongst the workforce. The adaptability characteristics of the workforces enable the organization to acquire its goals and excellence in productivity. Leading a group of people within an organization so that the goals and objectives of the organization can be accomplished is called leadership. A leader can inspire his followers, plan all the relative action for performing the work, and focus on the targets which are required to be taken (DePree, 2011).
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This report will discuss the leadership of Richard Branson. He is the founder of the Virgin Group which comprises of more than four hundred companies under its name (Biography, 2014). His achievements and decisions depict excellence and being goal oriented turned all the actions he took into profitability. The success achieved by the exemplary business tycoon relies solely on the challenging decisions which he made. This report will discuss the leadership style of this dynamic personality and develop conclusive points which have contributed to his success. The current financial holdings and the role of leadership in the business progress will be elaborately discussed. Significant and prominent decisions which have aided to the business success will also be discussed. All these factors will contribute in developing an idea through which the business has acquired success. Decisive action making and meeting with challenging situations is essential for the progress of the business. This signifies the role of leadership and its importance within the business.
RICHARD BRANSON
Richard Branson born in UK is one of the richest persons rated # 272 in the Forbes list and # 6 in UK. He is a self-made owner of Virgin and a dropout from high school. He is aged 63 and grabs the headlines constantly as he possesses a net worth of $4.6 billion. He is rated as one of the wealthiest people and is the sole leader of the Virgin group (Forbes, 2013). He is one of the most dynamic leaders who have revolutionized the traditional norms of business (Bans, 2013). The classification of the achievements by Richard Branson and his style of leadership which has made him one of the most successful professionals has been discussed in this report elaborately. His position and his company position have also been discussed to classify his standings in the business world.
DIFFERENT STYLES OF LEADERSHIP
Within the work environment different types of leadership styles prevail. The adaptation of style is done on the basis of culture and goals which form the grounds for the business. The leadership style helps in the development of style and confidence (Shelton & CAC, 2006). Necessary action and management roles are essential for managing the organization. All these necessary tasks reform the practices and help with the development of the business (Gardner, 2011).
The development of the organization relies heavily on the organizational performance. Based on this the managers develop the strategies. The leadership of the organization is responsible for developing a peoples system so that the structure, capacity and capability of the business can also enhance (Kotter, 2007). All these actions of the business are responsible for the decisions which are taken. This is also associated with the customer experience. This enhances the overall organizational performance which benefits the organization in the short run and the long run. The development of the business and is done on the values which the organization follows and the business culture which prevails within the organization. This shows the relevance of leadership and the role of managers for effective management (Hackman & Johnson, 2004).
The five kinds of leadership styles which are used within the organizations frequently are shown as following:
Different leadership styles are transformational, transactional, autocratic, participative and Laissez-Faire (Kaiser, Hogan, & Craig, 2008). An elaborate description of the leadership style and matching it with the qualities of Richard Branson will be shown below
Transformational leadership style: In this style the leaders constantly engage with the managers so that high level of communication can take place. The leaders constantly ensure that the staff is motivated, and ensure high levels of productivity. Through effective leadership, the organizational performance and accomplishment of goals and targets takes place effectively. The leaders always look at the big picture and seek to accomplish the goals effectively (Sosik & Godshalk, 2000).
Transactional leadership style: In this style, the leaders work on the basis of style and with this the team members are offered the rewards and punishment. The goals which the managers apply are pre-determined, and employees agree on the guidance which is provided by the leader. The managers have the power to assess the work of the employees and make the goal oriented through appropriate training (Sosik & Godshalk, 2000).
Autocratic leadership style: These leaders delegate the power to the managers and their actions benefit the action of the organization. The employees who are hired are highly skilled and trained. This requires relatively less supervision, and the goals and targets of the organization can be appropriately targeted. The creative employees don’t see this style as beneficial in the management (Sosik & Godshalk, 2000).
Participative leadership style: The participative style also called as the democratic style relies heavily on the participation of leadership. The decision making of the leaders boosts the morale of the workers and on the basis of this decision making takes place (Sosik & Godshalk, 2000).
Laissez-Faire leadership style: This kind of leader does not lead the supervisors constantly. This kind of leader also lacks in providing the relevant feedback to the employees. This style can cause hindrance in the leadership and along with this the managers are solely responsible for the performance of the organization. The managers supervise, produce and control the cost. Their actions can result in success and failure of the organization (Sosik & Godshalk, 2000).
All the different styles which have been discussed above show the role of managers and its significance within the organizations. Different styles are adopted by the organization to meet the challenges. With this, the businesses take the measures and adapt to the relevant style which is needed for taking the decisions.
LEADERSHIP LIFE CYCLE AND RICHARD BRANSON
There are characteristics of the leaders which help in managing the organization. Several and individual tasks are allotted to the managers. The style which is applied is delegating, directing, supporting and coaching. These assist in deciding the style which is required. The style is performing, norming, forming and storming. Different needs of the business require the management to take the decisions accordingly.
The leaders structure the style of management on the basis of situation and structure of the business. The leadership of Richard Branson is autocratic and comprises a few elements of participative leadership. Branson tries to find the best workers for the job and delegates the roles which need to be performed in the business (Virgin, 2014a). He delegates the employees with the authority to work for the benefits of the business. He also encourages participation and engages with the management accordingly. His involvement in the decision making is limited, but he is always monitoring the actions of the managers. He delegates the responsibilities to the most competitive professionals and enables them to take the relative business decisions. The delegating action of the leaders strengthens the management and gives them the power to make the decisions. This also promotes team work and enables the managers to take authority of the decisions which they take. These actions benefit the organization and assist in acquiring the business goals effectively and efficiently (Virgin, 2014a).
STANDING OF THE ORGANIZATION
Virgin group is an international group which is highly recognized around the world (Bloomberg Businessweek, 2013). It is one of the most highly recognized brands which through its performance have acquired international recognition. In the year 1970, Sir Richard Branson of the virgin group has led the business towards success. The business of the group range from mobile telephony, travel, financial services etc. the employed workforce at Virgin is more than 50,000 people. All these are operating in a diversified business environment around the world. The business takes pride in ensuring that it operates in more than fifty countries across the globe. The calculated revenue of the group for the year 2012 amounted to £15bn ($24bn) (Virgin, 2014b). In the segment below the information about the senior investment team of virgin can also be analyzed.
The entire Virgin group comprises of more than 400 companies. The management cannot be managed by a single leader single handily. Different managers are allocated the tasks for managing the companies (Virgin, 2014b). The style of leadership of Richard Branson is highly authoritative. He seeks most competitive people to manage the companies and sees to it that they are implementing the organizational goals effectively. The managers take authority of the action and ensure that the companies are operating effectively and efficiently. This also shows participation of Richard Branson in the business decisions and suggests the measures which must be implemented. The delegation of authority of running and operating the companies to the most competent people in the business world increases the chances of success. The ideology of operating a business is delivered by Branson, but the day to day operative measures is the responsibilities of the managers. They understand the goals and propose the business strategies accordingly (Virgin, 2014a; 2014b).
The leadership of Richard Branson is Autocratic and participative both. His leadership life cycle shows that he acquires and delegates the tasks to those who are most capable and competent for doing this. He only looks at the briefs and get involved with the management in the places which require the most attention. The organizations or the managers which are underperforming are guided, and new strategies for stabilizing the business are promoted.
DISCUSSION OF THE TIME LINE
The development of the Virgin group over the time was significantly enormous. Constant acquisition, innovation and expansion in the new domain developed the business. With the management accomplishing the milestones, the ideology of the leadership played a vital role in the progress and development of the business.
The style of leadership and the delegating nature benefited the business. The leader proved that the business progress relies on the ideological development which is applied on the business. He delegated the task to the people who can manage the business most effectively and with the profits his companies generated Richard Branson focused on expansion and methods which can prove beneficial for the business. His ideas of leadership have developed the group so enormously, and the advancements can be seen in the timeline which has been shown above.
CONCLUSION
Leadership style of Richard Branson is exemplary. With an effective management, the business has achieved a milestone. Through the development and progress of the business, Branson has acquired the reputation of one of the most renowned billionaires. His achievements and his thoughts have delegated the authority to his managers. He has managed the workforce in such a way that he monitors all the actions and still gives the workers the authority to make the decisions which are required.
This report is based on the leadership and its importance within the organization. Discussions on the leadership styles and management decision which result in the progress and development of the business have been elaborately discussed. Achievement of the business and drawbacks has also been presented which develop and understanding of the business discussion which take place. Standings of the business and the financial achievements which benefit the organization have also been discussed. The timeline of the business shows the progress of the business in a diversified business setup. Based on this the development of the business can be summarized and understood.
REFERENCE
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Biography. (2014). Richard Branson. Retrieved February 10, 2014, from http://www.biography.com/people/richard-branson-9224520
Bloomberg Businessweek. (2013). Company overview of Virgin Group Ltd. Retrieved February 10, 2014, from http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=36312
DePree, M. (2011). Leadership is an Art. Random House Digital, Inc
Forbes. (2013). Richard Branson. Retrieved February 10, 2014, from http://www.forbes.com/profile/richard-branson/
Gardner, H. (2011). Leading minds: An anatomy of leadership. Basic Books
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Kaiser, R. B., Hogan, R., & Craig, S. B. (2008). ‘Leadership and the Fate of Organizations’. American Psychologist, 63(2), 96.
Kotter, J. (2007). Leading Change: why transformation efforts fail. Harvard Business Review, 85(1), 96-103.
Shelton, M., & CAC, C. (2006). Leadership and Diversity. Camping Magazine, 26-32.
Sosik, J. J., & Godshalk, V. M. (2000). Leadership styles, mentoring functions received, and job‐related stress: a conceptual model and preliminary study. Journal of Organizational Behavior, 21(4), 365-390
Virgin. (2014a). True business leaders think differently. Retrieved February 10, 2014, from http://www.virgin.com/richard-branson/true-business-leaders-think-differently
Virgin. (2014b). About us. Retrieved February 10, 2014, from https://www.virgin.com/about-us
Virgin. (2014c). Our story. Retrieved February 10, 2014, from http://www.virgin.com/time-machine/1960s
