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Sir Richard Bransons Management Facet
Sir Richard Branson emerges as one of the most successful, intriguing, and enduring entrepreneurial management personalities. As the Virgin Groups founder, he has curved out an interesting approach and background with regard to the leadership and spatial allocation of resources. When it comes to serial entrepreneurship, he is an extremist, and carries a convictive leadership style quite out of the ordinary (Dearlove 2010).
Born in 1950 in the United Kingdom, Bransons first venture in business was a student paper, pioneered at the age of 16, following his decision to drop out of school. Branson founded a mail order business in the 1970s, followed by a record label that grew to Virgin Records. The Virgin brand flourished between the 1980 and 1990s, following which he delved into airlines, starting Virgin Atlantic Airways. Success of Bransons Virgin brand was, however, not without lowlights. The brand was struggling to keep financially afloat in 1992. Branson sold Virgin Megastores for a billion dollars to THORN EMI and was crushed by his loss. His determination, however, kept him going, and he worked hard to be prosperous without giving up. He started a space tourism company in 2005 Virgin Galactic, whose object is to make orbital trips across the globe and in space. The Virgin brand currently carries over 200 businesses (Dearlove 2010). Branson has an autonomous establishment called Virgin Management Limited that manages the colossal quantities of companies forming the Virgin Group. This management approach therefore assists other companies in running business operations in the most appropriate manner (Dearlove 2010).
Personality and Leadership Traits that make Branson successful
A leader is an organizations figurehead, he entertains clients as well as posing as the organizations spokesperson. Branson is Virgins figurehead. When Virgin Cola was started, he initiated a symbolic war with Pepsi and Coca Cola, by charging into Times Square in a tank. It was a bold leadership move of perspective, geared to draw headlines and stick in the minds of consumers (Dearlove 2010). Sir Richard Branson is regarded as a passionate leader. This is explicated by his trait of establishing a business venture, and guiding it through organizational development in its running processes. He accords personnel a supportive standpoint, unlike quarterly run business facets of myriads of stock exchange businesses.
Branson is also a courageous leader. His courage was pontificated by his decision to sell Virgin Records during the phase of heavy competition in the United States, in order to save Virgin Atlantics finances. He pursuant to that switched banks, owing to inept advice and support accorded to Virgin records (Dearlove 2010).
Branson is a risk-taker. Through Virgin Galactic, he ventured into space tourism, a business considered courageous and inundated with risk. Branson is no stranger to the management of risk. It is common for him to start out small and distribute the risk amidst associate investors. His companies are loosely connected to facilitate risk minimization for each associate.
Branson is knowledgeable in his business ventures, in light of the business dynamics and competition. Branson set out against conventional airline approaches of targeting old clients, and placed his focus on the direct flights between airports with young clients, a move that matched the brand image. He is cognitively creative in his ventures. He developed new creative approaches like ordering of food through touch screens, and comfortable planes. It emerges at a period when most other airlines are trying to figure out means of eliminating imminent frills in order to cut costs (Grints 2009).
Another fascinating trait is his insight into situations of varying accord, for instance, his tourism venture. This personality is instrumental in speeding up his decision making of modus operandi.
Motives and Characteristics
Richard Branson possesses as determined to perform the right activities. He looks to establish entities he is proud of, a philosophy that guides him in business. He also reaches out in the environmental engagements and considers himself fortunate enough to have the option of stewardship in environmental research. His drive is not an out and out pure money-minting venture, but categorically upholds the capitalistic system (DuBrin 2010). He is often quoted as never having the object to become an entrepreneur or businessperson, but an interest to setting himself big challenges that appear unattainable and attempting to conquer them. Other than his charisma, Branson is adoptable to situations. It was valiantly developed in account of his turning around a situation dubbed The Dirty Tricks Affair that had embattled him with the British Airways (DuBrin, 2010).
Branson genuinely likes his personnel. He comes out as friendly, humble, and down to earth as a manager. He in that line believes in his employees and colleagues, and lends an ear to their ideas (Dearlove 2010). Bransons core efforts during the primal portion of the day look to effective time management. His days are equally apportioned between promoting imminent business, trouble shooting and developing new projects. He has an acumen for preparing and handling PR activities, and therefore he never cowers at leading, to impart the most momentum and best public relations (DuBrin 2010). He delegates work to his management staff and colleagues, and consequently steps back. He affords a lot of time to the inception stages of a new business, to drawing a picture, and assisting the management in establishing a plan. After that he steps back and allows the management to drive the business (DuBrin 2010). Sir Richard Branson is quite thorough in hiring the right personnel. He has a knack for procuring good managers and retaining them. The failure of his managers to perform aptly in an existent assignment accords them an alternative befitting venture in which they hold a capacity to perform, based on their capabilities.
Without a human resource, an organization cannot exist. Human resource exists in two categorical contexts: the management and the workers. Workers and their needs ought to be the most exigent consideration of the leadership of any organization. In essence, poor management of human resource of an organization ultimately translates into the collapse of an organization or its ineffectiveness. There is a correlation between the performance of workers and their satisfaction with the organizations management (Vries & Treacy, 2009). Learning the leadership paradigms held by Richard Branson is bound to have a positive impact on my future career planning, based on the tenets I am bound to gather. Measuring employee performance is a core strategy for an organizations success. Through the consistent and fair evaluation methodology ascribed to Branson, as a manager, I will be able to identify strong employees for promotion, point out existent inefficiencies, and award quantifiable salary increases and bonuses. Staff turnover is very frustrating for managers. By learning the methods Richard Branson adopts in a bid to develop in-house talent, I will be in a position to make the employees affiliated to the organization. In so doing, both I and the employees benefit mutually. Positive work culture gives employees respect, while anticipating quality work output. This is a leadership paradigm that Branson reverses. In this culture, the management fully trusts the projects and decision-making of employees without constantly interfering and correcting their course of action. A positive culture therefore increases satisfaction of employees with their jobs. Leadership style is an important factor in establishing the culture of a workplace. A manager who involves employees in leadership creates a positive work environment in that employees feel valued and play a significant role beyond the requirements of their supervisors (Hughes 2009). I am, therefore, bound to advance my capacity as a leader by learning about and embracing Sir Richard Bransons leadership approach.