...Richard Branson Strayer University Bus 520 Professor Frankenhauser Leadership is defined as the process of influencing an organized group towards accomplishing its goals. We have learned that the leader is not exclusive in the leadership process. Researchers Fred Fiedler and Hollander recognized this and introduced the importance of the follower and the situation in the leadership process. Richard Branson is considered one of the most unorthodox business men of the 21st century. At the helm at the mega firm Virgin Group LTD, Branson has defied conventional management and leadership wisdom. Through all his accomplishments, Branson’s amazing leadership skills cannot be mentioned in a vacuum. There is an interactional relationship between a leader, his or her followers and the situations in which they interact. This paper will analyze Branson as a leader. However, because his leadership success is not mutually exclusive, his followers and the important situations that define his career will be addressed. Richard Charles Nicholas Branson is the son of a lawyer named Edward Branson and an airline flight attendant named Eve Huntley-Flindt; born on July 18, 1950, in Surrey, England. At an early age he strived for more and this was due to “his parent’s upbringing, which taught him to stand on his own two feet.” His parents took extreme measures to encourage their children’s independence. At four years old Richard’s mother pushed him out of the car and told Richard to find his...
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...Summary Richard Branson Sir Richard Branson is an English business magnate, best known as the founder of Virgin Group of more than 400 companies. Branson formed Virgin Atlantic Airways in 1984, launched Virgin Mobile in 1999, followed by Virgin Australia in 2000. Virgin builds each of its business, and delivers its services based on 5 core values: fun, value for money, quality, innovation, competitive challenge and brilliant customer service. He was 9th in the Sunday Times Rich List 2006, worth just over £3 billion and the 4th richest citizen of the United Kingdom, according to the Forbes 2011 list of billionaires. In his multiple ventures, both successful and not, he has identified what he believes to be the five key “secrets” to business success. First and most importantly you have to enjoy what you are doing. Secondly create something that stands out. In order to be successful you also must be a good leader. A good leader does not get stuck behind a desk so the last one of his secrets is to be visible. Meanwhile the 50,000 Virgin employees love their leader, and indeed many get the chance to join him for a weekend on Necker, which is a 74 acre island in the British Virgin Islands, owned by Richard Branson himself. British Virgin Islands are group of islands located approximately 1,100 miles southeast of Miami, Florida. He purchased the island at the age of 28, just six years after starting Virgin Group. It took 3 years and $10 million US dollars to turn it into...
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...Sir Richard Branson BUS 520 June 4, 2012 Introduction Sir Richard Branson is the kind of entrepreneur that will take the new millennium by the throat and take society to new levels. He is the kind of leader that takes risks and is not afraid to fail. You don’t go from be a high school drop to a multi-billionaire by being afraid to take risks. Mr. Branson has not always been successful but he has always taken a leadership role in any industry that he has chosen to enter. According to Hellreigel, D. & Slocum, J., (2011), Mr. Branson through his company Virgin Group, LTD, “has turned a lifelong disdain for conventional business wisdom into a multibillion dollar global conglomerate and one of the worlds most recognized brands” (p. 344). It is this knack for unconventionality that is the key to the Branson name and the Branson legacy. Even though Mr. Branson is a very successful entrepreneur, he is not universally liked in the conventional business world. According to Hellreigel, D. & Slocum, J., (2011), “Some have suggested that Branson and the Virgin brand attract almost a cult following, and it works both ways-many people admire Branson, but some detest him” (p. 344). Mr. Branson has been on the business scene for more than 45 years and during that time frame one thing can be said for how he conducts business and that is that his employees love him which contributes to that cult like following. The author will discuss Mr. Branson’s leadership...
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...Abstract: My submission discusses the ways in which Richard Branson is seen as a leader. It shows which leadership theories that are used by him, in order to lead those that follow him, either through work or general enthusiasm for his leadership style, and how effectively those theories are applied. This submission covers details of Richard Branson’s early life and the beginning of his leadership. It then goes on to explain how his leadership style emerged as he began to run the Virgin Group. I then explained how Richard Branson is seen by the public, and how he has followers in the public that don’t work for him. After this, I consider which technical leadership theories are used by Richard Branson. I review how successful Richard Branson has been as a leader, by looking at how his followers respect him and follow in his footsteps. To conclude, I review Richard Branson from my own perspective. Introduction Before a leader can be analysed, one must define what leadership is. This is hard to do. It’s an intrinsic trait which is hard to define. Jackson and Parry (2008: 5) say that ‘leadership is like beauty – it is difficult to describe, but we certainly know it when we see it.' However, the general consensus is that leadership is influencing people in order to attain goals (Daft, 2008: 590). The leader that will be analysed in this essay is Richard Branson, who runs and owns the Virgin Group. He has demonstrated his leadership skills from the early age of just seventeen...
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...Sir Branson Sir Richard Branson, Chairman, Virgin Group, Ltd Case Study 5/23/2012 BUS, 520 Abstract Sir Richard Charles Nicholas Branson (born 18 July 1950) is an English business magnate, best known for his Virgin Group of more than 400 companies. In 1970, he founded Virgin as a mail order record retailer, and shortly afterwards he opened a record shop in London. With around 200 companies in over 30 countries, the Virgin Group has now expanded into leisure, travel, tourism, mobile, broadband, TV, radio, music festivals, finance and health and through Virgin Green Fund. (Finkle, 2011) For the purposes of this discussion I have been tasked with answering the following questions related to leadership in a question and answer format. With the first question I am to describe Branson’s leadership style in terms of the leadership models addressed in Chapters 10 and 11 of the text and evaluate the likely effectiveness of that style in the U.S. today. Afterwards I am to, recommend a different leadership style (or combination of styles) that would make Branson an even more effective leader. Along with, determining how Branson would develop and lead a global team working on a major project (e.g., space tourism). Followed by the last question where I am to discuss how you can incorporate...
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...the leadership process. Richard Branson is considered one of the most unorthodox business men of the 21st century. At the helm at the mega firm Virgin Group Ltd, Branson has defied conventional management and leadership wisdom. Through all his accomplishments, Branson’s amazing leadership skills cannot be mentioned in a vacuum. There is an interactional relationship between a leader, his or her followers and the situations in which they interact. This paper will analyze Branson as a leader. However, because his leadership success is not mutually exclusive, his followers and the important situations that define his career will be addressed. AN OVERVIEW OF BRANSON AND THE VIRGIN GROUP Biography Richard Charles Nicholas Branson is the son of a lawyer named Edward Branson and an airline stewardess named Eve Huntley-Flindt; born on July 18, 1950 in Surrey, England. At an early age he strived for more and this was due to “his parent’s upbringing, which taught him to stand on his own two feet”. His parents took extreme measures to encourage their children’s independence. At four years old Richard’s mother pushed him out of the car and told Richard to find his own way home from three miles away, obvious enough he got lost. But, it was a lesson that he would never forget. And at the age of ten his mother put him on a bike and told him to ride 300 miles[2]. Soon after Richard and his two other siblings would set challenges for them selves. Richard found success in athletics...
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...Sir Richard Branson, Chairman, Virgin Group, Ltd Case Study Sharon Dunbar Dr. Tressa Shavers BUS 520 March 1,2012 Overview – Virgin Group, Ltd. The Virgin Group, Ltd. is a British based venture capital organization founded by Richard Branson, incorporated in 1989. The focus of their business group is travel, entertainment, and lifestyle, and while actually incorporating as a venture capital group in the late 1980s, they had a number of activities in the 1970s. To date, Virgin has created more than 300 companies globally, employing over 50,000 people in 30 countries. In 2009, global revenues exceeded $18 billion US with a portfolio that continues to grow. The company believes in making a difference, and is quite particular about the manner in which they invest, or assist in marketing new ventures. Several things appear to ensure that anything that has a Virgin brand is successful: 1) the brand, 2) Richard Branson’s reputation; 3) empowering of talent; and 4) the management style engendered by Branson which flows down to almost every aspect of the organization. The company prides itself on sound, sustainable philosophies and posits the notion that there are six identifiers that characterize the company: • Lower the carbon footprint of all Virgin represented projects • The Gaia concept – one living world – use the planet’s resources responsibly • Equality...
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...n Richard Branson: The spirit to Succeed Fundamentals of an Entrepreneur 04-75-290-01 Submitted to: Dr. Jonathan Lee Submitted By: Ryan Thrasher Submission date: March 3, 2012 The mind and spirit of an entrepreneur are that unlike any others. In today’s economy, it takes more than the basic traits and skills to succeed in founding and running a successful company. One has to seek opportunity where no one else does and be willing to take adverse risks in order to get ahead. The risk involved in creating your own business venture in today’s economy is astronomical compared to times prior. Charles Dawrin’s theory of ‘survival of the fittest’ reigns supreme in the business world. The ability of a company to create, innovate, differentiate, and grow often determines their chance of surviving. Based on a stats derived from Industry Canada (2009) “Business failure statistics show that about 96 percent of small businesses (1–99 employees) that enter the marketplace survive for one full year, 85 percent survive for three years and 70 percent survive for five years (Key Small Business Statistics - January 2009, Industry Canada). This is why it is imperative for a young and aspiring entrepreneur; to not only encompass a vast array of specialized traits but also be willing to take on the adverse risk involved in following through. The focus of this paper will support those desired traits and characteristics that helped define the great Richard Branson as an entrepreneur...
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...Schawbel: How would you describe your leadership style? How do you believe this style makes your company culture unique? Richard Branson: Rule-breaker – because I never learned the rules in the first place. To change the game is at the heart of what Virgin stands for, so the company culture has always been: “Don’t sweat it: rules were meant to be broken.” Schawbel: What is your process for selecting leaders at Virgin? What qualities do you look for in new leaders and what qualities are your biggest turnoffs? Branson: I’m quite involved in hiring for leadership and I look to hire my weaknesses. Personality before CV. A person who has multiple degrees in your field isn’t always better than someone with broad experience and a wonderful personality. I like to take chances on people, and whenever possible, promote from within – it sends a great message to everyone in the company when someone demonstrates a passion for the job and leadership skills at every step along the way and is rewarded with a leadership role. Schawbel: How did you originally come up with Virgin’s values, vision and mission and then find the right people who believed in you and the company? Branson: The Virgin values have and will always be the same: to change the game and challenge the status quo by providing a product or service of great use. My first business venture was Student magazine. Along the way, we saw gaps in the market where Virgin could play a role and can be an incredible force for...
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...Research Paper on Richard Branson and Tony Hsieh Villarico, Ralph Emmanuel T. ENTREPRENEURS SCHOOL OF ASIA Student ID # 13304- 001335 Entrepreneurship ENT125/COM125/BUS129 (LAB) In Partial fulfilment of the course requirements Submitted: AUGUST 25, 2014 DECLARATION OF NON-PLAGIARISM I hereby acknowledge that: I understand what is meant by plagiarism This paper is the product of all my own work and I have acknowledged and cited any use of the published and unpublished works of other people. I understand the institution’s policy on plagiarism is an automatic failing grade for the class and constitutes a gross violation of the code of conduct and will result in corresponding disciplinary sanctions Student’s Signature: Date: Student’s Name: Table of Contents: Contents Executive Summary 4 Recipes for Success 5 Introduction 5 Richard Branson 5 Tony Hsieh 7 What led to their Success 9 Introduction 9 Richard Branson 9 Tony Hsieh 10 Challenges 11 Introduction 11 Richard Branson 11 Tony Hsieh 12 What struck me most 13 Introduction 13 Richard Branson 13 Tony Hsieh 13 Compare and Contrast 14 Introduction 14 Richard Branson 14 Tony Hsieh 15 Executive Summary This paper aims to present and discuss both Richard Branson and Tony Hsieh on their business ventures, characteristics, and endeavours both inside and outside the business world, it will focus mainly on their successes and the...
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...life style, one should look no further and admire Sir Richard Branson’s. He is a financially well of individual thanks to his entrepreneurship, an adventurous rock star that seems to just party and have fun every single time one sees him in the media. In order to live such a fabulous lifestyle, an individual should be able to have access to a lot of financial assets, such as credit cards, checks, and more importantly cash. In Sir Richard Branson’s case he has all that and more because of ways he created businesses and critical decisions he made since a young age and throughout his life. Born in July 18 1950, in the outskirts of London, Richard Charles Nicolas Branson was the oldest of Edward Branson and Eve Huntley Branson’s three kids. Because of a severe Dyslexia Richard had a very painful time in elementary, he barely knew how to read at eight years old and was completely lost when it came to numbers. “School was painful; I’d look at a blackboard and could not understand anything that was going on…Interestingly, if you look at the history of dyslexics, they often exceed quite exceptionally because they concentrate on the area where they are good at…” (Nr, 2013) Richard Branson’s created his first business when he was fifteen years old, this business was a magazine called Student. With a circulation of fifty thousand, the magazine was an instant hit. In 1970, because of need of money for the magazine, Richard Branson being the entrepreneur that he is created a record store...
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...RICHARD BRANSON BUSINESS LEADERSHIP ANALYSIS University of Colorado Denver Business School 1475 Lawrence Street Denver, Colorado, 80202 A. EARLY HISTORY Sir Richard Charles Nicholas Branson was born on July 18th 1950 in Surry, England (Branson, 2009). Branson’s father was a barrister, a particular type of lawyer in the English law system. Branson’s mother was a flight attendant. Dyslexic since he was a child Branson never excelled academically; however, Branson did show promise as a leader early in life. After being moved from the Scaitcliffe School to the Stowe School, a boarding school, for being a “menace” he quickly became the captain of his cricket and soccer teams. Branson would later state that his ability in sports contributed to his confidence as a young entrepreneur (Branson, 2007). B. PROFESSIONAL HISTORY At the age of 16 Branson dropped out of the Stowe School to start a youth culture magazine called Student. Student was launched in 1966 as a, for students by students magazine. Branson made a list of the 50 top advertisers in the UK and one by one made phone calls selling the magazine’s advertising space. Richard ran the first edition of 50,000 copies for free, after he covered the cost of production with adverting revenues (Knappenberger, 2011). In 1969 Branson began his virgin empire with the launch of a mail order record service. By 1972 the mail order record service provided Branson with the capital to start his own recording studio in Oxfordshire...
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...Sir Richard Branson, Chairman, Virgin Group, LTD . Case Study BUS520 Dr. Sue Lowe December 4, 2012 Abstract Sir Richard Branson was born in Stowe in the United Kingdom in 1950; Branson first business venture was a student paper, which that started him at the age of 16. Sir Branson started this after he had decided to drop out of school. The decision to drop out of school might have been initiated by his seemingly troublesome period in his elementary school. He has a diagnosis of being dyslectic and he also performed poorly in school. Well in the 1970s Sir Branson started a mail order business and later on he started a record label then two years later the business was expanded with record stores named Virgin Records. The Virgin brand grew during the 1980s and 90s and Branson ventured into a airlines and called it the Virgin Atlantic Airways and also started a Virgin record label in America. In 2005 Branson started Virgin Galactic, a space tourism company, where the intention was to eventually reach orbital trips around the globe as well as going to the moon. Well as of Today the Virgin brand has over 200 different businesses, which is great. Sir Branson has differnet leadership models. He is differnet from others in so many ways. Sir Richard Branson is determined a very determined man with many leadership traits...
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...Richard Branson Launches A Green Energy Plan For The Caribbean. ENERGY In 1979, when Richard Branson bought the 74-acre Necker Island in the British Virgin Islands, he paid less than $300,000. It was untouched, undeveloped, inhabited only by birds and jungle critters. Back then, no one worried a wit about carbon emissions, ocean acidification, rising sea levels. To bring electricity to his island retreat Branson, like virtually everyone else on the small islands of the Caribbean, installed diesel generators. As far as fuels go, diesel is hard to beat. It's easy to transport and contains a lot of energy in a small volume. It's already ubiquitous in the islands as fuel for boats. And it's never been cleaner, with U.S. government standards limiting sulfur content to no more than 15 parts per million. For decades, diesel was simply the way to go. But Branson wants to change that. Because running on diesel means that the cost of electricity on Caribbean islands averages about 50 cents per kwh, about five times what it is on the mainland United States. In early February, Branson leveraged his star power to convene a three-day meeting of dignitaries from 13 Caribbean nations including the Virgin Island, St. Kitts & Nevis, Turks & Caicos and the Cayman Islands. While enjoying both Necker Island and Branson's neighboring Moskito Island, they discussed the costs of powering their island homes and the economics of switching over to clean, green renewable energy. Working...
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...Sir Richard Branson, Chairman Virgin Group, Ltd. Case Study International success for an organization requires the expansion of the company into the global market for exposure and the goal of increasing profit margins. Strong leadership skills are an essential key in the success for a global company. Judgment, positive attitude and entrepreneurial thinking, and motivational incentives are additional keys that contribute to the success of an organization. The strategic leadership ways and personality of Sir Richard Branson proved to be success in the company he led into the global market. His Virgin Galactic company had the vision to be the first company to offer passengers the opportunity to fly into space at the cost of an expensive price as the world’s first space line. In addition to offering the hopes of the first space line for customers, Branson wanted to expand the global presence even further by participating in joint-venture agreements in telecommunications with China. By incorporating their reputation into the foreign market, the exposure to an untapped market or competitive market, an organization is able to branch out with ideas that will produce additional profits. The leadership traits that Branson portrayed played a huge part in the motivation skills he used on his employees that increased production, Corporate leadership requires two important areas: content leadership (leader’s attributes and decision making skills) and context leadership (variables...
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