Contemporary Business Leaders

Richard Branson is a globally renowned entrepreneur who is usually associated with the Virgin Group. The popular English tycoon has at least 400 companies within the Virgin Group umbrella. His entrepreneurial tendencies began to manifest when Richard was 15 years old (Virgin, 2021). The zeal to make a positive difference in the world is evident in the various enterprises that operate under the nonprofit organization the Virgin Group. Richard Branson inspires upcoming entrepreneurs to engage employees within a joyful environment leading to success.

Identify a leader and justify why you selected that particular leader. With what organizations is the leader affiliated? In what industry is the leader recognized? How long was the leader in a leadership position?

Richard Charles Nicholas Branson was born in 1950. The British tycoon’s parents were Edward James and Eve Branson. Branson struggled with schoolwork due to dyslexia. At the age of 16 years, Richard Branson permanently dropped out of school. This unpopular decision led to the establishment of the magazine Student. The print material sought to discuss issues that affected young people. In 1966, the first issue of Student was printed. The magazine made $8000 through advertising. At least 50,000 copies were released for free. This initial business spearheaded Branson’s journey into entrepreneurship, which has lasted for 50 years and continues to exist.

Richard Branson is affiliated with the Virgin Group, which he founded in 1970. The Virgin Group is found in different sectors, including health, music, leisure, telecommunications, and travel. The pioneer entity in the Virgin Group is Virgin Records, which was started as a retailer dealing with mail-order records. The company proceeded to sign numerous artists such as Mike Oldfield, Rolling Stones, and Sex Pistols, making it a success (Amyx, 2018). Besides doing business, Richard Branson is a philanthropist. He established Virgin Unite in 2004. Virgin Unite is Virgin Group’s nonprofit entity, which brings together individuals with entrepreneurial ideas with the intention of making the world a better place. Entities such as the B Team, the Elders, and Ocean Unite have been incubated through Virgin Unite (Virgin, 2021). These aspects confirm that Richard Branson’s leadership at the Virgin Group is successful. Richard Branson’s impact on budding entrepreneurs shows his desire to improve the world through those in need of his experience, mentorship, guidance, and resources. These are the reasons for choosing Richard Branson for this discussion.

Discuss which leadership theory best describes the chosen leader’s approach to leading people.

Richard Branson utilizes the transformational leadership theory at Virgin Group. Transformational leadership involves providing followers with the autonomy to drive change within an organization. Transformational leaders must set aside their interests and create clear work expectations among their followers (Akingbemisilu, 2018). Such leaders are charismatic and initiate the change process, letting followers proceed with the activities that are related to the same.

Richard Branson is a perfect definition of a transformational and charismatic leader. Richard Branson attests to his lack of regard for management and leadership rules. He also encourages other upcoming leaders to break the rules. This approach enables Richard to come up with new plans once the current ones fail together with his employees. He states, “Tennis, like a business, moves so quickly that if you dwell on the past for even a few minutes, an opportunity will have passed, and the moment will be lost. You have to get into the right frame of mind in order to perform your best and need to be able to put setbacks behind you instantly” (Domanska, 2021). The statement confirms the leader’s easygoing and unusual nature in leadership.

In addition, Richard Branson states the need to hire people whose strengths are others’ weaknesses. Thus, personality is critical to academic achievement. Most importantly, the leader emphasizes the need to fill the market gaps instead of simply competing continually. The critical leadership skills that Richard observes include learning, listening, and laughter (Schawbel, 2014). This style of leadership makes the Virgin Group a highly desirable employer.

What was the leader’s greatest career achievement?

In his own words, the ability to learn consistently has been his greatest achievement. “The truth is, for most of the time, I’ve learned as I went along, but I’ve learned this is often my greatest asset” (Mejia, 2018). The statement confirms that an individual’s ability to learn on the job is critical to their success. Richard Branson has been within the learning curve during the entrepreneurship journey. When he began his first enterprise, Virgin Records, he did not have any background related to music. This understated ability enabled Richard to build a firm foundation and create admirable global businesses.

Identify a significant career challenge the leader faced and how the challenge was handled. Did the response align more with a managerial role or a leadership role?

The crash involving Virgin Galactic, one of the entities under the Virgin Group umbrella, was Richard Branson’s greatest challenge. SpaceShipTwo crashed in the Mojave Desert, killing one of the two test pilots in October 2014. The other pilot sustained critical injuries. The crash occurred due to human error and mechanical anomalies. This crash cast a dark cloud over the promising venture and interrupted planned space travels for at least 500 people who had already made reservations with Virgin Galactic. As the leader of Virgin Group, Richard Branson announced his condolences to the family of the deceased. He also confirmed to the public and Galactic’s employees about the future direction regarding exploring space tourism (France-Presse, 2014).

What power base did the leader use in handling or resolving the challenge?

After the crash, Richard Branson used his legitimate power to encourage other employees to continue with testing and development efforts (France-Presse, 2014). This power played out when he spoke to the public about the crash. His position as an influential leader who makes a positive impact on people’s lives contributed positively to the resolution of the challenge.

Compare the leadership style used by your selected leader against that of the leader’s successor/predecessor (or competitor in the same industry if a successor/predecessor is not applicable). Was there a difference in the leadership styles? Which leader do you think is more effective and why?

Richard Branson differed from the Late Steve Jobs. Both leaders were involved in the communication sector. Steve Jobs used the authoritative style, while Richard Branson utilized the transformational style. Richard Branson delegates to employees and seeks their opinions and self-drive. The late Steve Jobs used reward and punishment to achieve desired results while retaining power. Often, Steve Jobs relied on efficient communication of instructions to subordinate employees (Isaacson, 2012). Richard Branson believes in listening to employees to avoid mistakes. Richard Branson’s charismatic and jovial nature seems to contribute largely to his style of leadership (Domanska, 2021).

Include a personal reflection and identify two to three attributes you hope to emulate or avoid (based on studying this leader) in order to be a successful leader.

I admire Richard Branson’s tenacity, charisma, and ability to lead others joyfully. The leader started undertaking entrepreneurial activities as a teenager. His ability to accept his differences owing to dyslexia is admirable. Dropping out of school and starting an enterprise that made at least $1milion is inspiring (Schawbel, 2014). Taking an unpopular decision shows his determination to excel in the world of business. As a leader to reckon with, Richard Branson continues to show remarkable determination even after the SpaceShipTwo crashed during testing. His encouragement to employees confirmed that he is determined to live out his dreams. As an aspiring entrepreneur, I hope to learn the art of leadership as Richard did.

References

Akingbemisilu, T. (2018). Critical Evaluation of the Application of Leadership Theories to a Leader in an Organizational Context and Management Theories to a Contemporary Organization (A case study based on Virgin Group Limited and the Co-Founder, Sir Richard Branson).

Amyx, S. (2018). Story of Strive: The Inspiring Journey of Richard Branson.

Domanska, A. (2021). What makes Richard Branson a Great Leader? Industry Leaders.

France-Presse, A. (2014). Investigation Begins into Crash of Virgin Galactic Spacecraft. Industry Week.

Isaacson, W. (2012). The Real Leadership Lessons of Steve Jobs. Harvard Business Review.

Mejia, Z. (2018). Self-made billionaire Richard Branson on achieving success: This has been my ‘greatest asset.’ Retrieved from https://www.cnbc.com/2018/01/26/richard-branson-on-success-this-has-been-my-greatest-asset.html

Schawbel, D. (2014). Richard Branson’s Three Most Important Leadership Principles. Forbes.

Virgin. (2021). Richard Branson’s story. Retrieved from https://www.virgin.com/branson-family/richard-branson

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

Contemporary Business Leaders

Many names have been recognized as notable business leaders. Steve Jobs, Bill Gates, Elon Musk, Mark Zuckerberg, Jack Welch, and Colleen Barrett are all leaders identified for their unique approach to leading people. Choose one of the following business leaders for this assignment: Jeff Bezos, Elon Musk, Steve Jobs, Bill Gates, Jack Welch, Indira Nooyi, Anne Mulcahy, Howard Schultz, Colleen Barrett, Larry Page, Mark Zuckerberg, Warren Buffett, Richard Branson, Susan Wojcicki, Marissa Mayer, or Mary Barra. Select one leader and discuss (in 1,250-1,500 words) what you have learned about the selected individual as a leader and the leadership style that leader embodies. Address the following in your discussion:

Contemporary Business Leaders

1. Identify a leader and justify why you selected that particular leader. With what organizations is the leader affiliated? In what industry is the leader recognized? How long was the leader in a leadership position?
2. Discuss which leadership theory best describes the chosen leader’s approach to leading people.
3. What was the leader’s greatest career achievement?
4. Identify a significant career challenge the leader faced and how the challenge was handled. Did the response align more with a managerial role or a leadership role?
5. What power base did the leader use in handling or resolving the challenge?
6. Compare the leadership style used by your selected leader against that of the leader’s successor/predecessor (or competitor in the same industry if a successor/predecessor is not applicable). Was there a difference in the leadership styles? Which leader do you think is more effective and why?
7. Include a personal reflection and identify two to three attributes you hope to emulate or avoid (based on studying this leader) in order to be a successful leader.

You are required to use at least two external sources to provide evidence in support of the leadership style displayed by your selected leader. The rationale should be justified; this should not be completed based on an opinion.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

Below is a video that may help clarify these concepts:

• https://www.youtube.com/watch?v=zNyPg9DdaUQ

Here is a video to help break the assignments down for you as well:

• https://www.loom.com/share/3aca6c92d23046e89097bcd44e2fe3da