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Sir Richard Branson’s
Assignment week 7
The key components of Sir Richard Branson’s and the reason he has been successful is because of his leadership style that is down to earth, openness creative thinking and sound judgment along with being a visionary and a charismatic leader. A charismatic leader is also innovative and someone who is an inspiration to subordinates and performance oriented. (Deresky, 2011)
By the same token, Sir Richard Branson’s charismatic leadership style is a great motivator also. Motivation is defined as the force or forces that arouse enthusiasm and persistence to pursue a certain course of action (Daft & Marcic, 2008). On the other hand Sir Branson has had many failures also. Virgin Cola in a major brand extension, Branson launched Virgin Cola in 1994 failed.
Virgin Vodka failed, Virgin Brides: The wedding dress business didn't pan out either. Virgin Vie the cosmetics business started in 1997 failed also. Branson launched the Virgin Clothing collection in 1998 failed. Virgin Cars failed in 2003, Branson decided he wanted Virgin to become the next Victoria's Secret failed. The last New York Virgin Megastore closed in 2009. Virgin Flowers for a short time and failed. Branson tried to take on Apple ... he lost. "Virgin Facebook": Virgin created a social networking site in 2000 ... we just weren't ready for it. (Russell (Apr. 21, 2012)
I believe that most of these firms failed because he did not conduct the research needed or the facts of the market trends to compete successfully.
Certainly, Richard Branson’s leadership style was charismatic because charismatic leaders inspire enthusiasm in their firms and are energetic at motivating team members to move forward. This commitment and excitement from teams is of great benefit to the company as well. Sir Richard Branson’s charismatic leadership style is a great motivator also as the team members were inspired and believe in him which resulted in better...