‘Leadership is a driving force which gets things done by others’ POM ASSIGMENT #2Deepankar Kapoor, #76, Advertising, TYBMS, SIMC(UG) LOGO
Sir Richard Branson Factfile: Born July 18, 1950, England Married, 2 children Transformation leader Virgin Group 360 companies Companies cost 25 billion $ 55000 employees
How he began? When he was 16 years old, he dropped out of school to move to London and launch Student Magazine, which did relatively ore success At 19 he founded the Virgin mail order record company Success in selling mail order records, opening of a record shop than launched own record label, Virgin Records. On May 25, 1973, the Richard Branson biography took on a whole new dimension with the release of Mike Oldfields – the first release for Virgin Records , which quickly became a best seller throughout England = GREAT SUCCESS
Way to the Top Virgin Landmarks1980s 2000s•Virgin Records go •Launches Virgininternational Blue•Virgin Atlantic •Launched VirginAirways & Virgin GalacticCargo are launched •Launched Virgin•Virgin group now Health Bankincludes record 1990s •Launches Virginlabels, retail outlets, •Virgin megastores Mediaexport music arrives in Japan •Virgin Fuelpublishing, •Virgin Publishing US$400 million inbroadcasting, •Virgin records is Virhin Atlantic Jetsatellite, TV, film & sold to Thorn EMI Flight on biofuelsvideo distribution •Launch of Virgin and in renewable•Virgin Airship & Vodka & Virgin energyBalloon Company Cola •Virgin Express •Virgin Mobile
Branson’s Empire 1 2 3 4Travel & Tourism Leisure & Pleasure Media & Finance & MoneyVirgin – •Virgin Games Communication •Virgin Money•Atlantic •V Festival •Virgin 1 Social &•Holidays •The Virgin Voucher •Broadband Australia Enviornment•Trans •Virgin Experience •Virgin Connect •Virgin Earth•Blue Days •Virgin Media •Virgin Green Fund•Blue Holidays Shopping •Virgin Mobile •Virgin Unite•Limited Edition Books, Drinks, •Virgin Radio Health•America, Charter, Megastore USA, International Life Care, Active,Nigeria, Cruises, etc Wines, etc. Spa, etc.
Virgin BrandBranson does not run his business by strategies, he once told.Instead, he keeps a „to-do-list‟, that he writes at the beginning of each day.Branson has taken steps to define a strategy for the Virgin Group in recent years – Branded Venture Capitalism was what his strategy advisor called it.
Branson – Main Characteristics Finding the right people Branson’s Skills Inspiring them •PR Genius- he Drawing out the best things understands what the media wants and Love learning gives it to them Inquisitive mind •He is likeable. He Life is a one learning process know when to disappear Ability to connect with people Innovative approach to the business “I‟m not good at theory. Almost everything I‟ve learned, I‟ve learned by doing” “Topping my list of gut feelings is this: business has to give people enriching rewarding lives, or it‟s simply not worth doing.”
Some Simple StrategiesSize does matter: you need to challenge and compete with big brands to become big yourselfTake it easy, mix fun with work.Remember all work and no play, makes Jack a dull boy Haggling is possible in every business- it brings down pricesMingle like a common man, go ahead like a bulletBe camera/media- friendly
Non Business Life Branson is also known for his personal adventures 1986 smashed the world record for the fastest crossing of the Atlantic In 1987/1991 Branson across the Atlantic Ocean in the „Virgin Atlantic Flyer‟, which was the 1st ocean & largest hot air balloon to cross the ocean. In March 2004, Branson set a record by crossing the English Channel between Britain & France on an amphibious vessel- in record time in 1hour , 40 min & 6 sec.
Summary of the main characteristics Values & Beliefs •He says that he Strategy never listens to Core Values •Listen to people. critics Encourage •He’s a sponge for•Helping people communication & new ideasachieve things that feedback. •Inspire people tothey did not know •Integrate think likethey were capable personnel into entrepreneursof other parts of the •You and everyone•Being a catalyst to organisation . around you willthe success of make mistakesothers•Constantlylearning.
Leadership Qualities Art of Delegation Inspire people to think like “Employee should be given entrepreneurs, and the opportunity to do well whatever you do, treat in a different Virgin Group them like adults. The Job. Firing is seldom an hardest taskmaster of all is option” a person‟s own conscience, Interaction between so the more responsibility employers & managers is you give people, the better fundamental- Chance to they will work for you. get heard There are many ways to The key to encouraging run a successful company. innovation within the What works once may Virgin ranks, suggest never work again. Branson, is to listen to any and all ideas and to offer feedback.