Sir Richard Branson

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Sir Richard Branson

  1. 1. SIR RICHARD BRANSON<br />DEVELOPMENT OF AN<br /> ENTREPRENEUR<br />Presented By: -<br />Pallavi Gupta 500901036<br />RomilaRaina 500901054<br />ShrayJali 500901062<br />Sumit Sharma 500901063<br />
  2. 2. SIR RICHARD BRANSON<br /><ul><li>Born July 18, 1950, England
  3. 3. Virgin Group > 360 companies
  4. 4. Companies cost  $ 25 billion 
  5. 5. 55 000 employees </li></ul>« A Frugal Billionaire » <br />« Is an English industrialist (business magnate) » <br />« The quintessential entrepreneur » <br />
  6. 6. Milestones<br />He was knighted in 1999 for his  “Services to <br />entrepreneurship“ <br />Sir Richard appears at No. 85 on the 2002  list of <br />“100 Greatest Britons”<br />Sir Richard was also ranked in 2007&apos;s Time <br />Magazine &quot;Top 100 Most Influential People in the World&quot;. <br />On 7 Dec 2007, United Nations Secretary presented Branson with the United Citizen of the World Award for his  support for environmental and humanitarian<br /> causes <br />
  7. 7. “My interest in life comes from setting myself  huge, apparently  unachievable challenges  and trying to rise above them…from the  perspective of wanting to live life to the full, I  felt that I had to attempt it”. <br />
  8. 8. When he was 16 years old, he dropped out of school to move to London and launch Student Magazine, which did<br /> relatively more  success.<br />At 19 founded the Virgin mail order record company<br />Success in selling mail order records, opening of a  record shop  then  launched own record label, Virgin  Records.  <br />On May 25, 1973, the Richard Branson biography  took  on a  whole  new dimension with the release of Mike Old fields ‐the first release  for Virgin Records, which quickly became a best‐seller throughout  England <br />  GREAT SUCCESS <br />How he began <br />
  9. 9.
  10. 10. Top known companies <br />Virgin Records music label <br /> Virgin Atlantic Airways (USA) <br /> Virgin Mobile (India) <br /> Virgin Media (UK&apos;s fastest broadband) <br /> Virgin Blue Australia <br /> Virgin Galactic <br />
  11. 11. Branson’s Empire <br />
  12. 12. Virgin brand <br />Branson didn’t  run his businesses by <br /> strategies.<br />Instead, he keeps a ‘to do’ list, that he writes at the beginning of each day.<br />In recent years,Branson has taken steps to  define a strategy for the Virgin Group ‐ Branded Venture  Capitalism was what his strategy advisor called it. <br />
  13. 13. • Size does matter: you need to challenge and compete with big brands to become big yourself. <br />• Take it easy, mix fun with work.  <br />• Haggling is possible in every business ‐ it brings down prices. <br />• Mingle like a common man, go ahead like a bullet.<br /> • Be camera / media‐ friendly<br /> Some simple strategies <br />
  14. 14.
  15. 15. Main characteristics <br />• Ability to connect with people.<br />• Innovative approach to the business.<br /> •Like challenges and always disengage difficulties.<br />•I’m not good at theory.Almost everything I’ve learned, I’ve learned  by doing.<br /> •Topping my list of gut feelings is this: business has to give people  enriching, rewarding lives, or it’s  simply  not worth doing. <br />
  16. 16. STRATEGY<br />• Listen to people<br />Encourage communication and feedback.   <br />• Integrate personnel into other parts of organization.<br />BRANSON&apos;S SKILLS<br />•Public Relations genius ‐he <br />understands what the media wants and gives it to them. <br />• He is likeable. He knows when to disappear.<br />CORE BELIEFS AND VALUES <br />• Helping people achieve things that they did not know they were capable of <br />• Being a catalyst to the  success of others <br />•Constantly learning <br />VALUES AND BELIEFS<br />•He says that he never listens to<br />  critics. <br />• He is a sponge for new ideas<br />•Inspire people to think like <br /> Entrepreneurs<br />
  17. 17. Characteristics of Richard Branson<br />
  18. 18. Personality <br /><ul><li>Quiet, serious, sensitive and kind. Do not like conflict, and not likely to do things which may generate conflict
  19. 19. Loyal and faithful. Extremely well developed senses, and aesthetic appreciation for beauty
  20. 20. Not interested in leading or controlling others
  21. 21. Flexible and open-minded. Likely to be original and creative. Enjoy the present moment. </li></ul>ISFP<br />Introvert Sensing Feeling Perceiving <br />
  22. 22. Leadership Skills<br /><ul><li>Employee Empowerment
  23. 23. Patiently listens to Employees’ ideas
  24. 24. Not a conventional business person
  25. 25. Never forces a consensus
  26. 26. Energizes people towards higher performance
  27. 27. Collaborating, Competing, Compromising, Avoiding, Accommodating</li></ul>Leadership Style: Participative<br />
  28. 28. Adjusting leadership theories <br />Blake and Mouton’s Managerial Grid<br />
  29. 29. Leadership theories<br />Transformational Leadership-<br /> Focused on bringing about changes in organization by building vision, securing commitment and empowering people.<br />Path Goal Theory(Participative Leadership)- <br /> Leaders to provide information, support and resources to help followers achieve the goals.<br />
  30. 30. Situational Theory (Hersey & Blanchard):High concern for relationship and low concern for task i.e. Participative behavior.<br />Ohio State Studies:He is a consideration type of leader who believe in fostering informal relations. Establish warm, friendly and supportive climate for the subordinates to perform well.<br />Leadership theories<br />
  31. 31. Leadership qualities<br />Art of delegation… I have to be good at helping  people run the individual businesses…<br />Branson says his philosophy of  &quot;look for the best and  you&apos;ll get the best&quot; helped  him build an  empire recognized for its young, fun culture…<br />•“If a flower is watered, it flourishes. If not, it shrivels up & dies.” Employee should be given the <br /> opportunity to do well in a different Virgin Group  job. Firing is seldom an option… <br />
  32. 32. Leadership qualities<br />Motivational strategies extend to innovative ideas. The key to encourage innovation within the Virgin  ranks, suggests Branson, is to listen to any and  all ideas and to offer feedback.<br />Inspire people to think like entrepreneurs, and  whatever you do, treat them like adults.<br />“One thing is certain in business. You & everyone around you will make mistakes.You have to trust  people  around you to learn from their mistakes.  Blame and recriminations are  pointless.” <br />
  33. 33. Team Spirit<br /><ul><li>Family oriented
  34. 34. Good in sports
  35. 35. Flexible
  36. 36. Open-minded
  37. 37. Welcomes different ideas and does not impose his decisions on employees
  38. 38. Had his own Advisory team
  39. 39. Abilene Paradox:Avoids Conflicts</li></li></ul><li>Thank you<br />

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