virgin, richard, branson, entrepreneur, organizational behaviour

1. SIR RICHARD BRANSON DEVELOPMENT OF AN ENTREPRENEUR Presented By: - Pallavi Gupta 500901036 RomilaRaina 500901054 ShrayJali 500901062 Sumit Sharma 500901063

3. Virgin Group > 360 companies

4. Companies cost $ 25 billion

5. 55 000 employees « A Frugal Billionaire » « Is an English industrialist (business magnate) » « The quintessential entrepreneur »

6. Milestones He was knighted in 1999 for his “Services to entrepreneurship“ Sir Richard appears at No. 85 on the 2002 list of “100 Greatest Britons” Sir Richard was also ranked in 2007's Time Magazine "Top 100 Most Influential People in the World". On 7 Dec 2007, United Nations Secretary presented Branson with the United Citizen of the World Award for his support for environmental and humanitarian causes

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”.

8. When he was 16 years old, he dropped out of school to move to London and launch Student Magazine, which did relatively more success. At 19 founded the Virgin mail order record company Success in selling mail order records, opening of a record shop then 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 Old fields ‐the first release for Virgin Records, which quickly became a best‐seller throughout England GREAT SUCCESS How he began

10. Top known companies Virgin Records music label Virgin Atlantic Airways (USA) Virgin Mobile (India) Virgin Media (UK's fastest broadband) Virgin Blue Australia Virgin Galactic

11. Branson’s Empire

12. Virgin brand Branson didn’t run his businesses by strategies. Instead, he keeps a ‘to do’ list, that he writes at the beginning of each day. 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.

13. • Size does matter: you need to challenge and compete with big brands to become big yourself. • Take it easy, mix fun with work. • Haggling is possible in every business ‐ it brings down prices. • Mingle like a common man, go ahead like a bullet. • Be camera / media‐ friendly Some simple strategies

15. Main characteristics • Ability to connect with people. • Innovative approach to the business. •Like challenges and always disengage difficulties. •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.

16. STRATEGY • Listen to people Encourage communication and feedback. • Integrate personnel into other parts of organization. BRANSON'S SKILLS •Public Relations genius ‐he understands what the media wants and gives it to them. • He is likeable. He knows when to disappear. CORE BELIEFS AND VALUES • Helping people achieve things that they did not know they were capable of • Being a catalyst to the success of others •Constantly learning VALUES AND BELIEFS •He says that he never listens to critics. • He is a sponge for new ideas •Inspire people to think like Entrepreneurs

17. Characteristics of Richard Branson

19. Loyal and faithful. Extremely well developed senses, and aesthetic appreciation for beauty

20. Not interested in leading or controlling others

21. Flexible and open-minded. Likely to be original and creative. Enjoy the present moment. ISFP Introvert Sensing Feeling Perceiving

23. Patiently listens to Employees’ ideas

24. Not a conventional business person

25. Never forces a consensus

26. Energizes people towards higher performance

27. Collaborating, Competing, Compromising, Avoiding, AccommodatingLeadership Style: Participative

28. Adjusting leadership theories Blake and Mouton’s Managerial Grid

29. Leadership theories Transformational Leadership- Focused on bringing about changes in organization by building vision, securing commitment and empowering people. Path Goal Theory(Participative Leadership)- Leaders to provide information, support and resources to help followers achieve the goals.

30. Situational Theory (Hersey & Blanchard):High concern for relationship and low concern for task i.e. Participative behavior. 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. Leadership theories

31. Leadership qualities Art of delegation… I have to be good at helping people run the individual businesses… Branson says his philosophy of "look for the best and you'll get the best" helped him build an empire recognized for its young, fun culture… •“If a flower is watered, it flourishes. If not, it shrivels up & dies.” Employee should be given the opportunity to do well in a different Virgin Group job. Firing is seldom an option…

32. Leadership qualities 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. Inspire people to think like entrepreneurs, and whatever you do, treat them like adults. “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.”

34. Good in sports

35. Flexible

36. Open-minded

37. Welcomes different ideas and does not impose his decisions on employees

38. Had his own Advisory team