ContentsChapter 1: Introduction11.1 Definition of Leadership11.2 Characteristics of a Leader11.3 About the Report2Chapter 2: Leadership Theories32.1 Managerial Grid32.2 Contingency Theory32.3 Path-Goal Theory42.4 Leader-Style Theory42.5 Hersey and Blanchard Theory52.6 Transformational Leadership5Chapter 3: About Richard Branson73.1 Synopsis73.2 Early Life73.3 Virgin Records83.4 Business Expansion83.5 Virgin Galactic9Chapter 4: Virgin Group10Chapter 5: Leadership Style of Richard Branson125.1 The Emergence of Bransons Leadership Style125.2 Richard Branson in the Public Eye135.3 Branson and his Followers135.4 Richard Branson: Transformational Leader145.5 Bransons Success as a Leader15Chapter 6: Conclusion17Bibliography18

Chapter 1: Introduction1.1 Definition of LeadershipBefore a leader can be analyzed, one must define what leadership is. Jackson and Parry (2008) say that leadership is like beauty it is difficult to describe, but we certainly know it when we see it.' However, the general consensus is that leadership is influencing people in order to attain goals (Daft, 2008).Leadership is a process by which one person influences the thoughts, attitudes, and behaviors of others. Leaders set a direction for the rest of us; they help us see what lies ahead; they help us visualize what we might achieve; they encourage us and inspire us. Without leadership a group of human beings quickly degenerates into argument and conflict, because we see things in different ways and lean toward different solutions. Leadership helps to point us in the same direction and harness our efforts jointly. Leadership is the ability to get other people to do something significant that they might not otherwise do. Its energizing people toward a goal.1.2 Characteristics of a LeaderIn any group situation, the leader has a few bases of power by virtue of which he is in a position to influence the behavior of group members. They are: Knowledge, information and experience Resources for dispensing favors, rewards and penalties Formal authority Charisma Distinct personality characteristics like for example, will to dominate, ability to establish rapport, skill to communicate, identity with and understanding of people, decisiveness and soon.Skillful use of these power bases by a leader is likely to bring success to him; and success in some cases adds to the power of the leader. A successful leader gains more credibility in the eyes of people; they often tend to ignore other deficiencies in him; they resolve to adhere to him and allow themselves to be further exposed to his influence attempts.In this way some leaders entrench themselves in their positions. Some even misuse their power and often get away with it. Power carries with it an equal amount of responsibility. Leaders who relate their power with responsibility in a consistent manner are more successful in their influence than otherwise.1.3 About the ReportThis report discusses the ways in which Richard Branson is seen as a leader. It shows which leadership theories are used by him, in order to lead those that follow him, either through work or general enthusiasm for his leadership style, and how effectively those theories are applied.The report starts off with Richard Bransons early life and the beginning of his leadership. It then goes on to explain how his leadership style emerged as he began to run the Virgin Group. Later, it is explained how Richard Branson is seen by the public, and how he has followers in the public that dont work for him. After this, the researcher has considered which technical leadership theories are used by Richard Branson.

Chapter 2: Leadership TheoriesThere are several leadership theories available all over the world. Some of the most popular ones are explained below 2.1 Managerial GridRobert R. Blake and Anne Adams McCanse1 refined the Leadership Grid which identified various types of managerial leadership based on concern for production coupled with concern for people. While they consider the team management style of leadership to be ideal, they recognize that it may be difficult to implement in some work situations. Effective managers have great concern for both people and production. They work to motivate employees to reach their highest levels of accomplishment. They are flexible and responsive to change, and they understand the need to change.2.2 Contingency TheoryFred Fiedler developed a contingency or situational the-ory of leadership. Fiedler postulates that three important situational dimensions are assumed to influence the leaders effectiveness. They are: Leader-member relations: the degree of confidence the subordinates have in the leader. It also includes the loyalty shown the leader and the leaders attractiveness. Task structure: the degree to which the followers jobs are routine as contrasted with non routine. Position power: the power inherent in the leadership position. It includes the rewards and punishments typically associated with the position, the leaders formal authority (based on ranking in the managerial hierarchy), and the support that the leader receives from supervisors and the overall organization.

2.3 Path-Goal TheoryThe path-goal theory postulates that the most successful leaders are those who increase subordinate motivation by charting out and clarifying the paths to high performance. According to Robert Houses path-goal theory, effective leaders: Motivate their followers to achieve group and organizational goals. Make sure that they have control over outcomes their subordinates desire. Reward subordinates for performing at a high level or achieving their work goals by giving them desired out-comes. Raise their subordinates beliefs about their ability to achieve their work goals and perform at a high level. Take into account their subordinates characteristics and the type of work they do. 2.4 Leader-Style TheoryThe Vroom and Yetton Model describes the different ways leaders can make decisions and guides leaders in determining the extent to which subordinates should participate in decision making. The expanded version of their model, the Vroom, Yetton, Jago Model, holds that(1) Organizational decisions should be of the highest quality and (2) subordinates should accept and be com-mitted to organizational decisions that are made. The model presents methods for determining the appropriateness of leader style.2.5 Hersey and Blanchard TheoryPaul Hersey and Kenneth H. Blanchard (a co-author of the One Minute Manager) identified a three-dimensional approach for assessing leadership effectiveness: Leaders exhibit task behavior (the extent to which leaders are likely to organize and define the roles of followers and direct the work) and relationship behavior (the extent to which leaders are likely to be supportive, encouraging, and the like). The effectiveness of the leader depends on how his or her leadership style interrelates with the situation. The willingness and ability (readiness) of an employee to do a particular task is an important situational factor. This approach is easy to understand, offers suggestions for changing leadership style, and shows leaders what to do and when to do it. It focuses on the need for adapt-ability (the degree to which the leader is able to vary his or her style appropriately to the readiness level of a fol-lower in a given situation).2.6 Transformational LeadershipAccording to Bernard Bass, transformational leadership occurs when a leader transforms, or changes, his or her followers in three important ways that together result in followers trusting the leader, performing behaviors that contribute to the achievement of organizational goals, and being motivated to perform at a high level. Trans-formational leaders: Increase subordinates awareness of the importance of their tasks and the importance of performing well. Make subordinates aware of their needs for personal growth, development, and accomplishment. Motivate their subordinates to work for the good of the organization rather than exclusively for their own personal gain or benefit. Building on Basss contributions, Tichy and Devanna identified the characteristics of transformational leaders as follows: They identify themselves as change agents. They are courageous individuals. They believe in people. They are value-driven. They are lifelong learners. They have the ability to deal with complexity. They are visionaries.

Chapter 3: About Richard Branson3.1 SynopsisBorn on July 18, 1950, in Surrey, England, Richard Branson struggled in school and dropped out at age 16a decision that ultimately lead to the creation of Virgin Records. His entrepreneurial projects started in the music industry and expanded into other sectors making Branson a billionaire. His Virgin Group holds more than 200 companies, including the recent Virgin Galactic, a space-tourism company. Branson is also known for his adventurous spirit and sporting achievements, including crossing oceans in a hot air balloon.3.2 Early LifeRichard Charles Nicholas Branson was born on July 18, 1950, in Surrey, England. His father, Edward James Branson, worked as a barrister. His mother, Eve Branson, was employed as a flight attendant. Richard, who struggled with dyslexia, had a hard time with educational institutions. He nearly failed out of the all-boys Scaitcliffe School, which he attended until the age of 13. He then transferred to Stowe School, a boarding school in Stowe, Buckinghamshire, England.Still struggling, Branson dropped out at the age of 16 to start a youth-culture magazine calledStudent. The publication, run by students, for students, sold $8,000 worth of advertising in its first edition, which was launched in 1966. The first run of 50,000 copies was disseminated for free, after Branson covered the costs with advertising.By 1969, Branson was living in a London commune, surrounded by the British music and drug scene. It was during this time that Branson had the idea to begin a mail-order record company called Virgin to help fund his magazine efforts. The company performed modestly, but made Branson enough that he was able to expand his business venture, adding a record shop in Oxford Street, London. With the success of the record shop, the high school drop-out was able to build a recording studio in 1972 in Oxfordshire, England.3.3 Virgin RecordsHis first artist on the Virgin Records label, Mike Oldfield, recorded his single "Tubular Bells" in 1973 with the help of Branson's team. The song was an instant smash, staying on the UK charts for 247 weeks. Using the momentum of Oldfield's success, Branson then signed other aspiring musical groups to label, including the Sex Pistols. Artists such as the Culture Club, the Rolling Stones, and Genesis would follow, helping to make Virgin Music one of the top six record companies in the world.3.4 Business ExpansionBranson expanded his entrepreneurial efforts yet again, this time to include the travel company the Voyager Group in 1980, the airline Virgin Atlantic in 1984, and a series of Virgin Megastores. But Branson's success was not always predictable. By 1992, Virgin was suddenly struggling to stay financially afloat. The company was sold later that year to THORN EMI for $1 billion.Branson was crushed by the loss, reportedly crying after the contract was signed, but remained determined to stay in the music business. In 1993, he founded the station Virgin Radio, and several years later he started a second record company, V2. Founded in 1996, V2 now includes artists such as Powder Finger and Tom Jones.Branson's Virgin Group now holds more than 200 companies in more than 30 countries, including the United Kingdom, the United States, Australia, Canada, Asia, Europe and South Africa. He has expanded his businesses to include a train company, a luxury game preserve, a mobile phone company and a space-tourism company, Virgin Galactic.Branson is also known for his sporting achievements, notably the record-breaking Atlantic crossing in Virgin Atlantic Challenger II in 1986, and the first crossing by hot-air balloon of the Atlantic (1987) and Pacific (1991). He was knighted in 1999 for his contribution to entrepreneurship, and in 2009, he landed at No. 261 onForbes' "World Billionaires" list with his $2.5 billion in self-made fortune, which includes two private islands.3.5 Virgin GalacticIn recent years, the ever-adventurous Branson has focused much of his attention on his space tourism venture. He partnered with Scaled Composites to form The Spaceship Company, which is currently developing a suborbital spaceplane, and, in April 2013, the project made an impressive leap forward with the test launch ofSpaceShipTwo.Branson was delighted by the success of his spaceship's first test, telling NBC News that "We're absolutely delighted that it broke the sound barrier on its very first flight, and that everything went so smoothly." He expects to be finishing testing the craft by the end of 2013. By April 2013, more than 500 people had bought their tickets for Virgin Galactic's voyages.Chapter 4: Virgin GroupLed byvisionary founder, chairman, and owner Sir Richard Branson, holding company Virgin Group gets around. The group's travel-related operations,led by 51%-ownedVirgin Atlantic Airways, are among itslargest cash generators. The airlineflies toabout 35 destinations around the world with a fleet ofalmost 40 aircraft. Virgin Atlantic is complemented by its Australian low-fare cousin,Virgin Blue, whichoperates a fleet ofsome 80 aircraft. Virgin Group alsorunsVirgin Railand sells tour packages. Besides travel and leisure, the group's major operating areas include financial services and telecom (Virgin Media). Virgin,with offices in some 30 countries,was established in 1970.Branson has made Virgin one of the most recognizable brands in the world by plastering it on everything from balloon flights to wine, representing200 companies. Rather than maintaining full ownership of the companies, Branson typically has entered new businesses via partnerships with other investors or by licensing the Virgin brand name.Virgin GroupalsorunsVirgin America, a luxury low-fare carrier (sweet deals, unexpected amenities)based out of San Francisco. The US airline licenses theVirgin brand and borrows heavily from the Virgincustomer-experienceplaybook. Nonetheless, Virgin Group is limited by US law to a minority stake in the carrier. Its destinations include about 10major US cities.The group continues to look for growth opportunities to offset the airline industry's ups and downs. Emerging Virgin projects include stem-cell storage, alternative energy, and other innovations that strike Sir Richard's fancy. Virgin's space tourism division, Virgin Galactic,hopes to one day offer holiday packages that include views of earthrise. The space line'sfirst spacecraft -- the six-passenger, two-pilotSpaceShipTwo -- will undergo continued testingby its builder,Scaled Composites,throughout 2012with the hopeof offering commercial space flight in 2013 or 2014 at $200,000 a ticket.The company launched into another sector in 2010 when it formed Virgin Care, fueled by the purchase ofa 75% interest inAssura Group'sAssura Medical. The British health care provideroffers more than 80NHSservices in the UK. The move followed Virgin's introduction of Virgin Digital Help. In partnership withSutherland Global Services, the help line caters to consumers struggling with such IT gadget gaffes as wireless networks failing tonetwork, PCs crashing, and game consoles not playing nice with peripheral equipment.

Chapter 5: Leadership Style of Richard Branson5.1 The Emergence of Bransons Leadership StyleRichard Branson is the CEO of the Virgin Group, which consists of many companies, all bearing the infamous Virgin logo. Virgin began as a simple mail order company selling records, eventually setting up shops and a recording studio. However, at this stage he was heavily in debt, and in order to pay it off, he expanded the business quickly. After this, he launched Virgin Rags, a clothing company with his then wife, Kirsten Tomassi. From there, the business went from strength to strength, obtaining a record deal with the Sex Pistols and launching Virgin Atlantic Airlines (Grint, 2000).Because Richard Branson leads the Virgin Group, rather than just one company within the group, it is harder to define what type of organization the Virgin Group is. Certainly, it is a corporate one. But Virgin is more than that. Upon starting Virgin Atlantic Airlines, Branson himself claimed were still in the entertainment industry at 25,000 feet (Grint, 2000). If we assume that Branson considers himself still to be in the entertainment industry, then, he must offer all his products and services with entertainment in mind. Following on from this, one must consider how Branson leads an entertainment corporation when there are good ranging from books to cola and services such as satellite television and space tourism.Being the leader of a huge organization in the entertainment has greatly affected Bransons leadership style. His style of working for fun that is work-driven rather than fun for funs sake has been leaked through the company, so that everyone, ranging from senior managers to retail staff and air hostesses work with this philosophy in mind (Grint, 2000)5.2 Richard Branson in the Public EyeRichard Branson is one of the UKs most famous and successful business leaders. The results of a survey that first appeared in the Financial Times explain how Richard Branson is seen as a maverick, encouraging people to do things differently (Boddy, 2005: 454). Robbins and Judge (2009: 419) describe Branson as fun loving, sensitive to the needs of others, hard working, innovative, charismatic, enthusiastic, energetic, decisive, and risk taking. The above traits that Branson possesses have proved him to be a great leader of such a successful organization. He is perceived as a socially conscious entrepreneur, setting up Virgin Unite to look at entrepreneurial methods when it comes to environmental and societal issues. In addition to this, he has also set up the Virgin Green Fund which deals with renewable resources (The Telegraph, 2012).Bransons employees obviously love him. On several occasions, he has been voted Britains favorite boss. According to Dearlove (2007), working for Branson is an adventure, simply because of the way he motivates people. This is a key skill to have as a leader. His staff only ever has praise for him because, since the beginning of Virgin, he has organized bonding sessions with his employees in order to encourage staff loyalty. He refers to everyone who works for him as his family. (Dearlove, 2007)5.3 Branson and his FollowersHis followers include many, from those who are led by him as a matter of their job, to managers who strive to lead like him. Branson also leads other business leaders. Today, many people speak of how Google and Facebook are great companies to work for, because of the laissez-faire leadership style and the laid back approach to working.However, it can be said that Branson had this in Virgin before Mark Zuckerberg was even born. Thus, he led the way to this style of leadership.In addition to this, Branson is renowned for his socially conscious way of thinking. He believes that companies should work for something beyond mere profits. Again, Zuckerberg has followed Branson in this train of thought, stating that these days, I think more and more people want to use services from companies that believe in something beyond simply maximizing profits (The Telegraph, 2012).As for Bransons followers, one only has to look at the declarations in Dearloves book (2007), where people announce in pubs I work for Richard Branson. They are proud to follow him because he is such a great leader.5.4 Richard Branson: Transformational LeaderRichard Bransons leadership style is definitely that of transformational leadership. According to Robbins and Judge (2009), transformational leaders are leaders who inspire followers to transcend their own self-interests and who are capable of having a profound and extraordinary effect on followers. This style of leadership gives followers a vision to work towards alongside a sense of pride. This can be further described as idealized influence, inspirational motivation, intellectual stimulation and individualized consideration. Idealized influence ensures that leaders are trusted and respected by their followers because they are active in the leadership process. Branson is definitely trusted and respected by those that follow him, because as previously mentioned, those that are in employment in the Virgin Group frequently declare their love for Branson. In addition to this, inspirational motivation allows the leader to communicate what their expectations of their followers are. Leaders can show followers important goals and strategies in simple, yet effective, ways. Intellectual stimulation allows the leader in question to promote cognitive abilities, such as problem solving and rationality. Branson does this by delegating work as much as possible. He also treats each company within the Virgin Group as a totally separate entity. He allows the managers of each of the companies in the Virgin Group to manage on their own merit. Finally, individualized consideration means that the leader can treat each employee personally with individualized coaching and advice (Robbins and Judge, 2009).5.5 Bransons Success as a LeaderRichard Branson is a successful leader. This is shown in how willing people are to declare that they work for him. Its also seen in how he has managed to set up a corporate empire, with a globally recognizable brand without any prior knowledge of any of the industries that he has moved into. Branson never succeeded in academia due to dyslexia, but he has a profound ability to connect to other people and to get them to do things his way. He doesnt have an MBA, but simply great interpersonal skills.If we think back to the definition of leader at the beginning of this analysis, a leader is someone who influences people in order to attain goals (Daft, 2008). This is definitely true in Richard Bransons case. He has influenced thousands of followers, both those that are employed by him and those that follow him because he is so successful.There are numerous reasons that explain why Branson is a good leader. For example, Robbins and Judge (2009) state that he is a transformational leader. They then go on to explain how only those leaders who are transformational can motivate their followers in such a way that they perform above and beyond expectations.In addition to this, he can be described as a good business leader because he has managed to make Virgin Atlantic Airlines a success in a market that was full of long-established firms such as British Airways and American Airlines.Branson can also be described as a good leader because he has been in business for more than forty years, constantly building on his empire and ensuring that those that work for him remain loyal to him. He has been so influential, that he managed to get those that worked on Student to do so for no payment. In addition to this, his own philosophy of working for fun has filtered down throughout the company, so that it has become the philosophy for all those who work for Branson.

Chapter 6: ConclusionAfter analyzing Richard Branson as a leader, it can be said that, he is a leader who gets his ideas across quite well. He manages to ensure that his followers get things done his way through his transformational leadership, while maintaining high standards across all the companies within the Virgin Group. Essentially, Richard Branson is the Virgin brand, and this is because he has been so successful at how he has led the company. He is as closely associated with the brand as Steve Jobs was with Apple.Richard Branson is respected as a leader simply because he is so good at it. While his official title may be CEO of the Virgin Group, he is so much more than that. His leadership style is built into that title. And because of that, it would be hard for anyone to take over that position without being constantly compared to Branson. As well as this, Branson is an inspiration to everyone as he was listed as the fourth richest citizen in Great Britain, with a net worth of $4.2 billion, without ever going to university. This will give hope to younger people who cant manage to get into third level institutes.There are many things one could learn from Richard Bransons leadership. While Bransons style of leadership has been classified into a transformational leader, it is believed that he brings something extra to that style of leadership. I think that his interpersonal skills are excellent, which is invaluable trait to have as a leader. While anyone can read any of the numerous leadership books out there, there are some skills that leaders require that can only be learned by being led by a leader who already has those skills. I believe that Richard Branson is one of the few successful, well-known leaders that could offer that. He is all those things that come to mind when someone tries to define a leader: inspirational; motivational; gets the right things done.Bibliography Boddy, D. (2005) Management: An Introduction, 3rd ed. Essex: Pearson Education Ltd. Daft, R. (2008) New Era of Management, 2nd ed. Mason: Thomson Higher Education Dearlove, D. (2007) Business the Richard Branson Way, 10 secrets of the Worlds Greatest Brand Builder. 3rd ed. Chichester: Capstone Publishing Ltd. Grint, K. (2000) The Arts of Leadership, Oxford: Oxford University Press Jackson, B. & Parry, K. (2008) A Very Short, Fairly Interesting and Reasonably Cheap Book About Studying Leadership, London: Sage Publications Ltd. Robbins, S.P. & Judge, T.A. (2009) Organizational Behavior, 13th ed. New Kersey: Pearson Prentice Hall http://www.telegraph.co.uk/sponsored/earth/the-age-of-energy/contributors/9066571/Richard-Branson-profile.html [accessed 19:32, 05/04/2015) http://blogs.telegraph.co.uk/news/geoffreylean/100136514/mark-zuckerberg-and- richard-branson-business-prophets-who-look-beyond-profits/ [accessed 19:42, 05/03/2012]

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