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 ...view middle of the document...
On the other hand, charisma and motivation can only move a firm so far then the research and market trends and condition will take over.
The transformation of Sir Richard Branson’s company in the global market are asserted by him starting a small business from starch and building it into a large profitable entities (Deresky, 2011) One example of Sir Richard Branson’s small to large business assertion is how he built Atlantic Airways. He also does not miss any opportunity to promote his brands as well.
Moreover, the future prospects in the global market for Sir Richard Branson’s companies are in the financial business. Virgin Money is jumping into the wholesale mortgage in a time when most lenders are leaving it. (Deresky, 2011)
Virgin Money is a group of UK and U.S financial services businesses under the common ownership of Virgin Money Holdings (UK) Ltd. Virgin Money plc, is the UK mortgage and savings bank formerly known as Northern Rock plc, which became part of Virgin Money in January 2012 and changed its name to Virgin Money plc. on 12th October 2012. ( Case Study2008) Sir Richard Branson new venture is an assertion of his old strategy as the firm implies that ,”we believe a bank should be about more than just money” and. “at the heart of everything we do is our ambition to make everyone better off”
Moreover he asserts that “We aim to do this by offering good value to customers, looking after our employees, making a positive contribution to the communities we serve and delivering a fair profit to our shareholders.’ And by being open, honest, fair and transparent, we believe we can help to make banking better for everyone.
Certainly, I do agree with Sir Richard Branson overall strategy as his latest offering is a cost efficient and effective brand that asserts humanity as its guide to a profitable firm.
I think that Sir Richard Branson’s pledge towards renewables energy source is great because it is an innovative industry idea that has many growth opportunities for new firms. The current budget for research in the United States renewable energy sources like, hydrogen and farmed fuels wind, solar is about $1 billion a year however, that amount is far less than what was spent during the oil shock of the 1970’
Moreover, many professionals assert that government...