Richard Branson - the founder and owner of the group , an
empire of 350 companies that
includes virgin Atlantic airlines as well as
ventures in other industries like telecommunication , trains, cosmetics and
credit cards - says his goal is to turn virgin into the most respected brand in
the world , Branson's skills as a brand
builder is one of the reasons underlying his longevity as a business leader .
it is difficult to separate the success of the Virgin brand
from the flamboyant man behind that
brand . He travels the world weekly, reinforcing his good-natured, visible, jet.
setting, billionaire reputation- a reputation like the
reputation of the companies he owns. Generally speaking, I think being a
high-profile person has its advantages, he says advertising costs enormous of
money these domestic airline , and we ended up getting on the front pages of
the newspaper . the costs of that in advertising terms would have been
considerable .
what is the most important quality of a good leader??
Being someone who cares about people is important , he says
: you cant a good leader unless you generally like people . that is how you
bring out the best in them .
how does a man who owns 350 companies get it all done ?
Branson places enormous value on time- management skills.
as chairman of a large group of firms, Branson says he spends about a third of his time on trouble
-shooting another third on new project, both charitable and business,
and the last third on promoting and talking about the business he has set up.
As much as you as you need a strong personality to build a business from
scratch, you must also understand the art of delegation, says Branson. I have
to be good at helping people run the individual businesses, and I have to be
willing to step back. The company be set up so it can continue without me.
In order for this process to work, employees must be happy.
Branson says his philosophy of look for the best and you will get the best'
helped him build an empire recognized for its fun culture, for the people who
work for you or with you, you must
lavish praise on them all times; Branson
says. Its much more fun looking for the best in people. Slipped up or
made a mess something. They will sort it out themselves. Branson feels strongly
that if an employee is not excelling in one area of the company, he or she
should be given group job firing is seldom an option .
Mutational strategies extend to innovation ideas. The key
to encouraging innovation within the
Virgin ranks, suggests Branson, is to listen to any and all ideas and to offer
often leave companies, he reasons, because they are frustrated by fact that
their ideas fall on deaf ears. Interaction between employees and managers is
fundamental. Branson has developed a level of trust with his top managers bay
setting the direction and then stepping back to let them navigate. 'I come up
with the original idea. Spend the first three months immersed in the business
so I know the ins and outs and then give chief executives a stake in the
company and ask them to run it as if it's their own, explain Branson . I intervene as little as possible. Gice them
that, and they will give everything back .'
