The paper 'Human Resource Development: Richard Branson" is an outstanding example of a management case study. The success of any company requires great effective management. Presently, good managers have become the most important assets that a company can ever have (Gualco, 2010). Without a good manager, a business is destined to fail. In fact, there are numerous small and large businesses that have been set up but ended up collapsing just a few months or years after their formation. The failure of most of the companies is attributed to a lack of effective managers.
Successful businesses, however, are guided by good managers something that has been demonstrated worldwide. Good managers succeed because they create a good vision for the organization, create and maintain a conducive working environment, as well as ensuring that employees are highly motivated to pursue success, as well as inspired to follow the vision of a company. Richard Branson of the Virgin Group is no doubt one of the world’ s greatest living entrepreneurs and managers. Branson came from very humble family background, having even dropped out of school to start a magazine business called “ Student” (Dearlove, 2007).
Since then, Branson has not looked behind and has emerged as one of the greatest managers, having founded the Virgin Group that is amongst the most successful businesses today. This document will discuss Richard Branson success as a manager and highlight the attributes that have contributed to his effectiveness as a manager. The document will also discuss the kind of training and development needed to enhance such attributes in people aspiring to a managerial role. Richard Branson is one of the most inspiring and successful managers of the 21st century.
Branson is a British entrepreneur who emerged from a humble background and passed his passion to become one of the most successful business managers in the world. Branson’ s story has surprised many considering that the entrepreneur dropped out of high school just at the age of 15 years to start his first business, “ Student Magazine. ” Branson says that people around him were very sceptical about his move and even advised him to continue with his education in order to be able to find a good job later when he graduates (Dearlove, 2007).
However, Branson disregarded such pieces of advice and concentrated on building his business, which he had a lot of passion. Branson later formed the Virgin record store through a partnership with his friend. After a decade of business success, Branson left his partner to venture in the airline industry. It was then that the great entrepreneur founded the Virgin Atlantic airline that is currently among the most profitable airline in Europe. Virgin Atlantic has been a strong competitor with British Airways, which gives a huge challenge after the Virgin Atlantic, introduced the low-cost airline (Branson, 2014).
In addition to the airline industry, Branson owns and runs many other successful companies that fall under the Virgin Group that have a net worth estimated at more the $10 billion. Attributes That Have Contributed To His Effectiveness as a Manager Although Branson is amongst the most effective and successful managers in the business world, it took Branson a lot to make Virgin Group succeeds despite the strong competition from rival firms. Branson has quite a number of attributes that has made him succeed, where others have failed.
Firstly, Branson is a risk-taker. Branson reveals that he is someone who is willing to try new things by venturing in business notwithstanding the risk exposure (Dearlove, 2007). According to Gualco (2010), a good entrepreneur and manager must be someone willing to take the risk since any business has risk exposure. However, as a manager, Branson has always ensured that he protects the downside. In other words, Branson always tries as much as he can to limit business exposure to losses before proceeding to start a new business venture.
This was an attribute Branson demonstrated in 1987 when he ventured into the airline industry with Virgin Atlantic. Branson made a deal with Boeing to acquire the 747 jets and operate it for one year and that Boeing would have to take back the jet after one year of operation if it does not operate as intended. So far, Branson has started more than 500 firms over two hundreds of which he has shut down for failure (Branson, 2014).
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