Download - Richard Branson Case Study - q3
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Q.3) How do attributions factor into understanding the
background of Branson’s entrepreneurial development?
Before we look for answers to this question, let us look a little deeper into what “Attribution” is ….
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Attributions Theory explains the ways by which we ascertain the causes of our own behaviour and that of other people.
Can be of two types: a) Internal Attributionb) External Attribution
Different patterns observed in different cultures. For e.g. In India, mostly attributions are to external causes whereas in China, it is to internal causes.
Attributional Biases:a) Fundamental Attribution Errorb) Self-Serving Bias
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Now let us come back to the question ……
Branson’s entrepreneurial development was shaped by both external and internal attributions.
External Attributions:
Influence of Mother and Aunt:a) Independenceb) Confidence to face challengesc) Importance attached to extra – academic pursuitsd) Both Mother and Aunt were entrepreneurs
Other family influences:a) Importance attached to Teamworkb) Opinions of everyone valued as importantc) Irreverence to authority
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Internal Attributions:
• A passion for adventurea) Converted his interest to viable business ventures – Virgin Balloon Flights and Virgin Galactic.
• Risk taking ability:a) Dropped out of school to pursue his entrepreneurial interestsb) Business ventures like Virgin Railways
• Performing despite challenges – his physical deficiencies (dyslexia, vision problem) did not deter him to follow the path of fulfilling his dreams.
• A man with a vision – the Virgin Group spans over 200 companies in fields as diverse as music records to space travel.
• Informality in the organization, supporting individuals to develop their ideas into business ventures.
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“ 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.”
- Richard Branson in his autobiography “Losing My Virginity” on his decision to start an airline