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 ….

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 Attribution

b) 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 Error

b) Self-Serving Bias

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

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.

“ 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