The one thing that Richard Branson does well is to simplify things so that it's easy to understand for those he works with. Another area, concerning him managing his business empire, is that he also simplifies his time management.
There are basically three things he does: He commits himself to new projects, to running daily operations, and making sure the world remembers that the Virgin brand is out there; each one of them he gives an equal amount of time to.
Let's look at that from a different angle. New projects are the lifeblood of any company; it's what brings encouragement and affirms the company has a future. Both workers and customers look on it as 
something encouraging and keeps them looking for what's next.
The daily operations side of things is making sure the organism is still running smoothly and putting out fires that spring up from time to time.
Of course the continual branding of Virgin is simply another way of saying marketing. With Branson, that's his unique way of keeping the company in the minds of people all over the world through his ability to attract attention in whatever he may be doing.
When you look at things from the way he operates, it allows you to understand the overall picture of what's necessary amidst the endless stream of activities and issues that come forth from the daily running of a business or department.
You don't have to be Richard Branson with his unique personality, to be successful in how you manage. But to understand the business in the simple, easy way he looks at it, helps to keep you focused on the key ingredients that make a company grow in a sustainable manner.
Essentially it's making sure you're continually thinking of new, interesting products and services to offer; making sure you're keeping your eye on what needs to be done today; and keeping the company out there in the minds of people that you're marketing to.
Other Richard Branson Resources:
Richard Branson's Virgin Success
Thoroughly postmodern billionaire
Richard Branson's latest adventure will take Virgin into space
Richard Branson - Life - Philanthropy - Money
Richard Branson, Business Personality
Richard Branson conquered the world. Now he wants to fly you to space.
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