The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. Stay laser focused and don't procrastinate. By Andrew Fayad, CEO of ELM Learning, a creative agency focused on designing custom multimedia and digital learning experiences. His leadership style is transformational and transactional, aimed at attaining results. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. Musk is a perfect case study for someone whose work ethic is fueled by his passion. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. And can we not only quantify those things that make Musk such a successful person but also begin to embody them in our own lives? It also sets a good example for others to follow. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. Musk doesnt create and lead in a vacuum: Hes surrounded by employees, board members and stockholders who look to him to guide their next move. However, there's no denying that Elon Musk deserves a spot near the top of that list. This leadership style's strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. Top editors give you the stories you want delivered right to your inbox each weekday. I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. Jun 21, 2022 However, Musk does it in a healthy, constructive way. On Teslas blog, Musk gave his rebuttal to the public, For consumers concerned about fire risk, there should be absolutely zero doubt that it is safer to power a car with a battery than a large tank of highly flammable liquid.15 Opinions expressed by Entrepreneur contributors are their own. 1. He then tried to pull out of the deal in July, before finally taking ownership in October. Leadership Qualities of Elon Musk and Learnings Oct. 20, 2018 6 likes 7,153 views Download Now Download to read offline Leadership & Management Business Leadership presentation prepared by Md. SpaceX almost went bankrupt. Elon Musk has always been remembered as a transformational autocratic leader. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. (2021). Musk once said, If something is important enough, even if the odds are against you, you should still do it. Write an article and join a growing community of more than 160,400 academics and researchers from 4,572 institutions. They have a strong sense of themselves and what they stand for (Northouse, 2019). He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. What Elon Musk has . Introduction. In addition to self reflection, gather feedback from your colleagues and team, and use any constructive comments to improve processes, relationships and performance in the office. Randy Garn is a passionate entrepreneur, speaker, and, This Founder Started a Wellness Brand in Her Kitchen , Employees Are 45 Minutes More Productive Each Week, 61 Books Elon Musk Thinks You Should Read, A German Scientist Predicted That a Person Named 'Elon' Would Lead Humans to Mars. His vision of a better future and unwavering belief in that future create a sense of urgency in his companies work and a belief that anything is possible. Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). Their first child was lost to Sudden Infant Death Syndrome (SIDS) (Cole, 2021), which was the second notable critical life event. In the modern capitalistic world where the top executives stay away from places like factories. While Musk's business ventures have been driven by his unique vision, Musk takes very little input and often makes impulse decisions that haven't been vetted by team members. As a child, Musk had a passion for science fiction books and movies. Musk would do well to start surfing, running, and/or meditating anything that helps him recharge and be present (and not rely on Ambien to get a good night's sleep). An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. Authentic Leadership: What It Is & Why Its Important | HBS Online. He loves what he's doing because he does what he loves. He's quite possibly a genius. Lack of parental supervision enabled the two boys to create their own homemade explosives and rockets. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. All he focused on was the task at hand. Learn More Every Day with This 2023 CES-Honored Knowledge App. 3 (May/June 1992). Using his own money from the sale of Paypal, Musk started SpaceX, a company dedicated to lowering the costs of space travel. During these times, he didn't think about anything else. By clicking Sign up, you agree to receive marketing emails from Insider I've known too many people who attempt to bring a certain amount of intensity to their work and burn out, break down or go too far. What Might That Mean For The Economy? Northouse, P. G. (2018). https://www.biography.com/business-figure/elon-musk. They had six children together: all sons. But he could now face interest payments to lenders of up to US$1 billion a year unless Twitters financial health can be turned around. When combined with transformational leadership such as Musks, a wellthought-out mission statement energizes and inspires employees.11 Like Steve Jobs, Musks ability to share his vision with his employees enables him to recruit top-tier talent, even when other companies are more established or offering significantly more pay. Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. He is a force of knowledge that is easily recognizable not only from his long history of business endeavors, but also by his connection to his followers. Elon Musk exemplifies the creative side of autocratic leadership. Bhd. He has a vision of a world that is no longer reliant on fossil fuels, is maximizing their use of green energy, and is exploring space and building colonies on Mars (Jacoby, 2011). Just like other visionaries before him such as Steve Jobs, Mark Zuckerberg and Larry Page, Musk is changing the world through following his passion, pursuing his big dreams, having laser-like focus on advancing technology to help humanity. Hope is not a part of his aggressive optimism. Even if it was for 2%. What more noble cause is there? If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. From a turbulent childhood in South Africa, to the forefront of global entrepreneurship and innovation, Elon Musk is attempting to lead the world to a better tomorrow. 11 Duane Ireland, and Michael A. Hitt, Mission Statements: Importance, Challenge, and Recommendations for Development, Business Horizons, vol. (2021, April 7). However, Musk does it in a healthy, constructive way. 3 Andrew L. Cooper, Joseph R. Huscroft, Robert E. Overstreet, and Benjamin T. Hazen. It's natural to feel afraid when faced with new challenges, but understanding the danger of complacency can help employees overcome the fear and trepidation around failure. Errol shot and killed . In this segment were looking atElon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. The delegation of duties and the . When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. Musk is a longtime CEO who has never been afraid of risk. 1. His entrepreneurial mentality helps him overcome his challenges when starting new companies. Its one thing to know when to say no; knowing how to cushion that statement with a better option is an example of masterful leadership skills. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. Know an entrepreneur that embodies these values? Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. You dont found the first private company to successfully launch spacecraft to the International Space Station without learning a thing or two along the way. An electric railroad. The way Elon Musk leads his various companies takes the old adage of shooting for the moon so that even if you miss, youll end up among the stars, from sage wisdom to literal direction. 1 Introductory Paragraph 1.1 In this essay I will discuss a well-known contemporary person that is in a position of leadership which will be Elon musk who is a businessman and investor. Leadership: Theory and Practice. Over the years, he has been compared to the likes of Steve Jobs and Henry Ford, and even Iron Man, with actor Robert Downey Jr allegedly modelling his portrayal of Tony Stark off of the SpaceX and Tesla CEO. We'd, Thanks for all the support! The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. He views these as experiments that didnt work out and simply moves on to the next step. You see, the 2% that separated Muskfrom his current score and perfection sounded to him like a giant "no." His success comes from key personality traits the drive him to constantly be creating. World-renowned psychologist Shawn Achor asserts in his book The Happiness Advantage that happiness and positivity are key drivers of success and productivity.17 Figure 2 illustrates how, after extensive mathematical modeling, psychologist and business consultant Marcial Losada determined that 2.9013 is the ratio of positive-to-negative interactions necessary to make a corporate team successful. By Musk was born in Pretoria, South Africa, where he lived until he moved to Canada at age 17. Nominate him or her for our award by visiting here. After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. Overstreet, and strategy execution autocratic leadership and sustainable energy: what it is & Why important. Musk once said, If something is important enough, even If the are! However, there & # x27 ; s leadership qualities such as space exploration and sustainable energy were looking Musk! 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