Elon Musk Biography. Interesting business experiences from the past. Los Angeles: Sage Publications. Business Insights Blog. 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? Builds and rebuilds the teams commitment to the common goals. Sheryl Sandberg. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. Behavioral theories are crucial in understanding the conduct of . Elon Musk is one of the most innovative and driven entrepreneurs of our time. When you lead like Musk, youre always pushing for something greater: We believe everyone could stand to be a little fearless and a little more curious when leading their teams to greatness. He was also a man with a wonderful vision. After the sale of PayPal, he had enough money to live more than comfortably several lifetimes over.And yet, he invested nearly all those funds into SpaceX, Tesla Motors and SolarCity. He has used his skills to aid in the design of electric cars and even spaceships. Not only do these three specific qualities identify the definition of an authentic leader, but they help define Elon Musk and his rise to leader status and fame. Superheroes emulate him. Elon Musk is a business mogul, engineer and inventor, best known for founding and leading SpaceX (a company that aims to lower the costs of building rockets with the ultimate goal of multi-planetary colonization by humans) and Tesla Motors (a company that produces electric cars). When considering Elon Musk under the lens of authentic leadership, it is clear he has the necessary leadership traits. Make sure you understand the fundamental principles of what youre trying to do before you get into the details, otherwise you could be building on faulty ground.. You can save thousands of dollars, for a limited time. Lack of parental supervision enabled the two boys to create their own homemade explosives and rockets. After all, it was Musk himself who said, If you read a lot of books and talk to a lot of people, you can learn almost anything. A good leader is equal parts confident in their own skills and curious about what others have to offer. I would have been happy with a 98%. Outside of the business world, Musk is leading the push for renewable energy to help fight climate change. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. entrepreneur.com/article/279971. Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. I dont believe that to be the case with Musk. At age 12, he wrote a computer program to calculate trajectories for rockets. Musk has responded that hell step down when he finds someone foolish enough to take over as CEO, saying he will run the software and server teams instead. 3. 7 Michael Schrage, Like It or Not, You Are Always Leading by Example. Harvard Business Review. In a strong response to a recent Twitter poll posted by Elon Musk, users of the platform have called for him to relinquish his position as CEO. 4 Claire Zillman, These 6 Companies Give Their Employees Unlimited Tuition Reimbursement. Fortune. Bhd. He displays all of the four key positive psychological attributes discussed in the Northouse (2019) text. . 5 Key Personality Traits That Make Elon Musk so Successful "Musk's ability to healthfully maintain his intensity comes because of his flow state mindset, his passion for his work, and his. https://www.britannica.com/biography/Elon-Musk. Here are a few considerations that Musk should pursue to get Tesla back on track. Elon Musk has clashed often with securities regulators and highway safety authorities, but there's one area the Tesla and Twitter chief says the government should regulate now: artificial intelligence. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. 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. That openness allows him to work with his team in an atmosphere where theres no such thing as a bad idea. Instead, he cultivates a spirit of open-mindedness to encourage sharing and the anticipation of the next great idea. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. Northouse, P. G. (2018). So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Knowledge Management for Logistics Service Providers: The Role of Learning Culture.Industrial Management & Data Systems116, no. 3 (May/June 1992). Elon Musk has always been remembered as a transformational autocratic leader. When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. Many do not have access to the resources needed to bring out their full leadership potential. His intrapersonal qualities are a major component of what makes Elon Musk a more outstanding type of leader, as he has the education and drive an authentic leader needs. Leaders are often faced with complex challenges that require critical thinking and effective decision-making. And Musk fits that bill perfectly. In an ideal world, he could do all of the work himself. Leadership: Theory and Practice. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. At 17, he did not have the support of his parents and lived in poverty as a resident in Canada, 1989, while awaiting citizenship in the United States (Cole, 2021). Why is Elon Musk so scared of Artificial Intelligence? That is why our content will always be free, and we would be forever grateful to those who help make that possible. As of October 2016, his estimated net worth is US$11.5 billion. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. Its been a tumultuous year for Twitter and Musk. The ability to face facts. There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. For example, one recent scholarly study conducted by Andrew Cooper indicates that a learning culture positively impacts organizational performance.3. We live in a highly distracting world. And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. Although former employees sometimes describe him as autocratic and blunt to the point of offensive, they remain remarkably loyal.10 While employees may either revere or loathe the man for his methods, bright minds are consistently attracted to Musks leadership and populate his companies today. What Elon Musk has . 2.1.3 Transformational Leadership in Action Musk's leadership behaviors coincide with each of Bennis and Nanus (1985) four strategies typically used by transformational leaders. His first marriage was to Canadian author Justine Wilson in 2000. Elon Musk, one of the most creative leaders of our time, is widely seen as a visionary. After a closer look, researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms outside of their original scope.14. His tremendous work ethic imbues him with credibility among his employees, who become inspired to put in longer hours because of their boss devotion to work. Wow, you scrolled all the way to the bottom! Top editors give you the stories you want delivered right to your inbox each weekday. Biography.com Editors. This is a BETA experience. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. Musk appears to have the giddy excitement of a schoolboy for the fields his companies drive forward. Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. His speeches are marked with . Indeed, Musks reaction to finally getting his hands on Twitter has been reminiscent of Christmas morning, when children rip open presents, display initial excitement and then quickly lose interest. The fast-talking 'Suits' attorney has a lot to say about what it takes to succeed in business and life. And while it's important to prioritize work-life balance, the wealthiest people don't get wealthy by . https://www.biography.com/business-figure/elon-musk. You see, the 2% that separated Musk from his current score and perfection sounded to him like a giant "no." Creates and turns vision into business realities. The values that our award is based upon are as follows: We define entrepreneurial spirit as the following: Embodies commitment, vision, calculated risk-taking and capacity for personal growth. Web Design & Marketing Solutions provided by Select Advisors Institute, LLC. Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. Musk is a serial entrepreneur who has created and sold several successful companies. One of the most important leadership qualities is excellent problem-solving skills. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. As a child, Musk had a passion for science fiction books and movies. A strong leader needs to be resolute and persuasive, an innovative leader needs to be open to changing her mind. Elon Musk has promoted the growth of Tesla from an average company to a world-class top-competing brand with tens of billions in revenue earnings. In the end, he got his way. Musk is obviously intense. They have a strong sense of themselves and what they stand for (Northouse, 2019). You must really like us. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';}(jQuery));var $mcj = jQuery.noConflict(true); Your email address will not be published. This might be a little bit more difficult to do, but I think it's possible. As a student of leadership, I can see three key requirements for anyone considering or being considered for this role right now: A new Twitter CEO will want assurances that they will be free to take decisions about the direction of the business without being second-guessed by Musk as the majority owner. Musk was born in Pretoria, South Africa, where he lived until he moved to Canada at age 17. And can we not only quantify those things that make Musk so successful, but also begin to embody themin our own lives? Bill Gates. accessed November 23, 2017. http://fortune.com/2016/03/04/ companies-employees-tuition-reimbursement/. How often does something small in scale pull your attention away, making you less productive and less effective? It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. He sees problems as opportunities and that is what has led him to his success. 12 Wall St. 35, no. Let your vision guide you Expertise from Forbes Councils members, operated under license. 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 The Top 10 Ways To Strategically Scale (Not Just Grow) Your Business, Why And How Your Law Firm Should Start A Newsletter, A New Superfood From Hawaii And The Future Of Food Security, How Your Stories Of Failure Create Better Business Success, 5 Common Startup Content Marketing Mistakes, Five Years In The Making, SVX Colombia Aims To Build Up The Impact Ecosystem In That Country. Now many of you will read this and think: Why? The basic aim of the study is to find out to what extent the patterns of leadership tactics match with Musk's leadership in Tesla motors. Its long, but well worth the read! Whats remarkable about Musk is that he never lets it stop him from fighting through and progressing. A Quick Whiff Of Elon's Musk The 45-year-old is best known for being the founder of X.Com which later became PayPal, one of the largest Internet payment companies. This merged with Confinity to become Paypal. His financial decisions even resulted in him borrowing money to pay rent for a period of time.He has justified his unusual entrepreneurial moves saying, If I ask investors to put money in, then I feel morally I should put money in as well. Or as he has more colourfully puts it. Many of Musk's grand ideas come from small questions. Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. That 100% meant enough to him that he put himself in a possibly awkward situation, speaking with his professor, and had the hard conversation that many people shy away from. 10. First, according to the theory of authentic leadership, Musk had to exhibit positive psychological capacities and moral reasoning, and had to experience a critical event, in order to develop into an authentic leader (Northouse, 2019). In encouraging the widespread use of clean energy, Musk wrote, Tesla Motors was created to accelerate the advent of sustainable transport.If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal. https://online.hbs.edu/blog/post/authentic-leadership, Copyright 2023 The Pennsylvania State University, https://www.biography.com/business-figure/elon-musk, https://psu.instructure.com/courses/2137573/modules/items/32271438, https://online.hbs.edu/blog/post/authentic-leadership, A Leaders Self-Defeating Behaviors Effect on the Organization, Leaders Need to Be in Harmony With Their Followers, Nurse Leaders: The Importance of Nurses Motivating Nurses. Researcher Fred David found that 59 percent of the Chief Executive Officers of Business Weeks top 1,000 firms run companies that do not havemissionstatements.13 Many of these firms go on to acquire companies out-of-line with the companys original core business or product areas. It could have global impact. This brings us to a very valuable leadership lesson that the maverick Musk has taught everyone in recent months: we should hesitate before labelling forceful people as great leaders in any setting until we have seen what their long-term impact has been. In 1992, Musk attended the University of Pennsylvania to study business and physics, earning two separate degrees, and while he attended Stanford with the intention of obtaining his Ph D in energy physics, he opted to take advantage of the internet boom. accessed November 11, 2017. https://www.inc.com/larry-kim/50-innovation-amp;-successquotes-from-spacex-founder-elon-musk.html. But he wouldn't take no for an answer. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. The Musk way. Elon Musk has revealed the personal price he has had to pay to keep his business dreams alive. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. However, Musk does it in a healthy, constructive way. Musk is the. I've spent much of my professional life working with incredibly high performers, and although they all impress me to no end with their talents, habits, and work ethic, they don't quite reach Musk's level. Required fields are marked *, Notify me of followup comments via e-mail. The 45-year-old is best known for being the founder of X.Com which later became PayPal, one of the largest Internet payment companies. Opinionated But Humble Apple's Steve Jobs, like Musk, lived in the bottom right . Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. He creates hope for his consumers through positive visions of the future and his confidence in his products makes followers flock in his general direction (Northouse, 2019; Cole, 2021). Three leadership qualities that Elon Musk's replacement as Twitter's CEO will need Stefan Stern 12/27/2022. Musk, as a leader, has the capability to create balance between who he is, the vision he has created for the world, and acknowledging the importance of the strength of his team (Cole, 2021). Fowler explains, I know that Im not just having an impact on my son, Im potentially having an impact on my sons best friends mother.19 Managers have the opportunity and responsibility to greatly impact office culture through consistent personal optimism. Even though he had complete control of his company, he gave his employees the motivation to accomplish their targets and tasks through his characteristics. 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. And Elon Musk had purchased this fantastical prop with the serious intention of actually making it work as depicted in the film.I was thrilled. SpaceX was an idea, a very risky idea, that was successful against all expectations, but Elon Musk inspired many with his great ideas and made everyone look beyond. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. The truth is, if we are passionate - or find passion - in the work we're doing, work stops feeling like work. Musk summarizes his emotional response to being bullied as a child, If you get up in the morning and think the future is going to be better, it is a bright day. In a capitalist society, it is easy to become disillusioned with leaders and leadership. He has become an inspiration for many young leaders in the world of business. Big ideas always come from small thinking. Leading From Front. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. All three of these components together are what make an authentic leader and are what makes Elon Musk an authentic leader. Gavin, M. (2019b, December 10). It is integral to employ a team that operates in a cohesive and team- oriented fashion Team Leader/Leadership. There's an anecdote Musk's first wife, Justine Wilson, tells of him from back in college when the two first met at Queens University. SpaceX almost went bankrupt. Adib Ibne Yousuf, MBA student of BUP. But can we. His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. Elon Musk's current net worth is a whopping $152 Billion. (PDF) LEADERSHIP STYLES Elon Musk Tesla founder and CEO of SpaceX LEADERSHIP STYLES Elon Musk Tesla founder and CEO of SpaceX Authors: Mohammed Elnour University of Salford Abstract. He is able to push his employees harder because they understand that they are working towards a greater cause. Relinquish CEO duties to a qualified candidate Accept an alternative leadership role that aligns with the expertise and time availability Restructure Tesla's board of directors without conflicts of interest or dependencies Through his unique life circumstances, Musk has developed the important leadership qualities of being (1) a proactive learner, (2) a hard worker, (3) a bold visionary, and (4) an unwavering optimist, which still influence his success today. In fact, each of thefour traits we've described above are only cultivated by those who have a certain amount of intensity. I believe Musk's exceptional ability to healthfully maintain his intensity comes because of his flow state mindset, his passion for his work, and his absolute focus. Leaders must be committed to doing the work necessary for the companys success before they will be able to get others to commit. 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