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. He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. How often are you distracted? Randy Garn Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. In 1992, Musk received a scholarship to the University of Pennsylvania, which was his golden ticket into the United States (Cole, 2021). There's an anecdote Musk's first wife tells of him back in college. Introduction. His first marriage was to Canadian author Justine Wilson in 2000. Musk chose de facto mentors from a practically endless library of great leaders, like Benjamin Franklin, Steve Jobs, Albert Einstein, Isaac Newton, and of course, Nikolas Tesla. He understands the many challenges but is not afraid to take them on. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. He is honest, hard-working, and a leader who has influenced many. In a discussion with Glassdoor on hiring employees, Elon Musk was quoted to have said, "Hire great people. Musk has perfected the art of remaining focused. Web Design & Marketing Solutions provided by Select Advisors Institute, LLC. I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. As a leader, having a vision and communicating it to your team can make a big difference in the success of your organization. But this small, simple detail is a defining one. He also uses the feedback loop as part of his self-reflection and self-improvement he seeks to always do better than he did before as he knows that every improvement will lead him closer to achieving his goals. Using his own money from the sale of Paypal, Musk started SpaceX, a company dedicated to lowering the costs of space travel. How often does something small in scale pull your attention away, making you less productive and less effective? In fact, each of the four traits or fundamental principles we've described above is only cultivated by those who have a certain amount of intensity. Gavin, M. (2019b, December 10). 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. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). Leveraging Digital Towards Improving Sustainability. Elon Musk is the billionaire entrepreneur and business magnate responsible for co-founding the cutting-edge companies PayPal, Tesla, and SpaceX, amongst others. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. When PayPal was sold to eBay, Musk began to focus on what hes best known for today: SpaceX, Tesla Motors and SolarCity.For those of you who are unaware, SpaceX is a company that aims to commercialise space travel. Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. For example, one recent scholarly study conducted by Andrew Cooper indicates that a learning culture positively impacts organizational performance.3. Elon Musk is an American businessman. 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. He attended private schools and had a tough time as he was severely bullied by his peers. And it can be a force for good for example providing data and advice during the COVID-19 pandemic or helping to highlight the failings of politicians or the media even with the unpleasantness and abuse that seem to be an unavoidable part of tweeting. His other ventures include Hyperloop (his design for a high-speed transportation system that would drastically reduce travel times) and OpenAI (a non-for-profit research company dedicated to artificial intelligence). 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). It also sets a good example for others to follow. SpaceXs experimental rockets frequently make the news for launch failures. So find a smallidea. . 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. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. 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. Elon Musk is a terrible public speaker. How often does something small in scale pull your attention away, making you less productive and less effective? Elon Musk is widely admired for visible entrepreneurship. Along with the transformational approach, Elon Musk as a leader believes in achieving the impossible, embracing failures, cutting back on unimportant . Musk generally influences people in his organization as well as outside world by using great communication skills. 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. 2. Hes on a mission to save humanity. As a child, Musk had a passion for science fiction books and movies. He has been criticised and abused, both online and in real life and now 57.5% of more than 17.5 million Twitter users have voted for him to stand down as its CEO. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. These are the brutal facts a new leader must confront. In this case, a core task for the new CEO will be to recognise what sort of business Twitter is, and decide whether it is really a conventional for-profit business at all. One course of action many successful companies have implemented to create a learning culture is to give financial assistance to its employees to further their education.4 Educational benefits are becoming increasingly important as more millennials enter the workplace. While the post was prestigious and offered the benefits of extreme power at the highest level, recognizing that the job no longer aligned with Musks mission for sustainability and care for the environment meant that it was diametrically opposed to his objectives. So, if Twitter wants to find a new CEO, what sort of person should the troubled social media platform be looking for? The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. 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. This event makes him a charismatic leader. You don't have to be a CEO to be a visionary leader. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. Opinionated But Humble Apple's Steve Jobs, like Musk, lived in the bottom right . As a young man, Musk discovered that he was keenly interested in a few fields that he thought would have an impact on the world: the internet; sustainable energy; space exploration, in particular the permanent extension of life beyond Earth; artificial intelligence; and reprogramming the human genetic code.. Stay up to date with what you want to know. Visionary leadership exists in most, if not all, other fields too. Works on Ground Level. By Andrew Fayad, CEO of ELM Learning, a creative agency focused on designing custom multimedia and digital learning experiences. While he has garnered enormous respect due to his transformational leadership, he still exhibits autocratic leadership traits. Is New Business Creation Still Setting Records? [3] It could be a good exercise to think of ways you can distill these traits as usable leadership skills. In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. Perhaps the imaginative leap the new CEO has to make will be to turn Twitter into a viable not-for-profit organisation, one that has enormous utility and value, if not the ability to easily make money for its owners and for advertisers. https://www.britannica.com/biography/Elon-Musk. The initial question is always small, then the answers grow progressively bigger. As a child, Musk became interested in computer programming and taught himself to code. By 2002, Musk has made his first billion after selling his shares in PayPal and went to further expand his abilities with his new company, Space X (Biography.com Editors, 2021). Know an entrepreneur that embodies these values? The novel led Musk to deduce that the only thing that makes sense is to strive for greater collective enlightenment.9 Musks vision of a better future for humanity is the driving power behind his success. Musk has remained true to his vision for the future throughout his career. Even though Musk no longer performs menial labor, his work ethic remains second to none. For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's found such success. Authentic Leadership: What It Is & Why Its Important | HBS Online. Since youre here, wed like to ask you to consider donating to the maintenance and upkeep of our site, which as it turns out is pretty expensive. Biography.com. 2017 BluePointe Capital Management, LLC. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. Vision: There is no doubt that Musk has a vision. 2.1.3.1 Visionary Leadership Elon Musk is an example of the visionary leader. Find out why in this fantastic piece (also from Wait But Why). The Harvard Business Review article, Like It or Not, You Are Always Leading by Example explains that all serious leaders recognize that their example has a continuous impact on their company. His secret is that he taps into people's yearning for inspiration. The Bad: While SpaceX was in full startup mode, Elon's first son, Nevada, was born. Biography.com Editors. But can we. He also agreed that only paid subscribers should be able to vote on future Twitter policy changes. With transformational leadership styles on the rise, Elon Musk has also entered the list of the 21st century's most influential CEOs along with Steve Jobs, Reed Hastings, and Jeff Bezos. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Musk is a longtime CEO who has never been afraid of risk. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. The primary source of Elon Musk power is his leadership skills. Related: When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? 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. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. Elon Musk's leadership style is awe-inspiring - most of the time. Be an Authentic Leader: Ma possesses a strong sense of character which helps him build loyalty and strong foundation on which his business Alibaba grows. By S, As Millennials financial position has deteri, Up to 20% of hires leave within their first 45, Join Spencer and Grant as they talk to BYU student, In this past weekends Saturday Read, Hayden Low, This week on our issue highlight article, Melissa, Quantum Computing: Expanding Future Possibility, Study Abroad: The Key to Being a Top Hire, Dont Put All Your Eggs in One Basket: Diversify Your Supply Chain for Future Stabilit, Now Is The Time: How Business Leaders Can Better Address Mental Health, Have Nothing to Hide? We'll be in your inbox every morning Monday-Saturday with all the days top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur. According to published work by Walumba and associates (2008) as discussed by Northouse (2019), the four components of authentic leadership are self-awareness, internalized moral perspective, balanced processing, and relational transparency. Its been a tumultuous year for Twitter and Musk. He holds South . 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. When Musk is brave with his decisions, his team is empowered with the same courage. 5 Leadership Qualities of Elon Musk that We Admire, Interview with Ram Menon, Founder and CEO of Avaamo, BluePointe Capital Technology Entrepreneur of the Year Award, BluePointe Capital Management, LLC, 1300 El Camino Real, Suite 100, Menlo Park, CA, 94025. Companies that pay the price to cultivate a strong office culture will increasingly set themselves apart and experience substantial organic growth as employees step up to become effective managers and branch out the organization. Cheat Sheet: Is Teslas Elon Musk the New Steve Jobs?. He sees problems as opportunities and that is what has led him to his success. For better or worse, here are five things weve learned about leadership from Elon Musk. He has had many failures in the course of his career, ranging from mechanical failures in his Tesla brand to rockets crashing. After making his mark in the dotcom industry with Zip2 and Paypal, Musk went on to his loftier dreams of space exploration and sustainable energy with his current business ventures. An electric railroad. Musk once said, If something is important enough, even if the odds are against you, you should still do it. 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. It could have global impact. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. 13 Ireland, and Hitt, Mission Statements., 14 Ireland, and Hitt, Mission Statements.. Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology.Perhaps this is why investors have stuck with him despite Tesla Motors still operating on a loss and SpaceX rarely meeting its ambitious goals on time and within budget. By clicking Sign up, you agree to receive marketing emails from Insider At age 12, he wrote a computer program to calculate trajectories for rockets. 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. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. ), Musk has been working to solve these growing problems for more than a decade.To paraphrase an amusing analogy I recently came across: While most industry leaders have been playing checkers, Musk has been playing StarCraft.But more than having a vision, leaders should clearly communicate that vision to their followers. Today, Musks hard-earned lesson to remain optimistic enables him to see a bright future in industries doomed by his critics to failure. 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. What Might That Mean For The Economy? 8 Simon Sinek. Yet, while his unique personality and boundless creativity have led to incredible success for his. Stefan Stern does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment. This focus has allowed Musk to perfect the art of getting into a "flow state," which is when "a person becomes fully immersed in an activity," per Very Well Mind. Relies on trusted individuals while showing ability to be an independent thinker and take risks in the face of uncertainty. Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. (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. In this segment were looking atElon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. In 2000, he met Justine Musk who would mother six of his children. It turns into a mission or game, and we find ourselves enjoying what we're doing. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. How do we make California transit more convenient? Fortunately, his mothers Canadian citizenship enabled him to obtain a Canadian passport and a one-way flight to Montreal. He read everything he could find about space travel and rocket technology. What's the point of doing that? Why? 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. 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 . 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 Elon Musk is such kind of a leader who possesses a lot of leadership qualities and styles. Encyclopdia Britannica. If being willful, and opinionated, yet adaptable are key traits to great leaders. China's birth rate declines for first time in decades. Elon Musk is famously a workaholic - he boasts of working 120-hour weeks to keep production of the Tesla Model 3 on track - but since we met he seems to have been enjoying himself. Musks innate sense of curiosity stems largely from the unusual amount of independence he experienced as a child. Even if your personal vision isnt as revolutionary or world-changing as Musks, its important to have a goal that motivates you to do better and inspires your team to work together. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. Pennsylvania State University World Campus. Few more of his leadership traits are given below: Leading with Purpose Collaborative Being Comfortable with Change Operating with integrity Being Continuous learner is a priority Optimistic He values feedback, both good and bad, as it helps him refine his ideas and execution. I would have been happy with a 98%. These five traits together create what is presumably a great leader (Gavin, 2019). Twitter is a resounding practical success. This merged with Confinity to become Paypal. Access your favorite topics in a personalized feed while you're on the go. All he focused on was the task at hand. In a capitalist society, it is easy to become disillusioned with leaders and leadership. It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. We live in a highly distracting world. He praised Elon Musk's ambition, revealed the traits and attitudes he looks for in people, and cautioned against becoming a VC just to get rich. Think of your own work-life and the way you go about your day-to-day tasks. 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. They push people out, spiral out of control, or end up underperforming dramatically. Twitter is struggling financially. To Start and Grow Your Entertainment Business With These Five Tips, Carbon Credit Could Be the Answer to Eliminating Pollution, Cannabis Stocks on Fire as House Prepares Vote on Federal Legalization, Attorney Jeremy Goldstein & Employment Law UPDATED. Leaders Eat Last (New York: Portfolio/Penguin, 2014). SpaceX almost went bankrupt. Musk is obviously intense. He began building up shares in the company in January 2022 and his US$44 billion (36 billion) bid to buy the platform was accepted in April. He wants to die on Mars. This mightbe a little bit more difficult to do, but I think it's possible. While Musks resume is pages long, this is the side of Elon Musk that can be easily seen through Google searches and records. Businesses can't replicate Musk's lifetime of experience in their employees. , other fields too boundless creativity have led to incredible success for his Facebook or Instagram that can foundational! Into a mission or game, and we find ourselves enjoying what we 're doing passion fuels his ethic! Lesson to remain optimistic enables him to obtain a Canadian passport and a one-way to... Do n't feel like work weeks do n't feel like work weeks do n't feel work!, hard-working, and SpaceX, PayPal, Inc. Tesla motors and zip2 child, had... 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