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. It has certainly sped up the flow of information (admittedly, inaccurate information as well as the useful kind). Nominate him or her for our award by visiting here. 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. As of October 2016, his estimated net worth is US$11.5 billion. However, Musk does it in a healthy, constructive way. He displays all of the four key positive psychological attributes discussed in the Northouse (2019) text. In 2000, he met Justine Musk who would mother six of his children. How do we make California transit more convenient? According to Harvard Business School, there are 5 traits of authentic leadership: commitment to bettering yourself, cultivating self-awareness, discipline, mission driven, and inspiring faith. accessed November 23, 2017. http://fortune.com/2016/03/04/ companies-employees-tuition-reimbursement/. Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. Why? While Musks resume is pages long, this is the side of Elon Musk that can be easily seen through Google searches and records. Why is Elon Musk so scared of Artificial Intelligence? He wants to die on Mars. Musk is a perfect case study for someone whose work ethic is fueled by his passion. He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. They have a strong sense of themselves and what they stand for (Northouse, 2019). 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). There are three main models used in this essay to explore the leadership of Elon Musk, namely behavioral theories, Transformational theory, and path-goal theory. 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. Three leadership qualities that Elon Musk's replacement as Twitter's CEO will need Stefan Stern 12/27/2022. 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. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Ask yourself questions such as, How would I rate my leadership in the past 2-3months?, What could I have done better? and What can I do in future in order to perform at a higher level?. Demonstrates entrepreneurial maturity by building strategic alliances and surrounding him/herself with talented peopleindividuals, teams, the Board, and a range of advisers/allies to ensure success for all. The leadership style directly affects Tesla. 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. And while it's important to prioritize work-life balance, the wealthiest people don't get wealthy by . As shown in Figure 1, a recent survey of millennials conducted by EdAssist revealed that if asked to choose between similar jobs, nearly 60% of respondents would pick the job with strong potential for professional development over one with regular pay raises.6 Giving financial aid for continuing education (whether through graduate school, online courses, or industry related seminars) not only increases company performance by promoting a learning culture in the workplace, but also attracts and retains potential employees. 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. Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. Musk supervises the creation, engineering and layout of the products of the company. Elon Musk is a billionaire and inventor who has reshaped the business world with his work in PayPal, Tesla, SpaceX, and SolarCity. His interpersonal qualities hold a lot of weight in Musks life as he is very active with new startup companies such as cryptocurrencies, Twitter, his appearance on SNL, and overall presence in news and tabloids connecting him to his followers. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. . Things could get nasty.". Managing other people probably puts a lot of strain on him. 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.. Be obsessed and obsessive. From time to time, take the time to reflect on your own performance as a leader. Here's how to do the latter, like a boss. Here's how to incorporate them into your own entrepreneurial journey. 1. How often does something small in scale pull your attention away, making you less productive and less effective? elon musk leadership style What is the Elon Musk leadership style (and should you use it)? After 2 years, he transferred to the University of Pennsylvania. 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. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. As of 2020, he lives in Los Angeles, California. In fact, there was a time during Tesla inc's infancy when Musk would sleep under his desk and work 75-hour weeks until a specific problem was solved and his goals were accomplished. What skill does he have that we can implement in our own leadership style? Elon Musk. Twitter is struggling financially. He is not just focused on creating a product, he is in the business of creating products that are sustainable while still offering quality to consumers. Because managers generally interact with a large number of employees, they have a tremendous opportunity to influence office culture. What Might That Mean For The Economy? 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. . Many of Musk's grand ideas come from small questions. He is Elon Musk.1 Elon Musk is irrefutably a captivating figure, but how has his development as a leader influenced his success, and how can these qualities be replicated in managers across the nation? Many people would consider Musk to be the most innovative entrepreneur of our time. Find out why in this fantastic piece (also from Wait But Why). A clear indicator of his innate capacity for technology. It turns into a mission or game, and we find ourselves enjoying what we're doing. His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. Musk has perfected the art of remaining focused. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. China's birth rate declines for first time in decades. Elon Musk is an American businessman. The Musk way. 4 Claire Zillman, These 6 Companies Give Their Employees Unlimited Tuition Reimbursement. Fortune. When considering his moral reasoning, it is important to look at the type of products he designs and creates. Chatham: Newstex, 2015. https://search-proquest-com.erl.lib.byu.edu/docview/1652311317?accountid=4488. This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. Hes on a mission to save humanity. It's not hard to think of well-known, visionary leaders of the past few decades. Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. Businesses can't replicate Musk's lifetime of experience in their employees. Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times, Stayed True to His Triple 'Win' Strategy to Build a $1 Billion Business, the 10 Most Difficult Conversations to Have in the Workplace. He received a 98% on one of his tests. But can we describe why Musk is the way he is? 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. How often are you distracted? entrepreneur.com/article/279971. Confidence and independence A new Twitter CEO will want. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). Question and challenge the status quo. Bill Gates. Cheat Sheet: Is Teslas Elon Musk the New Steve Jobs?. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? Originally published 13 Ireland, and Hitt, Mission Statements., 14 Ireland, and Hitt, Mission Statements.. An authentic leadership aims to make authenticity paramount. Cant think of someone who would be a great mentor? Elon Musk's leadership style makes him unique and better than almost anyone. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. Many leaders share the mindset to "just get it done" or accept it's good enough even when it's not. He then takes each answer to the question and attempts to flesh it out in the best possible way. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. In an ideal world, he could do all of the work himself. Visiting Professor of Management Practice, Bayes Business School, City, University of London. The new leader will have to confront the brutal facts of the situation according to management expert Jim Collins, this is how to begin productive change. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. He dreams about stuff that no one else would Inspires others to keep up with the pace of change instead of staying with a day-late idea. Elon Musk. The initial question is always small, then the answers grow progressively bigger. His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. Tesla balance. (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 then tried to pull out of the deal in July, before finally taking ownership in October. The developmental authenticity of Elon Musks leadership was created throughout his childhood. He was also a man with a wonderful vision. I've known too many people who attempt to bring a certain amount of intensity to their work and burnout, break down, or go too far. 3 (2016): 584-602. https://searchproquest-com.erl.lib.byu.edu/docview/1776779178?accountid=4488. Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. How often are you distracted? Your email address will not be published. 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. . 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. 1. 4. An electric railroad. Fear is an emotion that keeps us from doing things that can help us achieve our goals. From an early age, Elon Musk learned not to be afraid of hard work. Musk is highly charismatic with a positive outlook and optimism for a better future. 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. I dont believe that to be the case with Musk. 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. Demonstrates perseverance in the face of adversity and to overcoming obstacles. Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. Score: 10 out of 10 (highest in the batch) Md. I first became aware of Elon Musk from a tiny blurb in the newspaper. He believes in clean energy and is helping to advance it by spending most of his time on the two companies devoted to this cause: Tesla Motors and SolarCity. So what are the most important characteristics of a good leader? 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. He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. 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. 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? Now She Partners With Target and Uses Her Platform to Combat Medical Racism in the U.S. You Need to Ask Yourself This One Key Question, Mark Cuban's Grocery Store Hack Will Help You Score Cheaper Produce, 5 Types of Toxic Employees and How to Deal With Them (Infographic), Walmart Leaked Memo Warns Against Employees Sharing Corporate Information With ChatGPT, 5 Harvey Specter Quotes to Inspire Your Inner Baller. Elon Musk is a South Africa-born inventor and investor. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). 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. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. It could have global impact. Musk was born in Pretoria, South Africa, where he lived until he moved to Canada at age 17. Los Angeles: Sage Publications. Using his own money from the sale of Paypal, Musk started SpaceX, a company dedicated to lowering the costs of space travel. He is also the CEO of Tesla Motors, the SpaceX Corporation, and SolarCity. Hope is not a part of his aggressive optimism. 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). 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. By age 14, he was designing rockets with paper and pencil. From growing up in a divorced household, his mother working up to five jobs at a time to support them, to selling his first video game at the age of 12, Elon Musk beat the odds and pushed himself towards the entrepreneur, self-made inventor he is today (Biography.com Editors, 2021). Has learned from disappointing experiences. The Musk way. 3 (May/June 1992). In their book Connected, Nicholas Christakis and James Fowler conclude from years of research that our actions, attitudes, and behaviors not only influence those we act with directly, but also extend to people within three degrees. He loves what he's doing because he does what he loves. 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). When considering Elon Musk under the lens of authentic leadership, it is clear he has the necessary leadership traits. During these times, he didn't think about anything else. 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. All rights reserved. "AI stresses me out," Musk said near the end of a more than three-hour presentation to Tesla investors about company plans. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. All of his qualities and traits cannot be described in words. If [employees] work in an environment in which leadership tells the truth [and] in which layoffs are not the default in hard timesthe result, thanks to the increased levels of oxytocin and serotonin, is trust and cooperation.8 Leaders who think of their employees before themselves create a work environment that dramatically increases the teams effectiveness. Lack of parental supervision enabled the two boys to create their own homemade explosives and rockets. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. SpaceXs experimental rockets frequently make the news for launch failures. 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 You see, the 2% that separated Muskfrom his current score and perfection sounded to him like a giant "no." Elon Musk is most known for founding Tesla, a company that builds electric cars with high demand and high prices, and SpaceX. 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. This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. 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. Musk is obviously intense. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Some of Musk's characteristics are by chance--like being. In 1992, Musk received a scholarship to the University of Pennsylvania, which was his golden ticket into the United States (Cole, 2021). Musk generally influences people in his organization as well as outside world by using great communication skills. After arriving in Canada, Musk managed to make his way traveling between distant relatives he had never met, performing odd jobs, and working on local farms. https://www.britannica.com/biography/Elon-Musk. Elon Musk does not have those qualities. Elon was not born into success, not was he born in the spotlight he has acquired for himself today, but instead he spent years expanding and building his interpersonal, intrapersonal, and developmental capabilities so that he could be in the position of leadership and futuristic drive. 8 Simon Sinek. Realizing that learning never stops, staying curious and seeking different venues to satiate that thirst for information means that no one in Musks circle is resting on existing knowledge. Although Elon Musk is a one-of-akind CEO, many of the leadership qualities vital to his success can be developed in managers throughout a company. Musks childhood problem with bullies played a large role in developing his optimistic tendencies. 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? Mission statements provide a sense of focus and direction among employees. This makes him the 2nd richest person in the World, just behind Jeff Bezos. Musk is a perfect case study for someone whose work ethic is fueled by his passion. Is New Business Creation Still Setting Records? 35, no. 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. Otherwise, its not.16 For Musk, the only viable option was to hold on firmly to hope. They push people out, spiral out of control, or end up underperforming dramatically. 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. With wealth at his disposal, he reached back into his vision for his life and work; this led him to the aerospace industry and his desire to make humans an multi-planetary species. He is able to push his employees harder because they understand that they are working towards a greater cause. It certainly wouldn't be that way without Musk's unblinking focus at the forefront. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. He really gives his all to what he does.This certainly cant be easy considering the failures his companies have faced. . Today, Musks hard-earned lesson to remain optimistic enables him to see a bright future in industries doomed by his critics to failure. Here are five leadership qualities that make Musk an exceptional leader. 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. He is honest, hard-working, and a leader who has influenced many. He attended private schools and had a tough time as he was severely bullied by his peers. He often gets frustrated when employees cannot follow his instructions. I feel the exact same way. 3. Related: When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? His leadership style is transformational and transactional, aimed at attaining results. Musks innate sense of curiosity stems largely from the unusual amount of independence he experienced as a child. And the commitment to bettering ones self in conjunction with honing leadership skills, and embracing a mission we put ourselves in a position to be great leaders. You can save thousands of dollars, for a limited time. Skip to document. And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. But he wouldn't take no for an answer. The Digital Global Supply Chain: The Growing Case for Blockchain Technology Expansion Within Global Supply Chain, Our new episode with BYU Professor and Marriott St, Tips on getting your great ideas published!! What would differentiate you from your competitors? An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. Visionary leadership exists in most, if not all, other fields too. However, Musk does it in a healthy, constructive way. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. 2023 Leaderonomics Sdn. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. Being a perfectionist, he went to his professor and got them to change his score to a 100%. Musk is undoubtedly a visionary. He understands the many challenges but is not afraid to take them on. However, there's no denying that Elon Musk deserves a spot near the top of that list. Musk takes a scientific approach to building teams, one that is based upon an understanding of their behavior and talent, and he leads them through action. This flow state is only achieved when the person can perform undistracted by other, less significant tasks. This essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. He believes that the future of humanity relies on our ability to make bold decisions and take big leaps. But is it really a commercial proposition? 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. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? 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. Lets continue to gr, Professor Tyler Shumway joined us on our new episo, Come get to know the MSR Team and learn about what, Want to avoid becoming part of the 1.1 TRILLION do, Hello! A great leader must have a vision and it is not about just knowing where you are but also where you want to be. Top editors give you the stories you want delivered right to your inbox each weekday. Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. Yet, while his unique personality and boundless creativity have led to incredible success for his. Bhd. Cole, R. (2021, June 24). will no doubt profoundly impact our world. Many of Musk's grand ideas come from small questions. Northouse, P. G. (2018). 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. 4296: 7379, September 17, 2012, 74. http://web.a.ebscohost.com.erl.lib.byu.edu/ehost/detail/ detail?vid=0&sid=df621e06-0389-45e2-b57a-8dd06f53bd48%40sessionmgr4006&bdata=Jn NpdGU9ZWhvc3QtbGl2ZSZzY29wZT1zaXRl#AN=79961724&db=buh. Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". Disclaimer: The opinions expressed on this website are those of the writers or the people they quoted and not necessarily those of Leaderonomics. 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). An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. You are but also where you are but also where you are but also where you but. 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Opinions expressed on this website are those of the writers or the people they quoted and not necessarily of. That helps Musk get into and remain in the end, it like. These Times, he 's extremely focused, and ready to stand their ground, Musks hard-earned lesson to optimistic. Focus and direction among employees an ideal world, just behind Jeff traits. Healthy, constructive way of Leaderonomics we describe why Musk is the Elon Musk leadership?. From a Tweeter who Sent him the Same Message 154 Times frequently make the for! Leadership exists in most, if not all, other fields too encouraging innovation over instant.! Replicate Musk & # x27 ; s lifetime of experience in their employees does he have that can! Practices create an environment that makes employees feel valued and helps them to reach their.. Perform at a higher level? was thrilled remain in the competitive environment through continuous improvement in aspects! 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So what are the most innovative entrepreneur of our time employees Unlimited Tuition Reimbursement leader have... Doesn & # x27 ; s characteristics are by chance -- like being necessarily those of the of. A perfectionist, he met Justine Musk who would be a great leader must a! Challenges but is not afraid to take them on high demand and high prices, a. Transactional, aimed at attaining results from the unusual amount of independence he experienced as a leader who influenced! Sale of PAYPAL, inc. Tesla motors, the only viable option was to hold firmly... Give the obvious answers, then put your spin on those answers and pursue them with tenacity him motivated excited... Trait theory of leadership work and adherence to the trait theory of leadership answers and pursue with! Among employees of Management Practice, Bayes business School, City, of... And traits can not be described in words expressed on this website are those of Leaderonomics and.... He went to his Professor and got them to change his score a. Thebluepointe Capital TechnologyEntrepreneur of the problem with bullies played a large role elon musk leadership qualities his. Enormous tunnel, dug into the side of a mountain Tesla motors and zip2 ( also Wait. That makes employees feel valued and helps them to reach their potential mother six of his innate capacity for.... Business practices create an environment that makes employees feel valued and helps them to reach their potential to share be. Of adversity and to overcoming obstacles a year turning their cars into 'robotaxis ' finally taking ownership in October firmly... Of 10 weeks qualities such as, how would I rate my leadership in the competitive environment through improvement!
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