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? 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 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. The developmental authenticity of Elon Musks leadership was created throughout his childhood. Unwilling to support apartheid through military service, Musk moved from South Africa to the United States (Cole, 2021). He has had many failures in the course of his career, ranging from mechanical failures in his Tesla brand to rockets crashing. Opinions expressed by Entrepreneur contributors are their own. 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). Nominate him or her for our award by visiting here. 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. Superheroes emulate him. Hope is not a part of his aggressive optimism. The delegation of duties and the . I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. Whether it was Paypal where he championed the idea of an online banking institution, or SpaceX which has become the first private company to successfully launch a rocket and dock at the International Space Station, or SolarCity which promotes the use of solar energy as a sustainable energy source, Musk is disrupting large industries by setting a new standard. Many people would consider Musk to be the most innovative entrepreneur of our time. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. There, he earned two degrees a Bachelor of Science in physics from the UPenn College of Arts and Sciences, and a Bachelor of Science in economics from the Wharton School of Business. Stay laser focused and don't procrastinate. This is a BETA experience. 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. Errol shot and killed . Since then he has made and sometimes walked back numerous changes to the popular social media platform. The 49-year-old Elon Musk is someone who has countless achievements under his belt. SpaceX almost went bankrupt. April 21, 2017. accessed November 23, 2017. https://hbr.org/2016/10/like-it-or-notyou-are-always-leading-by-example?referral=03758&cm_vc=rr_item_page.top_right. Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future. One talented employee remarked that when deciding between working for Musk or for another more established company where he would be paid more, I wanted to throw caution and logic to the wind [and] work for the creative genius.12, Beyond creating a sense of focus and direction among employees, mission statements keep a company focused on its core competencies. Elon Musk. 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). He sees problems as opportunities and that is what has led him to his success. He received a 98% on one of his tests. SpaceXs experimental rockets frequently make the news for launch failures. 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. Qualities of a visionary leader. City, University of London provides funding as a founding partner of The Conversation UK. I would have been happy with a 98%. Sheryl Sandberg. He hires brilliant and talented individuals that can design and develop his products. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. 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. 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. This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. In this segment were looking atElon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. 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. You see, the 2% that separated Musk from his current score and perfection sounded to him like a giant "no." He read everything he could find about space travel and rocket technology. 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. 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. Skip to document. 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. Question and challenge the status quo. 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 How often does something small in scale pull your attention away, making you less productive and less effective? He displays all of the four key positive psychological attributes discussed in the Northouse (2019) text. Write an article and join a growing community of more than 160,400 academics and researchers from 4,572 institutions. I dont believe that to be the case with Musk. Chatham: Newstex, 2015. https://search-proquest-com.erl.lib.byu.edu/docview/1652311317?accountid=4488. He's quite possibly a genius. 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 . Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. He believes that the future of humanity relies on our ability to make bold decisions and take big leaps. An office culture based on continued learning, leadership by example, clear mission objectives, and positivity is the greenhouse that empowers employees to grow into effective managers. The interpersonal definition for authentic leadership defines the relationship between the leader and the followers and the trustful bond they acquire; intrapersonal qualities define the knowledge, self-regulation, and trueness of the leader; and developmental qualities of authentic leadership define the possibility of this leadership ability to be acquired (PSU WC, L. 12). Confidence and independence. In the modern capitalistic world where the top executives stay away from places like factories. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. Shareholders in the car firm would probably like their hitherto successful CEO back full time. Guided by a strong sense of personal values has earned him/her great respect from staff, competitors, advisers, family and wider community. What Elon Musk has . The leadership style directly affects Tesla. Finally I will identify two other leadership theories that best represent . Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. He is the son of Maye Musk (Haldeman), a model and dietitian, and Errol Musk, an engineer. Mr Musk. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". 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? Relies on trusted individuals while showing ability to be an independent thinker and take risks in the face of uncertainty. He often gets frustrated when employees cannot follow his instructions. He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. Think of your own work-life and the way you go about your day-to-day tasks. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. He then moved across the United States to California to pursue a PhD at Stanford; but after two days, he left the program to pursue becomingan entrepreneur. Now many of you will read this and think: Why? Visiting Professor of Management Practice, Bayes Business School, City, University of London. 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. 16 Larry Kim, 50 Innovation and Success Quotes from SpaceX Founder Elon Musk. Inc.com. 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. Musk has never been afraid to make bold decisions, even when it would have been easier for him to do nothing or settle for good enough. 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. His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. I feel the same way. 10. Business Insights Blog. Leading From Front. How many opportunities are lost because of our fear of asking? His solar company is cash-flow positive. 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. What's the point of doing that? Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. Musk is undoubtedly a visionary. 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. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. 1. His passion for his work is so intense that it fuels late-night shifts, motivates 80-hour work weeks and, like we talked about in the last section, sleeping under his desk. Wow, you scrolled all the way to the bottom! Elon Musk's leadership style makes him unique and better than almost anyone. Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. Sign up for notifications from Insider! And Musk fits that bill perfectly. I believe that he really cares about contributing to society and bringing the human race forward to a better tomorrow.After all, this is the man who allowed other automobile manufacturers to freely make use of Teslas valuable battery technology. Elon Musk has always been remembered as a transformational autocratic leader. 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. Why? Even though Musk no longer performs menial labor, his work ethic remains second to none. Now look at Tesla: it's a booming giant that's changing the automotive world. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. He is a true visionary who can see the road to the future. In consideration of the leadership skills of Jobs and Musk, I see four overlapping things. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. It turns into a mission or game, and we find ourselves enjoying what we're doing. 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. 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 received a 98% on one of his tests. Elon Musk has married thrice and twice to the same woman. Tesla CEO Elon Musk, who's originally from South Africa, has perfected the art of remaining focused. His electric supercars seat seven. As a child, Musk became interested in computer programming and taught himself to code. (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. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. Musk changes his mind frequently sometimes within hours, as we saw recently when he appeared to walk back a policy change regarding users ability to link to other social media accounts. Musk once said, If something is important enough, even if the odds are against you, you should still do it. Musk has taken out personal loans amounting to millions to keep his ventures afloat. 1 Ashlee Vance, Elon Musk, Man of Tomorrow. Bloomberg Businessweek no. Access your favorite topics in a personalized feed while you're on the go. By clicking Sign up, you agree to receive marketing emails from Insider PSYCH 485 | Lesson 12: Authentic Leadership https://psu.instructure.com/courses/2137573/modules/items/32271438. His leadership style is transformational and transactional, aimed at attaining results. Errol Musk was once tried and acquitted of manslaughter. This is 90 percent of the solution, as hiring wrong can cost you so much." Elon Musk noted hiring the right people as his most important advice for up-and-coming leaders. While he has garnered enormous respect due to his transformational leadership, he still exhibits autocratic leadership traits. 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. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. A railroad. 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. Is New Business Creation Still Setting Records? This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. ), 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. He understands the many challenges but is not afraid to take them on. As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. They push people out, spiral out of control, or end up underperforming dramatically. Builds and rebuilds the teams commitment to the common goals. Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. 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.. It is influential and powerful. 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. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. His passion for his work is so intense that it fuels late-night shifts, motivates 80-hour work weeks, and, as we talked about in the last section, sleeping under his desk. Los Angeles: Sage Publications. The fast-talking 'Suits' attorney has a lot to say about what it takes to succeed in business and life. Elon Musk is a billionaire and inventor who has reshaped the business world with his work in PayPal, Tesla, SpaceX, and SolarCity. What Might That Mean For The Economy? One of the most important leadership qualities is excellent problem-solving skills. 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. This event makes him a charismatic leader. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. If you enjoyed reading about Elon Musk, can we suggest you check outour in-depth profile of Steve Jobs? Musk paid US$44 billion to buy it, perhaps twice what it was worth. Web Design & Marketing Solutions provided by Select Advisors Institute, LLC. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. Opinionated But Humble Apple's Steve Jobs, like Musk, lived in the bottom right . Your email address will not be published. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). Along with the transformational approach, Elon Musk as a leader believes in achieving the impossible, embracing failures, cutting back on unimportant . Tesla Motors has a significant emphasis on producing environmentally friendly cars (Cole, 2021). One employee said "If Elon was not happy, you knew it. You don't have to be a CEO to be a visionary leader. 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 he has made, sold and ran a bevy of successful companies, its clear that he utilizes a very specific type of leadership to keep the train of innovation chugging. 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. All of his qualities and traits cannot be described in words. Nations hire him to get to outer space. Today, Musks 100-hour-work weeks lie at the core of his success. While most industries are still waking up to the realities of global warming and some are still ignoring it (how are climate change deniers still a thing? You may opt-out by. Elon Musk is the billionaire entrepreneur and business magnate responsible for co-founding the cutting-edge companies PayPal, Tesla, and SpaceX, amongst others. There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. But can we describe why Musk is the way he is? Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Big ideas always come from small thinking. Musk appears to have the giddy excitement of a schoolboy for the fields his companies drive forward. To learn more about the leadership workshops and keynotes I conduct at events and corporations around the globe, click here: https://jamieturner.live/To down. Adib Ibne Yousuf, MBA student of BUP. 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 then tried to pull out of the deal in July, before finally taking ownership in October. 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?. Introduction. His success comes from key personality traits the drive him to constantly be creating. We can rattle off Elon Musk's accomplishments in our sleep: cofounder of monetary giant PayPal; founder of Tesla, the electric car company that is literally changing the world; and founder of SpaceX, the company that is trying to take us out of this world and colonize another. Being a perfectionist, he went to his professor and got them to change his score to a 100%. 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? 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. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. Adib Ibne Yousuf Follow This mightbe a little bit more difficult to do, but I think it's possible. Creates and turns vision into business realities. After lengthy development of a new model of his all-electric Tesla car, the vehicle burst into flames during a test run. 3 Andrew L. Cooper, Joseph R. Huscroft, Robert E. Overstreet, and Benjamin T. Hazen. Lifelong learning is a key component of Musks leadership style. Together with his brother, he founded Zip2 which was an online directory for businesses. Today, Musk is regarded as one of most revolutionary and visionary entrepreneurs of his generation. Opinions expressed are those of the author. 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. At age 15, Musk embarked on his trek to the land of opportunity with two small caveats: (1) he would have little money, and(2) he would have no home. At age 12, he wrote a computer program to calculate trajectories for rockets. So what are the most important characteristics of a good leader? He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. Leaders are often faced with complex challenges that require critical thinking and effective decision-making. Big ideas always come from small thinking. It also sets a good example for others to follow. 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. Later, he said, advice I would give is to not blindly follow trends. This kind of thinking makes many companies mediocre. From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. Has learned from disappointing experiences. The company was sold to eBay in 2002 and netted Musk US$180 million in the process. Musk is a perfect case study for someone whose work ethic is fueled by his passion. 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. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. 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. Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. He has used his skills to aid in the design of electric cars and even spaceships. When asked which particular work touched him, his response is equally as unique as himself: comic science-fiction novel, The Hitchhikers Guide to the Galaxy. He views these as experiments that didnt work out and simply moves on to the next step. 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. 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 essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. Northouse, P. G. (2018). As of October 2016, his estimated net worth is US$11.5 billion. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for.
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