If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. This management style can exist in all levels of leadership, whether you're a department head, VP, or . Otherwise, its not.16 For Musk, the only viable option was to hold on firmly to hope. It also motivates him to start new companies, even if they initially need to work out. Creates and turns vision into business realities. And Musk quickly became one of my personal heroes. 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. Errol Musk was once tried and acquitted of manslaughter. Business Insights Blog. 11 Duane Ireland, and Michael A. Hitt, Mission Statements: Importance, Challenge, and Recommendations for Development, Business Horizons, vol. I feel the exact same way. 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. In 2018, Musk tweeted, Creating a rocket company has to be one of the dumbest and hardest ways to make money. The tweet came nearly a decade after both SpaceX and Tesla were teetering on the edge of bankruptcy and Musk had lost his position as CEO of two other tech companies. 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). Elon Musk exemplifies the creative side of autocratic leadership. Pennsylvania State University World Campus. The fast-talking 'Suits' attorney has a lot to say about what it takes to succeed in business and life. Why is Elon Musk so scared of Artificial Intelligence? 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. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. https://www.britannica.com/biography/Elon-Musk. Elon Musk is a South Africa-born inventor and investor. 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. The Musk way. So, if Twitter wants to find a new CEO, what sort of person should the troubled social media platform be looking for? It's not hard to think of well-known, visionary leaders of the past few decades. 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 hard work ethic, they don't quite reach Musk's level. He is the son of Maye Musk (Haldeman), a model and dietitian, and Errol Musk, an engineer. With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. Cole, R. (2021, June 24). Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. Work Ethic => Your Goals It's safe to say that most people want to be successful, but among this group there are some who want it more. I first became aware of Elon Musk from a tiny blurb in the newspaper. Elon Musk possesses the ability to think at the system level of design. He wasn't distracted by other, tedious tasks. 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? All he focused on was the task at hand. The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. A railroad. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. All rights reserved. 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. Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. While Musks resume is pages long, this is the side of Elon Musk that can be easily seen through Google searches and records. As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). 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. 1. By clicking Sign up, you agree to receive marketing emails from Insider Write an article and join a growing community of more than 160,400 academics and researchers from 4,572 institutions. Outside of the business world, Musk is leading the push for renewable energy to help fight climate change. If you enjoyed reading about Elon Musk, can we suggest you check outour in-depth profile of Steve Jobs? . Musk is not afraid of failure and sees it as an organic part of any creation process. However, businesses can breed leadership qualities (such as those exemplified by Musk) in their employees by (1) developing a learning culture, (2) leading from the front, (3) abiding by a mission statement, and (4) fostering positivity in the workplace. This essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. I'll talk about them here. 6 Authentic Ways to Inspire Other People When Youre Not Great With Words. elon musk leadership style What is the Elon Musk leadership style (and should you use it)? He believes that the future of humanity relies on our ability to make bold decisions and take big leaps. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. You can save thousands of dollars, for a limited time. The company was sold to eBay in 2002 and netted Musk US$180 million in the process. He's quite possibly a genius. As of October 2016, his estimated net worth is US$11.5 billion. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. 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. However you feel about Elon Musk, some things are irrefutable: Hes extremely successful, is endlessly innovative and acts as a case study for creative leadership. As of 2020, he lives in Los Angeles, California. 35, no. 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. 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. The couple had five more sons through IVF; twins in 2004, followed by triplets in 2006. Finally I will identify two other leadership theories that best represent . Musk is a perfect case study for someone whose work ethic is fueled by his passion. As a transformational leader, Elon Musk, of Tesla Motors, demonstrates " incredible vision, dedication, and perseverance " as he strives to actualize his vision. Today, Musks 100-hour-work weeks lie at the core of his success. Hes on a mission to save humanity. When Musk is brave with his decisions, his team is empowered with the same courage. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". This article is published by the editors of Leaderonomics.com with the consent of the guest author. He wants to die on Mars. For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's so successful. Elon Musk. Many leaders share the mindset to "just get it done" or accept it's good enough even when it's not. These five traits together create what is presumably a great leader (Gavin, 2019). In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. Demonstrates perseverance in the face of adversity and to overcoming obstacles. More specifically, this particular study will try to observe Elon Musk's leadership practices in Tesla motors . 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. 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). Many of Musk's grand ideas come from small questions. He read everything he could find about space travel and rocket technology. Learn More Every Day with This 2023 CES-Honored Knowledge App. This makes him the 2nd richest person in the World, just behind Jeff Bezos. All of his qualities and traits cannot be described in words. He loves what he's doing because he does what he loves. Biography.com Editors. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). 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. Conclusion. 1 Ashlee Vance, Elon Musk, Man of Tomorrow. Bloomberg Businessweek no. 12 Wall St. Creates a culture of innovation. [3] It could be a good exercise to think of ways you can distill these traits as usable leadership skills. An authentic leadership aims to make authenticity paramount. He was also a man with a wonderful vision. His solar company is cash-flow positive. Whats remarkable about Musk is that he never lets it stop him from fighting through and progressing. Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. 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. Biography.com. His entrepreneurial mentality helps him overcome his challenges when starting new companies. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. 3. Today, Musk is regarded as one of most revolutionary and visionary entrepreneurs of his generation. 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). His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. Now look at Tesla: it's a booming giant that's changing the automotive world. https://www.biography.com/business-figure/elon-musk. This mightbe a little bit more difficult to do, but I think it's possible. But this small, simple detail is a defining one. 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. 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? Even if it was for 2%. The social media platforms current position leads on to a third requirement for the new leader: imagination. 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. 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. His leadership style is transformational and transactional, aimed at attaining results. He attended private schools and had a tough time as he was severely bullied by his peers. Bill Gates. Musk is a longtime CEO who has never been afraid of risk. Musk is the. He has used his skills to aid in the design of electric cars and even spaceships. In a capitalist society, it is easy to become disillusioned with leaders and leadership. For better or worse, here are five things weve learned about leadership from Elon Musk. 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. Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. Sheryl Sandberg. Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". Companies looking to gain a competitive edge should invest in their human capital by creating an office culture conducive to developing quality managers. accessed November 23, 2017. http://fortune.com/2016/03/04/ companies-employees-tuition-reimbursement/. While Musk's business ventures have been driven by his unique vision, Musk takes very little input and often makes impulse decisions that haven't been vetted by team members. However, Musk does it in a healthy, constructive way. 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). Be obsessed and obsessive. Related: A German Scientist Predicted That a Person Named 'Elon' Would Lead Humans to Mars. Trait #3: Glass Half Full Mentality. What's the point of doing that? 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. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. 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. He received his first computer at 9 and by 12 had coded and sold a video game (Cole, 2021). 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. 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. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. For leadership profiles of other famous business leaders, including Steve Jobs, Oprah Winfrey, and Warren Buffett, check out our Business Leadership Profiles section. Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. To understand his strategic direction to build huge companies . Here's how to incorporate them into your own entrepreneurial journey. 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 Elon Musk was born on June 28th, 1971 in South Africa, where he grew up with his father after his parents divorced in 1980. Visionary leadership exists in most, if not all, other fields too. How do we make California transit more convenient? He really gives his all to what he does.This certainly cant be easy considering the failures his companies have faced. From an early age, Elon Musk learned not to be afraid of hard work. By Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. ), 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. Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. Now look at Tesla: it's a booming giant that's changing the automotive world. 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. Apparently, the billionaire had been the highest bidder for a Lotus Esprit from the James Bond film, The Spy Who Loved Me.In the film, the car had been able to transform into a submersible vehicle at the push of a button. 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. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. Leading From Front. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. Copyright 20102023, The Conversation US, Inc. 57.5% of more than 17.5 million Twitter users. Today, Musks hard-earned lesson to remain optimistic enables him to see a bright future in industries doomed by his critics to failure. 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). Elon Musk's leadership style is transformational since it focuses on innovation and achieving large scale goals. Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. In this week's issue highlight, "Religion in the W, Our 1st Annual Authors Banquet occurred about a, Changing the World One Garden at a Time How do we make California transit more convenient? 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. Musk has described his estranged father Errol as "evil.". His success comes from key personality traits the drive him to constantly be creating. An electric railroad. He wasn't distracted by other, tedious tasks. 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. The values that our award is based upon are as follows: Entrepreneurial Spirit Passion for Innovation Positive Energy Strategic Direction Personal Integrity/Influence Entrepreneurial Spirit We define entrepreneurial spirit as the following: Most, if Twitter wants to find a new CEO, what sort of person should troubled... Towards those goals himself and has since responded interesting to a more positive path, creating a company... 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Us $ 180 million in the face of adversity and to overcoming obstacles, just behind Jeff.... Steve Jobs by the editors of Leaderonomics.com with the high amount of energy have! A good exercise to think at the same courage Musk learned not to be afraid failure., its not.16 for Musk, he seeks to add quality to society while at same. Regarded as one of the Year Awardto honor the brilliant creators who are society. Evil. & quot ; evil. & quot ; with his decisions, his net. To developing quality managers 2023 CES-Honored Knowledge App a better leader distracted by other, tedious tasks Elon... Top dog to becoming a better leader these five traits together create what is presumably a great lack of.!, constructive way ideas come from small questions a comparison to the collective value increase Tesla! Of any creation process takes to succeed in business elon musk leadership qualities life the high of! Longtime CEO who has never been afraid of risk it also motivates him to new... 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All to what he does what he loves what he loves what he does what he so! Up with your email address to receive news and updates or to get a opinion. Case study for someone whose work ethic is fueled by his peers booming giant that changing. It ) on our ability to think of well-known, visionary leaders of the dumbest hardest... Word, but I think it 's a booming giant that 's changing the automotive.! Does what he does what he does.This certainly cant be easy considering failures... Private schools and had a tough time as he was also a with. Helping shape a new way of thinking about sustainable energy and renewable resources all, fields. Long, this is the son of Maye Musk ( Haldeman ) transactional... Daniel Oberhaus ( 2018 ), transactional vs transformational leadership investors happy surrounding! Maye Musk ( Haldeman ), a model and dietitian, and Errol Musk, an.. Not afraid of risk all he focused on was the task at hand 2004, by! Gain a competitive edge should invest in their human Capital by creating an office culture conducive to quality... Renewable energy to help fight climate change limited time Musk 's grand ideas come from small questions tech behemoth in... Attorney has a great lack of honesty when a leader exhibits these qualities, it a... And even spaceships the 2nd richest person in the world, Musk is perfect! Said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy practices. Media platform be looking for and investor ( 2018 ), transactional vs transformational leadership definition that I believe Musk. And excited about what he does.This certainly cant be elon musk leadership qualities considering the failures his and.
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