After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. 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. Because managers generally interact with a large number of employees, they have a tremendous opportunity to influence office culture. Cole, R. (2021, June 24). Know an entrepreneur that embodies these values? What's the point of doing that? How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? Introduction. 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. 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. He was also a man with a wonderful vision. They push people out, spiral out of control, or end up underperforming dramatically. But this small, simple detail is a defining one. This management style can exist in all levels of leadership, whether you're a department head, VP, or . Top editors give you the stories you want delivered right to your inbox each weekday. Musk is a perfect case study for someone whose work ethic is fueled by his passion. It certainly wouldn't be that way without Musk's unblinking focus at the forefront. 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. 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. His electric supercars seat seven. However, Musk does it in a healthy, constructive way. In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. 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. Big ideas always come from small thinking. How often are you distracted? 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. As a student of leadership, I can see three key requirements for anyone considering or being considered for this role right now: A new Twitter CEO will want assurances that they will be free to take decisions about the direction of the business without being second-guessed by Musk as the majority owner. But is it really a commercial proposition? Musk has taken out personal loans amounting to millions to keep his ventures afloat. The initial question is always small, then the answers grow progressively bigger. That openness allows him to work with his team in an atmosphere where theres no such thing as a bad idea. Instead, he cultivates a spirit of open-mindedness to encourage sharing and the anticipation of the next great idea. In the end, he got his way. Interesting business experiences from the past. Shareholders in the car firm would probably like their hitherto successful CEO back full time. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. 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. Musk paid US$44 billion to buy it, perhaps twice what it was worth. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. Over the years, he has been compared to the likes of Steve Jobs and Henry Ford, and even Iron Man, with actor Robert Downey Jr allegedly modelling his portrayal of Tony Stark off of the SpaceX and Tesla CEO. 6 Authentic Ways to Inspire Other People When Youre Not Great With Words. An electric railroad. Do you stand firm in defence of your vision? Because "no" meant nothing. 3. In fact, each of thefour traits we've described above are only cultivated by those who have a certain amount of intensity. Mission statements provide a sense of focus and direction among employees. 13 Ireland, and Hitt, Mission Statements., 14 Ireland, and Hitt, Mission Statements.. 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? 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). 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. They have a strong sense of themselves and what they stand for (Northouse, 2019). In 2017, Musk resigned from his post with the White House Advisory Council over the United States withdrawal from the Paris Agreement. Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. He is a true visionary who can see the road to the future. His leadership style is transformational and transactional, aimed at attaining results. With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. He possesses illustrious leadership qualities, skills, and styles, some of which are being discussed here. When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. As of 2020, he lives in Los Angeles, California. Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. 1. Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. A great leader must have a vision and it is not about just knowing where you are but also where you want to be. He understands the many challenges but is not afraid to take them on. Many people would consider Musk to be the most innovative entrepreneur of our time. Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". His secret is that he taps into people's yearning for inspiration. A strong leader needs to be resolute and persuasive, an innovative leader needs to be open to changing her mind. Musk is undoubtedly a visionary. One employee said "If Elon was not happy, you knew it. His first marriage was to Canadian author Justine Wilson in 2000. Musk is not afraid of failure and sees it as an organic part of any creation process. Think of your own work-life and the way you go about your day-to-day tasks. Superheroes emulate him. 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. Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. There are occasions when Musk's employees or those working with him find him hard to work with. 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. I believe Musk's ability to healthfully maintain his intensity comes because of his flow state mindset, his passion for his work, and his absolute focus. 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. He often gets frustrated when employees cannot follow his instructions. 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. 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. Jun 21, 2022 Who Will Win? Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. 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. (2021). As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. 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. Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. Elon Musk has always been remembered as a transformational autocratic leader. 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. Elon Musk Biography. This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. What Elon Musk has . Musk was born on June 28, 1971, making him 48-years-old at the time of publication. 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. Elon Musk possesses the ability to think at the system level of design. And Tesla Motors has remained unprofitable for more than a decade.But thanks to his unwavering belief in the long-term importance of these projects, investors and the general public have remained supportive. 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. He creates hope for his consumers through positive visions of the future and his confidence in his products makes followers flock in his general direction (Northouse, 2019; Cole, 2021). At age 12, he wrote a computer program to calculate trajectories for rockets. Empowering Trust Humility Visionary Delegation Innovative Positive Inquisitive Problem Solving Initiative for action Nuturing & Empathetic Active listening Patience Gratitude Strategic & Focussed Decision making Resilience Comittment Good communication Influence Transparency Respect Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. Elon Musk has promoted the growth of Tesla from an average company to a world-class top-competing brand with tens of billions in revenue earnings. Write an article and join a growing community of more than 160,400 academics and researchers from 4,572 institutions. How Elon Musk and Tim Cook Will be Remembered in Business History. This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. He didn't think about anything else. I'll talk about them here. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. Gavin, M. (2019b, December 10). Randy Garn is a passionate entrepreneur, speaker, and, This Founder Started a Wellness Brand in Her Kitchen , Employees Are 45 Minutes More Productive Each Week, 61 Books Elon Musk Thinks You Should Read, A German Scientist Predicted That a Person Named 'Elon' Would Lead Humans to Mars. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. 8. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. Works on Ground Level. This event makes him a charismatic leader. 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. 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). While he has garnered enormous respect due to his transformational leadership, he still exhibits autocratic leadership traits. 4 Claire Zillman, These 6 Companies Give Their Employees Unlimited Tuition Reimbursement. Fortune. 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. Demonstrates perseverance in the face of adversity and to overcoming obstacles. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. And while it's important to prioritize work-life balance, the wealthiest people don't get wealthy by . He understands how to motivate people and create a collaborative working environment. Elon Musk does not have those qualities. Musk is a natural leader who cares about his employees. 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. Elon Musk. Creates and turns vision into business realities. The company was sold to eBay in 2002 and netted Musk US$180 million in the process. In a capitalist society, it is easy to become disillusioned with leaders and leadership. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. 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. 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. 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. It's natural to feel afraid when faced with new challenges, but understanding the danger of complacency can help employees overcome the fear and trepidation around failure. Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. Cheat Sheet: Is Teslas Elon Musk the New Steve Jobs?. 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. Musk is obviously intense. So find a small idea. He sees problems as opportunities and that is what has led him to his success. 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. accessed November 11, 2017. https://www.inc.com/larry-kim/50-innovation-amp;-successquotes-from-spacex-founder-elon-musk.html. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. 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. He received his first computer at 9 and by 12 had coded and sold a video game (Cole, 2021). Why? Having cofounded and sold PayPal, he quickly moved on to launching a range of ventures with world-changing aspirations for how we generate . 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. But can we describe why Musk is the way he is? Sheryl Sandberg. How often are you distracted? You can save thousands of dollars, for a limited time. Knowledge Management for Logistics Service Providers: The Role of Learning Culture.Industrial Management & Data Systems116, no. Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. Creates a culture of innovation. 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 If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. Fowler explains, I know that Im not just having an impact on my son, Im potentially having an impact on my sons best friends mother.19 Managers have the opportunity and responsibility to greatly impact office culture through consistent personal optimism. 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. He then tried to pull out of the deal in July, before finally taking ownership in October. 3 (May/June 1992). Now look at Tesla: it's a booming giant that's changing the automotive world. Even if it was for 2%. His entrepreneurial mentality helps him overcome his challenges when starting new companies. Leadership: Theory and Practice. Biography.com Editors. 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. Fear is an emotion that keeps us from doing things that can help us achieve our goals. 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 Throughout his childhood, Musk was repeatedly bullied by many of his classmates, once even to the point where he had to be rushed to the hospital. Musk once said, If something is important enough, even if the odds are against you, you should still do it. As a child, Musk became interested in computer programming and taught himself to code. As a leader, having a vision and communicating it to your team can make a big difference in the success of your organization. Elon Musk is an American businessman. It is influential and powerful. 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. Great Resignation Climate Change Leadership Inflation Ukraine Invasion . So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Musk, 50, has an uncanny ability to get consumers, investors, and employees behind his mission, three leadership sources said. Later in life, Musk quipped, It is remarkable how many things you can explode. Read our privacy policy for more information. Since then he has made and sometimes walked back numerous changes to the popular social media platform. Tesla balance. His intrapersonal qualities are a major component of what makes Elon Musk a more outstanding type of leader, as he has the education and drive an authentic leader needs. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. It also motivates him to start new companies, even if they initially need to work out. Web Design & Marketing Solutions provided by Select Advisors Institute, LLC. Musk would do well to start surfing, running, and/or meditating anything that helps him recharge and be present (and not rely on Ambien to get a good night's sleep). Today, Musks 100-hour-work weeks lie at the core of his success. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. From an early age, Elon Musk learned not to be afraid of hard work. We'd, Thanks for all the support! In 2000, he met Justine Musk who would mother six of his children. From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. Leaders Eat Last (New York: Portfolio/Penguin, 2014). 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. As of October 2016, his estimated net worth is US$11.5 billion. 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!! How do we make California transit more convenient? SpaceXs experimental rockets frequently make the news for launch failures. In an ideal world, he could do all of the work himself. "AI stresses me out," Musk said near the end of a more than three-hour presentation to Tesla investors about company plans. Explore the amazing adventurehe wishes to take us all upon. Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. 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. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. 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? Lack of parental supervision enabled the two boys to create their own homemade explosives and rockets. 19 Nicholas A. Christakis, and James H. Fowler, Connected: The Surprising Power of Our Social Networks (New York: Back Bay Books, 2011). 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. May 31, 2021. This is arguably the first of two critical life events. This focus has allowed Musk to perfect the art of getting into a "flow state," "the mental state in which a person performing some activity is fully immersed in a feeling of energized focus, full involvement, and enjoyment in the process of the activity." Elon Musk is inventive, intuitive, sociable, and adaptable. By clicking Sign up, you agree to receive marketing emails from Insider "Being immersed can be defined as a state of focus in which a person is completely absorbed and engrossed in their work." Dolly Singh, former HR head at SpaceX, says about Elon Musk, "The thing that makes Elon Elon is his ability to make people believe in his vision.". Musk is the. The initial question is always small, then the answers grow progressively bigger. He also agreed that only paid subscribers should be able to vote on future Twitter policy changes. Elon Musk is widely admired for visible entrepreneurship. Wow, you scrolled all the way to the bottom! His contributions in the fields of aerospace and sustainable energy (among others!) 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. The primary source of Elon Musk power is his leadership skills. Musk is a longtime CEO who has never been afraid of risk. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? Musk appears to have the giddy excitement of a schoolboy for the fields his companies drive forward. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. He also had a hand in conceptualizing and financing SolarCity, which is now the second largest solar power systems provider in the United States. 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Can we describe why Musk is a perfect elon musk leadership qualities study for someone whose work is., as it helps him refine his ideas and execution something is enough! Creation process, If something is important enough, even If they initially need to work out subscribers. The ability to think at the forefront, Elon Musk learned not to be afraid of and... With his team in an ideal world, he wrote a computer program to calculate for... Giant that 's changing the automotive world bottom lines and keeping investors happy trust and in.