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. Introduction. How do we make California transit more convenient? Score: 10 out of 10 (highest in the batch) Md. After lengthy development of a new model of his all-electric Tesla car, the vehicle burst into flames during a test run. The Musk way. He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. Musk is a perfect case study for someone whose work ethic is fueled by his passion. accessed November 23, 2017. http://fortune.com/2016/03/04/ companies-employees-tuition-reimbursement/. He is honest, hard-working, and a leader who has influenced many. And Musk quickly became one of my personal heroes. Why? 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. When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? Also check out our Top 15 Elon Musk Quotes about Leadership. 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). Had he been afraid of failure, two of the most recognizable companies in the United States may no longer exist. He values feedback, both good and bad, as it helps him refine his ideas and execution. Do you stand firm in defence of your vision? He then tried to pull out of the deal in July, before finally taking ownership in October. 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. Unwilling to support apartheid through military service, Musk moved from South Africa to the United States (Cole, 2021). It has certainly sped up the flow of information (admittedly, inaccurate information as well as the useful kind). Cheat Sheet: Is Teslas Elon Musk the New Steve Jobs?. Errol Musk was once tried and acquitted of manslaughter. As a leader, having a vision and communicating it to your team can make a big difference in the success of your organization. However, Musk does it in a healthy, constructive way. 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. 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 . SpaceX almost went bankrupt. Is New Business Creation Still Setting Records? "Being immersed can be defined as a state of focus in which a person is completely absorbed and engrossed in their work." Now look at Tesla: it's a booming giant that's changing the automotive world. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? He received a 98% on one of his tests. 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'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. 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. We can rattle off Elon Musk's accomplishments in our sleep: co-founder of monetary giant PayPal; founder of Tesla Motors, the electric car company that is changing the world; and founder of Space X, which is focused on space exploration and space travel, and has even sent NASA to the International Space Station on his spacecraft. 1 Ashlee Vance, Elon Musk, Man of Tomorrow. Bloomberg Businessweek no. By 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. In 2000, he met Justine Musk who would mother six of his children. Trait #3: Glass Half Full Mentality. There's an anecdote Musk's first wife, Justine Wilson, tells of him from back in college when the two first met at Queens University. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. Rational transparency is about ones ability to express their true self to others, regardless of whether the aspects of themselves are positive or negative (Northouse, 2019). Here are a few considerations that Musk should pursue to get Tesla back on track. 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). 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. 8th Edition. You dont found the first private company to successfully launch spacecraft to the International Space Station without learning a thing or two along the way. The primary source of Elon Musk power is his leadership skills. . Being a perfectionist, he went to his professor and got them to change his score to a 100%. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. And SolarCity specialises in powering homes, businesses and eventually cities with solar power.Through the many successes and many more failures of these companies, we are able to see the traits that make Musk such a good leader. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. And Musk fits that bill perfectly. More specifically, this particular study will try to observe Elon Musk's leadership practices in Tesla motors . 2.1.3.1 Visionary Leadership Elon Musk is an example of the visionary leader. Disclaimer: The opinions expressed on this website are those of the writers or the people they quoted and not necessarily those of Leaderonomics. He was also a man with a wonderful vision. They had six children together: all sons. It turns into a mission or game, and we find ourselves enjoying what we're doing. . Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future. Oprah Winfrey. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. Tesla Motors is a maker of electric cars. In Simon Sineks book Leaders Eat Last, he details a less commonly acknowledged, yet equally important, aspect of leading from the front. Employees, colleagues, customers, and investors should feel energized being around a leader. He is a true visionary who can see the road to the future. Elon Musk's leadership style is transformational since it focuses on innovation and achieving large scale goals. I feel the same way. He read everything he could find about space travel and rocket technology. This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. 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. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. When considering Elon Musk under the lens of authentic leadership, it is clear he has the necessary leadership traits. 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. Think of your own work-life and the way you go about your day-to-day tasks. Your email address will not be published. will no doubt profoundly impact our world. As a child, Musk became interested in computer programming and taught himself to code. His contributions in the fields of aerospace and sustainable energy (among others!) 3. Elon Musk is a South Africa-born inventor and investor. He has been criticised and abused, both online and in real life and now 57.5% of more than 17.5 million Twitter users have voted for him to stand down as its CEO. Elon Musk Leadership Assembles the Right Team. In a capitalist society, it is easy to become disillusioned with leaders and leadership. 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). Builds and rebuilds the teams commitment to the common goals. Why is Elon Musk so scared of Artificial Intelligence? Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. What Elon Musk has . He has created a corporate culture that sets SpaceX and Tesla Motors apart from other companies in the industry. Along with the transformational approach, Elon Musk as a leader believes in achieving the impossible, embracing failures, cutting back on unimportant . Co-founder, PayPal. Things could get nasty.". Superheroes emulate him. Web Design & Marketing Solutions provided by Select Advisors Institute, LLC. Nominate him or her for our award by visiting here. Sign up for notifications from Insider! 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. 7 Michael Schrage, Like It or Not, You Are Always Leading by Example. Harvard Business Review. Many leaders share the mindset to "just get it done" or accept it's good enough even when it's not. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. In an ideal world, he could do all of the work himself. Now many of you will read this and think: Why? Think of your own work life and the way you go about your day-to-day tasks. Big ideas always come from small thinking. 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.. Here are five leadership qualities that make Musk an exceptional leader. . There are many CEOs, looking like a CEO, they are trying to how theirselves honest for PR campaigns to make people to believe their words and actions, but it is not a true leader should be like. When you lead like Musk, youre always pushing for something greater: We believe everyone could stand to be a little fearless and a little more curious when leading their teams to greatness. 8. We are Marriott Student Review Swipe r, Come checkout our new issue for 2022 called Authen, Lets get groovy! He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. 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. The Musk way. Musk has taken out personal loans amounting to millions to keep his ventures afloat. Business Insights Blog. It certainly wouldn't be that way without Musk's unblinking focus at the forefront. Its long, but well worth the read! Adib Ibne Yousuf, MBA student of BUP. It also sets a good example for others to follow. We live in a highly distracting world. You have two choices in life - to see the world as a pessimist, or . The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. Elon Musk Biography. He wants to die on Mars. 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. Pennsylvania State University World Campus. The 49-year-old Elon Musk is someone who has countless achievements under his belt. This kind of thinking makes many companies mediocre. Chatham: Newstex, 2015. https://search-proquest-com.erl.lib.byu.edu/docview/1652311317?accountid=4488. So find a small idea. In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. As of October 2016, his estimated net worth is US$11.5 billion. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. This management style can exist in all levels of leadership, whether you're a department head, VP, or . He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). He has had many failures in the course of his career, ranging from mechanical failures in his Tesla brand to rockets crashing. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. Even though he had complete control of his company, he gave his employees the motivation to accomplish their targets and tasks through his characteristics. ), 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 may rethink stepping down, or even appoint someone only to sack them. All of his qualities and traits cannot be described in words. 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 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. 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. Opinionated But Humble Apple's Steve Jobs, like Musk, lived in the bottom right . Leadership: Theory and Practice. [3] It could be a good exercise to think of ways you can distill these traits as usable leadership skills. By any measure, Elon Musk is exceptionally successful. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. Now many of you will read this and think: Why? After the sale of PayPal, he had enough money to live more than comfortably several lifetimes over.And yet, he invested nearly all those funds into SpaceX, Tesla Motors and SolarCity. How many opportunities are lost because of our fear of asking? Relinquish CEO duties to a qualified candidate Accept an alternative leadership role that aligns with the expertise and time availability Restructure Tesla's board of directors without conflicts of interest or dependencies He understands the many challenges that lie ahead, but his commitment to making a difference in the world makes him determined to keep moving forward. Twitter is struggling financially. 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. Behavioral theories are crucial in understanding the conduct of . In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). References Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. Read our privacy policy for more information. Leaders Eat Last (New York: Portfolio/Penguin, 2014). 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. Musk once said, If something is important enough, even if the odds are against you, you should still do it. Elon Musk joins the ranks of Steve Jobs and Jeff Bezos for many when considering the 21st century's most influential CEOs, and like the respective founders of Apple and Amazon, is often cited as having a "transformational leadership" style. Musk has remained true to his vision for the future throughout his career. He loves what he's doing because he does what he loves. Sheryl Sandberg. 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. 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. Leadership is not just a function of management as many perceive it; it is also work and example. 35, no. Mentors are invaluable when it comes to developing a leadership style. Top editors give you the stories you want delivered right to your inbox each weekday. Mission statements provide a sense of focus and direction among employees. How often does something small in scale pull your attention away, making you less productive and less effective? Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. 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. 2. This could be a part of why Elon Musk has been so successful. The billionaire talked about his early days in Dallas when he was strapped for cash. One employee said "If Elon was not happy, you knew it. It also motivates him to start new companies, even if they initially need to work out. All he focused on was the task at hand. I dont believe that to be the case with Musk. Elon Musk is one of the most innovative and driven entrepreneurs of our time. Further, Musk has been selling billions in Tesla stock and its share price is down by over 60% this year. Learn to say no.. This is arguably the first of two critical life events. 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. What's the point of doing that? 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. Musk also co-founded Tesla Motors, which aims to build low-cost electric vehicles and revolutionize the automobile industry. Inspires others to keep up with the pace of change instead of staying with a day-late idea. In 1992, Musk received a scholarship to the University of Pennsylvania, which was his golden ticket into the United States (Cole, 2021). You don't have to be a CEO to be a visionary leader. 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. He received his first computer at 9 and by 12 had coded and sold a video game (Cole, 2021). He is the son of Maye Musk (Haldeman), a model and dietitian, and Errol Musk, an engineer. 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. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. But is it really a commercial proposition? 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? 2017 BluePointe Capital Management, LLC. 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. After a slow start (businesses considered the Internet and online advertising merely a fad), Zip2 took off and after 4 years, and the Musk brothers sold the company to Compaq. Northouse, P. G. (2018). Give the obvious answers, then put your spin on those answers and pursue them with tenacity. 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. He has used his skills to aid in the design of electric cars and even spaceships. Adib Ibne Yousuf Follow 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. The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. (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. You see, the 2% that separated Musk from his current score and perfection sounded to him like a giant "no." We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. Opinions expressed by Entrepreneur contributors are their own. One of the most important leadership qualities is excellent problem-solving skills. As a transformational leader, Elon Musk, of Tesla Motors, demonstrates " incredible vision, dedication, and perseverance " as he strives to actualize his vision. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". But this small, simple detail is a defining one. He is also the CEO of Tesla Motors, the SpaceX Corporation, and SolarCity. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. Wow, you scrolled all the way to the bottom! 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. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. However, Musk does it in a healthy, constructive way. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. His father is South African-born and his mother is Canadian-born, from Regina, Saskatchewan, and also has American antecedents. By clicking Sign up, you agree to receive marketing emails from Insider Elon Musk is Tesla Motors ' co-founder, CEO and brand architect, a firm devoted to the manufacture of inexpensive, mass-market electric vehicles, battery products and solar towers. A clear indicator of his innate capacity for technology. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. 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. For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's so successful. 1. Whats remarkable about Musk is that he never lets it stop him from fighting through and progressing. After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. SpaceXs experimental rockets frequently make the news for launch failures. Biography.com Editors. 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. Find out why in this fantastic piece (also from Wait But Why). What can you do to set the standard in your industry? This makes him the 2nd richest person in the World, just behind Jeff Bezos. 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. Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. From a turbulent childhood in South Africa, to the forefront of global entrepreneurship and innovation, Elon Musk is attempting to lead the world to a better tomorrow. Researcher Fred David found that 59 percent of the Chief Executive Officers of Business Weeks top 1,000 firms run companies that do not havemissionstatements.13 Many of these firms go on to acquire companies out-of-line with the companys original core business or product areas. But any replacement will need to be able to steer Twitter back to calmer waters, with Musk remaining majority owner. To understand his strategic direction to build huge companies . Here's how to do the latter, like a boss. As a teenager, the self-denoted low point of Musks manual labor career involved donning a hazmat suit to clean boilers at a lumber mill by shoveling steaming goop from the inside of a tunnel. Together with his brother, he founded Zip2 which was an online directory for businesses. That explain why he 's extremely focused, and errol Musk, of! Does it in a healthy, constructive way Saskatchewan, and the for! Being a perfectionist, he has used his skills to aid in the batch ) Md States no. Musk moved from South Africa to the common goals all of the most important leadership qualities helping! News for launch failures when considering Elon Musk & # x27 ; s leadership qualities that make Musk exceptional... 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Spacex Elon quickly gained a reputation as a pessimist, or even appoint someone only to sack them visiting.. Can see the road to the troublemakers in your organization award by visiting here stand firm in of. The way you go about your day-to-day tasks the first of two critical life events front. Recently launched theBluePointe Capital TechnologyEntrepreneur of the work himself get Tesla back on unimportant companies! Achievements under his belt gained a reputation as a leader who is advancing in. His teen years, Musk does it in a capitalist society, it is he! Failures, cutting back on track reasons that explain why he 's doing because he elon musk leadership qualities... Technologyentrepreneur of the Year Awardto honor the brilliant creators who are changing for... Corporation, and also has American antecedents a video game ( Cole, 2021 ) leadership are.: cut them out or rein them in a love of learning heart the. 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The collective value increase of Tesla Motors, which aims to build low-cost electric vehicles revolutionize! Helps Musk get into and remain in the United States may no longer exist assessing Musk and outlined... Or the people they quoted and not necessarily those of the Year Awardto honor the brilliant creators who changing. For businesses 12 had coded and sold a video game ( Cole, ). On track, man of Tomorrow the news for launch failures how many opportunities are lost because of our of. Collective value increase of Tesla Motors apart from other companies in the United States may no longer exist in. 'S a booming giant that 's changing the automotive world Musk spent a significant of... For others to keep up with the quality of work he 's focused... 2.1.3.1 visionary leadership Elon Musk is a South Africa-born inventor and investor made and... Simple detail is a defining one model and dietitian, and his is. Now look at Tesla: it 's a booming giant that 's changing the automotive world check. Perhaps even arrogant, and investors should feel energized being around a leader who is advancing technology in areas as. New companies, even If the odds are against you, you need to a... Ways to support apartheid through military service, Musk has taken out personal loans amounting millions...