Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. 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. Shareholders in the car firm would probably like their hitherto successful CEO back full time. He received a 98% on one of his tests. 1. . Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. Question and challenge the status quo. As a child, Musk became interested in computer programming and taught himself to code. 3. Why? 3 (May/June 1992). Why is Elon Musk so scared of Artificial Intelligence? It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). All he focused on was the task at hand. (2021). 8 Simon Sinek. This article is published by the editors of Leaderonomics.com with the consent of the guest author. Elon Musk is one of the most innovative and driven entrepreneurs of our time. Do you stand firm in defence of your vision? Qualities of a visionary leader. 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. But this small, simple detail is a defining one. 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). He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. 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). 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. 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. 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. 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. It turns into a mission or game, and we find ourselves enjoying what we're doing. Elon Musk has always been remembered as a transformational autocratic leader. Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. Nations hire him to get to outer space. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. Along with the transformational approach, Elon Musk as a leader believes in achieving the impossible, embracing failures, cutting back on unimportant . Companies looking to gain a competitive edge should invest in their human capital by creating an office culture conducive to developing quality managers. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. He then tried to pull out of the deal in July, before finally taking ownership in October. He dreams about stuff that no one else would Explore the amazing adventurehe wishes to take us all upon. 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. Elon Musk is such kind of a leader who possesses a lot of leadership qualities and styles. Superheroes emulate him. And Musk fits that bill perfectly. 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 work ethic, they don't quite reach Musk's level. While he has garnered enormous respect due to his transformational leadership, he still exhibits autocratic leadership traits. 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. An authentic leadership aims to make authenticity paramount. The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. 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 Indeed, Musks reaction to finally getting his hands on Twitter has been reminiscent of Christmas morning, when children rip open presents, display initial excitement and then quickly lose interest. . Today, Musk is regarded as one of most revolutionary and visionary entrepreneurs of his generation. Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. He has had many failures in the course of his career, ranging from mechanical failures in his Tesla brand to rockets crashing. Biography.com Editors. Stay up to date with what you want to know. But can we describe why the SpaceX CEO is the way he is? Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. Co-founder, PayPal. Stay laser focused and don't procrastinate. Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. 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? Its long, but well worth the read! 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. Hes on a mission to save humanity. He wasn't distracted by other, tedious tasks. Their first child was lost to Sudden Infant Death Syndrome (SIDS) (Cole, 2021), which was the second notable critical life event. As of October 2016, his estimated net worth is US$11.5 billion. He wasn't distracted by other, tedious tasks. Now look at Tesla: it's a booming giant that's changing the automotive world. 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. Elon Musk, one of the most creative leaders of our time, is widely seen as a visionary. However, there's no denying that Elon Musk deserves a spot near the top of that list. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. Elon Musk's leadership style is awe-inspiring - most of the time. 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?. . 19 Nicholas A. Christakis, and James H. Fowler, Connected: The Surprising Power of Our Social Networks (New York: Back Bay Books, 2011). Im lucky I have all my fingers.2 A pattern of learning and experimentation continued for Musk into his adult career. Leaders are often faced with complex challenges that require critical thinking and effective decision-making. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. 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. He is honest, hard-working, and a leader who has influenced many. 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 . He then takes each answer to the question and attempts to flesh it out in the best possible way. He read everything he could find about space travel and rocket technology. Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. This is a BETA experience. 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. accessed November 23, 2017. http://fortune.com/2016/03/04/ companies-employees-tuition-reimbursement/. Here are five leadership qualities that make Musk an exceptional leader. 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.". This mindset helps him stay motivated and excited about what is next. 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. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. Interesting business experiences from the past. Musk is obviously intense. 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. Warren Buffett. At 17, he did not have the support of his parents and lived in poverty as a resident in Canada, 1989, while awaiting citizenship in the United States (Cole, 2021). Leaders Eat Last (New York: Portfolio/Penguin, 2014). Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. Musk is a perfect case study for someone whose work ethic is fueled by his passion. When considering Elon Musk under the lens of authentic leadership, it is clear he has the necessary leadership traits. I believe Musk's exceptional ability to healthfully maintain his intensity comes because of his flow state mindset, his passion for his work, and his absolute focus. The social media platforms current position leads on to a third requirement for the new leader: imagination. By clicking Sign up, you agree to receive marketing emails from Insider 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. His entrepreneurial mentality helps him overcome his challenges when starting new companies. 2.1.3.1 Visionary Leadership Elon Musk is an example of the visionary leader. 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. From time to time, take the time to reflect on your own performance as a leader. He then takes each answer to the question and attempts to flesh it out in the best possible way. 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!! Leadership: Theory and Practice. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. Nominate him or her for our award by visiting here. The delegation of duties and the . His financial decisions even resulted in him borrowing money to pay rent for a period of time.He has justified his unusual entrepreneurial moves saying, If I ask investors to put money in, then I feel morally I should put money in as well. Or as he has more colourfully puts it. 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. 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. Confidence and independence. This might be a little bit more difficult to do, but I think it's possible. And the commitment to bettering ones self in conjunction with honing leadership skills, and embracing a mission we put ourselves in a position to be great leaders. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. Together with his brother, he founded Zip2 which was an online directory for businesses. Oprah Winfrey. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. 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. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. Here's how to incorporate them into your own entrepreneurial journey. 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. Since youre here, wed like to ask you to consider donating to the maintenance and upkeep of our site, which as it turns out is pretty expensive. You have two choices in life - to see the world as a pessimist, or . He praised Elon Musk's ambition, revealed the traits and attitudes he looks for in people, and cautioned against becoming a VC just to get rich. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. Cant think of someone who would be a great mentor? Demonstrates perseverance in the face of adversity and to overcoming obstacles. 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. His success comes from key personality traits the drive him to constantly be creating. Related: 61 Books Elon Musk Thinks You Should Read. 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). Further, Musk has been selling billions in Tesla stock and its share price is down by over 60% this year. 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. Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. He wants to die on Mars. He loves what he's doing because he does what he loves. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. I think its very important to have a feedback loop, where youre constantly thinking about what youve done and how you could be doing it better. He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. How often are you distracted? You can't . His speeches are marked with . 1. The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. 8. 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. 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 Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. Elon Musk's leadership style makes him unique and better than almost anyone. Its been a tumultuous year for Twitter and Musk. References Twitter is struggling financially. He hires brilliant and talented individuals that can design and develop his products. Musk has taken out personal loans amounting to millions to keep his ventures afloat. The way Elon Musk leads his various companies takes the old adage of shooting for the moon so that even if you miss, youll end up among the stars, from sage wisdom to literal direction. , but its the ideal opportunity to clarify your intentions and redirect employees to a third requirement for the leader! Feel Elon Musk has communicated and collaborated with through social media platforms has contributed to the troublemakers elon musk leadership qualities organization., what could I have all my fingers.2 a pattern of learning is one of guest., but I think it 's possible complex challenges that require critical thinking and decision-making. 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