In the modern capitalistic world where the top executives stay away from places like factories. This makes him the 2nd richest person in the World, just behind Jeff Bezos. 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. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). Musk may have imagined that owning the website would be fun and make him feel powerful. 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. His success comes from key personality traits the drive him to constantly be creating. A strong leader needs to be resolute and persuasive, an innovative leader needs to be open to changing her mind. He received a 98% on one of his tests. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. Musk is a natural leader who cares about his employees. 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 Mission statements provide a sense of focus and direction among employees. More specifically, this particular study will try to observe Elon Musk's leadership practices in Tesla motors . 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. 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. This kind of thinking makes many companies mediocre. Introduction. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. Many of Musk's grand ideas come from small questions. He may rethink stepping down, or even appoint someone only to sack them. Elon Musk was born on June 28th, 1971 in South Africa, where he grew up with his father after his parents divorced in 1980. From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. He is a bridge between the market requirements and what the engineers on the ground aspire to do Elon Musk leads by "doing" more than "telling" Musk understands that teamwork is a necessity for any team or business to succeed. Today, Musks 100-hour-work weeks lie at the core of his success. As of October 2016, his estimated net worth is US$11.5 billion. Elon Musk has married thrice and twice to the same woman. By age 14, he was designing rockets with paper and pencil. ChatGPT vs. Bard: A Modern Day David and Goliath Story. As part of this initiative, were taking a closer look at the people and leaders who we feel embody the values that our award is based upon. Fear is an emotion that keeps us from doing things that can help us achieve our goals. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. Musk generally influences people in his organization as well as outside world by using great communication skills. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. 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. He was also a man with a wonderful vision. Stay laser focused and don't procrastinate. While Musks ability to fail may not separate him from his competitors, he differentiates himself with his ability to remain optimistic and wholeheartedly convinced that he will succeed. Elon Musk is widely admired for visible entrepreneurship. His contributions in the fields of aerospace and sustainable energy (among others!) Bill Gates. This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. But can we describe why Musk is the way he is? 2023 Leaderonomics Sdn. 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: 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). Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. The 49-year-old Elon Musk is someone who has countless achievements under his belt. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. Watch this TED Talk interview with Elon Musk: Wait But Why did anamazingseries on Elon Musk. Whether it was Paypal where he championed the idea of an online banking institution, or SpaceX which has become the first private company to successfully launch a rocket and dock at the International Space Station, or SolarCity which promotes the use of solar energy as a sustainable energy source, Musk is disrupting large industries by setting a new standard. There's an anecdote Musk's first wife tells of him back in college. 3. 3 Andrew L. Cooper, Joseph R. Huscroft, Robert E. Overstreet, and Benjamin T. Hazen. Builds and rebuilds the teams commitment to the common goals. Learn to say no.. Conclusion. Demonstrates perseverance in the face of adversity and to overcoming obstacles. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. Musk is highly charismatic with a positive outlook and optimism for a better future. 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). He also uses the feedback loop as part of his self-reflection and self-improvement he seeks to always do better than he did before as he knows that every improvement will lead him closer to achieving his goals. Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. 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. He didn't think about anything else. The Bad: While SpaceX was in full startup mode, Elon's first son, Nevada, was born. He is honest, hard-working, and a leader who has influenced many. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Gavin, M. (2019b, December 10). Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). Find out why in this fantastic piece (also from Wait But Why). If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. It is integral to employ a team that operates in a cohesive and team- oriented fashion Team Leader/Leadership. Confidence and independence. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. elon musk leadership style What is the Elon Musk leadership style (and should you use it)? Companies looking to gain a competitive edge should invest in their human capital by creating an office culture conducive to developing quality managers. 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. 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. Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. Is New Business Creation Still Setting Records? And Elon Musk had purchased this fantastical prop with the serious intention of actually making it work as depicted in the film.I was thrilled. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. 3 (2016): 584-602. https://searchproquest-com.erl.lib.byu.edu/docview/1776779178?accountid=4488. This essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. Chairman, Solar City. 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. Elon Musk is one of the most innovative and driven entrepreneurs of our time. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. 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. Also check out our Top 15 Elon Musk Quotes about Leadership. 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. 7 Michael Schrage, Like It or Not, You Are Always Leading by Example. Harvard Business Review. The billionaire talked about his early days in Dallas when he was strapped for cash. If being willful, and opinionated, yet adaptable are key traits to great leaders. The primary source of Elon Musk power is his leadership skills. 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. While Musks resume is pages long, this is the side of Elon Musk that can be easily seen through Google searches and records. But the reality has been rather different. Musk also co-founded Tesla Motors, which aims to build low-cost electric vehicles and revolutionize the automobile industry. 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. Musk has remained true to his vision for the future throughout his career. Balanced processing refers to the ability of a leader to be objective and find balance by incorporating a combination of self values, in addition to considering the opinions and values of others within the organization (Northouse, 2019). Although Elon Musk is a one-of-akind CEO, many of the leadership qualities vital to his success can be developed in managers throughout a company. You can't . 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. Tesla Motors is a maker of electric cars. 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. And Musk fits that bill perfectly. 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. Make sure you understand the fundamental principles of what youre trying to do before you get into the details, otherwise you could be building on faulty ground.. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). Im lucky I have all my fingers.2 A pattern of learning and experimentation continued for Musk into his adult career. 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. So find a small idea. Elon Musk is inventive, intuitive, sociable, and adaptable. 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. Elon Musk exemplifies the creative side of autocratic leadership. He views these as experiments that didnt work out and simply moves on to the next step. However, Musk does it in a healthy, constructive way. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. 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. Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. 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. 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. How many opportunities are lost because of our fear of asking? They had six children together: all sons. Explore the amazing adventurehe wishes to take us all upon. 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. His tremendous work ethic imbues him with credibility among his employees, who become inspired to put in longer hours because of their boss devotion to work. What's the point of doing that? . Now She Partners With Target and Uses Her Platform to Combat Medical Racism in the U.S. You Need to Ask Yourself This One Key Question, Mark Cuban's Grocery Store Hack Will Help You Score Cheaper Produce, 5 Types of Toxic Employees and How to Deal With Them (Infographic), Walmart Leaked Memo Warns Against Employees Sharing Corporate Information With ChatGPT, 5 Harvey Specter Quotes to Inspire Your Inner Baller. Later, he said, advice I would give is to not blindly follow trends. Musk appears to have the giddy excitement of a schoolboy for the fields his companies drive forward. Elon Musk is the billionaire entrepreneur and business magnate responsible for co-founding the cutting-edge companies PayPal, Tesla, and SpaceX, amongst others. Outside of the business world, Musk is leading the push for renewable energy to help fight climate change. Not only do these three specific qualities identify the definition of an authentic leader, but they help define Elon Musk and his rise to leader status and fame. To learn more about the leadership workshops and keynotes I conduct at events and corporations around the globe, click here: https://jamieturner.live/To down. 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. Who Will Win? And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. These five traits together create what is presumably a great leader (Gavin, 2019). China's birth rate declines for first time in decades. 19 Nicholas A. Christakis, and James H. Fowler, Connected: The Surprising Power of Our Social Networks (New York: Back Bay Books, 2011). 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. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. In a capitalist society, it is easy to become disillusioned with leaders and leadership. Leading From Front. I believe that he really cares about contributing to society and bringing the human race forward to a better tomorrow.After all, this is the man who allowed other automobile manufacturers to freely make use of Teslas valuable battery technology. Elon Musk is a South Africa-born inventor and investor. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. When Musk is brave with his decisions, his team is empowered with the same courage. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. 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. He displays all of the four key positive psychological attributes discussed in the Northouse (2019) text. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. 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 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. In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. However, Musk does it in a healthy, constructive way. According to some studies, it is believed that authentic leadership can be developed overtime (PSU WC, L. 12, 2021). This is a BETA experience. Tesla Motors has a significant emphasis on producing environmentally friendly cars (Cole, 2021). Think of your own work-life and the way you go about your day-to-day tasks. Mentors are invaluable when it comes to developing a leadership style. As of 2020, he lives in Los Angeles, California. Now look at Tesla: it's a booming giant that's changing the automotive world. Musk has described his estranged father Errol as "evil.". Further, Musk has been selling billions in Tesla stock and its share price is down by over 60% this year. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. 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. I would have been happy with a 98%. Authentic Leadership: What It Is & Why Its Important | HBS Online. When considering his moral reasoning, it is important to look at the type of products he designs and creates. 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). It certainly wouldn't be that way without Musk's unblinking focus at the forefront. Because managers generally interact with a large number of employees, they have a tremendous opportunity to influence office culture. Otherwise, its not.16 For Musk, the only viable option was to hold on firmly to hope.
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