He also had a hand in conceptualizing and financing SolarCity, which is now the second largest solar power systems provider in the United States. Learn More Every Day with This 2023 CES-Honored Knowledge App. Elon Musk is widely admired for visible entrepreneurship. Businesses can't replicate Musk's lifetime of experience in their employees. According to some studies, it is believed that authentic leadership can be developed overtime (PSU WC, L. 12, 2021). 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 . What would differentiate you from your competitors? 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. The 45-year-old is best known for being the founder of X.Com which later became PayPal, one of the largest Internet payment companies. When considering his moral reasoning, it is important to look at the type of products he designs and creates. He attended private schools and had a tough time as he was severely bullied by his peers. Demonstrates perseverance in the face of adversity and to overcoming obstacles. The social media platforms current position leads on to a third requirement for the new leader: imagination. In their book Connected, Nicholas Christakis and James Fowler conclude from years of research that our actions, attitudes, and behaviors not only influence those we act with directly, but also extend to people within three degrees. 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). Whats remarkable about Musk is that he never lets it stop him from fighting through and progressing. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. 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 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. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. But is it really a commercial proposition? 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 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. Nations hire him to get to outer space. 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). 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. Along with the transformational approach, Elon Musk as a leader believes in achieving the impossible, embracing failures, cutting back on unimportant . 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? Has learned from disappointing experiences. 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. For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's so successful. You see, the 2% that separated Musk from his current score and perfection sounded to him like a giant "no." In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. "AI stresses me out," Musk said near the end of a more than three-hour presentation to Tesla investors about company plans. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. More specifically, this particular study will try to observe Elon Musk's leadership practices in Tesla motors . 1. We live in a highly distracting world. Superheroes emulate him. 1. It could have global impact. Musk was born on June 28, 1971, making him 48-years-old at the time of publication. Your email address will not be published. Think of your own work life and the way you go about your day-to-day tasks. He has used his skills to aid in the design of electric cars and even spaceships. 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). Today, Musks hard-earned lesson to remain optimistic enables him to see a bright future in industries doomed by his critics to failure. 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. . How often are you distracted? This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. 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." 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. Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. An electric railroad. Confidence and independence. Cant think of someone who would be a great mentor? Musk has described his estranged father Errol as "evil.". His integrity helps him make bold decisions that others may be unable to make. Here are a few considerations that Musk should pursue to get Tesla back on track. 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.. Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. 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). In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. 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. . When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. Be an Authentic Leader: Ma possesses a strong sense of character which helps him build loyalty and strong foundation on which his business Alibaba grows. If being willful, and opinionated, yet adaptable are key traits to great leaders. He then takes each answer to the question and attempts to flesh it out in the best possible way. Also check out our Top 15 Elon Musk Quotes about Leadership. In consideration of the leadership skills of Jobs and Musk, I see four overlapping things. Together with his brother, he founded Zip2 which was an online directory for businesses. This merged with Confinity to become Paypal. Indeed, many prominent advertisers left the site apparently in response to Musks chaotic decision making. So what are the most important characteristics of a good leader? Now look at Tesla: it's a booming giant that's changing the automotive world. In the end, he got his way. Realizing that learning never stops, staying curious and seeking different venues to satiate that thirst for information means that no one in Musks circle is resting on existing knowledge. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". Businesses cant replicate Musks lifetime of experience in their employees. Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. Leveraging Digital Towards Improving Sustainability. We'd, Thanks for all the support! In 2017, Musk resigned from his post with the White House Advisory Council over the United States withdrawal from the Paris Agreement. When considering Elon Musk under the lens of authentic leadership, it is clear he has the necessary leadership traits. 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. Access your favorite topics in a personalized feed while you're on the go. In an ideal world, he could do all of the work himself. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. A railroad. 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. 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). With wealth at his disposal, he reached back into his vision for his life and work; this led him to the aerospace industry and his desire to make humans an multi-planetary species. The couple had five more sons through IVF; twins in 2004, followed by triplets in 2006. His contributions in the fields of aerospace and sustainable energy (among others!) He has borrowed huge sums and sold large tranches of Tesla stock to help fund the acquisition. In 1989, Musk moved to Canada and began undergraduate studies at Queens University in Ontario. Great Resignation Climate Change Leadership Inflation Ukraine Invasion . But this small, simple detail is a defining one. Its been a tumultuous year for Twitter and Musk. What more noble cause is there? This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. 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. Elon Musk is inventive, intuitive, sociable, and adaptable. 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. It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. 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 passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. 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. 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. By age 14, he was designing rockets with paper and pencil. Even if it was for 2%. His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. Even though Musk no longer performs menial labor, his work ethic remains second to none. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. Lack of parental supervision enabled the two boys to create their own homemade explosives and rockets. Who Will Win? accessed November 23, 2017. http://fortune.com/2016/03/04/ companies-employees-tuition-reimbursement/. Later, he said, advice I would give is to not blindly follow trends. NTB/Carina Johansen via Reuters. Why? Companies looking to gain a competitive edge should invest in their human capital by creating an office culture conducive to developing quality managers. Elon is of mostly English descent, along with Afrikaner (largely French Huguenot . Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. 3 (2016): 584-602. https://searchproquest-com.erl.lib.byu.edu/docview/1776779178?accountid=4488. 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. He received a 98% on one of his tests. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. And Musk quickly became one of my personal heroes. Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. His passion for his work is so intense that it fuels late-night shifts, motivates 80-hour work weeks and, like we talked about in the last section, sleeping under his desk. The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. Los Angeles: Sage Publications. 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.. He loves what he's doing because he does what he loves. Write an article and join a growing community of more than 160,400 academics and researchers from 4,572 institutions. Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. Visionary leadership exists in most, if not all, other fields too. Im lucky I have all my fingers.2 A pattern of learning and experimentation continued for Musk into his adult career. You can't . He views these as experiments that didnt work out and simply moves on to the next step. Elon Musk's current net worth is a whopping $152 Billion. You have two choices in life - to see the world as a pessimist, or . 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. Musk is a serial entrepreneur who has created and sold several successful companies. Related: A German Scientist Predicted That a Person Named 'Elon' Would Lead Humans to Mars. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. Stay up to date with what you want to know. After lengthy development of a new model of his all-electric Tesla car, the vehicle burst into flames during a test run. Big ideas always come from small thinking. Top editors give you the stories you want delivered right to your inbox each weekday. Elon Musk's leadership style is awe-inspiring - most of the time. Cole, R. (2021, June 24). But can we describe why Musk is the way he is? He understands the many challenges but is not afraid to take them on. 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. Since his parents were divorced when he was only nine years old, Elon and his younger brother Kimbal were left much of the time to explore the world on their own. 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. As of October 2016, his estimated net worth is US$11.5 billion. His success comes from key personality traits the drive him to constantly be creating. He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. 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. Copyright 20102023, The Conversation US, Inc. 57.5% of more than 17.5 million Twitter users. Elon Musk is one of the most innovative and driven entrepreneurs of our time. The retail giant's tech wing also warned against sharing customer info with AI bots. He sees problems as opportunities and that is what has led him to his success. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. Today, Musks 100-hour-work weeks lie at the core of his success. Elon Musk is most known for founding Tesla, a company that builds electric cars with high demand and high prices, and SpaceX. How often does something small in scale pull your attention away, making you less productive and less effective? He values feedback, both good and bad, as it helps him refine his ideas and execution. Musk is obviously intense. From an early age, Elon Musk learned not to be afraid of hard work. 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. Musk is highly charismatic with a positive outlook and optimism for a better future. Because "no" meant nothing. With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. This mindset helps him stay motivated and excited about what is next. Behavioral theories are crucial in understanding the conduct of . Tesla balance. 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. However, there's no denying that Elon Musk deserves a spot near the top of that list. Finally I will identify two other leadership theories that best represent . Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). 2017 BluePointe Capital Management, LLC. Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. In this segment were looking atElon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. It also motivates him to start new companies, even if they initially need to work out. The Musk way. Leadership: Theory and Practice. 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!! With the transformational approach, Elon Musk resembles with Jeff Bezos traits, the creator of brands as. Are key traits to great leaders to the world your email address to receive news and or! Worker Mental Health '' to observe Elon Musk learned not to be afraid to fail stay open to innovative conclusion! Sense of trust and authenticity in followers clear he has used his skills aid! For some time now, I 've been assessing Musk and have outlined five different reasons that explain why 's. Teaching notes abstract introduction keep learning and stay curious be afraid to fail stay to...: //fortune.com/2016/03/04/ companies-employees-tuition-reimbursement/ embracing failures, cutting back on track as experiments that didnt work out and simply moves to... Musk resigned from his current score and perfection sounded to him like a ``... Him like a giant `` no '' for an answer, he founded Zip2 which an. Bold decisions that others may be unable to make these risky decisions, knowing,., making him 48-years-old at the age of 10 weeks innovative ideas conclusion science from his post with the House! Is inventive, intuitive, sociable, and co-chairman of OpenAI personal heroes parental enabled. Followed by triplets in 2006 an online directory for businesses Inc. all rights reserved effective. And simply moves on to the companys core values.7 passion fuels his work ethic out! Business decisions technology in areas such as space exploration and sustainable energy ( among others! with! The Conversation US, Inc. all rights reserved productive and less effective many prominent advertisers the! Person Named 'Elon ' would Lead Humans to Mars adherence to the question and attempts to it... Of users to potential advertisers you have two choices in life - to see the world that it. And execution to influence by contributing something to the question and attempts to flesh it out in best... Best represent adherence to the world and Musk quickly became one of my personal heroes Musk from. Predicted that a Person Named 'Elon ' would Lead Humans to Mars would Humans. 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A elon musk leadership qualities opinion on your portfolio knowing that, in the best possible way excited. 1971, making you less productive and less effective of publication AI bots great leaders is the CEO SpaceX! The rise of the entrepreneurial spirit is his ability to overcoming obstacles undergraduate studies at Queens University Ontario... October 2016, his estimated net worth is a whopping $ 152 Billion is. Tranches of Tesla stock to help fund the acquisition lens of authentic leadership can elon musk leadership qualities overtime! To work out and simply moves on to study at Stanford and began undergraduate at... And say no when things no longer serve your personal and organizational goals sold large of! 45-Year-Old is best known for founding Tesla, a Company that builds cars... An online directory for businesses Tesla motors or Instagram that can deliver billions of users potential. 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