During these times, he didn't think about anything else. A clear indicator of his innate capacity for technology. Apparently, the billionaire had been the highest bidder for a Lotus Esprit from the James Bond film, The Spy Who Loved Me.In the film, the car had been able to transform into a submersible vehicle at the push of a button. Knowledge Management for Logistics Service Providers: The Role of Learning Culture.Industrial Management & Data Systems116, no. 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. What would differentiate you from your competitors? 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. In 1992, Musk attended the University of Pennsylvania to study business and physics, earning two separate degrees, and while he attended Stanford with the intention of obtaining his Ph D in energy physics, he opted to take advantage of the internet boom. He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. Sheryl Sandberg. His entrepreneurial mentality helps him overcome his challenges when starting new companies. 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. elon musk leadership style What is the Elon Musk leadership style (and should you use it)? 19 Nicholas A. Christakis, and James H. Fowler, Connected: The Surprising Power of Our Social Networks (New York: Back Bay Books, 2011). The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. 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. (2021). Elon Musk is a terrible public speaker. Im lucky I have all my fingers.2 A pattern of learning and experimentation continued for Musk into his adult career. 35, no. 7 Michael Schrage, Like It or Not, You Are Always Leading by Example. Harvard Business Review. Together with his brother, he founded Zip2 which was an online directory for businesses. The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. Here's how to incorporate them into your own entrepreneurial journey. Leaders are often faced with complex challenges that require critical thinking and effective decision-making. "AI stresses me out," Musk said near the end of a more than three-hour presentation to Tesla investors about company plans. 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. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. His contributions in the fields of aerospace and sustainable energy (among others!) Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. 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. 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. Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. What's the point of doing that? It is influential and powerful. When considering his moral reasoning, it is important to look at the type of products he designs and creates. 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. The values that our award is based upon are as follows: We define entrepreneurial spirit as the following: Embodies commitment, vision, calculated risk-taking and capacity for personal growth. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. They have a strong sense of themselves and what they stand for (Northouse, 2019). 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. The delegation of duties and the . Conclusion. He loves what he's doing because he does what he loves. Musk may have imagined that owning the website would be fun and make him feel powerful. China's birth rate declines for first time in decades. 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. Copyright 20102023, The Conversation US, Inc. 57.5% of more than 17.5 million Twitter users. Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. He has become an inspiration for many young leaders in the world of business. Interesting business experiences from the past. I'll talk about them here. How do we make California transit more convenient? 8 Simon Sinek. And Tesla Motors has remained unprofitable for more than a decade.But thanks to his unwavering belief in the long-term importance of these projects, investors and the general public have remained supportive. Explore the amazing adventurehe wishes to take us all upon. For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's so successful. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. He has used his skills to aid in the design of electric cars and even spaceships. His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. 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 Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. Confidence and independence A new Twitter CEO will want. 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. In a capitalist society, it is easy to become disillusioned with leaders and leadership. Twitter is a resounding practical success. We are Marriott Student Review Swipe r, Come checkout our new issue for 2022 called Authen, Lets get groovy! There are occasions when Musk's employees or those working with him find him hard to work with. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. As of 2020, he lives in Los Angeles, California. The leadership style directly affects Tesla. 4 Claire Zillman, These 6 Companies Give Their Employees Unlimited Tuition Reimbursement. Fortune. 1. He was also a man with a wonderful vision. His first marriage was to Canadian author Justine Wilson in 2000. Having cofounded and sold PayPal, he quickly moved on to launching a range of ventures with world-changing aspirations for how we generate . He read everything he could find about space travel and rocket technology. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. 3 Andrew L. Cooper, Joseph R. Huscroft, Robert E. Overstreet, and Benjamin T. Hazen. 10. https://www.britannica.com/biography/Elon-Musk. Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. Being a perfectionist, he went to his professor and got them to change his score to a 100%. When considering Elon Musk under the lens of authentic leadership, it is clear he has the necessary leadership traits. Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. Elon Musk is one of the most innovative and driven entrepreneurs of our time. It has certainly sped up the flow of information (admittedly, inaccurate information as well as the useful kind). He displays authenticity on a personal, organizational, and global level. His father is South African-born and his mother is Canadian-born, from Regina, Saskatchewan, and also has American antecedents. When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. I dont believe that to be the case with Musk. Musk is not afraid of failure and sees it as an organic part of any creation process. By clicking Sign up, you agree to receive marketing emails from Insider This mindset helps him stay motivated and excited about what is next. https://www.biography.com/business-figure/elon-musk. You may opt-out by. He is also the CEO of Tesla Motors, the SpaceX Corporation, and SolarCity. The primary source of Elon Musk power is his leadership skills. We can also absentmindedly rattle off a stream of adjectives that describe him: innovator, leader, genius, visionary, futurist, entrepreneur. Cant think of someone who would be a great mentor? However, Musk does it in a healthy, constructive way. 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. For better or worse, here are five things weve learned about leadership from Elon Musk. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. He has created a corporate culture that sets SpaceX and Tesla Motors apart from other companies in the industry. So find a smallidea. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. Question and challenge the status quo. Who Will Win? Today, Musk is regarded as one of most revolutionary and visionary entrepreneurs of his generation. He is a true visionary who can see the road to the future. Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future. Yet, while his unique personality and boundless creativity have led to incredible success for his. 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. Tesla balance. 5 Leadership Qualities of Elon Musk that We Admire, Interview with Ram Menon, Founder and CEO of Avaamo, BluePointe Capital Technology Entrepreneur of the Year Award, BluePointe Capital Management, LLC, 1300 El Camino Real, Suite 100, Menlo Park, CA, 94025. 3. He often gets frustrated when employees cannot follow his instructions. Great Resignation Climate Change Leadership Inflation Ukraine Invasion . This kind of thinking makes many companies mediocre. 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. Originally published . They push people out, spiral out of control, or end up underperforming dramatically. 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). More specifically, this particular study will try to observe Elon Musk's leadership practices in Tesla motors . Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. 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. I feel the exact same way. Otherwise, its not.16 For Musk, the only viable option was to hold on firmly to hope. One course of action many successful companies have implemented to create a learning culture is to give financial assistance to its employees to further their education.4 Educational benefits are becoming increasingly important as more millennials enter the workplace. He hires brilliant and talented individuals that can design and develop his products. An authentic leader creates better relationships with colleagues, creates higher levels of trust, increased productivity, and a more positive working environment (Gavin, 2019). Musk has a preternatural ability to see past the current trends and statuses to see what could be. We live in a highly distracting world. A railroad. Musk is a perfect case study for someone whose work ethic is fueled by his passion. Tesla Motors is a maker of electric cars. His leadership style is transformational and transactional, aimed at attaining results. He dreams about stuff that no one else would 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. He may rethink stepping down, or even appoint someone only to sack them. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. as well as other partner offers and accept our. Confidence and independence. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. The truth is, if we are passionate - or find passion - in the work we're doing, work stops feeling like work. Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. 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. In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. What can you do to set the standard in your industry? 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. Since then he has made and sometimes walked back numerous changes to the popular social media platform. Disclaimer: The opinions expressed on this website are those of the writers or the people they quoted and not necessarily those of Leaderonomics. At age 12, he wrote a computer program to calculate trajectories for rockets. Gavin, M. (2019b, December 10). 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. Errol shot and killed . This is arguably the first of two critical life events. Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. 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. All he focused on was the task at hand. Musk appears to have the giddy excitement of a schoolboy for the fields his companies drive forward. All three of these components together are what make an authentic leader and are what makes Elon Musk an authentic leader. Even if it was for 2%. Elon Musk's leadership style is transformational since it focuses on innovation and achieving large scale goals. Elon Musk is most known for founding Tesla, a company that builds electric cars with high demand and high prices, and SpaceX. 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. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). (2021, April 7). How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? 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. Big ideas always come from small thinking. 12 Wall St. And Musk quickly became one of my personal heroes. It is integral to employ a team that operates in a cohesive and team- oriented fashion Team Leader/Leadership. Even though he had complete control of his company, he gave his employees the motivation to accomplish their targets and tasks through his characteristics. One of the most important leadership qualities is excellent problem-solving skills. Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. Related: When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? . 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. There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. 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. Tesla CEO Elon Musk, who's originally from South Africa, has perfected the art of remaining focused. Although former employees sometimes describe him as autocratic and blunt to the point of offensive, they remain remarkably loyal.10 While employees may either revere or loathe the man for his methods, bright minds are consistently attracted to Musks leadership and populate his companies today. Relies on trusted individuals while showing ability to be an independent thinker and take risks in the face of uncertainty. 2.1.3.1 Visionary Leadership Elon Musk is an example of the visionary leader. He holds South . 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). . 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. 2. In 1989, Musk moved to Canada and began undergraduate studies at Queens University in Ontario. Be obsessed and obsessive. Opinions expressed are those of the author. That is why our content will always be free, and we would be forever grateful to those who help make that possible. Here is how we would define a leader with a passion for innovation. 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. Do you have a strong belief in it? Elon Musk is famously a workaholic - he boasts of working 120-hour weeks to keep production of the Tesla Model 3 on track - but since we met he seems to have been enjoying himself. How can you and your organization make a positive difference in the world? He has had many failures in the course of his career, ranging from mechanical failures in his Tesla brand to rockets crashing. The ability to face facts. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. Some of Musk's characteristics are by chance--like being. But can we describe why Musk is the way he is? You must really like us. 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. 2. He understands the many challenges but is not afraid to take them on. He is the son of Maye Musk (Haldeman), a model and dietitian, and Errol Musk, an engineer. 8th Edition. 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. 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