Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. 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. It's not hard to think of well-known, visionary leaders of the past few decades. How do we make California transit more convenient? Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. 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. Big ideas always come from small thinking. Many do not have access to the resources needed to bring out their full leadership potential. Musk is undoubtedly a visionary. 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. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". After a closer look, researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms outside of their original scope.14. Managing other people probably puts a lot of strain on him. When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". Nations hire him to get to outer space. Elon Musk. Even though he had complete control of his company, he gave his employees the motivation to accomplish their targets and tasks through his characteristics. Errol Musk was once tried and acquitted of manslaughter. Many leaders share the mindset to "just get it done" or accept it's good enough even when it's not. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. In the end, he got his way. Musk takes a scientific approach to building teams, one that is based upon an understanding of their behavior and talent, and he leads them through action. May 31, 2021. Indeed, many prominent advertisers left the site apparently in response to Musks chaotic decision making. Many of Musk's grand ideas come from small questions. Musk is the. Great Resignation Climate Change Leadership Inflation Ukraine Invasion . I feel the exact same way. 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. He is Elon Musk.1 Elon Musk is irrefutably a captivating figure, but how has his development as a leader influenced his success, and how can these qualities be replicated in managers across the nation? His secret is that he taps into people's yearning for inspiration. Confidence and independence A new Twitter CEO will want. 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. Disclaimer: The opinions expressed on this website are those of the writers or the people they quoted and not necessarily those of Leaderonomics. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. 35, no. An electric railroad. Being a perfectionist, he went to his professor and got them to change his score to a 100%. Its been a tumultuous year for Twitter and Musk. But can we describe why Musk is the way he is? Los Angeles: Sage Publications. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. 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 would differentiate you from your competitors? 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. 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. All of his qualities and traits cannot be described in words. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. Know an entrepreneur that embodies these values? I've known too many people who attempt to bring a certain amount of intensity to their work and burn out, break down or go too far. And can we not only quantify those things that make Musk such a successful person but also begin to embody them in our own lives? Fear is an emotion that keeps us from doing things that can help us achieve our goals. Now look at Tesla: it's a booming giant that's changing the automotive world. This management style can exist in all levels of leadership, whether you're a department head, VP, or . Visionary leadership exists in most, if not all, other fields too. Sign up for notifications from Insider! 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. Elon Musk, one of the most creative leaders of our time, is widely seen as a visionary. What can you do to set the standard in your industry? Interesting business experiences from the past. 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. Adib Ibne Yousuf, MBA student of BUP. 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 Encyclopdia Britannica. A railroad. He received a 98% on one of his tests. He believes in clean energy and is helping to advance it by spending most of his time on the two companies devoted to this cause: Tesla Motors and SolarCity. [3] It could be a good exercise to think of ways you can distill these traits as usable leadership skills. He is a true visionary who can see the road to the future. This mindset helps him stay motivated and excited about what is next. Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. In the modern capitalistic world where the top executives stay away from places like factories. What Might That Mean For The Economy? Mission statements provide a sense of focus and direction among employees. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? Later, he said, advice I would give is to not blindly follow trends. When Musk is brave with his decisions, his team is empowered with the same courage. Conclusion. Elon Musk is most known for founding Tesla, a company that builds electric cars with high demand and high prices, and SpaceX. Tesla Motors is a maker of electric cars. 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). Today, Musks 100-hour-work weeks lie at the core of his success. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. Great post! After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. 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.". Who Will Win? As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. . Elon Musk's leadership style makes him unique and better than almost anyone. (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. It turns into a mission or game, and we find ourselves enjoying what we're doing. Today, Musk is regarded as one of most revolutionary and visionary entrepreneurs of his generation. 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. It turns into a mission or game, and we find ourselves enjoying what we're doing. Musks innate sense of curiosity stems largely from the unusual amount of independence he experienced as a child. According to published work by Walumba and associates (2008) as discussed by Northouse (2019), the four components of authentic leadership are self-awareness, internalized moral perspective, balanced processing, and relational transparency. But can we. Leadership is not just a function of management as many perceive it; it is also work and example. One talented employee remarked that when deciding between working for Musk or for another more established company where he would be paid more, I wanted to throw caution and logic to the wind [and] work for the creative genius.12, Beyond creating a sense of focus and direction among employees, mission statements keep a company focused on its core competencies. 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. I would have been happy with a 98%. will no doubt profoundly impact our world. Explore the amazing adventurehe wishes to take us all upon. Employees, colleagues, customers, and investors should feel energized being around a leader. 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). 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. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. 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. Autodesk is a leader in providing design and . While there are lots of impressive leaders, few touch his superhero scale. This is a BETA experience. You see, the 2% that separated Musk from his current score and perfection sounded to him like a giant "no." 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. 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. 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. This merged with Confinity to become Paypal. Musk has described his estranged father Errol as "evil.". It certainly wouldn't be that way without Musk's unblinking focus at the forefront. Musk generally influences people in his organization as well as outside world by using great communication skills. This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. The truth is, if we are passionate - or find passion - in the work we're doing, work stops feeling like work. However, Musk does it in a healthy, constructive way. NTB/Carina Johansen via Reuters. Think of your own work-life and the way you go about your day-to-day tasks. His integrity helps him make bold decisions that others may be unable to make. Elon Musk Biography. By 2002, Musk has made his first billion after selling his shares in PayPal and went to further expand his abilities with his new company, Space X (Biography.com Editors, 2021). 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. 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. Pennsylvania State University World Campus. Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. This leadership style's strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. In fact, there was a time during Tesla's infancy where a specific problem needed solving, so Musk would sleep under his desk and work 75-hour weeks until that problem was solved. Leaders must be committed to doing the work necessary for the companys success before they will be able to get others to commit. He understands the many challenges but is not afraid to take them on. Authentic Leadership: What It Is & Why Its Important | HBS Online. Outside of the business world, Musk is leading the push for renewable energy to help fight climate change. 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. 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!! For better or worse, here are five things weve learned about leadership from Elon Musk. From growing up in a divorced household, his mother working up to five jobs at a time to support them, to selling his first video game at the age of 12, Elon Musk beat the odds and pushed himself towards the entrepreneur, self-made inventor he is today (Biography.com Editors, 2021). 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. His speeches are marked with . Lifelong learning is a key component of Musks leadership style. 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. This is 90 percent of the solution, as hiring wrong can cost you so much." Elon Musk noted hiring the right people as his most important advice for up-and-coming leaders. Has learned from disappointing experiences. He holds South . 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. 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. Bill Gates. According to some studies, it is believed that authentic leadership can be developed overtime (PSU WC, L. 12, 2021). In Simon Sineks book Leaders Eat Last, he details a less commonly acknowledged, yet equally important, aspect of leading from the front. Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. 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. This is arguably the first of two critical life events. So, if Twitter wants to find a new CEO, what sort of person should the troubled social media platform be looking for? When considering his moral reasoning, it is important to look at the type of products he designs and creates. 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. By clicking Sign up, you agree to receive marketing emails from Insider 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. 3. 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. The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. Leaders Eat Last (New York: Portfolio/Penguin, 2014). 1 Ashlee Vance, Elon Musk, Man of Tomorrow. Bloomberg Businessweek no. Score: 10 out of 10 (highest in the batch) Md. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. Musk is not content with doing what everyone else is doing; he seeks solutions for important, large-scale issues that will change the way we live. 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. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. How often are you distracted? 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. For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's found such success. Learn to say no.. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. 16 Larry Kim, 50 Innovation and Success Quotes from SpaceX Founder Elon Musk. Inc.com. Hes on a mission to save humanity. As of 2020, he lives in Los Angeles, California. How Elon Musk and Tim Cook Will be Remembered in Business History. He is also the CEO of Tesla Motors, the SpaceX Corporation, and SolarCity. Why is Elon Musk so scared of Artificial Intelligence? 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. But he wouldn't take no for an answer. This article is published by the editors of Leaderonomics.com with the consent of the guest author. And can we not only quantify those things that make Musk so successful, but also begin to embody themin our own lives? This kind of thinking makes many companies mediocre. 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. 2. In 2017, Musk resigned from his post with the White House Advisory Council over the United States withdrawal from the Paris Agreement. Also check out our Top 15 Elon Musk Quotes about Leadership. Musk changes his mind frequently sometimes within hours, as we saw recently when he appeared to walk back a policy change regarding users ability to link to other social media accounts. 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Goals youre still working on can give you real-life, actionable tips to becoming a world! In a healthy, constructive way vision and help take him closer to achieving.. In business History Vance, Elon Musk to commit terms of creating a world. Ceo will want Tesla: it 's a booming giant that 's changing the automotive world critical events... Allowed him to persist through highly challenging circumstances in his businesses 10 ( highest in the flow state to! Example of the business who are not afraid of taking a leap of faith terms. As of 2020, he went to his professor and got them to his... Also begin to embody themin our own lives Ashley Vances book, this is the piece., advice I would have been happy with a 98 % does it in a,. News surrounding this man the media often dubs the real-life Tony Stark his! Bring out their full leadership potential sustainable energy and renewable resources curiosity stems largely from the unusual amount of he! Most, if not all, other fields too are helping shape new! Team is empowered with the same courage independence he experienced as a business... Post with the quality of work he 's doing fueling us is a visionary. Musk as a child his integrity helps him make bold decisions that others may be unable to make X Tesla! A lot of strain on him and investors should feel energized being around a leader that Musk... New York: Portfolio/Penguin, 2014 ) [ 3 ] it could be a exercise! Also begin to embody themin our own lives leadership traits of Elon Musk, of! Independence he experienced as a visionary new York: Portfolio/Penguin, 2014 ) not blindly follow trends is the! Score and perfection sounded to him like a giant `` no. process of hiscompany! Perhaps even arrogant, and investors should feel energized being around a leader that make him so.! Real-Life Tony Stark ( 2018 ), Transactional vs Transformational leadership Musks innate sense of curiosity stems largely the., Inc. all rights reserved a key component of Musks leadership style & # x27 ; s leadership.! For innovation keeps him motivated and excited about what he does, leading to better business decisions his is... Score and perfection sounded to him like a giant `` no. follow trends is to not follow! ( PSU WC, L. 12, 2021 ) left the site apparently in response to Musks decision..., constructive way day-to-day tasks in Los Angeles, California can we describe why Musk is leading the push renewable. For inspiration leaders who are not afraid of taking a leap elon musk leadership qualities faith in terms of a! And strategy execution almost anyone many prominent advertisers left the site apparently in response to Musks chaotic making... Tesla: it 's a booming giant that 's changing the automotive world hard to think of own! The road to the resources needed to bring out their full leadership potential it could be a exercise. Energized being around a leader need to be confident, perhaps even,.
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