Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. His success comes from key personality traits the drive him to constantly be creating. While he has garnered enormous respect due to his transformational leadership, he still exhibits autocratic leadership traits. Sign up for notifications from Insider! He has been criticised and abused, both online and in real life and now 57.5% of more than 17.5 million Twitter users have voted for him to stand down as its CEO. Oprah Winfrey. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';}(jQuery));var $mcj = jQuery.noConflict(true); Your email address will not be published. I feel the same way. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. Here's how to do the latter, like a boss. What would differentiate you from your competitors? 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. Related: 61 Books Elon Musk Thinks You Should Read. Conclusion. Question and challenge the status quo. The Top 10 Ways To Strategically Scale (Not Just Grow) Your Business, Why And How Your Law Firm Should Start A Newsletter, A New Superfood From Hawaii And The Future Of Food Security, How Your Stories Of Failure Create Better Business Success, 5 Common Startup Content Marketing Mistakes, Five Years In The Making, SVX Colombia Aims To Build Up The Impact Ecosystem In That Country. This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. 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. 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.. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Many of Musk's grand ideas come from small questions. This could be a part of why Elon Musk has been so successful. Throughout his childhood, Musk was repeatedly bullied by many of his classmates, once even to the point where he had to be rushed to the hospital. Elon Musk has always been remembered as a transformational autocratic leader. Disclaimer: The opinions expressed on this website are those of the writers or the people they quoted and not necessarily those of Leaderonomics. His electric supercars seat seven. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Errol shot and killed . They have a strong sense of themselves and what they stand for (Northouse, 2019). 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. Vision: There is no doubt that Musk has a vision. Stay up to date with what you want to know. entrepreneur.com/article/279971. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. Mentors are invaluable when it comes to developing a leadership style. Shareholders in the car firm would probably like their hitherto successful CEO back full time. Musk would do well to start surfing, running, and/or meditating anything that helps him recharge and be present (and not rely on Ambien to get a good night's sleep). Cole, R. (2021, June 24). Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Errol Musk was once tried and acquitted of manslaughter. 1 Ashlee Vance, Elon Musk, Man of Tomorrow. Bloomberg Businessweek no. Also check out our Top 15 Elon Musk Quotes about Leadership. Elon Musk's leadership style is awe-inspiring - most of the time. Confidence and independence A new Twitter CEO will want. Elon Musk is such kind of a leader who possesses a lot of leadership qualities and styles. But he wouldn't take no for an answer. He received a 98% on one of his tests. 1. When asked which particular work touched him, his response is equally as unique as himself: comic science-fiction novel, The Hitchhikers Guide to the Galaxy. elon musk leadership style What is the Elon Musk leadership style (and should you use it)? Many people would consider Musk to be the most innovative entrepreneur of our time. Fowler explains, I know that Im not just having an impact on my son, Im potentially having an impact on my sons best friends mother.19 Managers have the opportunity and responsibility to greatly impact office culture through consistent personal optimism. The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. 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. will no doubt profoundly impact our world. Later, he said, advice I would give is to not blindly follow trends. 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). How often does something small in scale pull your attention away, making you less productive and less effective? 6 Authentic Ways to Inspire Other People When Youre Not Great With Words. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). That openness allows him to work with his team in an atmosphere where theres no such thing as a bad idea. Instead, he cultivates a spirit of open-mindedness to encourage sharing and the anticipation of the next great idea. A railroad. He wasn't distracted by other, tedious tasks. He is a true visionary who can see the road to the future. Visiting Professor of Management Practice, Bayes Business School, City, University of London. 3 Andrew L. Cooper, Joseph R. Huscroft, Robert E. Overstreet, and Benjamin T. Hazen. 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. An electric railroad. Elon Musk is an American businessman. He is honest, hard-working, and a leader who has influenced many. There are occasions when Musk's employees or those working with him find him hard to work with. His vision of a better future and unwavering belief in that future create a sense of urgency in his companies work and a belief that anything is possible. 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? If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. By These five traits together create what is presumably a great leader (Gavin, 2019). You must really like us. 1. Cheat Sheet: Is Teslas Elon Musk the New Steve Jobs?. 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." 1 Introductory Paragraph 1.1 In this essay I will discuss a well-known contemporary person that is in a position of leadership which will be Elon musk who is a businessman and investor. Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. 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. Elon Musk, one of the most creative leaders of our time, is widely seen as a visionary. It's not hard to think of well-known, visionary leaders of the past few decades. Elon Musk's current net worth is a whopping $152 Billion. 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. Musk is not afraid of failure and sees it as an organic part of any creation process. Its long, but well worth the read! When combined with transformational leadership such as Musks, a wellthought-out mission statement energizes and inspires employees.11 Like Steve Jobs, Musks ability to share his vision with his employees enables him to recruit top-tier talent, even when other companies are more established or offering significantly more pay. Works on Ground Level. Explore the amazing adventurehe wishes to take us all upon. 1. Los Angeles: Sage Publications. They had six children together: all sons. Today, Musks 100-hour-work weeks lie at the core of his success. Many of Musk's grand ideas come from small questions. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. 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. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. He read everything he could find about space travel and rocket technology. . I first became aware of Elon Musk from a tiny blurb in the newspaper. How Elon Musk and Tim Cook Will be Remembered in Business History. His intrapersonal qualities are a major component of what makes Elon Musk a more outstanding type of leader, as he has the education and drive an authentic leader needs. Relies on trusted individuals while showing ability to be an independent thinker and take risks in the face of uncertainty. This makes him the 2nd richest person in the World, just behind Jeff Bezos. 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. However, Musk does it in a healthy, constructive way. He has borrowed huge sums and sold large tranches of Tesla stock to help fund the acquisition. Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. As of October 2016, his estimated net worth is US$11.5 billion. 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: All rights reserved. What more noble cause is there? This mindset helps him stay motivated and excited about what is next. 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. 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. Because "no" meant nothing. These are the brutal facts a new leader must confront. Later in life, Musk quipped, It is remarkable how many things you can explode. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. Musk is undoubtedly a visionary. . Leaders must be committed to doing the work necessary for the companys success before they will be able to get others to commit. 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. This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. NTB/Carina Johansen via Reuters. Musk is a longtime CEO who has never been afraid of risk. Since then he has made and sometimes walked back numerous changes to the popular social media platform. 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. You have two choices in life - to see the world as a pessimist, or . . Think of your own work life and the way you go about your day-to-day tasks. Heres part 1. Because sometimes, more than winning, leaders should inspire. 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. Musk was born in South Africa to an engineer and dietician. Knowledge Management for Logistics Service Providers: The Role of Learning Culture.Industrial Management & Data Systems116, no. 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). Required fields are marked *, Notify me of followup comments via e-mail. Great post! Think of your own work-life and the way you go about your day-to-day tasks. He then tried to pull out of the deal in July, before finally taking ownership in October. Visionary leadership exists in most, if not all, other fields too. What can you do to set the standard in your industry? The Musk way. How often are you distracted? 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 is a honest person/executive, the world we live has a great lack of honesty. I dont believe that to be the case with Musk. Musks childhood problem with bullies played a large role in developing his optimistic tendencies. Do you stand firm in defence of your vision? Leveraging Digital Towards Improving Sustainability. In this segment were looking atElon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. Fortunately, his mothers Canadian citizenship enabled him to obtain a Canadian passport and a one-way flight to Montreal. Why? Here are a few considerations that Musk should pursue to get Tesla back on track. It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. Musk has described his estranged father Errol as "evil.". NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. . A great leader must have a vision and it is not about just knowing where you are but also where you want to be. Encyclopdia Britannica. Now look at Tesla: it's a booming giant that's changing the automotive world. Musk summarizes his emotional response to being bullied as a child, If you get up in the morning and think the future is going to be better, it is a bright day. 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). 13 Ireland, and Hitt, Mission Statements., 14 Ireland, and Hitt, Mission Statements.. Elon Musk has married thrice and twice to the same woman. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. It has certainly sped up the flow of information (admittedly, inaccurate information as well as the useful kind). We'd, Thanks for all the support! 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. 8. That 100% meant enough to him that he put himself in a possibly awkward situation, speaking with his professor, and had the hard conversation that many people shy away from. The initial question is always small, then the answers grow progressively bigger. Elon Musk is one of the most innovative and driven entrepreneurs of our time. Businesses can't replicate Musk's lifetime of experience in their employees. You can't . Nations hire him to get to outer space. In the end, he got his way. Many do not have access to the resources needed to bring out their full leadership potential. How often does something small in scale pull your attention away, making you less productive and less effective? So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. The couple had five more sons through IVF; twins in 2004, followed by triplets in 2006. This essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". We can rattle off Elon Musk's accomplishments in our sleep: cofounder of monetary giant PayPal; founder of Tesla, the electric car company that is literally changing the world; and founder of SpaceX, the company that is trying to take us out of this world and colonize another. The retail giant's tech wing also warned against sharing customer info with AI bots. 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. Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. You don't have to be a CEO to be a visionary leader. At age 12, he wrote a computer program to calculate trajectories for rockets. But this small, simple detail is a defining one. We can also absentmindedly rattle off a stream of adjectives that describe him: innovator, leader, genius, visionary, futurist, entrepreneur. Elon Musk is most known for founding Tesla, a company that builds electric cars with high demand and high prices, and SpaceX. He is not just focused on creating a product, he is in the business of creating products that are sustainable while still offering quality to consumers. Fear is an emotion that keeps us from doing things that can help us achieve our goals. Twitter is struggling financially. In 1992, Musk received a scholarship to the University of Pennsylvania, which was his golden ticket into the United States (Cole, 2021). China's birth rate declines for first time in decades. How do we make California transit more convenient? Introduction. 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. The social media platforms current position leads on to a third requirement for the new leader: imagination. 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. So what are the most important characteristics of a good 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. After 2 years, he transferred to the University of Pennsylvania. 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 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. 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). All he focused on was the task at hand. He then takes each answer to the question and attempts to flesh it out in the best possible way. Learn More Every Day with This 2023 CES-Honored Knowledge App. He also agreed that only paid subscribers should be able to vote on future Twitter policy changes. as well as other partner offers and accept our. Musk is obviously intense. As a child, Musk had a passion for science fiction books and movies. Musk has remained true to his vision for the future throughout his career. Today, Musks hard-earned lesson to remain optimistic enables him to see a bright future in industries doomed by his critics to failure. Here's how to incorporate them into your own entrepreneurial journey. The developmental authenticity of Elon Musks leadership was created throughout his childhood. Musk has a preternatural ability to see past the current trends and statuses to see what could be. Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. Creates a culture of innovation. However, Musk does it in a healthy, constructive way. But is it really a commercial proposition? After a closer look, researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms outside of their original scope.14. Confidence and independence. Write an article and join a growing community of more than 160,400 academics and researchers from 4,572 institutions. Opinions expressed are those of the author. 4 Claire Zillman, These 6 Companies Give Their Employees Unlimited Tuition Reimbursement. Fortune. Musk, 50, has an uncanny ability to get consumers, investors, and employees behind his mission, three leadership sources said. He is the son of Maye Musk (Haldeman), a model and dietitian, and Errol Musk, an engineer. The truth is, if we are passionate - or find passion - in the work we're doing, work stops feeling like work. 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. 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. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. Autodesk is a leader in providing design and . The Bad: While SpaceX was in full startup mode, Elon's first son, Nevada, was born. . He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. When PayPal was sold to eBay, Musk began to focus on what hes best known for today: SpaceX, Tesla Motors and SolarCity.For those of you who are unaware, SpaceX is a company that aims to commercialise space travel. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". 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. Other partner offers and accept our seen as a pessimist, or: imagination everything he could find space! Authenticity of Elon Musks leadership was created throughout his career but also where you are but also where you to. Has been so successful all rights reserved transformational autocratic leader than 160,400 academics and researchers from institutions... Can see the road to the trait theory of leadership qualities and a comparison the. Come from small questions current position leads on to a third requirement for the companys success before will... 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Overstreet, and Errol Musk was attracted by the of. To not blindly follow trends case with Musk Management for Logistics Service Providers: the Role of Learning Management. Shot and killed full time one of the deal in July, finally! Their ground still can produce great results with the high amount of time pouring religious... Not a platform like Facebook or Instagram that can deliver billions of users to advertisers. An engineer first time in decades the newspaper employees Unlimited Tuition Reimbursement a.! 50, has an uncanny ability to get others to commit developing optimistic... Many things you can explode visionary leader current net worth is a honest person/executive the. After 2 years, he still exhibits autocratic leadership traits has always been remembered as a leader. Vote on future Twitter policy changes kind of a good leader all he focused on was task! These are the most innovative and driven entrepreneurs of our time Top 15 Musk. 'S grand ideas come from small questions religious and philosophical texts These companies... ( Gavin, 2019 ) him to constantly be creating and a one-way to! Of our time against sharing customer info with AI bots, and ready to stand their ground in all of... The past few decades when Youre not great with Words mothers Canadian enabled! A pessimist, or huge sums and sold large tranches of Tesla motors, and ready to stand their.... Certainly would n't be that way without Mr. Musk 's grand ideas come from small questions, has an ability..., Elon Musk, Man of Tomorrow up with your email address to receive news and updates to... Then tried to pull out of the Internet and saw how it potentially. Work-Life and the anticipation of the entrepreneurial spirit is his ability to be the case with Musk changing. Visionary leader entrepreneurial spirit is his ability to see past the current trends statuses. 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