The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. Musk is obviously intense. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. Elon Musk has revealed the personal price he has had to pay to keep his business dreams alive. 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. 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. 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. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. 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. I've known too many people who attempt to bring a certain amount of intensity to their work and burnout, break down, or go too far. This makes him the 2nd richest person in the World, just behind Jeff Bezos. Musk may have imagined that owning the website would be fun and make him feel powerful. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. will no doubt profoundly impact our world. Copyright 20102023, The Conversation US, Inc. 57.5% of more than 17.5 million Twitter users. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. Employees, colleagues, customers, and investors should feel energized being around a leader. Do you stand firm in defence of your vision? Biography.com Editors. It turns into a mission or game, and we find ourselves enjoying what we're doing. He is a true visionary who can see the road to the future. 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. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. Companies looking to gain a competitive edge should invest in their human capital by creating an office culture conducive to developing quality managers. 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. "What do you do when youre on your lunch break? April 21, 2017. accessed November 23, 2017. https://hbr.org/2016/10/like-it-or-notyou-are-always-leading-by-example?referral=03758&cm_vc=rr_item_page.top_right. Lets continue to gr, Professor Tyler Shumway joined us on our new episo, Come get to know the MSR Team and learn about what, Want to avoid becoming part of the 1.1 TRILLION do, Hello! As of October 2016, his estimated net worth is US$11.5 billion. Elon Musk's leadership style makes him unique and better than almost anyone. Many people would consider Musk to be the most innovative entrepreneur of our time. Score: 10 out of 10 (highest in the batch) Md. 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. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. Heres part 1. Visiting Professor of Management Practice, Bayes Business School, City, University of London. But this small, simple detail is a defining one. References Cole, R. (2021, June 24). You have two choices in life - to see the world as a pessimist, or . He's quite possibly a genius. 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? The way Elon Musk leads his various companies takes the old adage of shooting for the moon so that even if you miss, youll end up among the stars, from sage wisdom to literal direction. 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. This merged with Confinity to become Paypal. 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. In consideration of the leadership skills of Jobs and Musk, I see four overlapping things. Demonstrates entrepreneurial maturity by building strategic alliances and surrounding him/herself with talented peopleindividuals, teams, the Board, and a range of advisers/allies to ensure success for all. As a child, Musk had a passion for science fiction books and movies. Even if it was for 2%. Stay up to date with what you want to know. Conclusion. 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 initial question is always small, then the answers grow progressively bigger. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's so successful. Elon Musk is a billionaire and inventor who has reshaped the business world with his work in PayPal, Tesla, SpaceX, and SolarCity. Creates and turns vision into business realities. One of the most important leadership qualities is excellent problem-solving skills. After 2 years, he transferred to the University of Pennsylvania. As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. He really gives his all to what he does.This certainly cant be easy considering the failures his companies have faced. When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? Many leaders share the mindset to "just get it done" or accept it's good enough even when it's not. The retail giant's tech wing also warned against sharing customer info with AI bots. Let your vision guide you When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. 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 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. In 2017, Musk resigned from his post with the White House Advisory Council over the United States withdrawal from the Paris Agreement. This essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. 7 Michael Schrage, Like It or Not, You Are Always Leading by Example. Harvard Business Review. It turns into a mission or game, and we find ourselves enjoying what we're doing. His solar company is cash-flow positive. From an early age, Elon Musk learned not to be afraid of hard work. elon musk leadership style What is the Elon Musk leadership style (and should you use it)? Musk has never been afraid to make bold decisions, even when it would have been easier for him to do nothing or settle for good enough. 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. In 1992, Musk received a scholarship to the University of Pennsylvania, which was his golden ticket into the United States (Cole, 2021). What skill does he have that we can implement in our own leadership style? It also motivates him to start new companies, even if they initially need to work out. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Why Data Privacy Is Still Important for You, Where Accounting Meets Crimefighting: A more exciting career option for accounting students. 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: August 10, 2016. accessed November 23, 2017. https://www. Explore the amazing adventurehe wishes to take us all upon. In fact, each of thefour traits we've described above are only cultivated by those who have a certain amount of intensity. Biography.com. Being a perfectionist, he went to his professor and got them to change his score to a 100%. (2021). Northouse, P. G. (2018). SpaceX almost went bankrupt. He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). Confidence and independence A new Twitter CEO will want. From time to time, take the time to reflect on your own performance as a leader. Learn More Every Day with This 2023 CES-Honored Knowledge App. He sees problems as opportunities and that is what has led him to his success. 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. But is it really a commercial proposition? He often gets frustrated when employees cannot follow his instructions. Sign up for notifications from Insider! https://online.hbs.edu/blog/post/authentic-leadership, Copyright 2023 The Pennsylvania State University, https://www.biography.com/business-figure/elon-musk, https://psu.instructure.com/courses/2137573/modules/items/32271438, https://online.hbs.edu/blog/post/authentic-leadership, A Leaders Self-Defeating Behaviors Effect on the Organization, Leaders Need to Be in Harmony With Their Followers, Nurse Leaders: The Importance of Nurses Motivating Nurses. Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. 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. The initial question is always small, then the answers grow progressively bigger. Later, he said, advice I would give is to not blindly follow trends. But he wouldn't take no for an answer. 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. These are the brutal facts a new leader must confront. Leading From Front. By age 14, he was designing rockets with paper and pencil. Many of Musk's grand ideas come from small questions. When considering his moral reasoning, it is important to look at the type of products he designs and creates. As he has made, sold and ran a bevy of successful companies, its clear that he utilizes a very specific type of leadership to keep the train of innovation chugging. This flow state is only achieved when the person can perform undistracted by other, less significant tasks. Leveraging Digital Towards Improving Sustainability. When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. How often are you distracted? Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. entrepreneur.com/article/279971. He didn't think about anything else. Top editors give you the stories you want delivered right to your inbox each weekday. Since youre here, wed like to ask you to consider donating to the maintenance and upkeep of our site, which as it turns out is pretty expensive. There's an anecdote Musk's first wife tells of him back in college. Superheroes emulate him. 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. It's not hard to think of well-known, visionary leaders of the past few decades. Related: When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. 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. And can we not only quantify those things that make Musk so successful, but also begin to embody themin our own lives? 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. Demonstrates perseverance in the face of adversity and to overcoming obstacles. This might be a little bit more difficult to do, but I think it's possible. Elon Musk is such kind of a leader who possesses a lot of leadership qualities and styles. Adib Ibne Yousuf, MBA student of BUP. His next venture was X.com, an online banking service he started in 1999. In a capitalist society, it is easy to become disillusioned with leaders and leadership. 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. It certainly wouldn't be that way without Musk's unblinking focus at the forefront. . The Musk way. He attended private schools and had a tough time as he was severely bullied by his peers. This is a BETA experience. He is the son of Maye Musk (Haldeman), a model and dietitian, and Errol Musk, an engineer. 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. May 31, 2021. Finally I will identify two other leadership theories that best represent . Tesla CEO Elon Musk, who's originally from South Africa, has perfected the art of remaining focused. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). Furthermore, Losada discovered that although teams just above the Losada Line arent hindered by negativity, teams that manage to reach a ratio of six-to-one positiveto-negative comments yield peak levels of performance.18. On Teslas blog, Musk gave his rebuttal to the public, For consumers concerned about fire risk, there should be absolutely zero doubt that it is safer to power a car with a battery than a large tank of highly flammable liquid.15 Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times, Stayed True to His Triple 'Win' Strategy to Build a $1 Billion Business, the 10 Most Difficult Conversations to Have in the Workplace. However you feel about Elon Musk, some things are irrefutable: Hes extremely successful, is endlessly innovative and acts as a case study for creative leadership. 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