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). He possesses illustrious leadership qualities, skills, and styles, some of which are being discussed here. Musk has remained true to his vision for the future throughout his career. Musk once said, If something is important enough, even if the odds are against you, you should still do it. . His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. 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. That 100% meant enough to him that he put himself in a possibly awkward situation, speaking with his professor, and having the hard conversation that many people shy away from. (2021, April 7). When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). 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). (2021). Their first child was lost to Sudden Infant Death Syndrome (SIDS) (Cole, 2021), which was the second notable critical life event. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. This mightbe a little bit more difficult to do, but I think it's possible. City, University of London provides funding as a founding partner of The Conversation UK. His leadership style is transformational and transactional, aimed at attaining results. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". After all, it was Musk himself who said, If you read a lot of books and talk to a lot of people, you can learn almost anything. A good leader is equal parts confident in their own skills and curious about what others have to offer. The couple had five more sons through IVF; twins in 2004, followed by triplets in 2006. This event makes him a charismatic leader. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. Here is how we would define a leader with a passion for innovation. Cheat Sheet: Is Teslas Elon Musk the New Steve Jobs?. The leadership style directly affects Tesla. ChatGPT vs. Bard: A Modern Day David and Goliath Story. Because managers generally interact with a large number of employees, they have a tremendous opportunity to influence office culture. 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. 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. ), Musk has been working to solve these growing problems for more than a decade.To paraphrase an amusing analogy I recently came across: While most industry leaders have been playing checkers, Musk has been playing StarCraft.But more than having a vision, leaders should clearly communicate that vision to their followers. Elon Musk does not have those qualities. It could have global impact. Cant think of someone who would be a great mentor? I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. Elon Musk Leadership Assembles the Right Team. Learn to say no.. This kind of thinking makes many companies mediocre. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. I feel the exact same way. How often does something small in scale pull your attention away, making you less productive and less effective? How often are you distracted? 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. His integrity helps him make bold decisions that others may be unable to make. But he wouldn't take no for an answer. Leading From Front. Musk was born in Pretoria, South Africa, where he lived until he moved to Canada at age 17. By Andrew Fayad, CEO of ELM Learning, a creative agency focused on designing custom multimedia and digital learning experiences. accessed November 11, 2017. https://www.inc.com/larry-kim/50-innovation-amp;-successquotes-from-spacex-founder-elon-musk.html. He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). You see, the 2% that separated Muskfrom his current score and perfection sounded to him like a giant "no." (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. Today, Musks 100-hour-work weeks lie at the core of his success. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. Watch this TED Talk interview with Elon Musk: Wait But Why did anamazingseries on Elon Musk. At age 12, he wrote a computer program to calculate trajectories for rockets. He was also a man with a wonderful vision. Randy Garn 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. 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. Be obsessed and obsessive. 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. He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. He also agreed that only paid subscribers should be able to vote on future Twitter policy changes. 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. Even if it was for 2%. All he focused on was the task at hand. For leadership profiles of other famous business leaders, including Steve Jobs, Oprah Winfrey, and Warren Buffett, check out our Business Leadership Profiles section. Top editors give you the stories you want delivered right to your inbox each weekday. https://www.biography.com/business-figure/elon-musk. While the post was prestigious and offered the benefits of extreme power at the highest level, recognizing that the job no longer aligned with Musks mission for sustainability and care for the environment meant that it was diametrically opposed to his objectives. Chairman, Solar City. 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. 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. 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. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. Elon Musk was born on June 28th, 1971 in South Africa, where he grew up with his father after his parents divorced in 1980. 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. This is a BETA experience. He has used his skills to aid in the design of electric cars and even spaceships. Let your vision guide you What is your vision? Elon Musk is such kind of a leader who possesses a lot of leadership qualities and styles. 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. Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. Unwilling to support apartheid through military service, Musk moved from South Africa to the United States (Cole, 2021). He then tried to pull out of the deal in July, before finally taking ownership in October. 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! Adib Ibne Yousuf Follow The retail giant's tech wing also warned against sharing customer info with AI bots. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. Musk is not afraid of failure and sees it as an organic part of any creation process. Elon Musk has clashed often with securities regulators and highway safety authorities, but there's one area the Tesla and Twitter chief says the government should regulate now: artificial intelligence. Nations hire him to get to outer space. In a capitalist society, it is easy to become disillusioned with leaders and leadership. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. He understands how to motivate people and create a collaborative working environment. 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. 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. How many opportunities are lost because of our fear of asking? Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. He also had a hand in conceptualizing and financing SolarCity, which is now the second largest solar power systems provider in the United States. Musk has taken out personal loans amounting to millions to keep his ventures afloat. The billionaire talked about his early days in Dallas when he was strapped for cash. The Musk way. Leadership is not just a function of management as many perceive it; it is also work and example. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. As a child, Musk became interested in computer programming and taught himself to code. Now She Partners With Target and Uses Her Platform to Combat Medical Racism in the U.S. You Need to Ask Yourself This One Key Question, Mark Cuban's Grocery Store Hack Will Help You Score Cheaper Produce, 5 Types of Toxic Employees and How to Deal With Them (Infographic), Walmart Leaked Memo Warns Against Employees Sharing Corporate Information With ChatGPT, 5 Harvey Specter Quotes to Inspire Your Inner Baller. 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). Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. 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. While there are lots of impressive leaders, few touch his superhero scale. 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). He received a 98% on one of his tests. SpaceXs experimental rockets frequently make the news for launch failures. As a leader, having a vision and communicating it to your team can make a big difference in the success of your organization. In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. Musk is the. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. And Elon Musk had purchased this fantastical prop with the serious intention of actually making it work as depicted in the film.I was thrilled. Some of Musk's characteristics are by chance--like being. References 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. The initial question is always small, then the answers grow progressively bigger. PSYCH 485 | Lesson 12: Authentic Leadership https://psu.instructure.com/courses/2137573/modules/items/32271438. "Being immersed can be defined as a state of focus in which a person is completely absorbed and engrossed in their work." Later, he said, advice I would give is to not blindly follow trends. You see, the 2% that separated Musk from his current score and perfection sounded to him like a giant "no." You must really like us. 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