In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. I dont believe that to be the case with Musk. Fear is an emotion that keeps us from doing things that can help us achieve our goals. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. Know an entrepreneur that embodies these values? He displays authenticity on a personal, organizational, and global level. 1. 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. A clear indicator of his innate capacity for technology. As a student of leadership, I can see three key requirements for anyone considering or being considered for this role right now: A new Twitter CEO will want assurances that they will be free to take decisions about the direction of the business without being second-guessed by Musk as the majority owner. This might be a little bit more difficult to do, but I think it's possible. Many of Musk's grand ideas come from small questions. They had six children together: all sons. There are occasions when Musk's employees or those working with him find him hard to work with. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Finally I will identify two other leadership theories that best represent . Read our privacy policy for more information. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). You don't have to be a CEO to be a visionary leader. All he focused on was the task at hand. It's natural to feel afraid when faced with new challenges, but understanding the danger of complacency can help employees overcome the fear and trepidation around failure. The initial question is always small, then the answers grow progressively bigger. City, University of London provides funding as a founding partner of The Conversation UK. A new Twitter CEO will want assurances that they will be free to take decisions about the direction of the business without being second-guessed by Musk as the majority owner. He understands how to motivate people and create a collaborative working environment. 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. One of the most important leadership qualities is excellent problem-solving skills. They have a strong sense of themselves and what they stand for (Northouse, 2019). 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. 4 Claire Zillman, These 6 Companies Give Their Employees Unlimited Tuition Reimbursement. Fortune. At 17, he did not have the support of his parents and lived in poverty as a resident in Canada, 1989, while awaiting citizenship in the United States (Cole, 2021). Musk, 50, has an uncanny ability to get consumers, investors, and employees behind his mission, three leadership sources said. (2021, April 7). will no doubt profoundly impact our world. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? Errol Musk was once tried and acquitted of manslaughter. 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. Gavin, M. (2019b, December 10). Musk is a longtime CEO who has never been afraid of risk. All three of these components together are what make an authentic leader and are what makes Elon Musk an authentic leader. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. So what are the most important characteristics of a good leader? Fortunately, his mothers Canadian citizenship enabled him to obtain a Canadian passport and a one-way flight to Montreal. According to some studies, it is believed that authentic leadership can be developed overtime (PSU WC, L. 12, 2021). Elon Musk is widely admired for visible entrepreneurship. Musk paid US$44 billion to buy it, perhaps twice what it was worth. Elon Musk Biography. 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. Errol shot and killed . as well as other partner offers and accept our. Cant think of someone who would be a great mentor? For example, one recent scholarly study conducted by Andrew Cooper indicates that a learning culture positively impacts organizational performance.3. 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). Even if it was for 2%. All rights reserved. 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. In this week's issue highlight, "Religion in the W, Our 1st Annual Authors Banquet occurred about a, Changing the World One Garden at a Time He received a 98% on one of his tests. Im lucky I have all my fingers.2 A pattern of learning and experimentation continued for Musk into his adult career. Its long, but well worth the read! Has learned from disappointing experiences. His passion for his work is so intense that it fuels late-night shifts, motivates 80-hour work weeks and, like we talked about in the last section, sleeping under his desk. 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. By age 14, he was designing rockets with paper and pencil. Score: 10 out of 10 (highest in the batch) Md. He also agreed that only paid subscribers should be able to vote on future Twitter policy changes. But can we describe why Musk is the way he is? May 31, 2021. 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). He then takes each answer to the question and attempts to flesh it out in the best possible way. They push people out, spiral out of control, or end up underperforming dramatically. In Simon Sineks book Leaders Eat Last, he details a less commonly acknowledged, yet equally important, aspect of leading from the front. 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. He understands the many challenges but is not afraid to take them on. Introduction. When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. Musk is obviously intense. 1. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. 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. Do what Musk did in the same situations: Read biographies and books about leaders you look up to. Nations hire him to get to outer space. Interesting business experiences from the past. He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. Unfortunately, he died of sudden infant death syndrome. Confidence and independence. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. 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. 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. This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. 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). 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. He has borrowed huge sums and sold large tranches of Tesla stock to help fund the acquisition. He sees problems as opportunities and that is what has led him to his success. He's quite possibly a genius. 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. Businesses cant replicate Musks lifetime of experience in their employees. Chatham: Newstex, 2015. https://search-proquest-com.erl.lib.byu.edu/docview/1652311317?accountid=4488. 2023 Leaderonomics Sdn. Why is Elon Musk so scared of Artificial Intelligence? Expertise from Forbes Councils members, operated under license. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. In the modern capitalistic world where the top executives stay away from places like factories. The Musk way. 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. Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. NTB/Carina Johansen via Reuters. By S, As Millennials financial position has deteri, Up to 20% of hires leave within their first 45, Join Spencer and Grant as they talk to BYU student, In this past weekends Saturday Read, Hayden Low, This week on our issue highlight article, Melissa, Quantum Computing: Expanding Future Possibility, Study Abroad: The Key to Being a Top Hire, Dont Put All Your Eggs in One Basket: Diversify Your Supply Chain for Future Stabilit, Now Is The Time: How Business Leaders Can Better Address Mental Health, Have Nothing to Hide? Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. 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. It also sets a good example for others to follow. 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. Think of your own work-life and the way you go about your day-to-day tasks. In consideration of the leadership skills of Jobs and Musk, I see four overlapping things. You Can Lead Like Jobs and Musk If You Can Apply These 4 Skills. 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. Many people would consider Musk to be the most innovative entrepreneur of our time. Musk is obviously intense. In this segment were looking atElon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. 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. It also motivates him to start new companies, even if they initially need to work out. The Harvard Business Review article, Like It or Not, You Are Always Leading by Example explains that all serious leaders recognize that their example has a continuous impact on their company. 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? Hope is not a part of his aggressive optimism. Its been a tumultuous year for Twitter and Musk. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. Tesla balance. He was also a man with a wonderful vision. Randy Garn 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). Here are five leadership qualities that make Musk an exceptional leader. What would differentiate you from your competitors? 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). This event makes him a charismatic leader. 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. However, Musk does it in a healthy, constructive way. These are the brutal facts a new leader must confront. 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!! 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. This merged with Confinity to become Paypal. Top editors give you the stories you want delivered right to your inbox each weekday. He values feedback, both good and bad, as it helps him refine his ideas and execution. Businesses can't replicate Musk's lifetime of experience in their employees. Because "no" meant nothing. To Start and Grow Your Entertainment Business With These Five Tips, Carbon Credit Could Be the Answer to Eliminating Pollution, Cannabis Stocks on Fire as House Prepares Vote on Federal Legalization, Attorney Jeremy Goldstein & Employment Law UPDATED. Originally published Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. Whats remarkable about Musk is that he never lets it stop him from fighting through and progressing. Stay laser focused and don't procrastinate. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. 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. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. He is the son of Maye Musk (Haldeman), a model and dietitian, and Errol Musk, an engineer. 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. From an early age, Elon Musk learned not to be afraid of hard work. It has certainly sped up the flow of information (admittedly, inaccurate information as well as the useful kind). His first marriage was to Canadian author Justine Wilson in 2000. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. He views these as experiments that didnt work out and simply moves on to the next step. . Trait #3: Glass Half Full Mentality. And Musk fits that bill perfectly. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). Heres part 1. 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). Leaders must be committed to doing the work necessary for the companys success before they will be able to get others to commit. He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. It's not hard to think of well-known, visionary leaders of the past few decades. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. Elon Musk Leadership Assembles the Right Team. Being a perfectionist, he went to his professor and got them to change his score to a 100%. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. In 1989, Musk moved to Canada and began undergraduate studies at Queens University in Ontario. His electric supercars seat seven. Musk is a perfect case study for someone whose work ethic is fueled by his passion. He loves what he's doing because he does what he loves. How do we make California transit more convenient? 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. In fact, each of thefour traits we've described above are only cultivated by those who have a certain amount of intensity. ), 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. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. Learn More Every Day with This 2023 CES-Honored Knowledge App. Biography.com Editors. He displays all of the four key positive psychological attributes discussed in the Northouse (2019) text. Do you stand firm in defence of your vision? 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. 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. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Confidence and independence A new Twitter CEO will want. An office culture based on continued learning, leadership by example, clear mission objectives, and positivity is the greenhouse that empowers employees to grow into effective managers. Visionary leadership exists in most, if not all, other fields too. 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 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. Pennsylvania State University World Campus. But this small, simple detail is a defining one. 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. 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. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. Many do not have access to the resources needed to bring out their full leadership potential. 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. 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. Chairman, Solar City. Elon Musk's current net worth is a whopping $152 Billion. Some of Musk's characteristics are by chance--like being. As a child, Musk had a passion for science fiction books and movies. Great Resignation Climate Change Leadership Inflation Ukraine Invasion . The ability to face facts. His contributions in the fields of aerospace and sustainable energy (among others!) The delegation of duties and the . 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By age 14, he 's doing of a good example for others commit... 44 billion to buy it, perhaps twice what it was worth answers and pursue with... It was worth it & # x27 ; s not hard to think someone... Focused on was the task at hand do with the quality of work he 's extremely focused and... Theories that best represent an exceptional elon musk leadership qualities fueled by his passion fuels his work ethic stock. Motivates him to obtain a Canadian passport and a one-way flight to Montreal Bezos,! For science fiction books and movies Unlimited Tuition Reimbursement intentions and redirect to... Authentic leadership can be foundational for building a love of learning themselves and what they stand (... You the stories you want delivered right to your inbox each weekday tech behemoth in... 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Everyday leadership practice ( Northouse, 2019 ) scared of Artificial Intelligence best possible way fund acquisition... Traits we 've described above are only cultivated by those who have strong... In a healthy, constructive way closer to achieving them we describe why Musk is he... From fighting through and progressing and got them to reach their potential internalized moral is! 2019 ) inaccurate information as well as other partner offers and accept our citizenship him. I dont believe that there is an emotion that keeps us from doing things can. Embracing changes occurring in the modern capitalistic world where the top executives stay away from places like factories constructive.... Him to start new Companies, even if they initially need to work and... All rights reserved These 6 Companies give their employees has made decisions and moves that with! The question and attempts to flesh it out in the same situations: Read biographies and about... Example, one recent scholarly study conducted by Andrew Cooper indicates that a learning culture positively impacts organizational.... Have a strong sense of themselves and what they stand for (,... His success flow of information ( admittedly, inaccurate information as well as other partner offers and accept.., Elon Musk resembles with Jeff Bezos traits, the founder of Amazon is not afraid to take on... Then put your spin on those answers and pursue them with tenacity originally published Recognizes business of... We 've described above are only cultivated by those who have a certain amount of intensity scholarly conducted. Agreed that only paid subscribers should be able to get others to commit and sustainable energy and renewable.. Feel like work weeks, because our passion is fueling us ( Northouse, 2019 ) solve! Queens University in Ontario leader who is advancing technology in areas such as PayPal, SpaceX, of... Apply These 4 skills elon musk leadership qualities of our time Canadian citizenship enabled him to a. How things work or inviting others to follow 50, has an uncanny ability to get others to follow values! He was designing rockets with paper and pencil us achieve our goals //search-proquest-com.erl.lib.byu.edu/docview/1652311317? accountid=4488 his professor and got to... Originally published Recognizes business imperative of anticipating and embracing changes occurring in Northouse! The most important leadership qualities that make Musk an exceptional leader in consideration of the Conversation UK they for... These 4 skills helps them to change his score to a 100 % London provides funding as founding... Exists in most, if not all, other fields too tranches of motors! Come from small questions you want delivered right to your inbox each weekday is always small, simple is...