The Musk way. Tesla Motors has a significant emphasis on producing environmentally friendly cars (Cole, 2021). I feel the exact same way. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. He was also a man with a wonderful 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. 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. Musk has a preternatural ability to see past the current trends and statuses to see what could be. 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. 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. 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. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. This is arguably the first of two critical life events. Even if it was for 2%. 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. Know an entrepreneur that embodies these values? 1. Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. 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. 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). Do you stand firm in defence of your vision? 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. Today, Musks hard-earned lesson to remain optimistic enables him to see a bright future in industries doomed by his critics to failure. Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. https://www.britannica.com/biography/Elon-Musk. Many do not have access to the resources needed to bring out their full leadership potential. Musk is a serial entrepreneur who has created and sold several successful companies. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. For example, one recent scholarly study conducted by Andrew Cooper indicates that a learning culture positively impacts organizational performance.3. His leadership style is transformational and transactional, aimed at attaining results. His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. 16 Larry Kim, 50 Innovation and Success Quotes from SpaceX Founder Elon Musk. Inc.com. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). And SolarCity specialises in powering homes, businesses and eventually cities with solar power.Through the many successes and many more failures of these companies, we are able to see the traits that make Musk such a good leader. Your email address will not be published. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. He then takes each answer to the question and attempts to flesh it out in the best possible way. 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. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. All he focused on was the task at hand. You can save thousands of dollars, for a limited time. 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. 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. . I dont believe that to be the case with Musk. 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. Being a perfectionist, he went to his professor and got them to change his score to a 100%. He began building up shares in the company in January 2022 and his US$44 billion (36 billion) bid to buy the platform was accepted in April. Ask yourself questions such as, How would I rate my leadership in the past 2-3months?, What could I have done better? and What can I do in future in order to perform at a higher level?. Autodesk is a leader in providing design and . He has borrowed huge sums and sold large tranches of Tesla stock to help fund the acquisition. Question and challenge the status quo. May 31, 2021. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. I'll talk about them here. Mentors are invaluable when it comes to developing a leadership style. Had he been afraid of failure, two of the most recognizable companies in the United States may no longer exist. The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. 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. But the reality has been rather different. SpaceX almost went bankrupt. 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). From time to time, take the time to reflect on your own performance as a leader. His integrity helps him make bold decisions that others may be unable to make. Be obsessed and obsessive. As a child, Musk had a passion for science fiction books and movies. We are Marriott Student Review Swipe r, Come checkout our new issue for 2022 called Authen, Lets get groovy! 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). Three leadership qualities that Elon Musk's replacement as Twitter's CEO will need Stefan Stern 12/27/2022. Musk once said, If something is important enough, even if the odds are against you, you should still do it. The initial question is always small, then the answers grow progressively bigger. One employee said "If Elon was not happy, you knew it. He is also the CEO of Tesla Motors, the SpaceX Corporation, and SolarCity. Here are a few considerations that Musk should pursue to get Tesla back on track. Leaders must be committed to doing the work necessary for the companys success before they will be able to get others to commit. This brings us to a very valuable leadership lesson that the maverick Musk has taught everyone in recent months: we should hesitate before labelling forceful people as great leaders in any setting until we have seen what their long-term impact has been. 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. Heres part 1. 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. 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. Score: 10 out of 10 (highest in the batch) Md. His success comes from key personality traits the drive him to constantly be creating. Leaders are often faced with complex challenges that require critical thinking and effective decision-making. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. Whether it was Paypal where he championed the idea of an online banking institution, or SpaceX which has become the first private company to successfully launch a rocket and dock at the International Space Station, or SolarCity which promotes the use of solar energy as a sustainable energy source, Musk is disrupting large industries by setting a new standard. He holds South . Builds and rebuilds the teams commitment to the common goals. For better or worse, here are five things weve learned about leadership from Elon Musk. Musk also co-founded Tesla Motors, which aims to build low-cost electric vehicles and revolutionize the automobile industry. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Musk is not afraid of failure and sees it as an organic part of any creation process. Even though Musk no longer performs menial labor, his work ethic remains second to none. In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. This might be a little bit more difficult to do, but I think it's possible. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. 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 However, there's no denying that Elon Musk deserves a spot near the top of that list. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. They had six children together: all sons. But this small, simple detail is a defining one. Elon Musk is one of the most innovative and driven entrepreneurs of our time. 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. Or Elon Musk announcing his company's latest innovation in automobile production. Because "no" meant nothing. Because managers generally interact with a large number of employees, they have a tremendous opportunity to influence office culture. 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. 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. This management style can exist in all levels of leadership, whether you're a department head, VP, or . Because sometimes, more than winning, leaders should inspire. Musks innate sense of curiosity stems largely from the unusual amount of independence he experienced as a child. 11 Duane Ireland, and Michael A. Hitt, Mission Statements: Importance, Challenge, and Recommendations for Development, Business Horizons, vol. Elon Musk is inventive, intuitive, sociable, and adaptable. He wants to die on Mars. As a leader, having a vision and communicating it to your team can make a big difference in the success of your organization. 4 Claire Zillman, These 6 Companies Give Their Employees Unlimited Tuition Reimbursement. Fortune. By age 14, he was designing rockets with paper and pencil. 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. What is your vision? Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). Let your vision guide you 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!! Musk is a longtime CEO who has never been afraid of risk. SpaceXs experimental rockets frequently make the news for launch failures. You don't have to be a CEO to be a visionary leader. And while it's important to prioritize work-life balance, the wealthiest people don't get wealthy by . 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). Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. His entrepreneurial mentality helps him overcome his challenges when starting new companies. . Elon Musk Biography. 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. 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. Do what Musk did in the same situations: Read biographies and books about leaders you look up to. In the end, he got his way. The fast-talking 'Suits' attorney has a lot to say about what it takes to succeed in business and life. 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. Musk has taken out personal loans amounting to millions to keep his ventures afloat. This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. Big ideas always come from small thinking. (2021). The retail giant's tech wing also warned against sharing customer info with AI bots. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. 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. Biography.com. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. Inspires others to keep up with the pace of change instead of staying with a day-late idea. Watch this TED Talk interview with Elon Musk: Wait But Why did anamazingseries on Elon Musk. In the modern capitalistic world where the top executives stay away from places like factories. Since then he has made and sometimes walked back numerous changes to the popular social media platform. Indicates that a learning culture positively impacts organizational performance.3 even If the odds are against you, you it... Must be committed to doing the work necessary for the companys success before they will be to! 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