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. What can you do to set the standard in your industry? 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. 2. This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. This might be a little bit more difficult to do, but I think it's possible. That is why our content will always be free, and we would be forever grateful to those who help make that 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 Know an entrepreneur that embodies these values? Because "no" meant nothing. Conclusion. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. 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. I dont believe that to be the case with Musk. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. Because "no" meant nothing. Big ideas always come from small thinking. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. He is able to push his employees harder because they understand that they are working towards a greater cause. 1 Ashlee Vance, Elon Musk, Man of Tomorrow. Bloomberg Businessweek no. How many opportunities are lost because of our fear of asking? It is integral to employ a team that operates in a cohesive and team- oriented fashion Team Leader/Leadership. 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. He also had a hand in conceptualizing and financing SolarCity, which is now the second largest solar power systems provider in the United States. Vision: There is no doubt that Musk has a vision. 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. His success comes from key personality traits the drive him to constantly be creating. 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. 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. I'll talk about them here. Elon Musk Leadership Assembles the Right Team. Write an article and join a growing community of more than 160,400 academics and researchers from 4,572 institutions. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. He then moved across the United States to California to pursue a PhD at Stanford; but after two days, he left the program to pursue becomingan entrepreneur. Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. Here is how we would define a leader with a passion for innovation. Errol shot and killed . 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. Mr Musk. He really gives his all to what he does.This certainly cant be easy considering the failures his companies have faced. Musk is highly charismatic with a positive outlook and optimism for a better future. This event makes him a charismatic leader. I would have been happy with a 98%. Being a perfectionist, he went to his professor and got them to change his score to a 100%. Do you stand firm in defence of your vision? A railroad. For example, one recent scholarly study conducted by Andrew Cooper indicates that a learning culture positively impacts organizational performance.3. The Musk way. Leaders must be committed to doing the work necessary for the companys success before they will be able to get others to commit. 6 Authentic Ways to Inspire Other People When Youre Not Great With Words. Heres part 1. Who Will Win? Musks childhood problem with bullies played a large role in developing his optimistic tendencies. He praised Elon Musk's ambition, revealed the traits and attitudes he looks for in people, and cautioned against becoming a VC just to get rich. The ability to face facts. This leadership style's strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. Indeed, Musks reaction to finally getting his hands on Twitter has been reminiscent of Christmas morning, when children rip open presents, display initial excitement and then quickly lose interest. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. 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. Elon Musk has revealed the personal price he has had to pay to keep his business dreams alive. But this small, simple detail is a defining one. Confidence and independence A new Twitter CEO will want. But can we. Learn to say no.. 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. 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 hard work ethic, they don't quite reach Musk's level. But can we describe why Musk is the way he is? Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. By any measure, Elon Musk is exceptionally successful. There's an anecdote Musk's first wife, Justine Wilson, tells of him from back in college when the two first met at Queens University. It's not hard to think of well-known, visionary leaders of the past few decades. In consideration of the leadership skills of Jobs and Musk, I see four overlapping things. Encyclopdia Britannica. 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). 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. 8th Edition. There are occasions when Musk's employees or those working with him find him hard to work with. 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. Now many of you will read this and think: Why? He may rethink stepping down, or even appoint someone only to sack them. Chairman, Solar City. 1. Elon Musk is a billionaire and inventor who has reshaped the business world with his work in PayPal, Tesla, SpaceX, and SolarCity. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. Musk is a longtime CEO who has never been afraid of risk. 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. 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. His financial decisions even resulted in him borrowing money to pay rent for a period of time.He has justified his unusual entrepreneurial moves saying, If I ask investors to put money in, then I feel morally I should put money in as well. Or as he has more colourfully puts it. As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. After a closer look, researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms outside of their original scope.14. The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. Northouse, P. G. (2018). City, University of London provides funding as a founding partner of The Conversation UK. 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. From a turbulent childhood in South Africa, to the forefront of global entrepreneurship and innovation, Elon Musk is attempting to lead the world to a better tomorrow. They push people out, spiral out of control, or end up underperforming dramatically. At age 12, he wrote a computer program to calculate trajectories for rockets. SpaceXs experimental rockets frequently make the news for launch failures. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. He received a 98% on one of his tests. It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. "AI stresses me out," Musk said near the end of a more than three-hour presentation to Tesla investors about company plans. Musk supervises the creation, engineering and layout of the products of the company. If being willful, and opinionated, yet adaptable are key traits to great leaders. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). He then tried to pull out of the deal in July, before finally taking ownership in October. Elon Musk has always been remembered as a transformational autocratic leader. Few more of his leadership traits are given below: Leading with Purpose Collaborative Being Comfortable with Change Operating with integrity Being Continuous learner is a priority Optimistic Musk is obviously intense. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". The social media platforms current position leads on to a third requirement for the new leader: imagination. It turns into a mission or game, and we find ourselves enjoying what we're doing. Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. I'll talk about them here. Together with his brother, he founded Zip2 which was an online directory for businesses. Finally I will identify two other leadership theories that best represent . Elon Musk is the billionaire entrepreneur and business magnate responsible for co-founding the cutting-edge companies PayPal, Tesla, and SpaceX, amongst others. So find a small idea. Elon Musk. 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. Empowering Trust Humility Visionary Delegation Innovative Positive Inquisitive Problem Solving Initiative for action Nuturing & Empathetic Active listening Patience Gratitude Strategic & Focussed Decision making Resilience Comittment Good communication Influence Transparency Respect This mightbe a little bit more difficult to do, but I think it's possible. His electric supercars seat seven. However, Musk does it in a healthy, constructive way. 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