Rational transparency is about ones ability to express their true self to others, regardless of whether the aspects of themselves are positive or negative (Northouse, 2019). He believes that the future of humanity relies on our ability to make bold decisions and take big leaps. You must really like us. Relinquish CEO duties to a qualified candidate Accept an alternative leadership role that aligns with the expertise and time availability Restructure Tesla's board of directors without conflicts of interest or dependencies Musk, as a leader, has the capability to create balance between who he is, the vision he has created for the world, and acknowledging the importance of the strength of his team (Cole, 2021). Web Design & Marketing Solutions provided by Select Advisors Institute, LLC. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. Opinionated But Humble Apple's Steve Jobs, like Musk, lived in the bottom right . Tesla Motors has a significant emphasis on producing environmentally friendly cars (Cole, 2021). Sheryl Sandberg. During these times, he didn't think about anything else. 11 Duane Ireland, and Michael A. Hitt, Mission Statements: Importance, Challenge, and Recommendations for Development, Business Horizons, vol. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. Indeed, many prominent advertisers left the site apparently in response to Musks chaotic decision making. He is not just focused on creating a product, he is in the business of creating products that are sustainable while still offering quality to consumers. 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$mcj = jQuery.noConflict(true); Your email address will not be published. The ability to face facts. 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. As a child, Musk had a passion for science fiction books and movies. 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. Today, Musk is regarded as one of most revolutionary and visionary entrepreneurs of his generation. How can you and your organization make a positive difference in the world? Having cofounded and sold PayPal, he quickly moved on to launching a range of ventures with world-changing aspirations for how we generate . Now look at Tesla: it's a booming giant that's changing the automotive world. 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. Together with his brother, he founded Zip2 which was an online directory for businesses. All rights reserved. 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). The truth is, if we are passionate - or find passion - in the work we're doing, work stops feeling like work. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. He hires brilliant and talented individuals that can design and develop his products. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. 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. Musk has responded that hell step down when he finds someone foolish enough to take over as CEO, saying he will run the software and server teams instead. 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. 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). . I feel the exact same 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. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. Musk takes a scientific approach to building teams, one that is based upon an understanding of their behavior and talent, and he leads them through action. The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology.Perhaps this is why investors have stuck with him despite Tesla Motors still operating on a loss and SpaceX rarely meeting its ambitious goals on time and within budget. Whats remarkable about Musk is that he never lets it stop him from fighting through and progressing. 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. 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. In Simon Sineks book Leaders Eat Last, he details a less commonly acknowledged, yet equally important, aspect of leading from the front. Hes on a mission to save humanity. He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. Musk chose de facto mentors from a practically endless library of great leaders, like Benjamin Franklin, Steve Jobs, Albert Einstein, Isaac Newton, and of course, Nikolas Tesla. You Can Lead Like Jobs and Musk If You Can Apply These 4 Skills. Since his parents were divorced when he was only nine years old, Elon and his younger brother Kimbal were left much of the time to explore the world on their own. Fortunately, his mothers Canadian citizenship enabled him to obtain a Canadian passport and a one-way flight to Montreal. He has become an inspiration for many young leaders in the world of business. After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future. Do you have a strong belief in it? He has had many failures in the course of his career, ranging from mechanical failures in his Tesla brand to rockets crashing. By Andrew Fayad, CEO of ELM Learning, a creative agency focused on designing custom multimedia and digital learning experiences. Confidence and independence. NTB/Carina Johansen via Reuters. Tesla CEO Elon Musk, who's originally from South Africa, has perfected the art of remaining focused. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. 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. Being a perfectionist, he went to his professor and got them to change his score to a 100%. The truth is, if we are passionate or find passion in the work we're doing, work stops feeling like work. Adib Ibne Yousuf, MBA student of BUP. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. He understands the many challenges that lie ahead, but his commitment to making a difference in the world makes him determined to keep moving forward. Stay laser focused and don't procrastinate. https://www.biography.com/business-figure/elon-musk. Originally published 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. Musk has a preternatural ability to see past the current trends and statuses to see what could be. His next venture was X.com, an online banking service he started in 1999. Question and challenge the status quo. Relies on trusted individuals while showing ability to be an independent thinker and take risks in the face of uncertainty. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. Explore the amazing adventurehe wishes to take us all upon. All he focused on was the task at hand. Knowledge Management for Logistics Service Providers: The Role of Learning Culture.Industrial Management & Data Systems116, no. Visiting Professor of Management Practice, Bayes Business School, City, University of London. Mr Musk. Elon Musk has married thrice and twice to the same woman. Authentic Leadership: What It Is & Why Its Important | HBS Online. Here is how we would define a leader with a passion for innovation. Creates a culture of innovation. He is also the CEO of Tesla Motors, the SpaceX Corporation, and SolarCity. Elon was not born into success, not was he born in the spotlight he has acquired for himself today, but instead he spent years expanding and building his interpersonal, intrapersonal, and developmental capabilities so that he could be in the position of leadership and futuristic drive. Shareholders in the car firm would probably like their hitherto successful CEO back full time. As a leader, having a vision and communicating it to your team can make a big difference in the success of your organization. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. It certainly wouldn't be that way without Musk's unblinking focus at the forefront. Stefan Stern does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment. 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? His secret is that he taps into people's yearning for inspiration. Elon Musk exemplifies the creative side of autocratic leadership. They had six children together: all sons. This mightbe a little bit more difficult to do, but I think it's possible. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. Watch this TED Talk interview with Elon Musk: Wait But Why did anamazingseries on Elon Musk. Its long, but well worth the read! I feel the same way. Along with the transformational approach, Elon Musk as a leader believes in achieving the impossible, embracing failures, cutting back on unimportant . Cole, R. (2021, June 24). Now look at Tesla: it's a booming giant that's changing the automotive world. He often gets frustrated when employees cannot follow his instructions. 10. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. The Bad: While SpaceX was in full startup mode, Elon's first son, Nevada, was born. Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. 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. They push people out, spiral out of control, or end up underperforming dramatically. After lengthy development of a new model of his all-electric Tesla car, the vehicle burst into flames during a test run. Elon Musk possesses the ability to think at the system level of design. Now many of you will read this and think: Why? But this small, simple detail is a defining one. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). 4. But this small, simple detail is a defining one. Biography.com. Musk, as a leader, has the capability to create balance between who he is, the vision he has created for the world, and acknowledging the importance of the strength of his team (Cole, 2021). He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). Related: 61 Books Elon Musk Thinks You Should Read. 7 Michael Schrage, Like It or Not, You Are Always Leading by Example. Harvard Business Review. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). Otherwise, its not.16 For Musk, the only viable option was to hold on firmly to hope. This leadership style's strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. You see, the 2% that separated Musk from his current score and perfection sounded to him like a giant "no." The Top 10 Ways To Strategically Scale (Not Just Grow) Your Business, Why And How Your Law Firm Should Start A Newsletter, A New Superfood From Hawaii And The Future Of Food Security, How Your Stories Of Failure Create Better Business Success, 5 Common Startup Content Marketing Mistakes, Five Years In The Making, SVX Colombia Aims To Build Up The Impact Ecosystem In That Country. 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. 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. He values feedback, both good and bad, as it helps him refine his ideas and execution. Throughout his childhood, Musk was repeatedly bullied by many of his classmates, once even to the point where he had to be rushed to the hospital. Big ideas always come from small thinking. Twitter is a resounding practical success. 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). Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. Musk has described his estranged father Errol as "evil.". Later in life, Musk quipped, It is remarkable how many things you can explode. Elon Musk's leadership style is transformational since it focuses on innovation and achieving large scale goals. Many people would consider Musk to be the most innovative entrepreneur of our time. (2021, April 7). 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. I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. His speeches are marked with . Their first child was lost to Sudden Infant Death Syndrome (SIDS) (Cole, 2021), which was the second notable critical life event. Read our privacy policy for more information. Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. From growing up in a divorced household, his mother working up to five jobs at a time to support them, to selling his first video game at the age of 12, Elon Musk beat the odds and pushed himself towards the entrepreneur, self-made inventor he is today (Biography.com Editors, 2021). But is it really a commercial proposition? An electric railroad. In an ideal world, he could do all of the work himself. He also uses the feedback loop as part of his self-reflection and self-improvement he seeks to always do better than he did before as he knows that every improvement will lead him closer to achieving his goals. Even if it was for 2%. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. Creates and turns vision into business realities. Expertise from Forbes Councils members, operated under license. Northouse, P. G. (2018). Musk is highly charismatic with a positive outlook and optimism for a better future. So find a smallidea. He displays all of the four key positive psychological attributes discussed in the Northouse (2019) text. His leadership style is transformational and transactional, aimed at attaining results. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. This flow state is only achieved when the person can perform undistracted by other, less significant tasks. He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. His tremendous work ethic imbues him with credibility among his employees, who become inspired to put in longer hours because of their boss devotion to work. Chatham: Newstex, 2015. https://search-proquest-com.erl.lib.byu.edu/docview/1652311317?accountid=4488. 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. All of his qualities and traits cannot be described in words. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. 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. The 45-year-old is best known for being the founder of X.Com which later became PayPal, one of the largest Internet payment companies. This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. 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! This might be a little bit more difficult to do, but I think it's possible. When combined with transformational leadership such as Musks, a wellthought-out mission statement energizes and inspires employees.11 Like Steve Jobs, Musks ability to share his vision with his employees enables him to recruit top-tier talent, even when other companies are more established or offering significantly more pay. 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. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. Here's how to do the latter, like a boss. 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. Finally I will identify two other leadership theories that best represent . 1. Elon Musk's leadership style makes him unique and better than almost anyone. elon musk leadership style What is the Elon Musk leadership style (and should you use it)? The Musk way. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. While he has garnered enormous respect due to his transformational leadership, he still exhibits autocratic leadership traits. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. City, University of London provides funding as a founding partner of The Conversation UK. In 2000, he met Justine Musk who would mother six of his children. Just like other visionaries before him such as Steve Jobs, Mark Zuckerberg and Larry Page, Musk is changing the world through following his passion, pursuing his big dreams, having laser-like focus on advancing technology to help humanity. He didn't think about anything else. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. 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). Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. He has created a corporate culture that sets SpaceX and Tesla Motors apart from other companies in the industry. His contributions in the fields of aerospace and sustainable energy (among others!) Musk also co-founded Tesla Motors, which aims to build low-cost electric vehicles and revolutionize the automobile industry. Companies looking to gain a competitive edge should invest in their human capital by creating an office culture conducive to developing quality managers. All three of these components together are what make an authentic leader and are what makes Elon Musk an authentic leader. I would have been happy with a 98%. How do we make California transit more convenient? Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). The new leader will have to confront the brutal facts of the situation according to management expert Jim Collins, this is how to begin productive change. With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. 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. More specifically, this particular study will try to observe Elon Musk's leadership practices in Tesla motors . Hope is not a part of his aggressive optimism. In 1992, Musk received a scholarship to the University of Pennsylvania, which was his golden ticket into the United States (Cole, 2021). This essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. 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