Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. His success comes from key personality traits the drive him to constantly be creating. Finally I will identify two other leadership theories that best represent . Why? PSYCH 485 | Lesson 12: Authentic Leadership https://psu.instructure.com/courses/2137573/modules/items/32271438. You can't . During these times, he didn't think about anything else. Errol shot and killed . 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?. All of his qualities and traits cannot be described in words. We can rattle off Elon Musk's accomplishments in our sleep: co-founder of monetary giant PayPal; founder of Tesla Motors, the electric car company that is changing the world; and founder of Space X, which is focused on space exploration and space travel, and has even sent NASA to the International Space Station on his spacecraft. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. While there are lots of impressive leaders, few touch his superhero scale. 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. 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. SpaceX was an idea, a very risky idea, that was successful against all expectations, but Elon Musk inspired many with his great ideas and made everyone look beyond. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. Sign up for notifications from Insider! Musks childhood problem with bullies played a large role in developing his optimistic tendencies. 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 This is 90 percent of the solution, as hiring wrong can cost you so much." Elon Musk noted hiring the right people as his most important advice for up-and-coming leaders. 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. Great post! 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 What is your vision? Elon Musk's leadership style is awe-inspiring - most of the time. Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. SpaceX almost went bankrupt. In 1989, Musk moved to Canada and began undergraduate studies at Queens University in Ontario. How many opportunities are lost because of our fear of asking? Musk is undoubtedly a visionary. We live in a highly distracting world. Even though Musk no longer performs menial labor, his work ethic remains second to none. Even if it was for 2%. Hes on a mission to save humanity. 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. Because "no" meant nothing. Now many of you will read this and think: Why? Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future. 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. Researcher Fred David found that 59 percent of the Chief Executive Officers of Business Weeks top 1,000 firms run companies that do not havemissionstatements.13 Many of these firms go on to acquire companies out-of-line with the companys original core business or product areas. Management at many different companies underestimate the importance of developing a mission statement. 2.1.3.1 Visionary Leadership Elon Musk is an example of the visionary leader. But this small, simple detail is a defining one. Later, he said, advice I would give is to not blindly follow trends. 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. Musk summarizes his emotional response to being bullied as a child, If you get up in the morning and think the future is going to be better, it is a bright day. Musk has a preternatural ability to see past the current trends and statuses to see what could be. This is a BETA experience. Musk has taken out personal loans amounting to millions to keep his ventures afloat. Musk also co-founded Tesla Motors, which aims to build low-cost electric vehicles and revolutionize the automobile industry. 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. In a capitalist society, it is easy to become disillusioned with leaders and leadership. The delegation of duties and the . Companies looking to gain a competitive edge should invest in their human capital by creating an office culture conducive to developing quality managers. 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). What can you do to set the standard in your industry? How many opportunities are lost because of our fear of asking? There's an anecdote Musk's first wife tells of him back in college. Opinionated But Humble Apple's Steve Jobs, like Musk, lived in the bottom right . Elon Musk has promoted the growth of Tesla from an average company to a world-class top-competing brand with tens of billions in revenue earnings. Had he been afraid of failure, two of the most recognizable companies in the United States may no longer exist. Business Insights Blog. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. Leaders are often faced with complex challenges that require critical thinking and effective decision-making. entrepreneur.com/article/279971. 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). 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. Why is Elon Musk so scared of Artificial Intelligence? ChatGPT vs. Bard: A Modern Day David and Goliath Story. Musk appears to have the giddy excitement of a schoolboy for the fields his companies drive forward. Your email address will not be published. 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. Now many of you will read this and think: Why? 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. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Score: 10 out of 10 (highest in the batch) Md. He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). They push people out, spiral out of control, or end up underperforming dramatically. 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. He has had many failures in the course of his career, ranging from mechanical failures in his Tesla brand to rockets crashing. 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. City, University of London provides funding as a founding partner of The Conversation UK. Musk has perfected the art of remaining focused. For leadership profiles of other famous business leaders, including Steve Jobs, Oprah Winfrey, and Warren Buffett, check out our Business Leadership Profiles section. 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. 2017 BluePointe Capital Management, LLC. The truth is, if we are passionate - or find passion - in the work we're doing, work stops feeling like work. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. 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. 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 . After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. By clicking Sign up, you agree to receive marketing emails from Insider 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? He has become an inspiration for many young leaders in the world of business. These are the brutal facts a new leader must confront. But the reality has been rather different. "Being immersed can be defined as a state of focus in which a person is completely absorbed and engrossed in their work." Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times, Stayed True to His Triple 'Win' Strategy to Build a $1 Billion Business, the 10 Most Difficult Conversations to Have in the Workplace. China's birth rate declines for first time in decades. 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. 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). Skip to document. Warren Buffett. Elon Musk's leadership style makes him unique and better than almost anyone. 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. Guided by a strong sense of personal values has earned him/her great respect from staff, competitors, advisers, family and wider community. 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. Its been a tumultuous year for Twitter and Musk. He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. He received his first computer at 9 and by 12 had coded and sold a video game (Cole, 2021). 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). Nominate him or her for our award by visiting here. August 10, 2016. accessed November 23, 2017. https://www. Visionary leadership exists in most, if not all, other fields too. He sees problems as opportunities and that is what has led him to his success. Autodesk is a leader in providing design and . So, if Twitter wants to find a new CEO, what sort of person should the troubled social media platform be looking for? The fast-talking 'Suits' attorney has a lot to say about what it takes to succeed in business and life. Musk has remained true to his vision for the future throughout his career. From time to time, take the time to reflect on your own performance as a leader. 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. . His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. All three of these components together are what make an authentic leader and are what makes Elon Musk an authentic leader. The primary source of Elon Musk power is his leadership skills. 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. His first marriage was to Canadian author Justine Wilson in 2000. You have two choices in life - to see the world as a pessimist, or . [3] It could be a good exercise to think of ways you can distill these traits as usable leadership skills. Elon Musk's leadership style is transformational since it focuses on innovation and achieving large scale goals. However, Musk does it in a healthy, constructive way. This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. . 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