Or Elon Musk announcing his company's latest innovation in automobile production. If you enjoyed reading about Elon Musk, can we suggest you check outour in-depth profile of Steve Jobs? The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. The couple had five more sons through IVF; twins in 2004, followed by triplets in 2006. So, if Twitter wants to find a new CEO, what sort of person should the troubled social media platform be looking for? He also had a hand in conceptualizing and financing SolarCity, which is now the second largest solar power systems provider in the United States. An authentic leadership aims to make authenticity paramount. We'd, Thanks for all the support! It is influential and powerful. Wow, you scrolled all the way to the bottom! Do you have a strong belief in it? Originally published 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. Leadership is not just a function of management as many perceive it; it is also work and example. He hires brilliant and talented individuals that can design and develop his products. He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). 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. 3. Elon Musk was born on June 28th, 1971 in South Africa, where he grew up with his father after his parents divorced in 1980. Indeed, many prominent advertisers left the site apparently in response to Musks chaotic decision making. You may opt-out by. Together with his brother, he founded Zip2 which was an online directory for businesses. There are three main models used in this essay to explore the leadership of Elon Musk, namely behavioral theories, Transformational theory, and path-goal theory. Guided by a strong sense of personal values has earned him/her great respect from staff, competitors, advisers, family and wider community. Not only do these three specific qualities identify the definition of an authentic leader, but they help define Elon Musk and his rise to leader status and fame. 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. Businesses cant replicate Musks lifetime of experience in their employees. He dreams about stuff that no one else would 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. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Elon Musk is a billionaire and inventor who has reshaped the business world with his work in PayPal, Tesla, SpaceX, and SolarCity. As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. Because "no" meant nothing. 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 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. 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). All he focused on was the task at hand. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. Now look at Tesla: it's a booming giant that's changing the automotive world. Los Angeles: Sage Publications. He believes that the future of humanity relies on our ability to make bold decisions and take big leaps. Its long, but well worth the read! Their first son, Nevada Alexander Musk, died at the age of 10 weeks. Nations hire him to get to outer space. Im lucky I have all my fingers.2 A pattern of learning and experimentation continued for Musk into his adult career. 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. 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. At age 12, he wrote a computer program to calculate trajectories for rockets. During these times, he didn't think about anything else. Leaders must be committed to doing the work necessary for the companys success before they will be able to get others to commit. 2. Access your favorite topics in a personalized feed while you're on the go. By clicking Sign up, you agree to receive marketing emails from Insider Musk may have imagined that owning the website would be fun and make him feel powerful. 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). In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. As a young man, Musk discovered that he was keenly interested in a few fields that he thought would have an impact on the world: the internet; sustainable energy; space exploration, in particular the permanent extension of life beyond Earth; artificial intelligence; and reprogramming the human genetic code.. Fowler explains, I know that Im not just having an impact on my son, Im potentially having an impact on my sons best friends mother.19 Managers have the opportunity and responsibility to greatly impact office culture through consistent personal optimism. Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. 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 His electric supercars seat seven. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. 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. Elon Musk has married thrice and twice to the same woman. 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. His solar company is cash-flow positive. Using his own money from the sale of Paypal, Musk started SpaceX, a company dedicated to lowering the costs of space travel. We can also absentmindedly rattle off a stream of adjectives that describe him: innovator, leader, genius, visionary, futurist, entrepreneur. Adib Ibne Yousuf Follow There's an anecdote Musk's first wife tells of him back in college. How do we make California transit more convenient? He values feedback, both good and bad, as it helps him refine his ideas and execution. Elon Musk. Visionary leadership exists in most, if not all, other fields too. However, Musk does it in a healthy, constructive way. Elon Musk Biography. To understand his strategic direction to build huge companies . From an early age, Elon Musk learned not to be afraid of hard work. That openness allows him to work with his team in an atmosphere where theres no such thing as a bad idea. Instead, he cultivates a spirit of open-mindedness to encourage sharing and the anticipation of the next great idea. A railroad. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. He attended private schools and had a tough time as he was severely bullied by his peers. Related: A German Scientist Predicted That a Person Named 'Elon' Would Lead Humans to Mars. 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). And can we not only quantify those things that make Musk such a successful person but also begin to embody them in our own lives? This leadership style's strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. Although former employees sometimes describe him as autocratic and blunt to the point of offensive, they remain remarkably loyal.10 While employees may either revere or loathe the man for his methods, bright minds are consistently attracted to Musks leadership and populate his companies today. A clear indicator of his innate capacity for technology. Musk is obviously intense. He often gets frustrated when employees cannot follow his instructions. This makes him the 2nd richest person in the World, just behind Jeff Bezos. You don't have to be a CEO to be a visionary leader. 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 read everything he could find about space travel and rocket technology. Know an entrepreneur that embodies these values? His next venture was X.com, an online banking service he started in 1999. Qualities of a visionary leader. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. "What do you do when youre on your lunch break? 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. Elon Musk is such kind of a leader who possesses a lot of leadership qualities and styles. 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. Outside of the business world, Musk is leading the push for renewable energy to help fight climate change. The truth is, if we are passionate - or find passion - in the work we're doing, work stops feeling like work. In fact, there was a time during Tesla's infancy where a specific problem needed solving, so Musk would sleep under his desk and work 75-hour weeks until that problem was solved. His other ventures include Hyperloop (his design for a high-speed transportation system that would drastically reduce travel times) and OpenAI (a non-for-profit research company dedicated to artificial intelligence). An electric railroad. There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. His contributions in the fields of aerospace and sustainable energy (among others!) Oprah Winfrey. When Musk is brave with his decisions, his team is empowered with the same courage. Great Resignation Climate Change Leadership Inflation Ukraine Invasion . Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. 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). The values that our award is based upon are as follows: We define entrepreneurial spirit as the following: Embodies commitment, vision, calculated risk-taking and capacity for personal growth. The developmental authenticity of Elon Musks leadership was created throughout his childhood. Elon Musk does not have those qualities. And while it's important to prioritize work-life balance, the wealthiest people don't get wealthy by . I would have been happy with a 98%. Trait #3: Glass Half Full Mentality. We are Marriott Student Review Swipe r, Come checkout our new issue for 2022 called Authen, Lets get groovy! Here is how we would define a leader with a passion for innovation. Furthermore, Losada discovered that although teams just above the Losada Line arent hindered by negativity, teams that manage to reach a ratio of six-to-one positiveto-negative comments yield peak levels of performance.18. What would differentiate you from your competitors? As of 2020, he lives in Los Angeles, California. Elon Musk's current net worth is a whopping $152 Billion. Because "no" meant nothing. He is able to push his employees harder because they understand that they are working towards a greater cause. When considering his moral reasoning, it is important to look at the type of products he designs and creates. Elon Musk is widely admired for visible entrepreneurship. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. 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. According to some studies, it is believed that authentic leadership can be developed overtime (PSU WC, L. 12, 2021). 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. Having cofounded and sold PayPal, he quickly moved on to launching a range of ventures with world-changing aspirations for how we generate . In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. 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. The social media platforms current position leads on to a third requirement for the new leader: imagination. His intrapersonal qualities are a major component of what makes Elon Musk a more outstanding type of leader, as he has the education and drive an authentic leader needs. 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. Read our privacy policy for more information. Even if it was for 2%. "AI stresses me out," Musk said near the end of a more than three-hour presentation to Tesla investors about company plans. This management style can exist in all levels of leadership, whether you're a department head, VP, or . 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. Whats amazing about him is that he seems to believe that there is an innovation to solve every problem that arises. An authentic leader creates better relationships with colleagues, creates higher levels of trust, increased productivity, and a more positive working environment (Gavin, 2019). He is a true visionary who can see the road to the future. But can we describe why the SpaceX CEO is the way he is? 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. But he wouldn't take no for an answer. But he wouldn't take no for an answer. 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. Authentic Leadership: What It Is & Why Its Important | HBS Online. In addition to self reflection, gather feedback from your colleagues and team, and use any constructive comments to improve processes, relationships and performance in the office. 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. August 10, 2016. accessed November 23, 2017. https://www. Northouse, P. G. (2018). 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. 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. Bhd. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. Sign up for notifications from Insider! Business Insights Blog. Mission statements provide a sense of focus and direction among employees. Musk is a perfect case study for someone whose work ethic is fueled by his passion. And can we not only quantify those things that make Musk so successful, but also begin to embody themin our own lives? Also check out our Top 15 Elon Musk Quotes about Leadership. He has borrowed huge sums and sold large tranches of Tesla stock to help fund the acquisition. Leadership Qualities of Elon Musk and Learnings Oct. 20, 2018 6 likes 7,153 views Download Now Download to read offline Leadership & Management Business Leadership presentation prepared by Md. 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. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. According to published work by Walumba and associates (2008) as discussed by Northouse (2019), the four components of authentic leadership are self-awareness, internalized moral perspective, balanced processing, and relational transparency. Builds and rebuilds the teams commitment to the common goals. His entrepreneurial mentality helps him overcome his challenges when starting new companies. Musk once said, If something is important enough, even if the odds are against you, you should still do it. Finally I will identify two other leadership theories that best represent . After a closer look, researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms outside of their original scope.14. He is honest, hard-working, and a leader who has influenced many. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. How often are you distracted? Jun 21, 2022 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). In a discussion with Glassdoor on hiring employees, Elon Musk was quoted to have said, "Hire great people. The delegation of duties and the . Chatham: Newstex, 2015. https://search-proquest-com.erl.lib.byu.edu/docview/1652311317?accountid=4488. Elon Musk is Tesla Motors ' co-founder, CEO and brand architect, a firm devoted to the manufacture of inexpensive, mass-market electric vehicles, battery products and solar towers. Nominate him or her for our award by visiting here. Visiting Professor of Management Practice, Bayes Business School, City, University of London. You can save thousands of dollars, for a limited time. Related: When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? accessed November 11, 2017. https://www.inc.com/larry-kim/50-innovation-amp;-successquotes-from-spacex-founder-elon-musk.html. Musk appears to have the giddy excitement of a schoolboy for the fields his companies drive forward. Cheat Sheet: Is Teslas Elon Musk the New Steve Jobs?. Autodesk is a leader in providing design and . NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. 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). 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. 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. It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. Musk supervises the creation, engineering and layout of the products of the company. Demonstrates entrepreneurial maturity by building strategic alliances and surrounding him/herself with talented peopleindividuals, teams, the Board, and a range of advisers/allies to ensure success for all. Inspires others to keep up with the pace of change instead of staying with a day-late idea. Musks innate sense of curiosity stems largely from the unusual amount of independence he experienced as a child. After a slow start (businesses considered the Internet and online advertising merely a fad), Zip2 took off and after 4 years, and the Musk brothers sold the company to Compaq. Musk generally influences people in his organization as well as outside world by using great communication skills. Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. 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. Later in life, Musk quipped, It is remarkable how many things you can explode. You must really like us. It certainly wouldn't be that way without Musk's unblinking focus at the forefront. Top editors give you the stories you want delivered right to your inbox each weekday. (PDF) LEADERSHIP STYLES Elon Musk Tesla founder and CEO of SpaceX LEADERSHIP STYLES Elon Musk Tesla founder and CEO of SpaceX Authors: Mohammed Elnour University of Salford Abstract. April 21, 2017. accessed November 23, 2017. https://hbr.org/2016/10/like-it-or-notyou-are-always-leading-by-example?referral=03758&cm_vc=rr_item_page.top_right. By age 14, he was designing rockets with paper and pencil. Elon Musk is an American businessman. 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. His secret is that he taps into people's yearning for inspiration. Creates a culture of innovation. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). Score: 10 out of 10 (highest in the batch) Md. 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