He displays authenticity on a personal, organizational, and global level. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. He was also a man with a wonderful vision. Business Insights Blog. 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. 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. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. 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. In 2017, Musk resigned from his post with the White House Advisory Council over the United States withdrawal from the Paris Agreement. He is an early investor in SPACEX, PAYPAL, inc. tesla motors and zip2. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. 3 Andrew L. Cooper, Joseph R. Huscroft, Robert E. Overstreet, and Benjamin T. Hazen. The ability to face facts. This could be a part of why Elon Musk has been so successful. It is influential and powerful. It turns into a mission or game, and we find ourselves enjoying what we're doing. Northouse, P. G. (2018). Access your favorite topics in a personalized feed while you're on the go. Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. Together with his brother, he founded Zip2 which was an online directory for businesses. 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. Introduction. How can you and your organization make a positive difference in the world? He read everything he could find about space travel and rocket technology. Elon Musk is such kind of a leader who possesses a lot of leadership qualities and styles. Elon Musk Biography. Many of Musk's grand ideas come from small questions. The primary source of Elon Musk power is his leadership skills. elon musk leadership style What is the Elon Musk leadership style (and should you use it)? Many leaders share the mindset to "just get it done" or accept it's good enough even when it's not. Its been a tumultuous year for Twitter and Musk. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". Top editors give you the stories you want delivered right to your inbox each weekday. One employee said "If Elon was not happy, you knew it. Do you stand firm in defence of your vision? He understands how to motivate people and create a collaborative working environment. Find out why in this fantastic piece (also from Wait But Why). Elon Musk Leadership Assembles the Right Team. We can also absentmindedly rattle off a stream of adjectives that describe him: innovator, leader, genius, visionary, futurist, entrepreneur. Work Ethic => Your Goals It's safe to say that most people want to be successful, but among this group there are some who want it more. Elon Musk has clashed often with securities regulators and highway safety authorities, but there's one area the Tesla and Twitter chief says the government should regulate now: artificial intelligence. Who Will Win? This might be a little bit more difficult to do, but I think it's possible. Outside of the business world, Musk is leading the push for renewable energy to help fight climate change. Know an entrepreneur that embodies these values? Confidence and independence. Hope is not a part of his aggressive optimism. Musk generally influences people in his organization as well as outside world by using great communication skills. His integrity helps him make bold decisions that others may be unable to make. Management at many different companies underestimate the importance of developing a mission statement. 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. 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. 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. This flow state is only achieved when the person can perform undistracted by other, less significant tasks. All of his qualities and traits cannot be described in words. 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. An authentic leader creates better relationships with colleagues, creates higher levels of trust, increased productivity, and a more positive working environment (Gavin, 2019). For better or worse, here are five things weve learned about leadership from Elon Musk. 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. This management style can exist in all levels of leadership, whether you're a department head, VP, or . 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). Otherwise, its not.16 For Musk, the only viable option was to hold on firmly to hope. Stay laser focused and don't procrastinate. Randy Garn is a passionate entrepreneur, speaker, and, This Founder Started a Wellness Brand in Her Kitchen , Employees Are 45 Minutes More Productive Each Week, 61 Books Elon Musk Thinks You Should Read, A German Scientist Predicted That a Person Named 'Elon' Would Lead Humans to Mars. By clicking Sign up, you agree to receive marketing emails from Insider A Quick Whiff Of Elon's Musk 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. 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. 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 Behavioral theories are crucial in understanding the conduct of . Big ideas always come from small thinking. Musk is a perfect case study for someone whose work ethic is fueled by his passion. Musk has perfected the art of remaining focused. Related: When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? 19 Nicholas A. Christakis, and James H. Fowler, Connected: The Surprising Power of Our Social Networks (New York: Back Bay Books, 2011). 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. Elon Musk inspires his employees because, although he has high expectations for them, he demands even more from himself. It also sets a good example for others to follow. A great leader must have a vision and it is not about just knowing where you are but also where you want to be. 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. Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. 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. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. Elon Musk's leadership style makes him unique and better than almost anyone. Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. Musk has remained true to his vision for the future throughout his career. Oprah Winfrey. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. 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. 1. Interesting business experiences from the past. Later in life, Musk quipped, It is remarkable how many things you can explode. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. He values feedback, both good and bad, as it helps him refine his ideas and execution. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). Since then he has made and sometimes walked back numerous changes to the popular social media platform. Biography.com Editors. In fact, each of the four traits or fundamental principles we've described above is only cultivated by those who have a certain amount of intensity. This focus has allowed Musk to perfect the art of getting into a "flow state," which is when "a person becomes fully immersed in an activity," per Very Well Mind. Inspires others to keep up with the pace of change instead of staying with a day-late idea. But any replacement will need to be able to steer Twitter back to calmer waters, with Musk remaining majority owner. According to some studies, it is believed that authentic leadership can be developed overtime (PSU WC, L. 12, 2021). Give the obvious answers, then put your spin on those answers and pursue them with tenacity. 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. You can't . 1. In this case, a core task for the new CEO will be to recognise what sort of business Twitter is, and decide whether it is really a conventional for-profit business at all. Even though Musk no longer performs menial labor, his work ethic remains second to none. Disclaimer: The opinions expressed on this website are those of the writers or the people they quoted and not necessarily those of Leaderonomics. He is a true visionary who can see the road to the future. While most industries are still waking up to the realities of global warming and some are still ignoring it (how are climate change deniers still a thing? Sign up for notifications from Insider! 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. Even though he had complete control of his company, he gave his employees the motivation to accomplish their targets and tasks through his characteristics. There's an anecdote Musk's first wife tells of him back in college. Musk was born in South Africa to an engineer and dietician. Leveraging Digital Towards Improving Sustainability. City, University of London provides funding as a founding partner of The Conversation UK. Authentic Leadership: What It Is & Why Its Important | HBS Online. An electric railroad. As a child, Musk became interested in computer programming and taught himself to code. (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. Musk once said, If something is important enough, even if the odds are against you, you should still do it. This focus has allowed Musk to perfect the art of getting into a "flow state," "the mental state in which a person performing some activity is fully immersed in a feeling of energized focus, full involvement, and enjoyment in the process of the activity." He has borrowed huge sums and sold large tranches of Tesla stock to help fund the acquisition. Shareholders in the car firm would probably like their hitherto successful CEO back full time. Three leadership qualities that Elon Musk's replacement as Twitter's CEO will need Stefan Stern 12/27/2022. Mission statements provide a sense of focus and direction among employees. His speeches are marked with . He's quite possibly a genius. But this small, simple detail is a defining one. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. 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). Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). 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. https://www.biography.com/business-figure/elon-musk. Web Design & Marketing Solutions provided by Select Advisors Institute, LLC. I would have been happy with a 98%. 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. As a child, Musk had a passion for science fiction books and movies. The Musk way. Elon Musk exemplifies the creative side of autocratic leadership. When asked which particular work touched him, his response is equally as unique as himself: comic science-fiction novel, The Hitchhikers Guide to the Galaxy. Now many of you will read this and think: Why? 3 (2016): 584-602. https://searchproquest-com.erl.lib.byu.edu/docview/1776779178?accountid=4488. Further, Musk has been selling billions in Tesla stock and its share price is down by over 60% this year. PSYCH 485 | Lesson 12: Authentic Leadership https://psu.instructure.com/courses/2137573/modules/items/32271438. Why? 16 Larry Kim, 50 Innovation and Success Quotes from SpaceX Founder Elon Musk. Inc.com. What's the point of doing that? Businesses can't replicate Musk's lifetime of experience in their employees. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. He hires brilliant and talented individuals that can design and develop his products. His contributions in the fields of aerospace and sustainable energy (among others!) Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. 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. He received a 98% on one of his tests. Even if it was for 2%. Some of Musk's characteristics are by chance--like being. Big ideas always come from small thinking. 3 (May/June 1992). His secret is that he taps into people's yearning for inspiration. 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 . This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. However, there's no denying that Elon Musk deserves a spot near the top of that list. Conclusion. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. He understands the many challenges but is not afraid to take them on. https://online.hbs.edu/blog/post/authentic-leadership, Copyright 2023 The Pennsylvania State University, https://www.biography.com/business-figure/elon-musk, https://psu.instructure.com/courses/2137573/modules/items/32271438, https://online.hbs.edu/blog/post/authentic-leadership, A Leaders Self-Defeating Behaviors Effect on the Organization, Leaders Need to Be in Harmony With Their Followers, Nurse Leaders: The Importance of Nurses Motivating Nurses. 2. Think of your own work-life and the way you go about your day-to-day tasks. Here's how to do the latter, like a boss. If you enjoyed reading about Elon Musk, can we suggest you check outour in-depth profile of Steve Jobs? Builds and rebuilds the teams commitment to the common goals. 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. 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. 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? In a capitalist society, it is easy to become disillusioned with leaders and leadership. This event makes him a charismatic leader. How often does something small in scale pull your attention away, making you less productive and less effective? What would differentiate you from your competitors? 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. 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). Elon Musk is widely admired for visible entrepreneurship. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Let your vision guide you Cole, R. (2021, June 24). Great Resignation Climate Change Leadership Inflation Ukraine Invasion . Bhd. 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). Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. I feel the exact same way. Perhaps the imaginative leap the new CEO has to make will be to turn Twitter into a viable not-for-profit organisation, one that has enormous utility and value, if not the ability to easily make money for its owners and for advertisers. Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". Later, he said, advice I would give is to not blindly follow trends. 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. Vision: There is no doubt that Musk has a vision. Randy Garn Musk is a serial entrepreneur who has created and sold several successful companies. You see, the 2% that separated Muskfrom his current score and perfection sounded to him like a giant "no." You must really like us. When Musk is brave with his decisions, his team is empowered with the same courage. It also motivates him to start new companies, even if they initially need to work out. China's birth rate declines for first time in decades. Musk is the. Visiting Professor of Management Practice, Bayes Business School, City, University of London. 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. 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. 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It ) ( 2016 ): 584-602. https: //psu.instructure.com/courses/2137573/modules/items/32271438 to humanity if the are! On the go unique qualities, it is & Why its Important HBS... L. Cooper, Joseph R. Huscroft, Robert E. Overstreet, and Benjamin T. Hazen London provides as! The front, trusting teams, optimism and motivation many challenges but is not about just where! And pursue them with tenacity over religious and philosophical texts weve learned about leadership from Elon Musk resembles Jeff... Competitive environment through continuous improvement in all aspects of the business world, Musk is such kind a! Developing a mission statement Larry Kim, 50 Innovation and Success elon musk leadership qualities from Founder... A man with a 98 % and traits can not be described in words can we suggest Check. 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