Introduction
Elon Musk is an American business executive, innovator, and entrepreneur. His business acumen is exemplified by his massive successes that he has achieved, mainly as the CEO of Space X and Tesla Motors, as well as other businesses, including Neuralink, the Boring Company, and Open AI. As one of the co-founders of X.com, Musk played a key role in growing the company, both locally and globally. After years of operations, Musk and his partners sold the business, and created SpaceX. He was involved in the founding of SolarCity, which is currently referred to as Tesla Energy. He also co-founded OpenAI, a research company that deals with the development of artificial intelligence.
Why I Chose Elon Musk?
I chose Musk to analyze as a leader because he is a highly creative and innovative leader. Musk has developed technologies to make electric cars powerful, safe, and reliable. The mass production of different models has proven that electric cars can rival combustion engines and aid in alleviating climate change (Easto, 2017). His business acumen is admirable as he has weathered different storms. Musk focuses on the development of technologies that promote sustainability; environmental protection and the reduction of greenhouse emissions are some of his goals.
Leadership Style
Musk’s leadership style can be defined as transformational: its major goal is bringing change to individuals and systems. It comprises four main elements: individualized consideration, intellectual stimulation, inspirational motivation, and idealized influence (Easto, 2017). Musk keeps communication channels open and offers support and empathy. He solicits ideas from employees and encourages independent thinking. He is a role model for ethical business practices, sustainability, hard work,, and trust. The leadership style boosts performance as individual capabilities are maximized.
Musk’s Way of Leadership in All Career Stages
Throughout different stages of his career, Musk has maintained a single leadership style. He follows the unconventional path that challenges the status quo by thinking big and taking risks. He sets strategic stretch goals and works towards achieving them (Easto, 2017). For example, he has a goal of colonizing mars by blowing a nuclear rocket in order to make it habitable. Musk is a believer in providing feedback to employees so that they make processes more efficient. Throughout his career, Musk prioritizes communication; he encourages employees to adopt a direct and objective approach sharing information (Easto, 2017). This ensures that great ideas are not stifled and feedback is relayed in a timely manner. He is very flexible and adaptable, often changing his mind and the course of projects whenever new developments arise (Easto, 2017).
Musk’s Leadership Traits
Musk’s innovative nature is evident from his technologies that have disrupted the automotive industry, and rendered the development of rockets more effective. The Boring Company, OpenAI, and Neuralink are examples of his innovation and exploration of new technologies (Easto, 2017). He is also inspiring and makes employees excited about his plans and projects. Though rigorous and demanding, employees work hard because they believe in his vision. Musk is also a visionary leader who believes in pursuing goals regardless of the difficulty that might be involved in their attainment (Easto, 2017). His energy and enthusiasm inspire employees to share in his commitment and passion for innovation and change. As a fast-acting and action-oriented leader, Musk works on tough goals and tasks to completion.
Organizational Accomplishments
Elon Musk has had numerous successes throughout his business career. His first success was the development of a web software company known as Zip2 in 1995 Later, he cofounded X.com, which later became PayPal, and that was sold to eBay for $1.5 billion (Easto, 2017). He used his proceeds from the sale to start SpaceX in 2002. Two years later, he became Tesla’s chairman and product architect, and officially became its CEO in 2008 (Easto, 2017). He cofounded a solar energy services company known as SolarCity: the firm rebranded to Tesla Energy after its acquisition by Tesla Motors. In 2015, he was involved in the creation of an artificial intelligence research company known as OpenAI (Easto, 2017). A year later, he cofounded Neuralink, a company that focuses on the creation of brain-computer interfaces. He also founded the Boring Company, a firm that focuses mainly on the construction of tunnels.
Accomplishments in Society
The Hyperloop is Musk’s vision for a high-speed transportation mode that aims to improve transportation in America. Musk Foundation is a collaboration between Elon Musk and his brother. The private foundation supports four main areas of the economy: human space exploration research, renewable energy, science and engineering education, and pediatric research.
Awards and Honors
Musk has received several wards for his achievements: the 2007 Index Design award and the entrepreneur of the year for his contributions to the success of SpaceX and Tesla Motors (Easto, 2017). The American Institute of Aeronautics and Astronautics awarded him the George Low award for the design of the Falcon 1 and the most outstanding contribution in the field in 2007/2008 (Easto, 2017). He also received the National Conservation Achievement award from the National Wildlife Federation for his work at SolarCity and Tesla. The National Space Society awarded him the Bon Braun Trophy for his exceptional achievements in space exploration (Easto, 2017). Other achievements include the Edison Achievement Award, the President’s award, and Businessperson of the year.
Vision for Twitter
In 2022, Musk purchased a 9.2% stake in the company, thus becoming its largest shareholder. He was elected to the board of the company and has proposed changes to the social media platform. For instance, he has suggested that an edit button should be introduced so that users can edit their messages even after posting. This proposal has elicited mixed reactions as users debate on whether it is necessary or not. His vision for Twitter involves promoting free speech and enhancing engagement on the platform. Musk has been hit with a class-action lawsuit for failing to disclose his investment in a timely manner. Investors who sold their shares might have suffered losses because they did not share in the price surge that happened after his late announcement.
Conclusion
Elon Musk is an American investor, innovator, and leader. His transformation leadership style has enabled him to attain great successes in different sectors of the economy. Musk has succeeded by setting stretch goals, inspiring employees, creating a compelling vision for his companies, innovating, and taking risks. He is an action-oriented leader who believes in inspiring employees to be and achieve their best. He has been awarded by several organizations for his exemplary leadership and achievements. He recently bought 9.2% stake in Twitter and intends to make it a better social media platform.
Reference
Easto, J. (Ed.). (2017). Rocket man: Elon Musk in his own words. Agate Publishing Inc.