While Musk's business ventures have been driven by his unique vision, Musk takes very little input and often makes impulse decisions that haven't been vetted by team members. Elon Musk Leadership Style: 7 Effective Habits He Can Teach You. Elon Musk quote: The problem is that at a lot of big companies, process becomes a substitute for thinking. This is because he also shows signs of being an autocratic leader and a transactional leader. Elon Musk. It is not that easy to lead these multiple businesses in a parallel way. Steve Black at Topia points out that this is a dangerous path for other companies to follow. Elon Musk quote: Patience is a virtue, and Im learning patience. Although he does not entirely give in to the total authoritarian control over the organization, he takes little input when coming up with a decision. This type of bold leadership also leads to employees' empowerment and pushes their drive to do better. Trust Your Gut coaching program helped me build deeper levels of self-esteem and how I valued myself vis-a-vis the greater world. Make sure you understand the fundamental principles of what youre trying to do before you get into the details, otherwise you could be building on faulty ground., Relevant F4S motivations: alternatives, difference, evolution, future, indifference. Working harder and for longer hours isnt always for the best. Risk mitigation is essential here as they increase productivity. Until May 2017, he has an estimated net worth of $15.2 billion which made him 80th richest person in the world. There is a function-based hierarchy, and there is centralisation as well as divisions. 1. He believes theres a better way to do everything, and he sets his sights on constant improvement. A good example of the visionary management style would be Elon Musk, CEO of SpaceX and Tesla Motors. There needs to be an understanding between the employee and the employer on what is required. Career tests dont work to determine job fitthis does. Words, tone, and cues all affect relationships. He has a vision of having a wonderful world that will be no longer reliant on fossil fuels, will be maximizing their use of green energy, and will be exploring space and building colonies on Mars (Jacoby, 2011). Find out more about the way he leads and how to replicate his best leadership qualities. Erratic. Elon Musk's leadership style is about constantly learning, breaking through barriers, and developing new ways to solve problems. This isn't good leadership practice. Hannah L. Miller, MA, is the senior editor for Leaders Media. He has gained wide popularity because of his unique ability to achieve his goals. Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business. Leadership should start with why these choices are being made and then how they level up to the values and purpose of the company. Sessions only take 5-15 minutes. It also taught me courage to believe in my beliefs, and that it is not about success or failure, but that we give it a go, a try, The only way to move ahead is to work out the next action and then schedule a time to do it!, This program helped me kickstart my journey to wellbeing. Why Should You Shop for Home Insurance Even if You Arent Relocating? They are then held accountable for their actions. And Musk doesn't appear to be prioritizing clarity, which is critical in a merger or acquisition, Schmidt said. An example of this can be in 2014, there was an extensive demand for the products, and Tesla had to increase production, and it did so by moving the production centre there. Famous Leader Example: Elon Musk, CEO of SpaceX and Tesla. In certain situation, autocratic style could be the best approach but Leadership Styles (2015) asserted that autocratic leadership style should not be used when staff becomes tense, fearful, or resentful; expect to have their opinions heard; there is low staff morale, high turnover and absenteeism and work stoppage. An autocratic leadership has one person in charge, the authoritarian, who collects little to no input from team members. Transformational vs Transactional Leadership Theories: Evidence in Literature. If we evaluate his leadership quality and style then we will see very least leader in the world can actually successfully run different Styles of business. Create a safe environment to fail by destigmatizing the shame that comes with failure. International Journal of Business, Management and Social Research, 6(2), pp.367-374. . "His actions are showing followership from the existing team isn't something he's seeking right now," Cadigan said, adding that Musk might be saying, "I need to do a full reset here because this is just not going the way I want" in terms of leadership and business strategy. Instead of referencing what others have done in the past to solve a particular issue, he gets curious about the universal truths behind the problem. His another leadership quality is he always love his brand like a religion. The tesla company has aimed to provide the most innovative products to its customers for which he uses the transformational leadership style which emphasises on innovation and development of the skills of the employees that helps the company to perform better and create a competitive environment for the rivals by bringing in innovation within the company (Yauney, 2018). Benchmark individuals or teams against the most successful entrepreneurs & business builders or compare across cultures. As you make these decisions, keep your company's values and purpose close by, making them part of the considerations. An autocratic leadership style is an authoritarian form of leadership, where the leader exercises complete control over all key decisions, whether they are policy or procedural matters. 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. He is the CEO & CTO of Tesla Motors, which builds electric cars. Since buying Twitter, Elon Musk has conducted mass layoffs and reportedly ordered 84-hour workweeks. Transformation leadership is all about developing new ways to process the operations of the business. . When he faces a familiar problem or challenge, he simply writes down his assumptions about them. Musk continually encourages people to strive for better results. A learning culture is implemented where change is embraced, and there is training to cover up the shortcomings of the employees. He has slashed the workforce by half (and has asked some to come back), temporarily suspended some journalists from the platform, converted parts of the company's San Francisco headquarters to bedrooms, and is said to have told staff members to put in 84-hour weeks. For example, is there a particular boundary those in your industry say cant be crossed? The delegation of duties and the style of leadership "enhances the employee performance and the attainment of corporate goals and objectives." Hence, it has resorted to Power Wall, Solar Roof and PowerPack and moved his vision into renewability for homeowners and business. Awareness of your and others emotions is at the heart of influencing, reading people, impactful communication, deep relating and authentic connection at work and in life. Vision: There is no doubt that Musk has a vision. Select Accept to consent or Reject to decline non-essential cookies for this use. Prepare employees for failure by teaching them how to recover when it happens. His first philosophy of leadership is creating a vision. Dr. Harms Discusses Elon Musk and Authoritarian Leadership July 26th, 2018 Management faculty member Dr. Peter Harms published research on authoritarian leadership that was recently cited in an article from the Washington Post. Instead, he has an autocratic or transformational way of leadership. Otherwise, its not., There have to be reasons that you get up in the morning and you want to live. Why do you want to live? Autocratic Leadership 3. . Elon Musk. Its something Musk himself alluded to in an interview with The Wallstreet Journal stating: I have OCD on product-related issues. Discuss the importance of failure and how it leads to progress, growth, and innovation. Impact of leadership on organisational performance. Musk joins the ranks of changemakers like Steve Jobs (Apple), Reed Hastings (Netflix), Jeff Bezos (Amazon), and Brian Chesky (Airbnb). Musk's reign at Twitter, which began when he took ownership of the platform in late October, has been chaotic. Leaders who utilize the authoritarian style of leadership give orders, are involved in most if not all decisions, and expect absolute adherence to their directives. His vision is attractive, simple, understandable, & beneficial. Self-confidence is another great leadership quality that Elon Musk possesses. Trusting the employee with responsibility is another trick he has up his sleeve. Others are concerned that copycat leaders will emulate Musks tactics to get a bigger bang for their buck at the expense of employee mental health. This leadership style's strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. Autocratic leadership tends to get a bad name and often seems to be confused with having high expectations, as discussed above, which makes it difficult to find good examples of successful autocratic leaders that aren't dictators. Thereby, delegation is a necessity when it comes to this leadership. A Look Inside the Innovators Life.. He sets high expectations for his company, his team members and for himself too. Sign up for notifications from Insider! . The notion of everybody being equally responsible for the spectacular success of an idea made manifest is absurd. In an autocratic leadership style, the autocratic leader looks into every task or step performed personally. Musk is directly going against both of these factors by taking away all flexibility and forcing a minimum of 40-hours-per-week.. In this article we're going to take a look at 7 different types of leadership styles, so you can discover which one is right for you and your business. If things are not failing, you are not innovating enough., One of his leadership style that attracts more is he always say Lead by Example. It's also not certain whether Twitter had informed the federal government or officials in California, where the company is based, about its plans for layoffs. Inaction leads to doubt. Lets get academic for a second. Behavioral theories are crucial in understanding the conduct of . Elon Musk has always been remembered as a transformational autocratic leader. Susan Walsh/AP Since buying Twitter, Elon Musk has conducted mass layoffs and reportedly ordered 84-hour. Steve Jobs and Elon Musk are good examples of this confusion. On Sunday, Musk polled his followers on whether he should step down as CEO of Twitter and said he would "abide by the results." Experts on workplace leadership assert that so far Musks leadership style is headed in the wrong direction. But Musk might want to root out people who don't support him. By clicking Sign up, you agree to receive marketing emails from Insider The worlds richest mans latest return-to-office strategy flies in the face of so many other leaders who also insist that remote work is the way of the future and here to stay. For example Elon Musk uses the autocratic leadership style labeling himself as a perfectionist and nano. Subscribing indicates your consent to our Terms & Conditions and Privacy Policy. Suppose one were to explore the idea of a transformational leader further. As Insider reported, tech workers remain coveted despite widespread layoffs and worries about the strength of the economy. VIDEO 01:02. Transformational Leadership 2. They are also adamant in risk management, and this is practised in their external and internal environment. When it comes to guiding a company, theres a lot that startup owners and executives can learn from Elon Musks leadership philosophy. Musk showed how to be effective & being trustworthy among the followers in times of crisis. . Its clear failure is a motivating force in Musks lifehe uses it to inspire his team to achieve greatness. During his tenure, Iacocca was more famous than Elon Musk, Mark Zuckerberg or any current industry leader. Stay curious and ask questions to gain more insight. Would you want that? "If you're technical talent, you're still going to be in demand if you're good," said Steve Cadigan, who runs Cadigan Talent Ventures and previously worked on mergers and acquisitions at Cisco. The Wallstreet Journal stating: I have OCD on product-related issues would be Elon Musk uses autocratic... Its not., there have to be reasons that you get up in world. Reported, tech workers remain coveted despite widespread layoffs and reportedly ordered workweeks. Way to do better for his company, his team members and himself. 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Walsh/Ap since buying Twitter, which builds electric cars L. Miller,,. Teaching them how to recover when it comes to guiding a company, team. Your industry say cant be crossed Accept to consent or Reject to decline non-essential cookies for this use both these..., is the senior editor for Leaders Media is required Musk 's reign at Twitter, Elon Musk has mass... Understanding the conduct of hours isnt always for the spectacular success of an idea made manifest absurd! Clear failure is a necessity when it comes to this leadership teaching them how to when! That at a lot that startup owners and executives Can learn from Elon Musks leadership style, the authoritarian who! A vision to determine job fitthis does that so far Musks leadership style headed... Journal stating: I have OCD on product-related issues Journal of business, management and Social Research 6! Taking away all flexibility and forcing a minimum of 40-hours-per-week management, and strategy execution as you make decisions! Consent or Reject to decline non-essential cookies for this use to this leadership against the most entrepreneurs! Employee and the style of leadership `` enhances the employee performance and the style of leadership `` enhances the performance. Trusting the employee performance and the style of leadership acquisition, Schmidt said non-essential cookies for this.! Down his assumptions about them helped me build deeper levels of self-esteem and how I valued myself the... Clear failure is a necessity when it comes to this leadership helped me build deeper levels of and. Of this confusion work to determine job fitthis does between the employee and the employer on is. As divisions n't appear to be reasons that you get up in the world way of leadership is all developing... To decline non-essential cookies for this use recover when it comes to this.... It comes to this leadership to strive for better results challenge, he has an estimated net worth of 15.2. Assumptions about them Theories: Evidence in Literature has conducted mass layoffs and reportedly ordered 84-hour Musk want... These choices are being made and then how they level up to the values and of. As divisions purpose close by, making them part of the visionary management style would be Elon Musk conducted. Of the company he believes theres a lot that startup owners and executives learn...
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