Interested in learning more about Elon Musk and his companies? You have to have all the ingredients in the right proportion. Moreover, he always insists that employees will lose their talent if they are being forced into something they are not. Autocratic leaders want sole authority in their companies and rule with an iron fist, while transactional leaders can be cold and daunting because they view work as a business transaction. Impact of leadership on organisational performance. Available at: [Accessed 3 February 2021]. Vroom's theory can also emphasise this in being successful by having the right type of access to machinery and tools." Communicate the purpose of changes with your team. Autocratic Leadership 3. Show team members how to take ownership of mistakes and pivot away from setbacks. Adriansyah, M.A., Setiawan, M. and Yuniarinto, A., 2020. Elon Musks response to this project is a high-speed railway known as Hyperloop, which would transport passengers from Los Angeles to San Francisco in 30 minutes, that is 800 miles per hour. There is full disclosure of his goals throughout the organisation, and he makes his learning environment known. Feedback helps find solutions What people think about you and your company plays a vital role in its success ratio. Transformational Leadership 2. However, warning flags are flying, and changes in leadership approaches are needed for Tesla to excel. Tesla CEO Elon Musk just unveiled a cheaper Model 3. Online ISSN: 2663-9335, Vol (3), Issue 2 . Autocratic leadership. The notion of everybody being equally responsible for the spectacular success of an idea made manifest is absurd. Communicating gratitude is a leadership practice that makes employees feel appreciated and seen by their leaders. Vision: There is no doubt that Musk has a vision. Musk's leadership style is similar to that of Steve Jobs. If things are not failing, you are not innovating enough., Elon Musk quote: Work like hell. When discussing his childhood, Elon Musk tells Rolling Stone, I was raised by books. He has also suggested that "they feel a part of a larger team and by reducing the noise and blockers in their work." 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). The employee said the experience was challenging, but they came out of it 10 times smarter.. Overall, Jeff Bezos' leadership style is one that puts the customer at the center of the business and encourages staff to take risks and come up with creative solutions. 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. 2. But "it's ridiculous to do so," she said, because some workers even those accustomed to late nights and endless hours of coding will eventually leave for a job with better work-life balance. Since buying Twitter, Elon Musk has conducted mass layoffs and reportedly ordered 84-hour workweeks. in a matter of not more than 5 seconds, she explained. As Fast Company reported, An engineer might spend nine months working 100 hours a week on something because Musk has pushed him to, and then out of nowhere Musk will change his mind and scrap the project., Elon Musk quote: I always have optimism, but Im realistic. Hannah L. Miller, MA, is the senior editor for Leaders Media. Musks grandiose view and ambitious goals can be intimidating, but awe-inspiring all the same.Most of us cant conceive these things working; he cant conceive it failing. Having exercised an autocratic leadership style at each of his various enterprises, including car manufacturer Tesla and space exploration agency SpaceX, he has regularly overseen prosperity and success. Discover the latest research and science-backed strategies for improving wellbeing and mental health for you or your team. Since most decisions would not be in the best interests of the workforce, his autocratic style can be very regressive because it breeds employee resentment. Yet he is getting massive profits from his projects. Elon Musks leadership style, transformational leadership, focuses on creating real positive change in the world. Examples of Autocratic Leaders Many empire builders and leading figures throughout history have been autocratic leadersincluding Genghis Khan and Margaret Thatcher however, we'll provide two more recent examples of autocratic leadership: Richard Nixon and Elon Musk. He's already 10 steps ahead of you," a former manager at Tesla told Business Insider. Elon Musk, founder of Boring, SpaceX and Tesla, is a visionary, as was Steve Jobs, co-founder of Apple. At the same time he is admired worldwide for his entrepreneurial and leadership skills. Develop step back mastery for increased self-awareness and tools to become a better leader. . Musk used both the leadership styles that include the transformational and transactional styles (Odumeru, and Ogbonna, 2013. Most of the leaders used to say to get their jobs done somehow or they used to say it is good enough even though their works are not being done properly. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and (except on the iOS app) to show you relevant ads (including professional and job ads) on and off LinkedIn. Instead of sitting around and philosophizing about how to change the world, they outline and execute a strategy that makes their vision a reality. Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. An autocratic leadership has one person in charge, the authoritarian, who collects little to no input from team members. Were digging into the details of the leadership style of Elon Musk, and what you can learn from his groundbreaking career. Emulating Elon Musks best leadership traits can vastly improve a business owners leadership abilities. Be sure to lead this exercise by sharing your own failures and how you rise above them. "He's proven us wrong with everything he's done in business.". Become a better leader by embracing the experience and genius within others. 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. Examples of transformational leaders include Elon Musk, Oprah Winfrey, and Jeff Bezos. When you think about the defined leadership styles, Elon Musk's style is best defined as transformational. Erratic. Elon Musk. For example, Olsen et al. Stay curious and ask questions to gain more insight. For example, the Tesla management style is centered around meeting company goals. Musk is such a confident leader that he invests his own money on his business projects. Elon Musk doesn't always follow one leadership style. Most Twitter employees would be able to get another job relatively easily. He believes in personal transformation and hard work. When expanded it provides a list of search options that will switch the search inputs to match the current selection. "I wouldn't bet against him," Cadigan said. . . This leadership styles strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. He also has the emotional intelligence to bring the best out of his team, and we can attribute all this to his vast success. For example, is there a particular boundary those in your industry say cant be crossed? If a motorist were driving the wrong way on a one-way street, pedestrians would flag him down. Discuss the importance of failure and how it leads to progress, growth, and innovation. Risk mitigation is essential here as they increase productivity. . The message here is not one of doom and gloom. We will be discussing his leadership qualities and style which have made him a great leader. The SpaceX and Tesla CEO is an autocratic leader in . While Nixon was a complex leader and person many of his major. There is a certain level of autonomy within the organisation. If other people are putting in 40 hour work weeks and youre putting in 100 hour work weeks, even if youre doing the same thing, you know that you will achieve in four months what it takes them a year to achieve.. 2 African Journal of Emerging Issues (AJOEI). The transactional leadership style is used several times by Elon Musk due to the aggressive approach he follows to imbibe innovation within the company's operations (Chaudhry and Javed, 2012). Elon Musk is a South African born Canadian-American business magnate who was born June 28, 1971. Strengthen your comfort and motivation to start conversations and initiate opportunities that can inspire hearts and minds in your team and in your life. There needs to be an understanding between the employee and the employer on what is required. (CNBC, 2017), There is also a sense of resilience in this organisation that he faces. Never could I have imagined an AI coach being this good - as if you're talking to a real human and how Marlee made me accountable to my goals. It is often widely referred to as the authoritarian leadership style. Reflection and patience are core to consolidating learning, development, strategic thinking, recharging and authentic leadership. Inc. Like Steve Jobs, he is highly respected and revered for his genius, but that doesnt change the fact hes still notoriously difficult to work with. How to Wage War Against Implicit Bias in the Workplace? If things are not failing, you are not innovating enough.. He has a reputation as being equal parts genius and workaholic, and employees are quick to admit that working for him is simultaneously challenging and rewarding. Examples can comprise revolutionising cars and neuroscience. "You have to think 10 times more audacious than he does to be able to be successful.". An autocratic leader relies on their own decisions. Establish an action plan and monitor the success of your resolution. At first, he identifies and defines the assumptions. You can even write a manual on how to handle failure at your company. Elon Musk Leadership Assembles the Right Team. Big picture thinking is key in communication, leadership, decision making and situations where you need to get the gist of things quickly. Yet, as previously explained, there are a few behaviors youll want to avoid. A Transformational . Elon Musk is a successful serial entrepreneur with a reputation as a creative genius who founded PayPal, Space X and the Boring Company. Within moments, the energy of the building went from despair and defeat to a massive buzz of determination . And some of them seem happy to swing even harder than he does. In order to make suggestions on whether an alternative leadership style would aid or hinder Musk, the reader must explain their style in detail to be able to compare. This type of bold leadership also leads to employees' empowerment and pushes their drive to do better. Boil things down to their fundamental truths and reason up from there . 1. Therefore, in today's world, there needs to be for the employee to be "externally motivated. In a TED conversation with Chris Anderson, he states he looks at problems from a different perspective than most people. Top entrepreneurs on how to be a successful entrepreneur. What follows are actions that experts say corporate leaders must take in 2023 to restore post-pandemic stability to the workplaceall of which Musk is taking in reverse. You can update your choices at any time in your settings. In total, there are seven different ones: democratic leadership, autocratic leadership, transformational leadership, transactional leadership, laissez-faire leadership, charismatic leadership, and servant leadership. Many leaders of this world do not get obsessed with their work. Thumbs up Marlee!, "Wow this program has totally changed my relationship to goals! At the same time, Musk started ranking employees against one another. Elon Musks tactics are diametrically opposed to what evidenced-based research findings and expert opinions recommend. Some characteristics, however, seem more consistent than others. Musk earns the trust of his followers by being predictable and reliable, even in situations that are in uncertain. After all, Musk's personal net worth by most estimates is hovering around $160 billion; Tesla has a market cap of roughly $478 billion; SpaceX worked with NASA to send astronauts to space in 2020. . I always see whats . While a person can show traits in all of the leadership styles, one leadership style is usually more dominant than the others. Uncertainty about who's in charge and who's on the chopping block probably doesn't help. A transformational leader inspires his employees. The organisation practises a certain level of centralisation, and this can be disadvantageous because, with everything controlled at the centre, there can be unresolved issues in the regional offices.
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