Therefore, it is a looming threat to the employees of being micromanaged and takes away their freedom to do the work according to their creativity and as they see fit. From handling customer service to marketing, entrepreneurs and leaders wear many hats. Back in the 1980s, after Harley-Davidson had staved off a total collapse, the company discovered it wasnt out of the 4 Ways to Apply Elon Musks LeadershipStyle, Autocratic and Transactional Leadership Traits, How to Implement Elon Musks Leadership Style, Avoid the Pitfalls of Elon Musks Leadership Style, How to Practice Effective InterpersonalCommunication, How to Build a Multi-Million Dollar Go-to-MarketStrategy, 10 Steps for Becoming a SuccessfulFreelancer, Machiavellianism Explained: Personality Traits + Dark TriadSigns, How to Pay Sole Proprietorship Taxes and Avoid IRSPenalties, Heres a Step by Step Guide on How to Start aPodcast, How to Grow Your Business: 12 Tips to Use When ScalingUp, 7 Organizational Management Styles to Practice atWork, Adults Are Distracted Every 47 Seconds: How to Increase AttentionSpan, The Destructive Nature of Toxic Productivity and How to OvercomeIt, We will not stop until every car on the road is electric., If you get up in the morning and think the future is going to be better, it is a bright day. Until May 2017, he has an estimated net worth of $15.2 billion which made him 80th richest person in the world. If you want others to love it, you have to love it. Being obsessed and being obsessive is the primary leadership quality that has made him a truly great leader. Elon Musks one of the noted leadership quality is he is an innovative leader. Become a better leader by embracing the experience and genius within others. 3. In an autocratic leadership style, the autocratic leader looks into every task or step performed personally. So, like any leadership style, the Elon Musk leadership styleapproach comes with some distinct benefits and drawbacks. As leaders make these tough decisions, its tempting to take the emotion out of it, Jenn Lim told me. Like any other leader, his approach has its upsides and downsidesand theres plenty to be learned from the way he leads the charge for his employees and numerous companies, including the following lessons: Elon Musk is by no means a perfect leader, and really, theres no such thing. Schedule out reasonable completion dates for all work. Access your favorite topics in a personalized feed while you're on the go. Its a mindset. Here are two case studies of autocratic leadership styles. In many ways, hes exhilarating and motivating. Mc Gregor's Theory Y is similar to this type of leadership because it supports the idea that "managers work to encourage their workers." Sign up for notifications from Insider! 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, Marlee helped me build deeper levels of self-esteem and how I valued myself vis-a-vis the greater world. Hannah L. Miller, MA, is the senior editor for Leaders Media. Interested in learning more about Elon Musk and his companies? Elon Musk is considered one of the most influential leaders in the contemporary world. Strengthen your comfort and motivation to start conversations and initiate opportunities that can inspire hearts and minds in your team and in your life. Communicating gratitude is a leadership practice that makes employees feel appreciated and seen by their leaders. 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. Elon Musks transformational, autocratic, and transactional leadership style goes to show hes in business to produce results, not make friends. Reevaluate and improve the businesss strategy for achieving your vision. Thereby, his vision keeps expanding, and he needs his employees to do the same. That means he can be a bit of a micromanageror even a nanomanager as Musk described himself in that same conversation with the Wall Street Journal. Benchmark individuals or teams against the most successful entrepreneurs & business builders or compare across cultures. Starting a business can feel like a whirlwind. The Tesla CEO and the founder of SpaceX are creative examples of autocratic leadership. Their ability to bounce back from setbacks sets a precedent for the employees who can hen motivate themselves. Its clear failure is a motivating force in Musks lifehe uses it to inspire his team to achieve greatness. Trust in your gut feel and point of view is especially helpful for influencing and leading others, impactful communication and for living an authentic and meaningful life. Musk used both the leadership styles that include the transformational and transactional styles (Odumeru, and Ogbonna, 2013. 2). As a transformational leader, Elon Musk focuses on solving the worlds greatest problems. Hes known for being bold with an eye to the future. This is especially true when it comes to micromanaging employees and creating work environments that cause work anxiety and work burnout (for both leaders and team members). Get started for free with personal (or team) coaching. His work is highly personal to him which is born from the heart, nurtured into the heart and passionately loved. Jim Cantrell, SpaceX . When left unchecked, these two leadership styles can result in massive organizational problems. The motivated employee then works best in the interest of the organisation, which then lead towards "growth, prosperity and productivity." Find out more about his most endearing leadership qualities and how to use them to your advantage below. He already invested over $100 million of his own money into SpaceX, $10 million into SolarCity, and at least $55 million into Tesla Motors. Ibrahim, A. and Daniel, C., 2019. When discussing his childhood, Elon Musk tells Rolling Stone, I was raised by books. Learn more about how to overcome the fear of failure. Elon Musk quote: Patience is a virtue, and Im learning patience. While some of his ideas are unattainable, he has the ability to get people excited about his ambitions, projects, and plans. Instead, he has an autocratic or transformational way of leadership. Behind every accomplishment of galactic proportions, every tr. Emulating Elon Musks best leadership traits can vastly improve a business owners leadership abilities. I have OCD on product-related issues, he said in an interview with the Wall Street Journal. He always looks for an innovative invention. Elon Musk is the eldest child in the family with younger brother Kimbal and sister Tosca. 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. Bring your leadership skills and impact a global network of passionate professionals who magnify your voice, inspire your future, and celebrate all . There is a function-based hierarchy, and there is centralisation as well as divisions. Experts say that leaders must manage with stability and certainty during economic uncertainty, not add more confusion and disruption. One is If youre co-founder or CEO you have to do all kinds of tasks you might not want to do If you dont do your chores, the company wont succeed No task is too menial., And the other is Just work like hell. Elon Musk, one of the most creative leaders of our time, is widely seen as a visionary. Something went wrong while submitting the form. Companies are required to do so ahead of broad layoffs. Elon Musk, founder of Boring, SpaceX and Tesla, is a visionary, as was Steve Jobs, co-founder of Apple. He's already 10 steps ahead of you," a former manager at Tesla told Business Insider. Were digging into the details of the leadership style of Elon Musk, and what you can learn from his groundbreaking career. Hire remotely with confidence, get insights to ideal questions to ask candidates, qualify candidates faster, match to ideal role fit. Reed Hastings, the chief executive of Netflix, praised Mr. Musk at a New York Times DealBook conference late last month, calling him "the bravest, most creative person on the planet.". Ultimately, a Tesla is doing it, so we can too strategy would be highly risky for most organizations., The best way for leaders to stay true to company culture when confronted with the kinds of tough decisions Elon Musk faces is to reverse making emotionless leadership decisions. Hes been said to sleep on a couch in the Tesla factory and work 80 to 90 hours each week (sometimes even more). And ultimately invested over $100 million into the electric car company. 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. There are further divisions in this structure. Vroom's theory can also emphasise this in being successful by having the right type of access to machinery and tools." 1. Get to the core of the problem by using the 5 Whys method developed by Sakichi Toyoda, the founder of Toyota Industries. 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. How to Wage War Against Implicit Bias in the Workplace? Bureaucratic Leadership 7. 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. "I wouldn't bet against him," Cadigan said. Bill Gates. We will be discussing his leadership qualities and style which have made him a great leader. Musk encouraged and motivated his team with saying, For my part, I will never give up and I mean never. But what is it about Elon Musks leadership style that draws people to him? This leadership styles strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. Coach Marlee (your amazing AI-powered personal coach) will analyse your unique traits and goals to let you know which program to start with (and if there are any you should skip)!Your recommended programs include: Big picture thinking is the trademark of a great leader. But even so, being too bold can result in bad leadership. "He's proven us wrong with everything he's done in business.". He is the founder and CEO of SpaceX; co-founder and CEO of Tesla Inc.; founder and CEO of Neuralink; co-founder and chairman of SolarCity; chairman of OpenAl and last but not the list, founder of PayPal.