Leadership traits of Elon Musk PDF

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3. Leadership traits of Elon MuskAn eminent leader must have effective leadership traits to lead their organization and investment to achievement. Elon Musk fits that bill perfectly.3 Being EnthusiasticElon Musk is passionate on his work. After selling of PayPal, he had enough and even more money to...

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3. Leadership traits of Elon Musk An eminent leader must have effective leadership traits to lead their organization and investment to achievement. Elon Musk fits that bill perfectly. 3.1 Being Enthusiastic Elon Musk is passionate on his work. After selling of PayPal, he had enough and even more money to live a pleasant life for the rest of his life. However, he insisted on making investment almost all his capitals into his firms, SpaceX, Tesla Motors and SolarCity. Musk has even taken out his personal loans which amounted nearly a million to guarantee and keep his business operating. His financial judgments even led to him borrowing money to pay his rent for a while. [CITATION Lea16 \l 2052 ] He has explained his unorthodox business decisions by saying, “I should not ask people to eat from the fruit bowl if I have not myself been willing to eat from the fruit bowl”[CITATION Pul06 \n \l 2052 ] . With the failures of his previous businesses, this cannot be simple. SpaceX's experimental rockets are often notable because of their launch failures. And Tesla Motors has been losing money for more than a decade [CITATION Isi21 \n \l 2052 ]. But with his enthusiasm and persistent efforts, his ventures become more successful and lead him to the richest man in the world. 3.2 Learn from failure “Failure is an option here, if things are not failing, you are not innovating enough.”- Elon Musk. [CITATION Lah21 \n \l 1033 ] Their launches has failed for many times at SpaceX, but Musk seize this chance to learn and improve. On his career path, he has experienced several failures, which included mechanical problems in his Tesla electric cars and rocket crashes. SpaceX had faced a failure earlier this year when one of its Falcon 9 rockets detonated shortly after takeoff. Flights have subsequently been halted to allow for the redesign of the two-foot metal bar that collapsed[CITATION Mor20 \n \l 1033 ]. SpaceX was almost bankrupt. Those failures never stop him from pushing forward and improving. That’s what fascinating about Musk. He considers these to be failed experiments and moves on to the next phase. 3.3 Having a big vision

Musk always know where he wants to be and not just knowing where he is. In 2012, Musk first introduced his Hyperloop concept. Musk started the project by investing in a $68 billion highspeed rail line between Los Angeles and San Francisco that will take three hours traveling 200 miles per hour. His proposal is predicted to take eight years to accomplish and will cost around $10 billion[CITATION Sat02 \n \l 2052 ]. Furthermore, Musk has an ambitious vision for his company SpaceX which is establishing a permanent human presence on Mars by using Starship rockets to transport people to and from the red planet[CITATION She21 \n \l 2052 ]. He believes that this aspiration will accomplish by one day. 3.4 Be creative and innovative Ranging from his initial investment in Internet banking to his current engagement in space travel, sustainable energy, self-driving vehicles, and much more, Musk has proven an ability of being a creative leader[ CITATION Lea16 \l 2052 ]. Many of Musk's grandiose ideas stem from little inquiries. How can we make public transportation more convenient? A railway. A railroad powered by electricity. An electric train that runs through a massive tunnel carved into the side of a mountain. Moreover, the coveted electric car which manufactured by Tesla has been in the market since 2019. Elon has added a few more function on the electric car. All drivers need to do is upgrade their vehicle, and they will be able to enjoy handy features such as a sketchpad for their children and a dog or bunny mode for when you have to leave your furry friends in the car while doing an errand[CITATION And21 \n \l 2052 ]. Elon also allowed Tesla drivers to customise the sound of their horns in 2019[CITATION Fin19 \n \l 2052 ]. These innovative ideas and concepts have contributed to his ventures to increase by leaps and bounds. Musk himself also becomes the richest business man in 2021. 3.5 Strong Risk Tolerance Every business starts up with a great deal of uncertainty and risk, including Elon Musk. Musk have faced the same challenges, when he chose to leave an otherwise secure existence to go on a risky and unpredictable business endeavour. In 1995, Musk chose to drop his PhD program at Stanford University. He started up a company called Zip2 with his brother. The company was sold to Compaq computers for approximately $300 million in 1999 (11). Afterwards, Musk one again took a big gamble when he invested millions of dollars in X.com, one of the world's first online banks that merged with Confinity in 2000 and later became PayPal (12). Musk decided to

expand his aspirations by launched SpaceX and Tesla motors. Even though SpaceX and Tesla were in a loss-making and unprofitable position at the beginning, Musk didn’t give up. Eventually, it’s obvious that he made over it....