(Tiểu luận) topic elon musk’s leadership style

Trang 1 HO CHI MINH CAMPUS---oOo---MIDTERM ASSIGNMENTLEADERSHIPTOPIC:ELON MUSK’S LEADERSHIP STYLE Trang 2 AppendixChapter 1: INTRODUCTION...2Chapter 2: LITERATURE REVIEW...42.1 Theories

HO CHI MINH CAMPUS -oOo -

MIDTERM ASSIGNMENT

LEADERSHIPTOPIC:

ELON MUSK’S LEADERSHIP STYLE

Lecturer Nguyễn Thị Minh Hà

Students Đoàn Ngọc Minh Khuê

Ho Chi Minh, 21st September 2022

Chapter 1: INTRODUCTION 2

Chapter 2: LITERATURE REVIEW 4

2.1 Theories used and similar researches: 4

2.1.1 Vision: 4

2.1.2 Social Architect: 4

2.1.3 Trust: 5

2.1.4 Creative deployment of self: 5

2.2 About Elon Musk 6

Chapter 3: RESEARCH METHODOLOGY 8

3.1 Qualitative Research 8

3.1.1 Observational methods 8

3.2 Interviews 9

Chapter 4: FINDINGS AND ANALYSIS 11

4.1 Theory proposed: Transformational Leadership Style 11

4.1.1 Definition of Transformational Leadership Style: 11

4.1.2 Components of Transformational Leadership Style: 11

4.2 DEEP ANALYSIS OF ELON MUSK BEHAVIORS: 12

4.2.1 Elon Musk leadership in general 12

4.2.2 Analysis of 4 components of Transformational Leadership Style through Elon Musk behaviors: 13

4.2.3 How employees think about Elon Musk leadership style: 15

4.2.4 Advantages and Disadvantages regarding Elon Musk’s leadership style: 16 4.2.5 Elon Musk controversy as a leader: 18

Chapter 5: RECOMMENDATION AND CONCLUSION 19

5.1 RECOMMENDATION 19

5.2 CONCLUSION 20

Chapter 6: References 21

Scholars and practitioners agree that fundamental strategies like strategic planningand leadership are essential to boosting organizational performance in the twenty-firstcentury Given how quickly the corporate environment is evolving, leadership presentschallenges not just in leading a company but also in leading the environment Organizationshave been more aware over the past several years of the critical need for leaders Therefore,leaders must constantly modify people, processes, structures, and technology One typicalexample of a successful leader in the entire world is Elon Musk - who was one of the firstsubstantial investors in, as well as the CEO of, the electric automobile manufacturer Teslaand also co-founded the electronic payment company PayPal and SpaceX, which makeslaunch vehicles and spacecraft.

This analysis is narrowly concentrating on how Elon Musk employs histransformational leadership style in his prosperous enterprises The aim of the research is toobserve Elon Musk’s transformational leadership in his companies The following parts ofthe report will discuss deeply in the normal transformational leadership and focus moredetail on the way Musk uses these methods One big question the report has to make clear ishow Musk can handle all of his big enterprises and make them thrive dramatically.Ultimately, the research will have a discussion on the findings along with ending remarks

SCOPE OF THE STUDY

To clarify the effectiveness and the impacts of Elon Musk’s transformationalleadership style, this research has analyzed the pros and cons of the basic transformationalleadership styles and compared with Musk’s employees feelings to find out that theleadership style that Musk applies to his employees is successful The report also conveysliterature review in leadership theories to define the transformational leadership styles Thestudy ends with the impacts of Musk’s leadership performance in his enterprises

AIMS AND OBJECTIVE

The reports investigates the following objectives:

1 To investigate how Elon Musk's leadership styles directed his employees

2 To evaluate the significance of adopting a transformational leadership style in an organization's management.

3 To study the good point of this leadership style and avoid some errors

2.1 Theories used and similar researches:

Leadership, as a topic, has experienced a dramatic increase in interest and theoreticalresearch over recent years The complexities of practicing leadership have beendemonstrated by a range of contrasting theories A single definition for the term 'leadership'

is yet to be uniformly accepted by academics with more than 100 different definitions beingidentified (Rost, 1991) However, a common thread within all definitions is the notion ofone's ability to manage and influence followers to achieve set goals in a specific situation Musk’s leadership behaviors coincide with each of Bennis and Nanus’ four strategies typically used by transformational leaders (1985, in Northouse, 2013)

2.1.1 Vision:

There is no doubt that Musk has a vision He has a vision of a world that is no longerreliant on fossil fuels, is maximizing their use of green energy, and is exploring space andbuilding colonies on Mars (Jacoby, 2011) This vision is attractive, simple, understandable,beneficial, and–quite literally–energy creating (Northouse, 2013, p 197) Even though tomost people his vision is neither realistic nor believable, Musk has made it his mission tomake it both

2.1.2 Social Architect:

In many ways, Musk has inspired his employees In each of his ventures–includingthe development of the Tesla Model S electric car and the launch of the SpaceX Falconlaunch vehicle–Musk has managed to “mobile people to accept a new group identity [and] anew philosophy” (Northouse, 2013, p.197) For Musk, that philosophy is maintainingunprecedented standards of excellence and clearing unforeseen paths of progress in nearlyabandoned industries Dolly Singh recounts Musk’s address to his employees of SpaceXafter the failure of the first launch attempt–a pivotal moment in which she recognized that “afailure in leadership would have destroyed us” (2013) However, in what Singh calls “themost impressive display of leadership that [she] had ever witnessed,” Musk encouraged andmotivated his team with “fortitude and ferocity,” saying, “For my part, I will never give upand I mean never” (2013)

In this and similar situations, Musk continually earns the trust of his followers by

“being predictable [and] reliable, even in situations that are uncertain” (Northouse, 2013,p.197) Time and again, when Tesla struggled through various crises of financial difficulty,Musk continued to fund the company out of his own pocket, ultimately investing over $100million into the electric car company (Jacoby, 2011) It should be noted that research showsthat transformational leadership is most effective in times of crises (PSU WC, 2015); assuch, it is unsurprising that Musk’s transformational leadership strategies were mostapparent in these uncertain situations

2.1.4 Creative deployment of self:

Northouse notes that transformational leaders have a high “positive self-regard” andfocus on “their strengths rather than dwelling on their weaknesses” (2013, p 197).Furthermore, they have a tendency to “immerse themselves in their tasks and theoverarching goals of their organizations” (2013, p 197) Musk is known for not being shyabout his capabilities–he speaks openly about his ability to learn complex topics, includingrocket science, through reading books (Jacoby, 2011) Additionally, to compensate for areas

of weakness, he sources experts–recruiting professionals who are top in their field andrelying on them to do the heavy lifting while still holding them to his standards ofexcellence in performance (Jacoby, 2011) Finally, in the way of immersion, Musk is knownfor sleeping very little and for throwing himself into projects with his team For example,when Tesla was in need of funding, he spent 4 weeks on the ground with his team in aneffort to fit his electric motor into a Smart car as a means of impressing the executives andensuring their financial support (Jacoby, 2011)

In spite of all this, the strongest distinguishing factor between Musk and his vision andthe standard transformational leader is the reliance on ethical standards, values, and moralconvictions Northouse speaks of one of the strengths of transformational leadership beingits “strong emphasis on followers’ needs, values, and morals,” its attempt “to move people

to higher standards of moral responsibility,” and its being “fundamentally morally uplifting”(2013, p 201) In fact, it is this quality that allows for distinction between transformationalleaders and pseudo transformational leaders, such as Adolf Hitler and Jim Jones, who rely

on “coercive uses of power” to enact changes (2013, p 201) As the saying goes, hindsight

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is 20/20; understanding of Musk’s leadership as having a moral quality or not will likely not

be solidified until it is able to be analyzed as hindsight Considering the magnitude and rate

of change he is initiating in various industries, a strong argument could be made on bothsides

2.2 About Elon Musk

Elon Musk - who had just got stuck in the scandal with Twitter in the purchase for 44billion dollars recently The person that everyone knows as the richest person in the worldright now He was born on June 28th, 1971 in South Africa He was known as a genius Atage 12 he created a video game and sold it to a computer magazine After his parentsdivorced, he came to Canada to study and seek the greater economic opportunities available

in the United States

After founding his first company, Zip2, in 1995 and selling it for $307 million a fewyears later (with Musk netting $22 million), he went on to co-found online bank X.com in1999—which merged with Confinity the following year to form PayPal, the online paymentsystem was sold off three years later for $1.5 billion

In 2002, Musk founded SpaceX, an aerospace manufacturer and space transportservices company He serves as the company's CEO and Chief Engineer In 2004 he made asmall investment in electric vehicle manufacturer Tesla Motors, Inc.; his stake is now worthbillions of dollars

In 2002, Musk founded SpaceX, an aerospace manufacturer and space transportservices company, of which he serves as CEO and Chief Engineer In 2004, he was an earlyinvestor in electric vehicle manufacturer Tesla Motors, Inc (now Tesla, Inc.) He became itschairman and product architect, eventually assuming the position of CEO in 2008 In 2006

he helped create SolarCity - a solar energy company later acquired by Tesla that wasrenamed Tesla Energy In 2015, he co-founded OpenAI, a nonprofit research companypromoting friendly AI One year later, Musk created Neuralink - which is trying to developthe brain–computer interfaces - and founded The Boring Company, a tunnel constructionfirm

In the course of his illustrious career, as we mentioned before, Elon Musk has beenrecognized as the richest person in the world since 2021

3.1 Qualitative Research

3.1.1 Observational methods

Observation method is described as a method to observe and describe the behavior of

a subject and it involves the basic technique of simply watching the phenomena until somehunch or insight is gained The term observational research is used to refer to severaldifferent types of non-experimental studies in which behavior is systematically observedand recorded The goal of observational research is to describe a variable or set of variablesand establish the cause-and-effect relationship between them More generally, the goal is toobtain a snapshot of specific characteristics of an individual, group, or setting

As described previously, observational research is non-experimental because nothing

is manipulated or controlled, and as such we cannot arrive at causal conclusions using thisapproach The data that are collected in observational research studies are often qualitative

in nature because it looks at data from all angles rather than relying on quantitative data,however, they may also be quantitative or both (mixed-methods) Many hypotheses arecreated through observation research, and by using different methods to collect data, such assurveys, interviews, physical observations of people or events Observation research isparticularly useful when other techniques are impractical

In an observation research project, data gathered through observation areincorporated into the research process Data can be collected through experiments, and fromsamples gathered through surveys and interviews The data collected by qualitativeresearchers is one of the most important aspects of their study and it directly affects theconclusions The quality of the data determines the quality of work produced by anobservation research method

Observation research can be applied to any situation where there are human beingsinteracting with one another in a social structure Traditionally, observational researchmethods have primarily been used in social and behavioral sciences, where they have beenused extensively, most notably in anthropology, medicine, and sociology Since the 1990s,scholars who apply these methods for the study of politics have been at the forefront ofpolitical science’s quantitative revolution; however, those who apply these methods to studysociety and culture continue to dominate social science journals In contrast to many other

research methods, the observation research method is not restricted to any specific area ofstudy This is because there are so many different areas of study The above mentioned fieldsoften use this method, but it can also be applied in the study of business, humanities,environmental studies and macroeconomics It can be used when studying public policy orprivate companies

Observation research method is the most common means of gathering data, and can

be applied to any situation that does not involve conducting experiments The most crucialstep in an observation research study is correctly specifying how the different variables arerelated This task often entails identifying important causal mechanisms and determiningwhen and how they occur The goal of an observation research project is to determine whathappens under different conditions

3.2 Interviews

An interview is a qualitative research method that relies on asking questions in order

to collect data Interviews involve two or more people, one of whom is the interviewerasking the questions The purpose of the research interview is to explore the views,experiences, beliefs and/or motivations of individuals on specific matters (e.g factors thatinfluence their attendance at the dentist) Qualitative methods, such as interviews, arebelieved to provide a 'deeper' understanding of social phenomena than would be obtainedfrom purely quantitative methods, such as questionnaires The content of the interviewshould be carefully prepared in terms of content, on tactics to lead the story, making theconversation happen naturally and the respondents expressing their own views and moods.The content obtained will be the opinions that help the interviewer to achieve qualitativeresults Interviews are, therefore, most appropriate where little is already known about thestudy phenomenon or where detailed insights are required from individual participants.They are also particularly appropriate for exploring sensitive topics, where participants maynot want to talk about such issues in a group environment

The biggest advantage of the Interview Method is that it helps the interviewerdiscover new ideas The in-depth interview will help the interviewer identify the opinions ofthe interviewee, giving them a multi-dimensional view of different subjects These newideas will be the basis for researchers to build a theoretical basis and expand for research

This method is especially useful in qualitative research The interview method will also helpthe researcher to better define the research problem Through the shared knowledge in theprocess of implementing the interview method in scientific research, the researcher willhave a better understanding of the research topic, thereby being able to clearly define thepurposes of scientific research.

Interviews are a great research tool They allow us to gather rich information anddraw more detailed conclusions than other research methods, taking into considerationnonverbal cues, off-the-cuff reactions, and emotional responses However, they can also betime-consuming and deceptively challenging to conduct properly Interview methods oftentake a long time to obtain a sample Having to sit down to ask and listen to opinions, and atthe same time systematize the received answers into opinions often takes a lot of time forthe researcher It is very difficult to prepare questions so that interviewees can understandand respond to new ideas for research On the other hand, questions should not be toopersonal or confusing Smaller sample sizes can cause their validity and reliability to suffer,and there is an inherent risk of interviewer effect arising from accidentally leadingquestions

4.1 Theory proposed: Transformational Leadership Style

4.1.1 Definition of Transformational Leadership Style:

Transformational leadership is a leadership style in which leaders encourage, inspireand motivate employees to innovate and create change that will help grow and shape thefuture success of the company

This is accomplished by setting an example at the executive level through a strongsense of corporate culture, employee ownership and independence in theworkplace.transformational leadership can inspire workers to embrace change by fostering acompany culture of accountability, ownership and workplace autonomy

4.1.2 Components of Transformational Leadership Style:

Photo demonstrates 4 components of Transformational Leadership Style