CENTRE OF FOUNDATION STUDIES

Assignment Cover
Name Shahariar Alam

Student ID 202205020017

Course Code FDNB1014

Course Name Principle of Management

Assignment # Assignment-2

Marks 10%

Lecturer Noor Amirah Rahman

Submission Date 17/11/22

Declaration:

I certify the content of the assignment is my own and original work, that all sources have
been accurately reported and acknowledged and that this document has not been
previously submitted in its entirely or in part to any educational establishment

Signature: ______________________________
For office use only: Date Received
This assignment was received:

□ Up to ONE (1) week late (5% of mark deduction)

□ TWO (2) weeks late (10% of mark deduction)
□ THREE (3) weeks late (15% of mark deduction) Over
FOUR (4) weeks late (no marks will be awarded)
□

Page no: - 1
 FDNB1014
PRINCIPLE OF MANAGEMENT PROJECT-3(10%)

LEADERSHIP
OF ELON MUSK

ASSIGNMENT SUBMITTED TO
NOOR AMIRAH BINTI ABD

DONE BY
SHAHARIAR ALAM
(202205020017)

Page no: - 2
 Acknowledgment

I would like to express my special thanks of gratitude to my teacher Noor Amirah Binti ABD
Rahman, who gave me the golden opportunity to do this wonderful project on the topic
“Leadership”, which also helped me in doing a lot of Research and I came to know about so
many new things I am really thankful to them.
Secondly, I would also like to thank my parents and friends who helped me a lot in finalizing this
project within the limited time frame. Any attempt at any level can't be satisfactorily completed
without the support and guidance of MY parents and friends.
I am overwhelmed in all humbleness and gratefulness to acknowledge my depth to all those who
have helped me to put these ideas, well above the level of simplicity and into something
concrete.

Thanking you,
Shahariar Alam.

Page no: - 3
 Table of Contents

1.0 Introduction……………………………………………………………………

1.1 Definition of leader and leadership

1.2 Relationship between leadership and performance of the organization

2.0 Content………………………………………………………………………...

2.1 Leader’s Background

2.2 Leader’s traits and skills
2.3 Leader’s leadership style
2.4 Leader’s power

3.0 Conclusion…………………………………………………………………….

4.0 Recommendation…………………………………………………………….

5.0References………………………………………………………………………

6.0 Appendix………………………………………………………………………

Page no: - 4
1.0 Introduction

1.1 Definition of leader and leadership

Leader: -A leader is the one in command and the one who persuades others
to follow. A strong leader motivates others to act by instilling their faith in
them.
A leader is the main character, the person in charge. The band's leader makes
all the decisions and determines the pace of the music. Everyone who plays
an instrument looks to him or her to know when to start and stop playing. An orchestra's leader is
the conductor. A president is a country's head of state whose choices affect the entire populace.
An influential member of the Civil Rights Movement was Martin Luther King Jr. In a social
system or procession, a leader is first in line and ultimately leads the team. Many societal spheres,
including business, politics, the local community, and nonprofit groups, all need leaders.
An effective leader has the following qualities: self-assurance, excellent communication and
management abilities, creative and inventive thinking, perseverance in the face of setbacks,
willingness to take chances, openness to change, composure, and quick thinking in emergency
situations.

Leadership: -The capacity to influence and direct followers or other members of an organization
is referred to as leadership.
Making wise and occasionally challenging decisions, defining, and communicating a clear vision,
setting realistic goals, and empowering subordinates with the information and resources they
need to reach those goals are all aspects of leadership.
People who possess these leadership traits can advance to executive management or C-level roles
in a company, including CEO, CIO, or president. The founders of Apple and Microsoft, as well
as Amazon CEO Jeff Bezos, are notable figures who have demonstrated significant leadership in
the technology sector.

1.2 Relationship between leadership and performance of the organization

Tesla is directly impacted by the management approach. Delegation of responsibilities and
leadership style improve employee performance and the achievement of organizational goals and
objectives.
Leadership has a direct impact on the culture of the company as well as on workplace
effectiveness and productivity. A competent leader will tailor them to the individual and provide
the resources required to achieve those goals. Work delegating and interactions with staff
members might help raise morale.
Tesla's goal since it was founded in 2003 has been to hasten the global switch to renewable
energy. Elon Musk, the company's founder, and Tesla will be highlighted in this. Elon Musk
founded the Boring Company, is the CEO of SpaceX, and serves as co-chairman of Open AI,
among many other businesses. Tesla is directly impacted by the management approach. The
leadership approach and task allocation improve staff performance and the achievement of
business goals and objectives.

Page no: - 5
Elon Musk is known for his aggressive attitude toward successful innovation, which can be seen
through the innovative products that he and his respective team have launched. The tesla
company has aimed to provide the most innovative products to its customers for which it uses the
transformational leadership style which emphasizes innovation and development of the skills of
the employees that helps the company to perform better and create a competitive environment for
its rivals by bringing in innovation within the company. The transformational leadership style is
about motivating the employees and providing value to them, which increases their loyalty
towards the brand and the respective company.

2.0 Content

2.1 Leader’s Background

Entrepreneur and investor Elon Reeve Musk was born on June 28, 1971. He is also the owner
and CEO of Twitter, Inc., as well as the founder, CEO, and chief engineer of SpaceX, co-founder
of Neuralink and Open AI, CEO, and chief product architect of Tesla, Inc., and president of the
Musk Foundation. with an estimated USD 174 billion net worth. According to the Bloomberg
Billionaires Index and Forbes' real-time billionaire list, Musk is the richest person in the world.

Elon Musk is the co-founder and CEO of The Boring Company, Tesla, and SpaceX.
Elon leads all product design, engineering, and global manufacturing for the company's electric
vehicles, battery products, and solar energy products in his capacity as co-founder and CEO of
Tesla.

The South African city of Pretoria is where Musk was raised. Before relocating to Canada at the
age of 17, where he later attained citizenship through his mother, he attended the University of
Pretoria. He enrolled at Queen's University two years later and subsequently went to the
University of Pennsylvania, where he earned bachelor's degrees in both economics and physics.
He traveled to California in 1995 to attend Stanford University, but he changed his mind and
joined forces with his brother Kimbal to create Zip2, a firm that makes web software. For $307
million, Compaq purchased the firm in 1999. Musk was a co-founder of the online bank X.com,
which merged with Confinity to establish PayPal the following year. PayPal was purchased by
eBay in 2002 for $1.5 billion.

Musk is a very divisive character who has made contentious claims about politics and
technology, particularly on Twitter. He has come under fire for making unfounded claims and
circulating false information on COVID-19. The U.S. Securities and Exchange Commission
(SEC) filed a lawsuit against Musk in 2018 after Musk falsely claimed in a tweet to have funds
secured for a private acquisition of Tesla. As part of a settlement deal with the SEC, Musk
resigned as chairman of Tesla and paid a $20 million fine. Musk won a slander case brought
against him by a British cave rescuer after his unsuccessful submarine suggestion during the
Tham Luang cave rescue.

Page no: - 6
2.2 Leader’s traits and skills
Tesla has recently been one of the most innovative businesses in the world. Additionally, his
leadership has provided the staff with more important opportunities by implementing fresh
approaches and plans that raise the value of the Tesla organization. As a result, Elon Musk
employed both transactional and transformative leadership techniques. It may be determined that
Elon Musk's use of transactional and transformational leadership has a favorable effect on the
organization and its employee’s performance.

Elon also drew inspiration from his intrepid flying pilot grandfather. One of Elon Musk's sources
of inspiration today must be his family. The family has had a significant impact on Elon's current
self, despite reports that he has not always had the best connection with his father. Elon gained
both direct and indirect knowledge about how to succeed.

Like most successful tech entrepreneurs, Elon developed a passion for reading early on. Elon
would quickly begin to reap the rewards of reading, allowing his mind to picture the innumerable
successes he has already begun to achieve in life.
Some of the leader Elon Musk’s traits and skills are given: -

• Have an insane work ethic: -Elon Musk is an extreme workaholic. He thinks there is no
quick way to success. He puts in 100 hours a week of labor and has for many years.
Without a question, Elon Musk puts in the most effort at work and has established high
expectations for his coworkers.
He doesn't even take a 30-minute lunch break. To increase productivity at work, he
blends it with meetings.

• Always aim for the bigger picture: -Elon Musk has focused on solving extremely
difficult problems that have plagued humanity since its inception. He has focused on
three key areas: the internet, sustainable energy, and space. Elon Musk hopes to
significantly impact these key sectors. In each of these areas, he is willing to take
significant risks because he sees no specific short-term gains. There was a moment when
no one accepted his theories and rumors began to circulate that he would lose all the
money from investors. However, this did not dampen his spirits. He succeeded because
he had confidence in himself. He plans to retire on Mars within the next.

• Never-say-die attitude: -There is no question that Elon Musk is incredibly determined

and self-driven. He showed an unwavering resolve to keep going despite all obstacles,
even after three SpaceX rocket launch failure attempts, unlike any other average
individual who would have given up. Even though the company was on the verge of
bankruptcy and Tesla Motors had missed the deadline for producing its first Tesla
Roadster, one of the directors refused to provide any additional funding so that he could
succeed Elon Musk and assume his position. But despite this, Elon Musk didn't give up.

Page no: - 7
 He tracked down the investors and retaliated. To prevent bankruptcy, he even bet all he
owned on the mortgage.

2.3 Leader’s leadership style

Elon Musk is a prime example of the innovative side of autocratic rule. While Musk's corporate
endeavors have been guided by his distinct vision, he rarely solicits feedback and frequently
makes snap judgments that haven't been reviewed by team members. For instance, Musk has
outstanding issues with the SEC because of his controversial 2018 tweet in which he claimed he
would be taking Tesla private.
The best way to describe Elon Musk's style is transformational. He focuses his emphasis on
continuous development because he thinks there is always a better way to accomplish things. He
wants to unify his team around his vision and goals since he has huge ideas.
It only makes natural that a key component of Musk's strategy incorporates unconventional ideas,
given that he runs an aerospace firm that produces rockets and other spacecraft in addition to
upending the electric car market.

Understandably, Elon Musk's leadership style has drawn attention and fascination given the
breadth of his enterprises and accomplishments. Therefore, the Elon Musk approach has some
clear advantages and disadvantages, just like any other leadership style. We're delving into Elon
Musk's management approach in detail.

2.4 Leader’s power

Money is Elon Musk's main means of influence. He has amassed a personal fortune and a group
of investors that currently includes NASA. What Musk does with his money is like what other
successful and affluent people do; he employs smart, talented people who can design and
develop his goods. Elon Musk's vision, though, sets him apart from many of those venture
capitalists. Elon desires to settle on Mars. Elon Musk balances "personalized" and "socialized"
authority while working for the advancement of humanity and the American spirit of adventure
with some incredibly self-serving behaviors. Musk's motivation is summed up by a line from
Jarod's essay: "...he rules by the strength of will.

Elon Musk's main classification of social power is "expert power." Musk is incredibly skilled at
running His enterprise thanks to his advanced grasp of engineering, business, and social
connections. In addition, Musk use "inspirational Appeals" as a persuasion strategy to inspire his
engineers to develop novel ideas and inspires his investors to continue funding him despite
setbacks. Most of us who are pursuing our aspirations love his leadership style since we all want
to be successful, thus we want to travel the path already trod by some larger personality.

3.0 Conclusion

Page no: - 8
His leadership is admired by most of us who are pursuing our aspirations and love leadership
style since we all want to be successful, thus we want to travel the path already trod by some
larger personality. We all can take inspiration from his skills in leadership. His some excellent
qualities of leadership which we all can follow:
1. Foster a Creative Environment: According to Elon Musk, a leader should foster a
creative environment in the workplace by fostering new ideas, letting team members
work how they see fit, and encouraging innovation. This means that if an employee
wants to work differently, you should not stop them; instead, you should allow their
ideas and respect their effort of working with full energy and enthusiasm. Research
has shown that people tend to work harder and more creatively in seclusion and
uninterrupted solitude.
2. Match the right person to the right job: This is Elon Musk's most well-known piece
of advice, and most of us have heard it from him because he frequently says it in
interviews.
3. Lead with Purpose: Elon Musk believes that a leader must have a purpose for having
a team, as soon as you define the purpose that why you have the team, What kind of
work the team can do, What are the work your team is supposed to do, then you
should give them the ultimate goal, you should discuss the purpose of working with
your team, over the period, it has seen that people tend to work harder and better.

4.0 Recommendation

He is inspiring and motivational in many ways. He's also imposing and demanding in other
ways. He is inspiring and motivational in many ways. He is also aggressive and demanding in
other ways. Employees readily admit that working with him is both tough and gratifying despite
his image as both a genius and a workaholic. students can take note of his discipline and hard
work. Some of his principle which students can develop themselves to be like him are: -

• Believe in yourself/Have faith in yourself: -. Many people quickly dismiss Elon

Musk's ideas as ridiculous, yet he has a strong belief in his goals and vision. Despite the
doubters, he pursues them fiercely.

• Set boundaries: - Musk pushes himself to the limit, which is a perfect example of
how not to act. Establish limits for yourself. so that you don't end yourself sleeping on the
office floor after working 100 hours.

• Make it safe to fail; -Musk is a strong proponent of psychological safety, which is

one of the many reasons his firms can innovate in the manner they do. He is aware that
his staff members must feel free to make mistakes without worrying about negative
consequences or reprimands. That is an important leadership lesson for anyone who
wants to lead a creative, forward-thinking team.

Page no: - 9
 (1930 Words)

5.0 References

Elnour, M. (2021). Linkedin. LEADERSHIP STYLES Elon Musk Tesla founder and CEO of
SpaceX. https://www.linkedin.com/pulse/leadership-styles-elon-musk-tesla-founder-ceo-
spacexmohammed-
hamed#:~:text=The%20leadership%20style%20directly%20affects%20Tesla.%20The%20deleg
ation,corporate%20goals%20and%20objectives.%22%20%28Ibrahim%20and%20Daniel%2C%
202019%29.

(n.d.). Fingerprint for success. What is Elon Musk’s leadership style (and should you use it)?
https://www.tesla.com/elon-musk.

(n.d.). Tesla. Who founded Tesla? https://www.tesla.com/elon-musk.

Pugh, T. (2020). 10 Things That Motivate Elon Musk. Medium.

https://medium.com/@tpughnsu/what-motivates-elon-musk-
529a6e975891#:~:text=Elon%20also%20found%20motivation%20from%20his%20grandparents
%20who,a%20big%20part%20in%20who%20Elon%20is%20today.

Zipkin, N. (2018). Elon Musk Admits He Was Wrong, But His Confidence Is Still Intact.
Entrepreneur. https://www.entrepreneur.com/living/elon-musk-admits-he-was-wrong-but-
hisconfidence-is-still/308752.

Page no: - 10