Innovation and Entrepreneurship: Personal Qualities of Elon Musk, Challenges of SpaceX Starship Launch, and Musk's Entrepreneurial Performance

Innovation and
Entrepreneurship

Table of Contents
Table of Contents
INTRODUCTION...........................................................................................................................1
Task1 .............................................................................................................................................1
1. Three main personal qualities that made Elon Musk a great entrepreneur in order to grasp
the business opportunities...........................................................................................................1
2. Discuss three entrepreneurial challenges that Elon Mask’s SpaceX venture will face with
the recent ‘Starship’ launch:........................................................................................................3
3.Elon Musk entrepreneurial performance and any shortcoming during his investment: .........5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Innovation in today's global market environment is a prior most approach operates by an
entrepreneur in their business to attain the goals and objectives regarding competitive
scenario(Bai, Wang and Zhang, 2021). Innovation is considered to be the specific tool of
entrepreneurs, a source by which they exploit change as an opportunities for their different
business or different services. Innovation is quite important aspect in entrepreneurship.
Entrepreneur has to take innovative ideas regarding their business operation to effectively
present their products and services into the global market scenario. In order to create an
outstanding product or service, strong brand and to build effective customer network, an
entrepreneur needs to require with certain changes by analysing customer needs and requirement
in respect to compete with their competitors. Changes in products and services relates with
appropriate risks and search for the excellent idea which will be suited for the business in future
aspect too. Below report is based on the case study of Elon Musk on his mission of “SpaceX
unveils silvery vision to to Mars”. This below report consists with the topic three main personal
qualities of Elon Musk that made him great entrepreneur in relation of their decisions regarding
business opportunities. Three entrepreneurial challenges that SpaceX mission will face with
having their recent Starship launch. Entrepreneurial performance related with their business
activities and shortcoming during his investment.
Task1
1. Three main personal qualities that made Elon Musk a great entrepreneur in order to grasp the
business opportunities
Elon musk is a founder, CEO,CTO and a SpaceX chief designer, born in South Africa and an
American entrepreneur, who founded X.com, SpaceX and Tesla which are continuously growing
into global market with more rapid pace. In context of this case study he puts lots of efforts in
making things done relates with their business operations(Belitski, 2019). Entrepreneurs are
having with four roles and functions innovation and creativity, have a function which relates
with management and organisation, Risk taking ability and achievement. Entrepreneur posses
with a quality of strategic planning for their products and services which will going to implement
in the global market. As entrepreneur, they have to resolve all the queries related to their product
development and look into the market in broader sense, so here are some of the personal quality
1