Personal Qualities of Elon Musk as an Entrepreneur

Innovation and
Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Critically evaluating any three main personal qualities that made Elon Musk a great
entrepreneur.................................................................................................................................3
TASK 2............................................................................................................................................5
Critically discussing three entrepreneurial challenges that Elon SpaceX business will face
during Starship launch and his vision in developing first sustainable city on planet mars.........5
TASK 3-...........................................................................................................................................7
Critically examining Elon Musk entrepreneurial performance and any shortcoming during his
investment in Tesla.....................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation and entrepreneurship are two elements that help companies to grow even
better than its last few years or months and to succeed in specific sector. Innovation is considered
as process of innovating some new product or services, while entrepreneurship is defined as
competence of person which they may use to develop, manage and organize innovative idea. The
current assignment will be based on Elon Musk, which falls under list of the most popular
entrepreneurs in the world. The study will explain any three main personal qualities that made
him a great businessman and will also justify three entrepreneurial challenges that his business
will face with recent Starship launch. Furthermore, the report will clarify additional research to
critically examine Elon Must entrepreneurial performance and any shortcoming during high
investment in context of specific venture.
TASK 1
Critically evaluating any three main personal qualities that made Elon Musk a great entrepreneur
A personal quality is defined as trait that make a person able to conduct beneficial and
useful activities in term of starting a new venture, launching a new product etc (Norboevich,
2020). Here, three main personal qualities discuss below in regard to Elon Musk;
Optimistic-
This quality is described as stable personality characteristic which relate to positive
expectations among person regarding future events (Gordeeva, Sheldon and Sychev, 2020).
Optimistic is one of the personal qualities which made Elon Musk a successful business man in
the world of corporate. It helps to make him able in context of grasping venture growth
opportunities that presented throughout his lifetime. He is quite optimistic with his recent launch.
His optimistic attitude towards own work and competence to rise above failures make him a
great entrepreneur and different more than rest of the entrepreneurs in the whole world. He is a
genius person, which defines his great sense and optimistic nature. According to this personal
quality, he ignored what is inconvenient and attempts to achieve set aims and objectives, which
is quite beneficial for him (Tutton, 2020). This personal quality, drive the attention and
concentration of Elon Musk towards conducting hard work and also towards attitude which
enables them to never give up regarding any challenge as easily as pessimists.

With this attitude, he more likely to continue work toward his aims, even in face of
challenges, obstacles and setbacks. Optimistic personality made him a great person and
successful entrepreneur. It permits him to gain competitive edges in term of launching Start ship
space craft, which in return provides a lot of benefits to Musk.
Passion for innovation-
In the world, each person have a specific personal quality, which makes them capable to
do certain activities. Passion of innovation is one of personal qualities that makes Musk able to
become a great entrepreneur (Luu and Nguyen, 2020). This attribute made him able to innovate
some new products such as his first Rocket ride to Mars. It enables them to recognize his venture
imperative of embracing modifications occurring in competitive business environment through
rapid improvement in each aspect of corporate world and emerging technologies as well as
demand for innovative ideas in term of goods or services. For instance, Elon Musk is a true
innovator as he innovates must electric jet. Many people consider him as the most innovative
person because he seems to trust that there is a creation to solve varied issues that arises. He is
quite passionate about innovation and according to this attribute Musk innovate many items.
Innovation is described as process of introducing something in new in term of products or
services, which help a company to satisfy the needs of their target customers. His personal
quality made him successful businessman and also enable him to change the whole world.
Personal influences-
Just like above two personal quality, the current one also contribute to made Elon Musk a
well-known entrepreneur. It is one of the best qualities that many entrepreneurs have and gain
benefits through it. It made Musk a great person and entrepreneur in term of making him able to
respect values and efforts of his workers (Breen, 2020). For example, he has potential and ability
to influence all the staff members by taking their valuable suggestions, it helps him to earn great
respect from each candidate that work within company from longer period. Elon with personal
influences attribute has influencing by contributing innovation to the world that improved it in a
different or unique manner and creates a social affects in positive manner. He attempts to
influence society and employees as well by using effective and appropriate tactics. He motivates
people to succeed and help them feel like they are important part of his organization. Musk's
drive the attention of his senior executives to find out ways to encourage and motivate
employees through selflessness.