Innovation and Entrepreneurship: The Success of Elon Musk

Innovation and
Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Personal qualities.........................................................................................................................3
TASK 2............................................................................................................................................5
Entrepreneurial challenges...........................................................................................................5
TASK 3............................................................................................................................................6
Entrepreneurial performance and shortcoming...........................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
Innovation and Entrepreneurship are considered to be the best assets for every organisation in the
present world. Economy is said to be the major target for every company. It seems to be one of
those contributors to stimulate economy in all the possible ways. innovation is almost seen in all
the areas of increased growth (Nambisan and et.al, 2019). Therefore, it is tend to have been
regarded as one of the best possible stimulator of productivity rates. The entrepreneurship as
seen the greatest in the couple of years nearby. The report brings forth the ingredients that made
Innovation and Entrepreneurship to be the successful assets of an organisational environment.
The achievements of Elon Musk and his strategies were clearly been depicted in the report with
the aim of bringing forth the essence of innovation and entrepreneurship.
TASK 1
Personal qualities
The world is aware of one of the greatest entrepreneur and the CEO of private space transport
company spaceX Elon Musk. The things that are associated upon the decisions of Elon Musk in
his real life were really the greatest inspiration for those that are opting for building
entrepreneurs. To become an entrepreneur is not a usual thing and it seems to be unusual unless
and until it is being accomplished (Lounsbury and et.al, 2019). The major personality traits that
made Elon Musk one of the world famous entrepreneur are as follows:
Never say no attitude: every big accomplishment starts from inheriting the small steps. the
small step in this aspect is to develop a great attitude and a strong determination towards the
things that are to be accomplished. The fact that Elon Musk became one of the top most famous
entrepreneur of the world is because of his outrageous determination which kept him moving
ahead with all the strategies that he has adopted (Cunningham and et.al). There seems to be many
failures in the atoms that he made upon delivering his choices. There were times when the
company went bankrupt and still his attitude kept him pushing forward. There was an incident
that will clearly defect has say no attitude in this scenario where one of his Tesla Motors
received and utter failure and was not able to achieve the mark that was expected. Right before
its deadline there seems to be a drawback that arrived in his design and it was such that the
whole company was near to the bankruptcy. This did not stop him from his strategies and he