Innovation and Entrepreneurship: Analyzing Elon Musk's Qualities and Challenges

Innovation and
entrepreneurship

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
Critically analyse any three main personal qualities that made Elon Musk a great entrepreneur
....................................................................................................................................................3
TASK 2............................................................................................................................................5
Critically analyse three entrepreneurial challenges in context to the selected organisation......5
TASK 3............................................................................................................................................7
Additional research to critically evaluate Elon Musk entrepreneurial performance and any
shortcoming................................................................................................................................7
CONCLUSION...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation is the most important skill or quality which should be possess by every
entrepreneur (Halpin, D.R. and Nownes, A.J., 2021). This is the most important tool of the
entrepreneurs which helps to generate new ideas and convert that into new products and services.
Entrepreneurship is the activities or action of individual, with their innovative and development
skills to create and extract values from the market by giving them huge beneficial services and
facility's. Elon Musk is successful entrepreneur and founder of the rocket company SpaceX. Elon
Musk is a business magnate, industrial designer and engineer. Product architect of Tesla, inc.,
founder of Boring company. In this report some specific quality of the selected entrepreneur is
going to be evaluate along with the analysis of challenges faced or facing by the entrepreneur is
going to be done on this report. Reshacr related to their investment and shortcoming is also
going to be conduct.
TASK 1
Critically analyse any three main personal qualities that made Elon Musk a great entrepreneur
Innovation- This is most important skill for business director's and entrepreneurs ,
which involves practical implementation of innovative and creative ideas in order to develop
new and unique products and services for customers and public (Bosman, L., (Online service),
2018). Elon Musk is consider as the most innovative entrepreneur, due to believe of Elon that
there is solution of every problem with the application of innovation. Problems is consider as
opportunities by Elon musk. Within the Elon musk business organisation there is regular
approach for new technology. Culture within the musk organisation is innovation which
motivate others to keep up with new changes and development. Elon Musk is an innovator, well
known for dramatic innovation by space technology and electric cars industries. In 2018 Elon
along with new company Boring made and underground tunnel, in order to facilitate electrical
cars to pass through that and reduce the travel time.
Impotence
 Innovation is important because it helps to take right action in revert of changing
environment.
 Helps to discover new opportunities