Personal Qualities of Elon Musk as an Entrepreneur

Innovation and
Entrepreneurship

Table of Contents
TASK 1...........................................................................................................................................3
Critically evaluation any three main personal qualities that made Elon Musk a great
entrepreneur in order to gain business opportunities presented through his lifetime.................3
TASK 2...........................................................................................................................................5
Critically discussing three entrepreneurial challenges that SpaceX will face with recent “Star
Ship” launch and vision of Elon Musk in establishing first self-sustainable city on planet
Mars............................................................................................................................................5
TASK 3...........................................................................................................................................7
Carrying out additional investigation to critically examine Elon Musk entrepreneurial
performance and any shortcoming during his investment in TESLA........................................7
........................................................................................................................................................9
REFERENCES..............................................................................................................................10

TASK 1
Critically evaluation any three main personal qualities that made Elon Musk a great entrepreneur
in order to gain business opportunities presented through his lifetime
Elon Musk is one of the successful South African-born American businessman's in the
world, he founded many organizations such as SpaceX, X.com, Tesla, etc (Snooks, 2020). His
personal qualities made him able to take the courage of taking challenges and grasping great
opportunities related to ventures. Elon Musk, which is one of the most successful entrepreneurs
in the world plays vital role by using his personal attributes that made him a great businessman
in order to grasp growth opportunities.
Personal influence-
It is one of those personal attributes that made many people capable to get respect from
others just like Elon Musk. He is a great influencer as he motivates all the staff members by
recognizing and appraising their hard work and contribution to achieve business aims and
objectives as well (Kunrath, Cash and Kleinsmann, 2020). Personal influence can be either
internal or external, extrinsic includes social interactions between many people such as a mother,
neighbour, etc. While internal personal influence happen when judgement are influenced by
mental procedures that have to do with other groups or individual person. For example, Elon
Musk has both kind of influencing power that made him a successful businessman, a great
leader and influencer, who has a million of followers in this world. Person influence is also
defined as power of individuals that made them able to control buying decision of others and
performance of other people. Elon Musk is becoming the most influential person in the whole
world, because he is motivated not by financial or commercial success, but by hope that his
performance will develop a brighter and much better future for humanity. Guided by a good
sense of personal values has allowed him to get great respect from family, staff, wider
community, etc.
Risk taker-
Risk taking is another personal quality of Elon Musk, which also contribute to made him
a successful entrepreneur. This attribute drive his attention towards managing risks or challenges
and gaining business growth opportunities that are accessible within automotive sector,
aerospace industry and other as well, where he has established his organizations (Terry, 2020).