Innovation and Entrepreneurship: Personal Qualities of Elon Musk and Challenges Faced by SpaceX

This report analyzes the personal qualities of Elon Musk as an entrepreneur and the challenges faced by SpaceX in the field of innovation and entrepreneurship. It discusses Musk's work ethics, risk tolerance, and passion for innovation. It also examines the challenges of weak enterprise profitability, military market access, and oversized capital requirements faced by SpaceX. The report evaluates the entrepreneurial challenges and shortcomings in investments and highlights the growth and success of Tesla under Musk's leadership.

Innovation and
Entrepreneurship

Table of Content
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
Three personal qualities Elon Musk possess as entrepreneur....................................................4
TASK 2............................................................................................................................................5
Three entrepreneurial challenges Elon Musk SpaceX Venture faces.........................................5
TASK 3............................................................................................................................................7
Evaluation of entrepreneurial challenges and shortcomings in investments..............................7
CONCLSUION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation and entrepreneurship can be understood as widely crucial aspect which has
shaped global best brands, where entrepreneurs in today’s fast pacing world are widely
innovative to bring on diverse products. Innovative business ideas among entrepreneurs
successfully shape up functional scope for technical advancement, keen rise towards new goal
oriented businesses which develops professional commercial success. The report will be
analysing Elon Musk Entrepreneur, whose ideologies and new functional skills in
entrepreneurship has been shaping varied range of diverse horizons towards varied competitive
domains. Study will be analysing focus towards personal qualities which are possess in Elon
Musk and challenges faced by Space X launch for bringing on keen parameters in structural
efficacy. The report further will discuss entrepreneurial skills possess in Elon Musk for
launching Tesla and varied challenges which have shaped fundamental scale growth towards
bringing high return from investments actively .
TASK 1
Three personal qualities Elon Musk possess as entrepreneur
Elon musk as one of the great entrepreneur possess high scale work ethics and skills
profoundly making him highly successful in all the ventures, achievable with breakthrough
benchmarks of innovative business goals. The characteristics and personal qualities of Elon
Musk can be discussed as follows (Elon Musk- the Complete Journey of a Visionary
Entrepreneur, 2017).
Insane work ethics: Elon musk is hard working innovator, working for about 100 hours a week
for bringing on innovative business efficacy in longer time frame and also technical innovation
which has fuelled investments successfully. The passion and creative energy with which Elon
Musk works has been profoundly known to be one of the best fundamental skill in entrepreneur
competently making him a successful vision achiever. His investments are insanely work

oriented with expertise and commercial acumen, profoundly making entrepreneur one of the
greatest achiever on long term scale growth operational paradigms. The targeted exceeding
challenging obstacles which have new range of success parameters are some of the most
essential aspects, where Elon Musk has been actively heading focus. TESLA success can be
analysed as one of the best aspect where competent efficacy domains in Elon Musk passion has
been raising functional growth. There is wide scale focus on long term vision oriented growth
towards competitive benchmarks, where smart work ethics of Elon Musk has actively developed
success in brand value globally.
Strong risk tolerance: Elon Musk has strong risk tolerance quality which is indeed one of the
most essential strength demanded among business competitive market, where his all time
learning skill has been also excelling growth (Lei, 2021). There are varied aspects where his risk
taking style and understanding towards uncertain business venture, has led to consistent
functional efficacy towards bringing consistent success in all ideas. Musk has taken great risk by
investing millions of dollars to found PayPal, Tesla which are his most successful ventures.
Space x founded in 2002 by Elon Musk has been found to be one of the best investment done in
business, which reduces space transportation costs actively. Brand promises quality services to
all clients globally making it one of the most productive aspect, for competent efficacy horizons
and optimistically expand towards untapped paradigms. The strong risk tolerance factor is one of
the key strength in his personality where ideologies to shape productive diversity, excelling
change among workforce has been found as most prominent. Risk factor within investments in
Space X have been effectively
Passion for innovation: With strong positive energy and zeal for creative learning, Elon Musk is
one of the most passionate entrepreneur whose ideologies to create fundamental innovation has
been imperatively growing. The entrepreneur has high passion for innovation towards varied
horizon, where technical innovation developed in companies of Tesla, PayPal has been bringing
on best returns. This can be understood that Elon Musk has dynamic passion for innovation,
which he puts in bringing stringent motivation among team members and to ideally bring on
wider scale operative goals completed. Entrepreneur vision, innovation for strategic
fundamental growth towards untapped business parameters in expanding businesses have been
found to be widely growing among new horizons. Innovative business goals have shaped
fundamental scale growth towards varied effective parameters to keep yielding advanced focus

on expanded commercial revenue targets. Elon Musk passion is ideally the profound factor
which has shaped success among all his investments informatively, to yield on competent
productive diversity within teams and lead change for consistent efficacy (Jones, Maas and
Lloyd Reason, 2021).
The above factor have in detail analysed personal qualities of Elon Musk as one of the
most successful entrepreneur, vision oriented leader whose motivation to bring on dynamic
change has led to huge success.
TASK 2
Three entrepreneurial challenges Elon Musk SpaceX Venture faces
There are varied entrepreneurial challenges which Elon Musk Space X venture faces for
bringing on competent fundamental scale operative goal in shape, also to head on focus towards
keeping affirmative targets at frame. Space X was formed by entrepreneur Elon Musk to
revolutionize aerospace industry and making affordable space flight reality, where company aims
to be functionally innovative towards varied paradigms. The company transformed commercial
space market, where Elon Musk long term leadership vision to bring on cost effective launching
services has shaped strength within. Space X has accomplished feats of innovation, which no
commercial company has achieved in past competitively, and also there are large scenarios
attached harnessing long term innovation (SpaceX’s very big year: A 2020 filled with astronaut
launches, Star ship tests and more, 2020). Weak enterprise profitability: Space X strategy has been to dominate launch market by
offering lower prices than any competitors, which has been strongly shaping competent
challenges. SPACE X investments have been found to be at risk also due to weak
enterprise profitability parameters, where investments done by Elon Musk has been
increasingly facing challenges. The financial burden in Space x investments plans are out
of sync, with ability to raise necessary capital in return which has been identified as main
aspect yielding on productive push. Commercial market stagnation is also correlated
which impacts company enterprise profitability, where initial failures with bringing on
commercial funds and higher financial support has been impacting. Global market for
commercial space is not big where there are varied factors impacting business efficacies
actively, to create functional scale innovation successfully within diverse horizons. This

came in as strong challenge for company growth, where uncertain business risk have
been impactful to bring on varied growth factor. Failure with rocket launches have been
significantly impacting Elon Musk investment decisions to keep up with strategic
planning on wider horizons (Lepel and et.al, 2021). Military market access: US air force which manages national security space programs
has recently raised functional scale competitiveness for Space X, where recent plans with
bringing on military market had raised barriers. It can be also analysed that military
market accesses also has been raising functional scope for project to be successful, which
leverages higher efficacy horizons. Within this challenge Elon Musk foresighted vision,
advanced usage of keeping up with benchmarks enabled company to cope up with
failures. Passion and determination also fuelled up growth synergies in brand to keep up
with targets in businesses, face challenges effectively and also potentially bring on
productive growth towards long term stability. Military market access has been analysed
to be crucially one of the most effective challenge, where Space X faces wide range of
complications (Freiberg, 2021).
 Oversized capital requirements: It requires all sorts of costly equipment’s and advanced
technologies that space X has invested in, starting with big successor to Falcon 9 launch
vehicles. Company faced this issue due to competent high scale investments which are at
risk and also varied fundamental launches which faced various challenges. Risks are hard
to quantify as huge, other companies being far greater in greater resources bring on
varied scale operative functional horizons shaping quest goals informatively (Secondo,
Giaconda and et.al, 2021). The risks are hard to quantify, but huge – so huge that other
companies with far greater resources have elected not to pursue such a project. If Space X
were generating the kinds of returns typically associated with a successful tech company,
the financial burden might be bearable. But it seems that Space X’s investment plans are
out of sync with the company’s ability to raise the necessary capital. This also comes in
as one of the most crucial challenge where Elon Musk to take fundamental decisions with
his leadership styles have been actively growing.
Elon Musk beliefs that human needs to become multi-planetary species, where
entrepreneur possess vision to form sustainable city on Mars, which will avoid extinction
confined to earth. The main aim is to figure out improvement in cost of trips to Mars by

decreasing cost to around $200,000, where challenges of re-usability and refuelling spacecraft in
Mars comes in. Space X aims to establish Maritain civilization as his vision for company,
regardless of time factor. There are tens of millions investments done by company, where there
have been rapid fundamental risk involved in brand to synchronize returns (Faze, 2021).
TASK 3
Evaluation of entrepreneurial challenges and shortcomings in investments
Elon Musk entrepreneurial performance has been competently shaping his investments in
various companies to high scale success benchmarks, in which Tesla is one of the best brand
within auto mobiles industry. TESLA has most luxury modern advanced cares in today’s world,
which has high rise in competition parameters, under leadership of Elon Musk. Entrepreneurial
skills such as high scale commercial expertise and new range of innovative business ideas for
keeping up with long term revenue goals. Musk never ending passion, high scale commercial
expertise knowledge for strategic direction has shaped professional growth integrity for technical
innovation. Tesla offers wide range of products such as electric cars, battery energy storage,
solar panels and solar roof tiles with offering premium quality services to customer target
markets globally (Zheng, 2021). Entrepreneurial functional growth horizons in skills of Elon
Musk brings on dynamic strength under brand development, which significantly explains wide
scale strengths in vision. The leaders possess strong work ethics towards direction oriented goals,
where his investments has been always demand oriented as per competitive business scenarios.
Tesla has been emerging as changing face of electronic vehicles, where fundamental competition
in performance domain have been also fuelling growth.
However there are some shortcomings analysed from initial investments in Tesla, where various
aspects can be analysed by also emphasizing towards Elon Musk skill (Elon Musk admits Tesla
has quality problems, 2021).
 Elon Musk faced financial crisis in 2008, where company had collapsed due to financial
risks, where money earned from further investments have been fuelling competent focus.
Tesla cars are also expensive which comes in as barrier, where tax barriers and high cost
for customers will hinder wider customer reach effectively. The brand also faces risks
form low gas prices and rise in electronic cars' competition, also with high scale
competitive market among auto-mobiles. It can be understood that entrepreneur risk

taking strength has been found to be fundamentally shaping investments done in
businesses, where Tesla is best growing brand. The shortcomings of investments has been
ideally impacting varied range of growth goals, for strengthening new range of
competitive scale domains (Lounge, 2021). This can be also analysed as essential aspect
where Elon Musk ideologies to keep up with new range of informative scope has been
widely successful, which has also enhanced willpower among team members which
further empowers new range of efficacy domains.
 Tesla aims for achieving the best electric vehicle car as one of the best manufacturing
brand in auto-mobiles industry at global level; where high scale competition brings on
wide challenging situation. It can be also analysed that Tesla faces extensive competition
form external rise in competition, new scale informative growth towards auto mobiles
demands among customers. Elon Musk skills and vision for bringing on informative
working parameter has been competently shaping business efficacies within company for
bringing on profound growth. The leader has used his vision oriented motivation to
create confident teams, higher level working skills and new range of innovation which
has fuelled up brand growth. This factor also explains that Tesla aims for consistent
diversification in technologies, with wide range of competent scope paradigms enhancing
new range of revenue targets. It can be also analysed as there has been consistent growth
analysed towards functional scope in future range of business operations, which further
brings on varied brand goodwill goals.
 Tesla aims for keeping working innovation stringently active for yielding on raised up
functional scope for stringent horizons, on which brand aims for consistent functional
growth towards untapped domains actively. This factor also addresses focus on varied
scale parameters, to yield towards dynamic new scale competitive business environment
which raises functional scope actively. Tesla aims to further use the best methodologies
in shaping technology within auto mobiles, ranging within demand of future where
electronic cars are shaping businesses actively. It can be understood that Elon Musk
functional scope for building new pathways of innovative ideas has been positively
shaping fundamental scale operations. The visionary leader is known for competent
diversity within working horizons, higher scale functional scope which strengthens brand
value. This aspect of shaping new ideas actively has been fuelling diversification actively

among varied horizons, to keep up functional benchmarks at frame and to keep up with
yielding parameters. This aspect has been ideally analysed as one of the main crucial skill
within entrepreneur, where passion and willpower to bring on new ideas have been
keenly raising wider quest operational scope (3 Main Challenges That Tesla Faces,
2020).
The above analysed challenges within Tesla business operations have been shaping new range of
profound growth in skills, and talents among team members within teams which shapes up new
scale revenue targets. Tesla entrepreneur Elon Musk has best work ethics, creative productive
diversity towards new range of efficacy goals which bring on productive commitment among
employees. There has been productive growth developed towards new scale business horizons, in
Tesla automobile designs which further keep up with benchmarks and also yield towards
productive smart growth.
CONCLSUION
From the above analysed report it has been concluded that Elon Musk is one of the best
entrepreneur whose vision and ideologies towards functional innovation has been shaping
success domains actively. Elon Musk personal qualities such as foresighted vision, high risk
taking potentiality and passion for innovation has shaped brand value into wide scale competent
surging pace. The study has concluded Space X challenges such as higher investments at risk,
lather failure risks and commercial market challenges, as some of the crucial challenges faced by
company. Report also concluded further entrepreneurial skills, high range of innovation and
competent functional scale goals which has developed Elon Musk strengths, to keep up with best
fundamental scope horizons towards untapped business decisions. Study has concluded Tesla
success as one of the best automobile brand comes in as one of the key factor where Elon Musk
has been excelling towards new horizons of profitable targets. Tesla and Space X are some of the
best investments taken by company, to bring on new range of innovative business designs, higher
scale performance domains towards competent efficacy horizons.

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