Richmond University ENT 6800: Elon Musk's Entrepreneurial Performance

This report provides a comprehensive analysis of Elon Musk's entrepreneurial journey, focusing on his key personal qualities, the challenges faced by SpaceX, and his investment performance, particularly in Tesla. The report begins by identifying and critically evaluating three main personal qualities that have contributed to Musk's success as an entrepreneur, supported by theoretical frameworks and research. It then delves into three significant entrepreneurial challenges that SpaceX faces, examining their impacts and potential solutions. Finally, the report investigates Musk's entrepreneurial performance in Tesla, assessing his investment strategies, innovative approaches, and the company's current position, impacts, and future target markets. The analysis incorporates research, statistical data, and critical evaluations to offer a well-rounded understanding of Musk's entrepreneurial endeavors.

Innovation and
Entrepreneurship

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Main personal qualities of Elon Musk as a great entrepreneur:..................................................1
Main challenges that Elon Musk face in SpaceX venture will face with the recent Star ship
and the establishment of Vision:.................................................................................................2
Critically evaluate the performance of Elon Musk during the investment in the business
venture:........................................................................................................................................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Entrepreneurship and innovation increasingly important for all business area and their
growth in market(Belitski, 2019). Entrepreneurial refer to the creation and extraction of value of
entrepreneur is the individual that develop and increase the level of effectiveness in the market
and increase the level of change and innovation in the market. Entrepreneur increase the level of
change in the market with the innovation and new ideas and creations. Innovation helps the
business to increase the level of effectiveness in the business and provide customers different
rang of product and services. This report is based on Elon Musk; he is entrepreneur and founder
of SpaceX, early investor, CEO and product architect of Tesla. Also he is founder of the boring
company. Elon Musk is one of the richest men in the world. This report includes information
about various qualities of Elon Musk as a great entrepreneur in order to grasp business
opportunity. This also includes various challenges that Elon Musk face with the recent Starship.
In the last it includes performance of Elon Musk during the investment in short term investment.
MAIN BODY
Main personal qualities of Elon Musk as a great entrepreneur:
Elon Musk is great entrepreneur and give innovation and development in the business
with the new ideas and thoughts that help him to become more successful business person in the
industry (Cai, 2020). Personal qualities of Elon Musk increase the level of efficacy in the start
up and entrepreneurship. Below are various qualities of Elon Musk as a great entrepreneur that
helped in better growth and effectiveness business.
Entrepreneurial spirit: One of the best quality that Elon Musk has is to focused on the
effective management of innovativeness and business so that he can achieve various goals and
objectives. His entrepreneurial sprite helps him to gain effective outcomes and increase the
career options in the market. Entrepreneurial sprite helps in overcoming form the disappointment
and failure it builds better confidence level of the person (Guerrero, and Urbano, 2019). Musk
face various challenges such as mechanical failures in his Tesla company to rockets crashing,
also SpaceX also went bankrupt. However Musk make remarkable impacts on the world by his
never give up attitude and its increase efficiency and growth of his brands in the market. He
always focused on the new innovation and invention in the business so that they can increase the
level of effectiveness in the business and increase growth of the start-ups.
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Strong risk tolerance: Elon Musk is the leader who is always ready to take risk and increase the
level of efficiency in the business. Being in the various start-ups he always ready to take risk and
innovate something new that can helps his career path to grow and increase the level of success
in the market. He faces various challenges and risk during the path of success and growth in the
market. Being an effective entrepreneur in the world he always focus on the problem solving
rather than just starting a business and it helps him to gain better growth and success in the
market. Also sating of new businesses in the market increase the risk of uncertainty and it
became challenge for the business of Musk but with the effective strategy and confidence level
he gain competitive advantages. He gains competitive advantages from the better growth and
effective working capabilities.
Passion For innovation: Making innovation in the business is main motive of the Musk, he
always ready for the change in the business according to needs and demand of current market
situation(Hsieh, and Wu, 2019). He always attracted his customers by the innovativeness in the
business and product he offers to the customers. He focused on the effectiveness in the every
product or service he provide in the business to gain better success and effective level of
profitability. He increases the level of effective in the business by creative ideas and thoughts
that effectively help in the attraction of new customers and growth in the market.
Thus, from the above discussion its can understand that Elon musk has various qualities in his
personality that helps in better growth and effectiveness in the business. He has various
personality traits that assist him in better development of innovation and invention in the market.
It also enhances the growth of business in the market.
Main challenges that Elon Musk face in SpaceX venture will face with the recent Star ship and
the establishment of Vision:
There are various challenges that Elon Musk faces during the start-up of SpaceX venture, that
increase the level of issues and challenges. No doubt SpaceX is a pioneer, but there are always
down fall in the business that every leader has to face. Below are various challenges that Elon
Musk face in order to gain venture will face in the start ship.
Commercial market payment: The global market for the commercial lunch is not big;
there are various factors that impact the level of business growth in the market. SpaceX has come
to dominate the market by the offering various cut prices for placing communication satellites in
geosynchronous orbit. Because of the match of the rotation of planets orbit enables them to
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remain above the specific point of earth and its surface. Although, they are travelling through at
thousands of miles per hour(Landström, and Harirchi, 2018). However the SpaceX claimed that
nearly half of market in space is having demand of satcom launches. But there is huge loss of
lower demand in the space market after the launch of Arianespace because of huge level of
competition in the market and effectiveness of business. SpaceX launch the biggest competitor in
the commercial market that have an impact on the level of performance and growth of business.
Lower demand is widely view as new normal so that its business can effectively increase the
customer base and growth. Thus, SpaceX deal with the various challenges with the launch of
business. It has an impact on the business decision making and effectiveness in the market.
Military market access: As the US air force which manage and maintain national
security space programs recently awarded the development contracts for the new generation of
launch of vehicles. There were four competitors where only SpaceX didn’t get the award and it
was biggest disappointment for the company and Elon Musk. He struggled year to get in the
military launch and get the certificate for SpaceX workhorse Falcon 9 rocket. It seems like the
air force is not satisfied by the launch of Falcon 9 rocket and it plan and offers. This become
challenge for the company to make impact on the other competitors and increase the efficiency
of their rocket launch in the market. To deal with this challenge Elon focused on the launch of
second phase to increase the level of effectiveness and growth in the market. This can help the
business and its growth in the market. Also the second phase can increase the level of
effectiveness in the services and air force and its image in the market. This make an impact on
the level of effectiveness and innovativeness in the market and increase the level of growth of
the company.
Weak enterprise profitability: According to the NASA the safety review of the
company’s internal storage has an impact on the level of safety and security in the space. The
level of enterprise Elon Musk faces challenge in achievement of effective probability by the
business of spaceX. The company has revealed that last month privately generate about 2.5
billion in revenues annually and in months ending in September it produced 270 million earnings
before interest, tax, depreciation. However, The boomerang account of Depts placement noted
that company has included various prepayment by the customers that has impact on the
expenditures and its calculation. Without those calculations company would have sustained loss
in the market also the launch of SpaceX market offerings as a lower price that increase the level
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of thin margins. This factor affects the probability of Business and its growth in the market.
However, if company is not able to generate margin during the peak years it will be difficult for
its business to continue its growth in the market. But Elon Musk says that SpaceX isn’t about
making profit and money it’s about going marks but then Being Human final exchange and set
satellites on the space. This is become remarkable point of view of Elon Musk that increases its
brand image in the market.
Oversized capital requirements: Going to the Mars is expensive and cost effective for the
company and is its operation. it’s all required costly equipment that currently doesn’t exists in
the market and it became the challenge for the company to launch various equipment that help
to develop a super having star shape in the market but it also increase the level of competition in
the market meanwhile company(Pisoni, and Renouard, 2019). Mark on the plan of orbit 7500
small satellites in the consolation providing the billboards Internet service pretty much anywhere
on the earth. However, it could be a great opportunity for the bridge business to launch Arena but
in the near terms demands lots of investment and funding that could be a challenge for the
investors. The market risk which would be high there is a use risk in the launch of different
satellites in their generation typically associated with a successful Tech company. This could
impact the space SpaceX projects and this could impact the plan of Elon Musk and explain drive.
Thus, from the above information it can be understand that there are various challenges
that Elon Musk could face during the launch of SpaceX satellites. That impact the decision
making and its launch in the market also it impact the level of effectiveness among the
competitor in the space market. Also company face use challenge to ensure security of satellites
in the space also company faced challenge by Air Force in order to prevent them various offers
of satellites and SpaceX products.
Critically evaluate the performance of Elon Musk during the investment in the business venture:
Elon Musk is a great entrepreneur that effectively invests in various businesses and
increase the level of effectiveness in those. He focused on the effectiveness and growth of the
company with the effective investment(Ratten, 2019). It helps in better growth and effective
level of success in the market. The launch of the company begins with the huge investment so
that it can achieve growth in the market and effective level of profitability. Below is the
evaluation of the performance of Elon Musk during the investment in the Tesla Motors:
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Although Musk was not the founding member of Tesla, but he lead early round of
financing in 2004. With the use of effective strategy in the business Musk focused on the better
growth and development of business in the market. Elon Musk focused on the stock based
compensation accounted for a $1.7 billion hit to the Tesla’s bottom last year. The company make
highly stock available for the customers with the investment. Musk was focused on the low cost
investment in the company by the range of effective business growth and level of employee
contribution. Tesla had many option in the market to enhance the level of customer base and
growth in order to gain effectiveness in the market. Musk was the multi taker he make many
investments in the various business with the use of effectiveness in the market and its growth in
the business.
The positive practices that have incentive in the growth, and achievement of successful
business plan and growth in the market(Schuelke-Leech, and Blanchard, 2019). While the
investment of the Tesla Musk has focused on the market rate of competitive cars brands and their
reflective strategy in order to attract the customers and increase the level of customers base in the
market. Musk has invested a staggering $1.5 billion as a form of Bitcoin, Elon Musk focused in
the development of tesla as accepting of bitcoin as a form of payment so that customer can find it
attractive and increase the level of customer base in the market.
This give Tesla shareholders exposure to popular to currency increase the level of stack
value of Tesla over $47 billion and increase the fifth largest institutional. Stakeholder in Tesla
with 2.8 % equity stake worth $22 billion Tesla is owning the size of share and capital market is
major business in server popular stock indicates attracting huge amount of funds and inflows.
Tesla become sixth largest stock by wastage on market US index Bitcoin strategy of Elon Musk
increase the level of tesla’s market and provide it use success in the 7th largest company buy US
market capitalisation with the worth of 73 billion in US. It was huge growth of Tesla in the
market and it increased the level of efficiency of its growth and effective performance with the
effective investment performance. Elon Musk create it history of Tesla in the US market and
increase its capital share.
Thus, from the above discussion it can be understand that effective investment
performance helps Elon Musk to increase capital share of Tesla in the market and gain growth
and profitability in US Tesla become 7th largest company in US by market capitalisation and
increase its success in the business. With the enhancement of the business Elon Focused on the
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growth and development of effective market performance and growth. This helps in Increase the
level of market share of Tesla and increase the level of proficiency in the market. Better growth
in the market increase the level of capital share and stockholders funds and it helped in better
growth and proficiency in the market. Effective performance and growth helps in better success
and achievement of gaols and objectives
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CONCLUSION
From the above information it can be conclude that there are various factors of the
entrepreneurship and innovation that helps in the development and growth of the country and
business venture. Elon Musk is a great entrepreneur that focused on the effectiveness and growth
of the business in order to gain effective productivity and growth in the market. Elon Musk has
main quality of entrepreneurial spirit in the business that increases the level of effectiveness and
growth in the business. Innovation and creation help him to become one of the successful
entrepreneur in the world. He always has positive energy that helped him to increase the level of
effectiveness and growth in the market. Also Musk face various challenges in the
entrepreneurship career that have an impact in the decision making process. Also in the
investment process Elon Musk perform in effective manner so that it can increase the level of
effectiveness and growth in the business.
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REFERENCES
Books and Journals
Belitski, M., 2019. Innovation in Schumpeterian-type firms: Knowledge collaboration or
knowledge spillover?. Foundations and Trends® in Entrepreneurship, 15(3-4), pp.368-
390.
Cai, Y., 2020. ‘Innovation in Innovation’: A Review of Henry Etzkowitz and Chunyan Zhou,
The Triple Helix: University–Industry–Government Innovation and Entrepreneurship.
Guerrero, M. and Urbano, D., 2019. A research agenda for entrepreneurship and innovation: the
role of entrepreneurial universities. In A Research Agenda for Entrepreneurship and
Innovation. Edward Elgar Publishing.
Hsieh, Y.J. and Wu, Y.J., 2019. Entrepreneurship through the platform strategy in the digital era:
Insights and research opportunities. Computers in Human Behavior, 95, pp.315-323.
Landström, H. and Harirchi, G., 2018. The social structure of entrepreneurship as a scientific
field. Research Policy, 47(3), pp.650-662.
Pisoni, G. and Renouard, F., 2019, November. Integrating online education in Innovation and
Entrepreneurship (I&E) Doctoral training program. In 2019 17th International
Conference on Emerging eLearning Technologies and Applications (ICETA) (pp. 633-
638). IEEE.
Ratten, V. ed., 2019. Entrepreneurship and the Community: A Multidisciplinary Perspective on
Creativity, Social Challenges, and Business. Springer Nature.
Schuelke-Leech, B.A. and Blanchard, J., 2018. Incorporating innovation and entrepreneurship in
STEM programs: The challenges of universities as engines of economic growth.
In Controversies on campus: Debating the issues confronting American universities in
the 21st century (p. 319). ABC-CLIO.
Singh, S.K. and Gaur, S.S., 2018. Entrepreneurship and innovation management in emerging
economies. Management Decision.
Sun, D., Li, S. and Xu, X., 2020. Wenqi, S.U.N., Changyu, M.E.N.G. and Wenjian, W.A.N.G.,
2020.Analysis of reform and development strategies of China’s Internet innovation and
entrepreneurship education. Entrepreneurship Education, 3(1), pp.77-93.
Zhamoitsina, D.S. and Chakhoyan, A.O., 2018. THE ROLE OF AN INNOVATION IN
ENTREPRENEURSHIP AND BUSINESS. Вестник молодых ученых Санкт-
Петербургского государственного университета технологии и дизайна, (4),
pp.479-484.
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