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Actions taken by corporate leaders for technological innovations in the market place
Elon Musk leadership and Tesla's Innovations
Tesla is one of the most popular company in the world today in term of innovation, leadership and success. The company name induces very diverse yet equally solid reactions from criticizers and admirers. Opponents say that the company loses money on every car it sells and it is uncertain when Tesla will hit cost-effectiveness with their cars. Opponents also criticize the visionary CEO of Tesla, Elon Musk for overselling the company. The company has missed indicated aims and new automobile inauguration deadlines. However, the supporters disregard the short-term damages and argue that Tesla manufactures highly wanted electric automobiles. For example, vehicles that are fast and fuel efficient than all of the other electric automobiles, also they are much safer. It is also argued that within a week Tesla astonishingly reeled in approximately 400,000 pre-order bookings for its Model 3 that is supposed to get around 16 billion USD in sales (Forbes.com, 2019). A sole tweet of teasing a product proclamation from the CEO of the company, Elon Musk, surges the company’s share. This reveals how followed is the company leader. This is mainly because of how Elon Musk as a leader and CEO of the company has marketed the company and brought in tremendous technological innovations in the market place that has changed the market.
In 2015, it was the innovation superiority that brought Tesla on the top of "Forbes Most Innovative companies list." The company maintained its top spot in 2016 as well. Tesla is believed to be the catalyst behind renovating the automobile industry from ICE automobiles to electric automobiles (Forbes.com, 2019).
Tesla’s Innovative Leadership
Tesla’s ultimate possessions of its high innovation premium are leadership and innovation. The leadership of Elon Musk is surprising as well as skeptical to some. Doubters say that Elon Mush overpromises and rarely delivers on time. The skeptics are of the view because of the fact that the company failed to deliver its promises on 20 different projections in the past five years, such as car-manufacturing yield to monetary goals. Elon Musk gave a timeline for one of the company's product to suppliers but, Musk also acknowledged, that it is impossible to meet the deadline for the delivery of the product, but we need to give the precise date. Many people frame such projections or promises of Mush as his serious defect. It is perhaps what makes him a captivating leader of technological innovation in the market place. Elon Musk is said to be great at directing and binding his teams to do remarkable things that were outside what the crew even assumed was conceivable for them. The co-founder of Tesla JB Straubel says that if people are challenged to work hard, they accomplish more than they can assume they are capable enough to, and most of the leaders cannot do this (Forbes.com, 2019).
Musk's assurance of the unmanageable is complemented by his track record of providing the impracticable. Elon Musk as a leader pushes the company and his team to chase and realize unparalleled innovation in eccentric ways. For example, moving of one of the biggest stamping presses which the manufacturer was not able to deliver within few months as desired by Musk, Musk said we couldn't afford to wait, and we will find a way to do it within a couple of months. Musk was able to pull it off with the help of his team. The press was huge for the bridges and tunnels; therefore, they had to cut it off, modify and raise cranes so that the machine could be reconstructed and programmed. Tesla staffs, even the Vice presidents of the company gave time on the holidays to recoat the press in accordance with the Tesla colors that are red, grey and white. This shows the steps that the leader of the company is able to take and find new ways to get things done.
Sacrificing of personal time to realize the larger aim of the company or their leader is typical of Tesla teams, together with the leader Musk, who is known to move his sleeping bag and desk to the epicenter of the action so to be able to check in on work in progress. Musk drives the company and the teams to hit a high mark concerning business model innovation and product and the company’s innovation outcomes have been extraordinary.
Autonomous driving is the contemporary invention, and nearly all key vehicle manufacturing and tech corporations are now chasing self-driving technology. But only two companies are ahead of everyone, Google and Tesla; both of them are the original innovators. However, Tesla cars are not yet entirely self-directed; still, it is leading the race, and its Autopilot organism is the most cutting-edge currently. Elon Musk is ongoing with the integration and improvement of the technology centered on real-world facts and understanding as Tesla cars got operational. According to Musk, the company's motivations are not just autopilot driving experience or taking you to your destination, call your Tesla car from anywhere, and read, sleep or do anything else while moving towards your last stop. But also, the company is looking forward to constructing a mobile application such as Uber and "shared fleet" to make people able to make revenue while they are at not using their vehicles, resulting in significantly low the true cost of proprietorship and making the car a revenue creating an asset. Because of Elon Musk innovative steps in technological advancements and his leadership of cracking apparently unmanageable difficulties means that the objective of Tesla's becoming the unsurpassed company might, in fact, be conceivable.
Lessons from the leader
Tesla's CEO, Elon Musk and Tesla Motors are indissolubly associated, so much so that many believe it's the same entity. Elon Musk's followers, fascination and media attention truly makes the company stand out. All this glory and success of the company can be contributed most on the surface level at least, to Elon Musk's gritty and future-thinking outlook (Weick, Jain, 2014).
Musk is relentless and does not allow himself to be hindered by the obstacles that others are stopped by. For Musk, there will always be a solution and a discovery to be made. For any person or organization in the technological business, such an attitude must be embraced. The Tesla Company and its leadership make electric automobiles because it pays attention to a sustainable future and not just to profits or revenues which makes them stand out as well. The key motive for the existence of innovative companies or leadership must be to make things better, improve people's experiences, progress, etc., and success will follow.
Elon Musk’s persistent confidence and positivity that the things can be made better, advanced and more useful inspires him and drives his team. The lesson here is that if there the conviction that the future or things can be made better is what keeps the entrepreneurs and companies pushing the frontiers of innovations. For Musk, continuously innovating is the key to improving and making sure to generate feedback, listen to it and act on it, is of critical significance for any reformist organization.
Tesla's Innovations Are Transforming The Auto Industry. (2019). Forbes.com. Retrieved 9 March 2019, from https://www.forbes.com/sites/innovatorsdna/2016/08/24/teslas-innovations-are-transforming-the-auto-industry/#652acddf19f7
Weick, C. W., & Jain, R. K. (2014). Rethinking industrial research, development and innovation in the 21st century. Technology in Society, 39, 110-116.
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