Question

(200 words) Identify a significant career challenge Elon Musk faced and how he handled the challenge. Did his response align more with a managerial role or a leadership role

Answer 1

A significant career challenged that Elon Musk faced was when Tesla almost collapsed following the 2008 financial crisis. During the 2008 financial crisis the company’s Model S needed significant amount of cash for funding purpose. Elon Musk overcame this challenge by selecting to bankrupt himself rather than the company. By selecting to bankrupt himself Elon Musk chose to give up the money that he had earned from the roaring success of PayPal. At this time besides struggling to revive the company he was also battling personal problems in the form of divorce from his wife.

Elon Musk’s response aligns more with a leadership role. On the occasion of a crisis Elon Musk rose as a leader and put his own interests on the back burner to ensure that the company’s interests are met. His actions were systematically in sync with the vision that he had for his company and he was willing to make personal sacrifices to ensure that the goals and objectives of the company were met. More importantly he kept the interest of all internal and external stakeholders of the company much above his own personal interests and this is the defining characteristic of a true determined leader.

(Total = 200 words)