Elon Musk, CEO of Tesla, X (formerly Twitter), and SpaceX, is listed as one of the most overrated CEOs in the US by their own peers. Not only him, but Bob Iger, CEO of Disney, is also considered to be one. Although it is only a subjective evaluation, it can be a useful opportunity to identify any useful insights and his leadership style that other leaders may follow or not.
His Characteristics as an Overrated CEO
Being overrated can be both good and bad. What makes him an overrated CEO? Here are some characteristics that he displayed:
Charismatic leadership
Musk’s leadership style is described as charismatic, implying that he possesses qualities that inspire admiration and followership among his peers and subordinates. He is seen as having a “gift of grace” that sets him apart from others and enables him to effect change in significant ways.
What to do instead: Be a charismatic leader with balance. A charismatic leader can seem to inspire and motivate others and look well-rounded on the surface, but they need to prioritize tasks over relationships, such as working towards goals, rather than focusing on relationships with team members.
Unrealistic goals
Musk is known for setting extremely ambitious goals, such as sending humans to Mars, but he can sometimes or usually fail to prove one, which is leading to skepticism about his ability to deliver on his promises.
What to do instead: Set achievable goals. Break down larger goals into smaller ones, have the right time frame, have careful planning, seek feedback and use SMART criteria for goals. Also, be open to feedback and be flexible to adjust goals according to circumstances.
No clear and measurable accomplishments
Despite being involved in various high-profile projects such as Tesla and SpaceX, Elon Musk is criticized for not delivering tangible results in a timely manner, leading to doubts about his effectiveness as a CEO.
What to do instead: Have clear objectives, set Key Performance Indicators (KPIs) and track progress. This is the way to produce clear, measurable results. When the result does not exceed expectations, adjust the proper strategies so that progress toward reaching goals will be continued.
Inconsistencies in statements
Musk’s shifting timelines and statements about projects like sending humans to Mars contribute to the perception that he is more focused on rhetoric and hype than concrete plans and actions.
What to do instead: Strive to maintain consistency in your statements and timelines to build trust and credibility among stakeholders. Be transparent about goals, timelines, and potential challenges, and avoid making promises or projections that cannot be reasonably met.
Constant Media Spotlight
Elon Musk and his style of leadership are frequently in the spotlight, indicating his significant public presence and the attention he attracts from the media and the general public. This is why it can sometimes cause controversial issues since it can form opinions in the public, such as the fact that he is currently being labeled as an overrated CEO.
What to do instead: Once someone is centered in the spotlight, it can be hard to avoid, unless they maintain a low profile and focus on business operations. Redirecting media attention towards company milestones and product launches could create a positive image for business reputations.
Overall, Elon Musk emerges as a charismatic and influential figure in the business world, known for his visionary leadership, innovative spirit, and ability to capture public attention. However, his leadership style is also marked by controversy and polarizing opinions, reflecting the complexities of his persona and impact. All of this, good or bad, has contributed to his being an overrated CEO.
