Business Leadership and Ethics
Table of Contents
Situation Description and Initial Judgmentâ€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦.3
Business Leader of Profiles of Elon Muskâ€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦.â€¦â€¦.5
Business leader Profile of Warren Buffettâ€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦.â€¦â€¦.7
Responsibilities of stakeholdersâ€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦..9
Situation Description and Initial Judgement
Investigate what occurred. Elon Musk and Warren Buffett are at loggerheads regarding the future of solar energy. Musk is the company’s creator and CEO. Tesla produces solar panels and electric vehicles. Berkshire Hathaway, whose portfolio of companies includes utility firms, is led by Buffett as CEO. Tesla CEO Elon Musk is seen defending his company’s participation in the solar power market in the video “Musk vs. Buffet, a solar war in the desert heats up” (Bloomberg Quicktake, 2016). He contends that solar energy is the energy source of the future and that Tesla is setting the standard for this sector. He also criticizes Berkshire Hathaway CEO Warren Buffett for investing in conventional energy businesses. According to Musk, Buffett is investing in the past, and solar energy is the way of the future.
Solar energy has received much support from Musk, who believes it is key to resolving the world’s energy issues. Solar energy has drawn criticism from Buffett, who claims it is not profitable. Over the past week, the two men have engaged in a verbal duel, with Musk labeling Buffett a “solar vampire” and Buffett responding with “dreamer” (Bloomberg Quicktake, 2016). The debate is tense, and Buffett and Musk seem committed to their stances. However, solar energy is a crucial issue for both men and the future of the globe, even though it is still being determined how this disagreement will be resolved.
Elon Musk is correct when he criticizes solar energy. It is a resource that can be renewed and whose production is getting more affordable and effective. In this sector, Tesla is at the forefront and will stay there. As for Musk’s critique of Buffett, I concur. Buffett is investing in the past, and solar energy is the way of the future.
Business Leader of Profiles of Elon Musk
Business tycoon Elon Musk is also an engineer and an industrial designer. He is the creator of SpaceX, its CEO, CTO, and chief designer. He was also an early investor in Tesla, Inc., its CEO, and its chief product architect. He also founded The Boring Company, co-founded Neuralink, and co-founded and served as the first co-chairman of OpenAI. One of the wealthiest persons in the world and a billionaire, Musk was born on June 28, 1971. Musk was raised in Pretoria, South Africa, where he was born to a Canadian mother and a South African father. Before relocating to Canada at 17 to enroll at Queen’s University, he temporarily attended the University of Pretoria (Musk & Easto, 2020). Two years later, he changed schools and enrolled in the University of Pennsylvania, where he graduated with a double bachelors in physics and economics. He traveled to California in 1995 to attend Stanford University, but he changed his mind and joined forces with his brother Kimbal to create Zip2, a web software company. Compaq purchased the startup in 1999 for $307 million. Musk co-founded the online bank X.com that same year; it merged with Confinity in 2000 to establish PayPal, which eBay later acquired for $1.5 billion in 2002. (Musk, 2009). From 2000 through 2008, Elon Musk was wed to Canadian author Justine Wilson. They have six boys collectively. In addition, he had two short-lived marriages, the first from 2013 to 2016, to English actress Talulah Riley.
SpaceX is an aircraft manufacturer and provider of space transportation services that Musk created in 2002. He serves as its CEO, CTO, and lead designer. He began working with electric vehicle producer Tesla Motors, Inc. (now Tesla, Inc.) in 2004 as chairman and product architect. In 2008, he was appointed CEO (Valentin, 2019). He participated in the creation of SolarCity, a Tesla subsidiary that provides solar energy services, in 2006. He co-founded OpenAI, a nonprofit research organization that supports benevolent artificial intelligence, in 2015. He established The Boring Startup, a tunnel-building business, and Neuralink, a neurotechnology company focusing on creating brain-computer interfaces, in 2016. Musk is a self-made millionaire who established SpaceX, PayPal, and Tesla Motors (Dumez, 2018). He has put out a novel mode of transportation that might completely alter how we travel and is currently working on creating the Hyperloop.
Elon Musk is well-known for his work in the business and technology sectors, but he also engages in various extracurricular pursuits. He is an ardent reader who reads two novels a week on average. He also has an interest in philosophy, science, and history. In addition to his job in business, he is active in several charitable projects (Aron, 2019). In addition to founding several charities, he has made financial contributions to several causes, including education, health care, and the environment. Additionally, he invests actively in several businesses and holds holdings in the technology, automotive, and aerospace sectors.
Business leader Profile of Warren Buffett
Warren Edward Buffett is an American business tycoon, philanthropist, and investor. He is regarded as one of the most successful investors in the world and, as of March 2020, had a net worth of more than $87 billion. Howard and Leila Buffett gave birth to Warren Edward Buffett on August 30, 1930, in Omaha, Nebraska (Kornilov & Kornilova, 2020). Leila Buffett worked as a homemaker, while Howard Buffett was a stockbroker and politician. Rose Hill Elementary School is where Warren Buffett first received his schooling. Later, while still a student at Woodrow Wilson High School, he delivered newspapers for The Washington Post (Andrews, 2019). After finishing high school, Buffett studied economics at the University of Pennsylvania’s Wharton School of Business. Buffett has had two marriages. Susan, his first wife, passed away in 2004. Three children were born to him and his second wife, Astrid.
Buffett returned to Omaha upon graduating from the Wharton School and started working for Buffett-Falk & Company, the business owned by his father. He started working for Graham-Newman Corporation, Benjamin Graham’s investing company, in 1954. After two years, Buffett created his investing partnership, Buffett Partnership, Ltd., and moved back to Omaha. When Buffett sold investors shares of his partnership in 1962, he amassed a million dollars. Buffett bought Berkshire Hathaway, a manufacturer of textiles, in 1965. He subsequently started purchasing firm shares, eventually rising to the position of chairman and CEO (Heyward, 2013). With a market value of over $500 billion, Berkshire Hathaway is one of the giant corporations in the world right now.
Buffett is regarded by many as one of the greatest investors in history. He is sometimes referred to as the “Oracle of Omaha,” and Forbes magazine has listed him as the third richest man in the world. With an estimated net worth of $88.9 billion as of 2019, Buffett would rank as the second-richest individual in the United States and the fourth-richest person in the world. Buffett’s approach to investing is to purchase inexpensive stocks and keep them long-term (Lowe, 2007). As an investor, he is renowned for his restraint and patience.
Despite being well-known for his work as an investor and philanthropist, Warren Buffett has a wide range of interests. He enjoys playing bridge and has even authored a book on it. In addition, he likes to play tennis and golf and supports the Nebraska Cornhuskers football team (Kzl, 2017). Buffett has an extensive collection of art in addition to his interests in sports and video games, stamps, and coins.
Responsibilities of stakeholders
There are many different ways to understand justice in the business sector. Making sure that everyone is treated fairly and has the equal opportunity is what some business leaders mean when they talk about justice. Others view justice as ensuring everyone receives what they are due, regardless of their situation. Warren Buffett and Elon Musk have pretty different ideas of what justice in the commercial world entails.
Due to their divergent perspectives on what fairness in the corporate world entails, it can be difficult to predict who would prevail in the conflict between Elon Musk and Warren Buffett. Musk appears to base his understanding of justice on Rawls’ principle of equal liberty. Because he thinks everyone should have an equal chance to profit from clean energy, he has the ambition to make Tesla a leader in the transition to a sustainable energy future. On the other hand, Buffett appears to base his understanding of justice on the concept of “desert.” According to this theory of justice, people should only receive what they deserve, regardless of their circumstances.
Warren Buffett and Elon Musk are both renowned businessmen, so it is difficult to predict who would win a fight between them. Nevertheless, it is essential to remember that although Buffett is recognized for his more conventional, value-based investing strategy, Musk has a history of invention and disruption. Musk might therefore be more prosperous as a result. Due to this difference in viewpoint, Musk has been successful in raising capital and expanding his enterprises, whereas Buffett has typically shied away from these kinds of businesses. If we take a more philosophical approach to the idea of fairness, it is evident that Musk has a stronger case. Musk believes corporate operations should be environmentally friendly (Muegge & Reid, 2019). His insight has helped Musk be more sustainable and develop a long-term strategy for his business. This enables him to make choices advantageous for the business’s financial line and the environment.
Additionally, by proving that his business is committed to sustainable methods, Musk’s opinion may help him win over investors. This helps convince prospective investors that the company is a reliable and safe investment. The viewpoint can also inform prospective investors about the value of environmental stewardship and the possible rewards of backing businesses that share this objective. Additionally, the opinion presents a favorable aspect to the clients. They have the impression that they are influencing a better future. Customers may be more inclined to support companies they believe are making efforts to protect the environment. Musk’s business philosophy can also persuade customers to embrace his company’s mission by appealing to their beliefs. This is because a sense of credibility and trust is established.
Musk’s stance on conducting business in an ecologically friendly manner can draw communities by igniting debate and discussion. Suppose Musk successfully runs his companies in an ecologically friendly manner. In that case, it will demonstrate to other companies that it is possible to simultaneously be successful and environmentally friendly. This might encourage more companies to follow in their footsteps, increasing the number of ecologically conscious communities. Climate change is currently causing the world to face several difficulties. The neighborhood is urged to lead efforts to protect the environment (Camillus, 2018). Suppose Musk is prepared to speak out about the value of environmental stewardship. In that case, it will help to increase awareness of the problem, motivate others to take action, and pave the way for a positive response to his products from the general public. Because they think he is earnest in his desire to improve the world, the community will be drawn to his business methods.
Environmentally conscious businesses draw employees interested in the environment to their goods and services. For instance, if Musk were to launch a new company selling eco-friendly goods, those who care about the environment would be more likely to purchase from him. Promoting the environment through business gets support from those who value the environment and promotion.
According to previous public observations, public perception can affect employee behavior. Events in the past have heightened employees’ desire to work for organizations that are excellent environmental stewards. Given Elon Musk’s stance on ethical, environmental behavior, it would be apparent to staff members that such behavior is rewarded. Since employees would be more likely to desire to work with them, this might provide businesses that prioritize environmental responsibility a competitive advantage. As a result, this might make it easier for these businesses to find and keep the finest employees, giving them an advantage in the corporate world and strengthening Musk.
The conflict between Musk and Buffett has only gotten worse with the release of the movie “musk Vs. Buffett, the solar war in the desert heats up.” While Buffett’s company, Berkshire Hathaway, has been making significant investments in conventional utilities, Musk’s company, SolarCity, has rapidly grown its solar panel business. The two businesses have been engaged in a public spat about the viability of solar energy for the past year, with Musk asserting that it is the future and Buffett arguing that it is not.
The Nevada Public Utility Commission agreed to authorize a rate increase for solar customers, making it more expensive for them to use solar power in reaction to a video in which two businessmen addressed the solar sector and the potential for solar power to disrupt the utility industry. Solar users will find it more challenging to compete with traditional utility customers due to the rate hike, and many of them are likely to return to using conventional energy sources. This significantly affects the solar sector, which is already having difficulty competing with conventional energy sources and may cause further industry consolidation. As a result, the increase in solar customer rates is expected to harm the business and may cause more industry consolidation.
However, publishing the “Musk vs. Buffett” video will probably hurt Nevada’s economy going forward. Investors and companies will probably be less inclined to want to conduct business in the state. The state’s budget could suffer significantly due to employment losses and a drop in tax revenue. In contrast, since there may be rivalry among the solar companies and Nevada’s pressure to take the lead in solar energy, the solar companies are likely to encounter much competition.
The three ideas of “justice,” “individual rights,” and “stakeholder responsibilities” helped foretell the outcome of the film because they are all crucial considerations when determining whether or not to invest in solar energy. Justice is the fairness of the investment and whether it is a wise use of the available funds. Individual rights are the legal entitlements of those impacted by the investment and whether or not they will be eligible to profit from it. Stakeholder responsibilities refer to the duties of the individuals investing and whether or not they are fulfilling their obligations to others impacted by it. Although it is still relatively new and carries many risks, the solar energy sector is expanding. Musk and Buffett both have solid views; however, it is evident that investing in solar energy is dangerous. When investing in this, it is crucial to consider each individual’s rights and obligations to stakeholders because so many individuals may be impacted.
In the clip Musk vs. Buffett: A Solar War in the Desert Heats Up, the two billionaire businessmen engage in a conflict about the future of solar energy. The solar battle in the desert may end with Musk defeating Buffett. This is because of various reasons, including that Musk is younger than Buffett and, as a result, has greater vigor and ambition to achieve. Buffett primarily focused on investing in conventional firms, while Musk has a track record of innovation and success across various industries. Furthermore, Musk needs access to more capital than Buffett does through his different businesses. Investment in solar energy requires creativity and vision.
I have learned a few things from this assignment. I discovered that Warren Buffett and Elon Musk are committed to their respective companies. Both have a high level of intelligence and expertise in their specialized fields. In addition, I discovered that solar energy is a renewable resource with much promise. Solar energy has some disadvantages, such as high installation and maintenance costs. As opposed to Buffet, who is more of a skeptic, I liked Musk since he strongly supports solar energy. I learned more about the moral issues surrounding solar energy development and investment. I discovered, in particular, that there are moral questions regarding the environmental effects of solar energy production and the effects on nearby populations when solar farms are constructed. I also discovered that certain solar energy companies’ business methods raise ethical questions. I discovered, for instance, that certain solar companies have been charged with unfair business tactics, such as pushy marketing and sales tactics, to get consumers to buy their products. Overall, I developed a better grasp of the moral issues surrounding solar energy development, which is essential knowledge for anyone considering a solar energy investment. I gained a variety of abilities through the job, including the capacity to do business in a way that is ethical and profitable.
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