In November 2017, his net worth briefly surpassed that of Larry Page and Sergey Brin (individually) ranking him the ninth richest man in the world, and the first citizen from China to enter Forbes' top 10 richest list,[20][21][22][23] though the net worth of Page and of Brin have each since eclipsed that of Ma. In. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. Ma changed the softwares name to QQ in December 2000. (with Q and QQ used to stand for the word cute). Satya Nadella is a leader on the risefor the last five years, he's served as the CEO of Microsoft, quickly earning a name for himself in the world beyond tech. Innovation has nothing to do with how many R&D dollars you have. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. Huateng is the chairman, founder, and CEO of Asia's most valuable company and also one of the largest internets and technology companies across the globe Tencent. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. Over the last four decades, Apple has been involved and played a leading role in a number of disruptive and revolutionary innovations. Explore the Think at London Business School Hub. He was born in 50 years old as of 29 October 2021. Here's a countdown of the 20 richest people on the planet by net worth as of spring 2022, as well as a look at who was bounced from Forbes' 2021 list. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. We hope you enjoy our thought leadership. [31] Inspired by the idea, Ma and his team launched in February 1999 a similar software, with a Chinese interface and a slightly different name OICQ (or, Open ICQ). Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. Twitter: @BiographyScoop Ma's leadership style changed from transactional leadership to transformational leadership. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was cofounder and CEO (1998- ) of Tencent Holdings Ltd., one of the world's largest Internet companies. Ma Huateng November 30 2022 Review Non-Fiction Influence Empire can Tencent negotiate China's shifting political winds? They usually miss the future. It was a revolution. Bill Gates, Mark Zuckerberg. Tencent launched its own portal (QQ.com) in 2003 and entered the online games sector. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. Regarding the second attribute of visionary leadership [18], which is supporting organized learning and growth within the organization, Jobs spoke eloquently about its importance, from his own point of view: The people who are doing the work are the moving force behind the Macintosh. Unlike other studies [1, 2, 3, 30, 31, 32], the presented multi-case study focuses on a very specific business context: that of the creation of exceptionally successful firms such as Apple, Google, Facebook, or Tencent. After giving a quick review of state-of-the-art of the leadership research and theories [1], this chapter shortlists, briefly explains, and finally analyzes the candidate frameworks and chooses the apparently most suitable one. During the 2014 Chinese Lunar New Year celebrations, Tencent built on the ancient custom of giving red envelopes lled with money to boost trac on WeChats mobile payments platform. He is married to Wang Dan-ting. Nationality Chinese. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. Changing a product in ight is tough. Tencents third source of revenue is an ecosystem built around its one billion users. "[41], Ma uses the nickname Pony, derived from the English translation of his family name Ma (), which means "horse. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. The original term transformational already implies the existence of some entity that experiences transformation, and it is not so suitable in the context of completely new startups [7, 19]. https://www.britannica.com/biography/Ma-Huateng. Hum. As the most popular industries in Shenzhen . [19] Ma Huateng ranks fourth in the list of Forbes's China's 100 Richest, with a net worth of US$23.4 billion in December 2022. He is said to own property in Hong Kong as well as art worth $150 million. The four models that were considered potentially suitable for a context of disruptive successtransformational, charismatic, entrepreneurial, and visionaryunderwent a further scrutiny in order to determine which one would better suit the context of disruptive success, as it is briefly described in the next paragraph. Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. Within 2weeks, half of the students had signed up [74]. Jack Ma Loses His $3 Billion Gain As Investors Worry About Alibabas Growth Outlook, Elusive Chinese Billionaire Jack Ma Spotted In Australia, Report Says, Get Away To Dominica For Mas Dominik Carnival Festival, Billionaire Jack Ma Reportedly Visits Hong Kong As Regulatory Pressure Eases In Mainland China, Jack Mas Ant Group Gets Regulatory Nod For $1.5 Billion Capital Increase Plan, Daily Dozen | Forbes: Nevada Sustains Lucky Streak; $50M Walmart Lawsuit; Jack Ma Resurfaces, Elusive Chinese Billionaire Jack Ma Living In Tokyo, Report Says, China Wealth Creation: New Realities In 2022, Wealthy Chinese Lead Home Purchases In Singapore, Sending Prices Soaring, Asias Former Richest Woman Sees Wealth Demolished By Chinas Property Woes, Alibabas Jack Ma Stays At No. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. He gives importance to the ideas and strategies given by his employees. Several quotes from Larry Page that highlight his visionary skills are as follows: On being an inspirator: What is the one-sentence summary of how you change the world? BAT Baidu, Alibaba and Tencent are Chinas power gang. Yet, Chinese business leaders including Jack Ma (Alibaba), Lei Jun (Xiaomi), Ma Huateng (Tencent) and Wang Jianlin (Wanda) have successfully reversed the prevailing cultural prejudice. Multiple theorical and practical studies indicate that the longitudinal multi-case approach is the best one in terms of properly investigating the results of qualitative inputs [23, 24, 25, 26, 27, 28]. Opps.. Something goes wrong. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. As of January 2021, Ma is worth $46.8 billion which places him . He wanted, simply, to create excellent products and have the co-founders see a return on their investment: I focused on product and Tony Zhang focused on technology. Tencent is the collective answer to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon. He is the son of Ma Chenshu and Huang Huiqing. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. 10 principles for great leadership, according to Disney's Bob Iger. Tencent lost the case and had to relinquish the domain names. Effectiveness of leadership style. Steve Jobs leadership style & personality. Ideas are not important in China execution is [95]. [33], After AOL (America Online) bought ICQ in 1998, the company filed an arbitration against Tencent with the National Arbitration Forum in the United States, claiming that OICQ's domain names OICQ.com and OICQ.net were in violation of ICQ's trademark. Tencent provides mass media, Internet and mobile phone value-added services including web portals (QQ.com), social networks, popular instant messenger (Tencent QQ), online games, e-commerce, and series of . Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. A service starts with the satisfaction and needs of its users in mind and is de ned by those two things, he wrote on WeChats internal platform in April 2017. Based on the streamlined approach to replenishment, Ohno devised the Toyota Production System, which is more broadly known as lean manufacturing or Just-In-Time (JIT) inventory system. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. Charismatic leaders emerge in times of instability, change, or crises, but many critics argue that charismatic leaders tend to forget the groups benefit and try to gain most of the attention for themselves. [43] He owns a redeveloped palatial residence of 1,820 m 2 (19,600 sq ft) in Hong Kong. On the other hand, the Eastern Asian disruptively successful companies that ranked high enough in the global top 100 were Toyota Motors, Alibaba and Tencent15, 22, and 32 [29]. By setting the right cultural tone. Ma himself . London Business School takes your privacy seriously. The rm also invested US$1.8 billion (1.3 billion) in Tesla. Over the years, Tencent has quietly bought stakes in major players such as Activision Blizzard, which puts out Call of Duty, World of Warcraft and Candy Crush. Our editors will review what youve submitted and determine whether to revise the article. In Hong Kong, he has a rebuilt palatial mansion of 1,820 m2 (19,600 sq ft). Resilience is all part of Mas mission to face down internal and external attackers. Visionary leadership style. For instance, the number was three in the case of the study Internationalization of small- and medium-sized enterprises: a multi case study [30], four, in the case of the study Competitive product-service systems: lessons from a multi-case study [31], and 10 in the case of the study Knowledge management critical failure factors: a multi-case study [32]. We are still striving to create something really cool, trying to create things we couldnt even imagine without our new technologies. Ortega first applied this approach in a bathrobe business, Confecciones Goa, company that he founded in 1963. Zhang emailed Ma asking for permission to create a competitor to Kik Messenger, founded in 2009 by a group of students from the University of Waterloo in Canada. Rev. By 2007, Taobao had a 67 percent market share in China and eBay sold its Chinese operations to the media consortium TOM Group. Let us know if you have suggestions to improve this article (requires login). Then again, innovation takes many forms. By making research easy to access, and puts the academic needs of the researchers before the business interests of publishers. He later managed a clothing store that catered to wealthy clients. By 1869, he thought that he had made enough progress with a duplex telegrapha device capable of transmitting two messages simultaneously on one single wireand abandoned telegraphy for full-time entrepreneurship. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. Leadership style refers to the way the leaders represent their ways of running an organization. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. the case of Alex Gorsky, the CEO of Johnson & Johnson and past CEO of IBM, under whose leadership the corporate net prot rose by 18% in 2014 on the basis of a 4.2% increase in sales [ 60 The company's first product came after Ma participated in a presentation for ICQ, the world's first Internet instant messaging service, founded in 1996 by an Israeli company. On February 4, 2004, Mark Zuckerberg, a Harvard student, launched the facebook.com, a directory in which fellow students entered their information and photos into a template. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. He believes in leading a transformational leading style by giving an affable environment to his employees. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. We believe, and then we see. In 1976, back in Silicon Valley, Steve Jobs and his former friend, Stephen Wozniak, worked on a computer design of their own, the Apple I [39]. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. Mandi is an experienced writer on various topics with a passion for telling stories with words. According to Weber, charisma is defined as a set of qualities in a person that allows him or her to be set apart from ordinary people and treated as endowed with supernatural, superhuman, or at least specifically exceptional powers or qualities regarded as of divine origin or as exemplary, and on the basis of them the individual concerned is treated as a leader [8]. He is the founder, chairman. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. He was born in 1971 in Chaoyang, Shantou, China. What do they fundamentally do wrong? Ma believes this will bring him success and it will inspire people around him to work hard for achieving the goal. Based on the contingency leadership theory,this paper analyzes the leadership style of Ma Huateng and examines the impact of his leadership style evolution on Tencent culture.Ma's leadership style changed from transactional leadership to transformational leadership.These two leadership styles shaped Tencent's markethierarchy orientation culture Resilience Amancio Ortega, who was the one that directly conceived and engineered the above-mentioned business model, clearly is an innovator and a pioneer [18]. [40], According to the official Tencent website, Ma is a deputy to the 5th Shenzhen Municipal People's Congress and served in the 12th National People's Congress. After purchasing ICQ in 1998, AOL initiated an arbitration against Tencent with the National Arbitration Forum in the United States, alleging that OICQs domain names OICQ.com and OICQ.net were infringing on ICQs trademark. In the case of the selected framework, the results are the ones that tell if this choice was right. Taking into consideration the profile that could be expected in the context of startups and an innovation-led context [1, 2, 3], best framework candidates for further evaluation would be (1) transformational leadership, (2) charismatic leadership, (3) entrepreneurial leadership, and (4) visionary leadership. Some would say its part of the governments surveillance system that through contentious social credit scores, Tencent can ll a gap in Chinas nancial system by taking a big-brother lens to citizens purchasing behaviour. Because of his alternative approach to leadership, which BK is all about, we took a deep dive into what makes Nadella so special and why he's a leader to look . 4. Ma Huateng. 2022 The Author(s). Speaking at the Tsinghua Management Global Forum in 2016, Ma pointed to Tencents early days as a classroom for culture. In 2016, Apple ranked number 1 in the world in terms of market capitalization. Under Ma's leadership, Tencent has moved into web portals, social networks, multi-player games and e-commerce, making the company today an Internet powerhouse and China's number one brand. These two leadership styles shaped Tencent's markethierarchy orientation culture and teamwork\innovation orientation culture respectively. The battleground is vibrant. On being an innovator: Invention is not enough. In terms of actively supporting internal growth: When you go out into the workplace, you should be looking for things that you can do for your people there. However, he definitively qualifies as a visionary leader. If Tencents success in the early 2000s lets call it Tencent 1.0 was due to replication, that of Tencent 2.0 was down to incremental innovation. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. By 2015, QQ had 850 million monthly users [94]. [5], Being one of "Fortune world's greatest leaders",[11] Ma is known for his low profile personality as compared to fellow Chinese businessman and Alibaba founder Jack Ma's outgoing personality. Both hubs developed a long list of innovations [53]. On this Wikipedia the language links are at the top of the page across from the article title. In that trip, he visited one of the supermarkets of the Piggly Wiggly chain [84, 85]. Tencent made over $56 billion in revenue in 2019, alone. Ma Huateng seldom appears in the media and is known for his secretive lifestyle. [32], Talking about the founding of Tencent, he told China Daily in a 2009 interview that "If I have seen further, it is by standing on the shoulders of giants", paraphrasing a quote attributed to Isaac Newton and referencing the similarities between ICQ and OICQ. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. With that purpose, they devised a new type of search engine tool to track the backing links of each site. Its hedging its future bets. You need resilience to keep you on the ball. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. Please note that by subscribing now you may from time to time receive other emails from LBS about events or other activities that we think might interest you. Open Access is an initiative that aims to make scientific research freely available to all. He considered the next generation better positioned to dream up the next big product idea. Neat. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. One is Alibaba founder Jack Ma, who is fairly well known in the States, and the other is Ma Huateng, . [31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. Best known as the brains behind the WeChat messaging app and Player Unknown's Battlegrounds (PUBG), Pony Ma is a man who knows how to turn an idea into hard cash. Another researcher, Bernard M. Bass, expanded on Burns work by describing the psychological mechanisms behind transforming leadership. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. Plenty of seemingly bulletproof businesses Dell, HP, Kodak, Blockbuster have lost their edge by failing to adapt. Leadership - Advancing Great Leadership Practices and Good Leaders [Working Title], Open access peer-reviewed chapter - ONLINE FIRST, Submitted: July 8th, 2022 Reviewed: September 13th, 2022 Published: October 28th, 2022, Total Chapter Downloads on intechopen.com. 2.0Leadership Style of Pony Ma Huateng When starting-up of Tencent Company, Pony Ma was a transactional leader who leads his subordinates through transactions which is more emphasize on quality of product and the relationship with employees is more like in contract form. Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. When something new comes along, customers think its usually best to stick with what theyre used to, unless its dramatically dierent. Chinese internet entrepreneur (born 1971), "Bloomberg Billionaires Index: Ma Huateng", "Pony Ma, the global strategist with deep pockets", "Tencent posts 69 percent jump in quarterly net profit; becomes the most valuable company in Asia", Investing in China: The Emerging Venture Capital Industry, "The 100 Most Influential People in the World", Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders, Pg. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. (TIE) Zhao Changpeng (Canada) Bloomberg. He is the founder, chairman, and CEO of Tencent, which is China's most valuable company. The Chinese government overly supported Tencent as a edgling rm, it benets from Beijings block on Facebook, Twitter and Google, and, in return for help, captures ever more data, they would claim. Internal battles, where two teams can QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. We lack people with dreams, who can die for those dreams; For most people, they see and believe. Since that time, the principle of lean manufacturing has been adopted by many firms and industries [84, 86, 87]. The only large-enough Western European disruptively successful company that also met the criteria was the Spanish firm Inditexnumber 67 as per market capitalization [29]. Tencents attention to speed has long had its rivals green. Younger employees understand what people want. Employees share insights, software and entire bodies of code from other parts of the business. It was even risky, he thought, to rely too much on the founding team. Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". [37], In December 2015, Ma announced that Tencent would build an "internet hospital" set up in Wuzhen that will provide long-distance diagnoses and medicine delivery. Next, the chapter describes a conducted multi-case study that tested the actual possible correlation between the chosen leadership framework and the profile of the leaders of their disruptively successful corporations. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. Therefore, the framework that appeared to suit the best in terms of analyzing environments that combine entrepreneurship and innovation is that of visionary leadership [20, 21, 22]. Is it a legitimate global player? Long ago, Max Weber described charismatic authority in his book Economy and Society [8], where he identified it as one of three types of legitimate domination. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. Jack Ma, the former English teacher who founded Alibaba, is the antithesis of his namesake: fting world leaders, setting bold targets and his penchant for shooting from the hip leave his minders. A strategy of continuous renewal Logical incrementalism All five leaders had a clear sense of where they wanted to lead their companies but theirs was not a grand vision, rather a sequence of goals As the founder of the entertainment giant Tencent, Ma Huateng (or Pony Ma, as he's better known) ranks as one of the richest people on the planet. Some Jobs words, recorded in the mentioned documentary Triumph of the Nerds [45], can give a sense of his ability for creating positive and inspirational visions [18]: To me, the spark of that (birth of personal computer industry in Silicon Valley in the early seventies) was that it was something beyond the sort of you see every day. This reality implies that collective or organizational outputs may not always be prioritized or maximized, since that is not the main objective for this type of leaders [9]. He dropped out of Reed College, in Portland, took a job at Atari Corporation as a videogame designer in early 1974, and saved enough money for a pilgrimage to India [39]. This type of leadership is best used when there is a big change in the company or a clear direction is needed. In terms of being inspirational and a great team builder. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. Later, the company provided users with a range of innovative online lifestyle services. These services included online media outlets, e-commerce outlets, gaming options, social media sites, online advertising, and an online payment option [94]. Lizzy Caplan Bio, Age, Husband, Net Worth, Inside Job, Castle Rock, Movies, Tisha Campbell Bio, Age, Husband, Children, Uncoupled, Net, Movies, Cassi Davis Bio, Age, Family, Boyfriend, Net Worth, Movies, TV Shows. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. If youve already registered, please log in. And how do we power our organization to really focus on that and really drive it at a high rate? [59]. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. The software soon gained traction, with more than a million registered users by the end of 1999, making it one of Chinas most popular online services. Some of the main elements of his leadership style included effective communication, involvement, innovation, risk-taking, passion, and focus. 2023 Forbes Media LLC. The World's 10 Most Powerful Executives This year's Forbes list (May 10, 2018) of the World Most Powerful included 75 namesone for every 100 million people on earth. After his return to China, Ma founded China Pages, a website page developer for Chinese businesses. The definition of entrepreneurial leadership can be traced back to different theories about entrepreneurship [14], entrepreneurial orientation [15, 16], and entrepreneurial management [16]. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. This method required concentration of researchers and projects in one spot. He has an estimated net worth of 38.7 billion. Tencents immense success made Ma, who was widely referred to as Pony Ma (the nickname was a play on his surname, which means horse in Chinese), one of the wealthiest individuals in China. The principle of lean manufacturing has been involved and played a leading role in a Corua,.. Edge by failing to adapt million users [ 94 ] R & D dollars you have suggestions to improve article., China, Ma is worth $ 46.8 billion which places him ability to develop hot products.! Scientific research freely available to all tech rms, such as Facebook are in. 25 ], Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant to... Case of the page across from the article title whether to revise the article describing the mechanisms... 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