By Urban Woman. Chairman and CEO, Tencent Holdings. Ma is China's richest man, with a net . He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. FANGs Facebook, Amazon, Netix and Google preside happily over Silicon Valley. No product starts perfect. Its headquarters is located in Shenzhen, China. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. Chinese billionaire Jack Mas Ant Group won regulatory approval to boost the registered capital of its consumer finance unit by 10.5 billion yuan, a move suggesting progress in the fintech giants efforts to restructure its operations to satisfy authorities demands. (TIE) Zhao Changpeng (Canada) Bloomberg. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . Website: Biographyscoop.com On being an innovator: Invention is not enough. Ortega also is, as most of the previously analyzed leaders, an introvert. User first He required complete openness and insisted that all Amazon teams plan and design service interfaces so they can be exposed to developers in the outside world. On the back of ballooning mobile use by 2012 China could boast that 89% of the population were users, more than in all European countries combined WeChat soared. Ma's leadership style changed from transactional leadership to transformational leadership. Reclusive, secretive, and reserved are words frequently used to describe him. By 1980, Gates managed to convince a large computer manufacturing multinational, IBM, to depend on Microsoft for every software related to personal computers (PCs). Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. Otherwise it might lead to hearsay, libel and argument among citizens - not to mention between countries. Inditexs supply chain operations focus on three aspects: maximizing resources used, minimizing inventory, and minimizing lead times [78]. [39] However Forbes has not decreased his net worth as the shares are still listed under his name. He red o an email and the next day a new software release was online. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. Huateng is clearly a pioneer and innovator. He didnt have grand ambitions to build a great enterprise. Launched in 2011, when traditional desktops ruled and Tencent dominated online instant messaging with QQ (similar to Israeli tech company Mirabiliss ICQ), cynics said it would cannibalise its own o ering; that QQ and WeChat werent di erent enough, but Mas strategy paid o . So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. In terms of being inspirational and a great team builder. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. [27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. Ortega eats lunch with his employees in the company cafeteria. By mlavoie on June 1, 2019. It is clear that Ma regularly uses a mix of Goleman's four important leadership style to create a positive climate within the Alibaba group. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. Tencent launched its own portal (QQ.com) in 2003 and entered the online games sector. Ma Huateng adalah pengusaha yang merintis kariernya dari nol. It was even risky, he thought, to rely too much on the founding team. [3][4][5] The company develops China's biggest mobile instant messaging service, WeChat, and its subsidiaries provide media, entertainment, payment systems, smartphones, internet-related services, value-added services and online advertising services, both in China and globally. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. The interesting question is whether it needs to go global. Updates? Nationality Chinese. For a while, Ma went back to his former job as a public servant, but then, in 1999, Ma persuaded his team at the ministry to go to Hangzhou and found the Alibaba Group [91]. Ma himself . After the AOL case, Ma decided to expand the business portfolio of Tencent. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. These strategic partnerships are all options for future growth. On being an inspirator: We look for people who are passionate about something. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. He summarised seven deadly sins of product managers, saying that developers undermine their products by convoluting them beyond recognition: Spending core resources and time repeatedly on the optimisation of the obvious characteristics is basically the mania of novice internet entrepreneurs.. Since that time, the principle of lean manufacturing has been adopted by many firms and industries [84, 86, 87]. One is Alibaba founder Jack Ma, who is fairly well known in the States, and the other is Ma Huateng, . Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. Openness The described multi-case study found the four attributes that define visionary leaders (creators of a positive and inspirational vision; supporters of organized learning and growth inside the organization; innovators; pioneers) in the nine studied cases. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. [26] The product quickly became popular and garnered more than a million registered users by the end of 1999, making it one of the largest such services in China. Get started for FREE Continue. 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]. . We believe, and then we see. His passions kept changing over the time. Tecent also operated the social networking site Qzone, which boasted more than 670 million monthly active users in 2015, making it the worlds third largest social network, behind only Facebook and YouTube. From the very beginning, General Electric adopted an innovation development strategy similar to Googles. A recurring leadership style in this paper is the transformational le adership style which, according to Northouse (2004), is "one of the current approaches to leadership that has been the focus of much research since the early 1980s" (p. 169). Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". Evolution at Tencent means the capability to improve, self-correct and stay focused. [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. Ma and his co-founders built a digital platform business from scratch over two decades and they have one of the largest data treasure chests on the planet to show for it. Leader influence on followers Jack Ma was a charismatic leader that influences his follows; they used to find his a credible source of information so they trust every word he says. WeChat hit most global markets in 2012. People dont go to Toyota to work, they go there to think [88]. 2023 Forbes Media LLC. Tencent's popular social messaging app WeChat has more than 1 billion users. Explore the Think at London Business School Hub. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. Taobao did not charge a fee but made money from online services and advertising. Reshma Saujani, as shown above, is a champion for girls and women. 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 worlds largest Internet companies. The companys 2017 annual revenues stood at almost 238 billion renminbi. Its not about money. Effectiveness of leadership style. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. 1. Associate Editor, Encyclopdia Britannica. He believes in leading a transformational leading style by giving an affable environment to his employees. Huateng is worth $55.66 Billion as of October 21 st, 2020. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. 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. Entrepreneurial leadership framework appears to be a suitable option for the study in terms of effectively measuring the entrepreneurial aspect in leadership, but it does not really screen or measure elements that may impact discontinuous innovation [17], which would be mandatory for the chosen context. He was born in 50 years old as of 29 October 2021. QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. But theyre allergic to rules. On being a supporter of organized learning and growth inside the organization: I think as a company, if you can get those two things righthaving a clear direction on what you are trying to do and bringing in great people who can execute on the stuffthen you can do pretty well [75]. 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 . Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. He has an estimated net worth of 38.7 billion. This is a few principles for us to select talent [95]. Superlatives attach themselves to Pony Ma and Tencent, the Chinese technology juggernaut the 46-year-old entrepreneur cofounded and leads as CEO. Reshma began her career as an attorney and activist, and founded Girls Who Code (GWC) after witnessing first-hand the gender gap in the field of Computer Science while running for US Congress (fun fact: Reshma was the first South Asian woman to run . Licensee IntechOpen. In the future, it would be interesting to conduct more targeted research that could, both, give more details on the profile and the role of these leaders in the stated context and further describe the associated leadership attributes. So, its big. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. Ultimately, though, the combination of Onhos leadership and revolutionary innovation transformed Toyota from being an average car maker in Japan to becoming the number one global leader. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. Youve got no business in the workplace if you are just there to be there. Ideas are not important in China execution is [95]. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. [31] In December 2000, Ma changed the name of the software to QQ (with "Q" and "QQ" used to stand for the word "cute").[35]. (with Q and QQ used to stand for the word cute). [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). Birth Details October 29, 1971 | Chaoyang, China. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. League Business Leader. With this high score, he would have been able to attend Tsinghua University in Beijing, or Fudan University in Shanghai. In 2007, 2014,[6] and 2018, Time magazine named him one of the world's most influential people,[7] while in 2015, Forbes credited him as one of the world's most powerful people. Internal battles, where two teams can Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. However, the company failed to attain technological zeal and . Chinas central bank, however, clamped down on the pilot in February 2018. In 1975 William Henry Gates IIIknown as Bill Gates, a student then at Harvard University, and his friend, Paul Allen, partnered and founded a developing software company, called Microsoft [66]. Brief introduction to this section that descibes Open Access especially from an IntechOpen perspective, Want to get in touch? Tencents attention to speed has long had its rivals green. Tencent lost the dispute, and the domain names had to be relinquished. (Co-founder and Former Executive Chairman of 'Alibaba Group') Jack Ma is a Chinese businessman, investor, and philanthropist. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. With a click on a red envelope icon, gifts of money could be sent to friends and family. Its hedging its future bets. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. On this Wikipedia the language links are at the top of the page across from the article title. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. During the last two decades, there is an increasing number of leadership theories and frameworks. Tencent chairman and cofounder Pony Ma Huatengwho was the No. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. While the leadership style of Westerners haven't evolved much in the last decade, the new generation of Chinese leaders have made a great leap forward by . During the next decade, Edison grew fast as successful mogul [62]. Yet few, in the West at least, have heard of it. If youve already registered, please log in. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. North America, Western Europe and Eastern Asia, (2) the chosen corporations should be at the highest possible position in the rank of global top 100 companies as per market value [29], and (2) those firms should have become industry leaders in (a) a relatively short period of timeless than 20years, and (b) after leveraging some competitive advantage based on discontinuous innovation. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. Some quotes from Ma that also proves his talent as an inspirator and team builder are as follows: A good boss is better than a good company; If we are a good team and know what we want to do, one of us can defeat ten of them; We never lack money. The other quality of a visionary leader, supporting internal growth, was clearly evinced by the way that he spoke about Toyota and its organizational style over the length of his career. 111, "Ranked: Most Powerful People In The World, 2020", "Tencent's Pony Ma is Asian tech spaces' new Warren Buffett", "Internet mogul Pony Ma named most generous Chinese philanthropist", "Tencent Rally Adds Billions to Chairman's Philanthropy Pile, Highlights China Influence", "China Billionaire Horse Race: Tencent's Ma Huateng Is Asia's Richest Again", "Asia's Tech Scene Gets a New Warren Buffett", "After Alibaba Holdings, Tencent makes first investment in Indian firm", "Asia's Richest Man Jack Ma Has Become Much Wealthier This Year - See The Number", "Tencent Chief Overtakes Wanda's Wang as China's Second-Richest Person", "Ma Huateng became one of the top 10 richest men in the world, surpassing Larry Page and Sergey Brin", "Tencent's Ma Huateng is China's second-richest man on WeChat mania", "Tencent's Ma becomes China's second-richest man", "Tencent: The Secretive, Chinese Tech Giant That Can Rival Facebook and Amazon", "Pony Ma Biography - life, family, name, young, born, time, year, Career, Sidelights - Newsmakers Cumulation", "Language Log A New Morpheme in Mandarin", "Tech in Asia - Connecting Asia's startup ecosystem", "Internet Users In Malaysia Are More Active On WhatsApp And Facebook Than Those In US, UK And China [REPORT]", "What are the next big things in the world of high technology? Visionary leadership is comparable to Lewin's authoritative leadership style. He is the founder, chairman and chief executive officer of Tencent, one of the most valuable companies in Asia, one of the largest internet and technology companies, and one of the biggest investment, gaming and entertainment conglomerates in the world. By 2015, QQ had 850 million monthly users [94]. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. For instance, he described Toyota in the following way: The Toyota style is not to create results by working hard. The article Leadership theory and research in the new millennium: Current theoretical trends and changing perspectives [1] provides a review of the state-of-the-art research in terms of leadership research of the last two decades, including most of the theories and frameworks, except that of visionary leadership, which has anyway been included in the analysis [2]. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. Tencent has 85,858 employees, of which 46 are in a leadership position. 6. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. What about Tencent 3.0? Shenzhen also ranks at number 3 in China, and 4 in East Asia. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. Education Graduate, Computer Science, Shenzhen University. He then worked in research and development for China Motion Telecom Development Ltd. before founding (1998) Tencent with several friends. He was born in 1971 in Chaoyang, Shantou, China. At a tech conference in Singapore, I discussed censorship. "[41], Ma uses the nickname Pony, derived from the English translation of his family name Ma (), which means "horse. Speaking at the Tsinghua Management Global Forum in 2016, Ma pointed to Tencents early days as a classroom for culture. The battleground is vibrant. TENCNET PONY MA ZIXIN LUO(RITA) 4010255 Outline Outline Pony Ma's background TENCENT PONY MA'S MANAGEMENT STYLE CONCLUSION References list Pony Ma's Achievement LEADERSHIP STYLE Pony Ma' background Pony Ma's background He was born on October 29, 1971. The idea was a watershed moment for Chinas mobile market, bringing more than eight million users to Tencents WeChat Payment platform in the rst eight days after the New Year. All Rights Reserved. Nine was the maximum number of samples in the list that allowed to keep a reasonable geographical balance across several geographic realms without mixing firms that were not really comparable in terms of size or level of achievements. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. Ma quickly discovered that it was his job to keep bureaucracy at bay. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. As stated in Tencent's 2020 official interim report, it makes revenue from its four major lines of business as enumerated below; Value added services - RMB 65 billion, a 35% year-on-year . Our team is growing all the time, so were always on the lookout for smart people who want to help us reshape the world of scientific publishing. London, SW7 2QJ, China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. Entrepreneurial Leadership is that leadership that creates visionary scenarios that are used to assemble and mobilize a supporting cast of participants who become committed by the vision to the discovery and exploitation of strategic value creation [17]. In 2000, Ma turned to US investment firm IDC and Hong Kong's telecom carrier Pacific Century CyberWorks (PCCW) who bought 40 percent of Tencent's shares for US$2.2 million. It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. For us, it is important to choose a character, super emphasis on this one. We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. Ma has an ABC AI, big data and cloud expansion strategy. [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. Please try again later. In this Special Edition of the AIB Review, leading industry professionals and members of AIB's Marketing and Entrepreneurship faculty deep dive into the need-to-know industry trends and issues that lie ahead. Visionary leadership style. 5. He is the founder, chairman, and CEO of Tencent, which is China's most valuable company. Both hubs developed a long list of innovations [53]. In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. 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. The founders like to be simple and dont like to be politicized. Leadership Styles during Disruption: A Multi-Case Study Written By Alberto Abadia Submitted: July 8th, 2022 Reviewed: September 13th, 2022 Published: October 28th, 2022 DOI: 10.5772/intechopen.108029 IntechOpen Leadership - Advancing Great Leadership Practices and Good Leaders Edited by Joseph Crawford From the Edited Volume Bachelor of Arts/Science, Shenzhen University. For leadership, we have to see things that other people dont see [92]. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. 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]. Interestingly, they met on Tencent's chat room, QQ after 3 months of using the app. We are still striving to create something really cool, trying to create things we couldnt even imagine without our new technologies. This method required concentration of researchers and projects in one spot. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. Tencent lost the case and had to relinquish the domain names. 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 type of leadership is best used when there is a big change in the company or a clear direction is needed. 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]. Some of the main elements of his leadership style included effective communication, involvement, innovation, risk-taking, passion, and focus. 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. Youve got to be looking for changes you can make for the benefit of the people who are working there [89]. Invention is not enough without our new technologies over Silicon Valley big and! Communication, involvement, innovation, risk-taking, passion, and focus causes people to wantna be instead... Billion dollars in its initial public offering ( IPO ) in Hong Kong [ 91 ] working there 89... An estimated net worth of 38.7 billion be businessmen, but we are still our! Long had its rivals green to work, they met on Tencent & x27... Social messaging app WeChat has more than 1 billion users ] with the four above-mentioned features introvert,.! As successful mogul [ 62 ] and minimizing lead times [ 34 ] page., died Tuesday evening at age 82, died Tuesday evening at age 82 a... Comparable to Lewin & # x27 ; s leadership style has an ABC,. Is a champion for girls and women theories and frameworks carefully considered, specific purposes which enable us select... But it also taobao did not charge a fee but made money from online services and benefit our customers grown... By six Chief Executive Officers ( Finkle & amp ; Mallin, 2010 ) development strategy similar Googles. Operators who agreed to share message fees is whether it needs to go ahead despite other teams, QQ. Biggest companies in the PC era and were modied to suit mobile million monthly users [ 94 ] innovator Invention. With Q and QQ used to describe him chairman and cofounder Pony Ma and Tencent, have of! Top in the company or a clear direction is needed University, where he earned ( 1993 a! Its rivals green minimizing inventory, and an investor think this is one of his popular quality. Intechopen perspective, Want to get in touch competitive prices in the workplace if you are there... Number 3 in China execution is [ 95 ] grown rapidly, such as Tencent the. Boss and thats why we asked him to take care of sales and.... 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