Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. No product starts perfect. Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. 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 article Characteristics of Visionary Leadership highlights the relevance of certain management traits in the context of greenfield projects and then associates the following attributes to those of a visionary leader [18]: (1) creators of a positive and inspirational vision, (2) supporters of organized learning and growth inside the organization, (3) innovators, and (4) pioneers. From mobile payments to taxi hailing, users can live their lives on one app. 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. Ma Huateng is a business tycoon, an entrepreneur, an engineer, a philanthropist, and an investor. He is said to possess property in Hong Kong as well as art items worth . Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. Ma Huateng. For leadership, we have to see things that other people dont see [92]. Ortega also is, as most of the previously analyzed leaders, an introvert. After seeing a presentation for ICQ, the worlds first Internet instant messaging service, created in 1996 by an Israeli business, Huateng co-founded Tencent in 1998. He is said to own property in Hong Kong as well as art worth $150 million. Leng Hu. Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. Feature comparison between studied firms and founders. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. Eventually, there is no assumption on what the results would have been or would be if some other of these frameworks would have been tested in the study. Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. Ma sensed this threat: Some say that mobile internet just means adding mobile in front of the internet as an adjective, but I felt it was more than an extension. He is the founder, chairman, and CEO of Tencent, one of Asias most valuable corporations, one of the worlds largest Internet and technology companies, as well as one of the worlds largest investment, gaming, and entertainment conglomerates. Two months later, one team presented WeChat, a text messaging and group chat software that was released in January 2011. A year later the company launched the Internet-based QQ service (then called OICQ), which soon became one of Chinas most-popular instant-messaging platforms. Tencent cofounder Ma Huateng (also known as Pony Ma) led the dive with a $6.1 billion wealth plunge, followed by Nongfu Spring Chairman Zhong Shanshans $5.6 billion and Country Garden Co-chairman Yang Huiyans $4.7 billion. So what can the rest of the world learn from the man behind it all? In China, you can have hundreds of competitors within the first hours of going live. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. On being a pioneer: Lots of companies dont succeed over time. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. He reportedly owns property in Hong Kong and art pieces worth US$150 million. In terms of being inspirational and a great team builder. Instagram: biographyscoop. [30] He also worked for Shenzhen Runxun Communications Co. Ltd. () in the research and development department for Internet calling services. On being an inspirator: We look for people who are passionate about something. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Omissions? 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. Autocratic leadership style. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. Interestingly, they met on Tencent's chat room, QQ after 3 months of using the app. At that time, Edison moved to New York City, where he initially partnered with Frank L. Pope, an electrical expert, and produced the Edison Universal Stock Printer [62]. Hum. Besides, Tencent has earned its premier status and, as long as Ma keeps pushing his principles, perhaps the rest of the world can adopt them as their own. 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. He applied the term transformational instead of transforming. Bass argued that transformational leadership has four constitutive parts [6, 7] which are (1) idealized influence, (2) inspirational motivation, (3) intellectual stimulation, and (4) individualized consideration. (26.8 billion). 2023 Forbes Media LLC. Let China's internet giants tell you", "Ma vs. Ma: The most expensive house in Hong Kong belongs to one of China's internet kings - but is it Jack or Pony? Tencent subsequently gained the backing of two overseas venture-capital firms, and in June 2004 the firm raised nearly $200 million when it went public on the Hong Kong stock exchange. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. Brief introduction to this section that descibes Open Access especially from an IntechOpen perspective, Want to get in touch? Under Mas guidance, it is shoring up its strategic options, investing in game-changing technologies set to be the next big thing. 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]. February 22, 2019. Ma Huateng has built Tencent through transformational leadership behaviours, including his vision of continuous innovation, encouragement of experimentation, and modelling that innovative spirit. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. After his return to China, Ma founded China Pages, a website page developer for Chinese businesses. Tencent CEO Ma Huateng, also known as Pony Ma, started out making $176 a month and now has a net worth of $45 billion. In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. By 2016, it employed 40,000 people, up from 1,000 in 2004. While every effort has been made to follow citation style rules, there may be some discrepancies. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. In regard of the reasons why this type of profile is required in the studied context, one may be the fact that, in the case of disruptive innovation, nobody, even clients, may be able to forecast or imagine items such as the final functions and aspect of the products, the expected demand, and other features. 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. Openness also means sharing. On being an innovator: People think innovation is just having a good idea but a lot of it is just moving quickly and trying a lot of things [75]. Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. Ma Huateng November 30 2022 Review Non-Fiction Influence Empire can Tencent negotiate China's shifting political winds? The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. China 2015, 20, 99-104. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. He was born in 1971 in Chaoyang, Shantou, China. Ma's leadership style changed from transactional leadership to transformational leadership. Chaoyang, Shantou, Guangdong. Ma Huateng Leadership Style Ma's management style shifted from transactional to transformational leadership. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. 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]. For us, it is important to choose a character, super emphasis on this one. The evidences all seem to point to a conclusion that Jack Ma is an effective leader who has a seemingly well-developed emotional intelligence and flexible leadership style. Since that time, the principle of lean manufacturing has been adopted by many firms and industries [84, 86, 87]. Net Worth $67.5 billion (As of March 01, 2021) Ma Huateng's Assets: Tencent Holdings. When something new comes along, customers think its usually best to stick with what theyre used to, unless its dramatically dierent. In 1999, Alibaba Group, an online trading company, was established by Jack Ma, a former English teacher, in Hangzhou City, China [90]. Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. Zhang was concerned that Kik or similar products could rival Tencents QQ. [5], Speaking of censorship at a tech conference in Singapore, Ma was quoted as saying "In terms of information security management, online companies from any country must abide by a defined set of criteria, and act responsibly. He started off by improving his communication skills and also learned English. These labels define a concept different than Christensens. Finally, it would also be interesting to test how other leadership frameworks fit in the same context and how the same leadership framework fits in the different ones. Visionaries may be the only ones that can actually provide some accurate guesses, and, at the same time, put together, motivate, and guide a team in the right direction. Inditex produces a significant amount of its production in-house and makes sure that its own factories reserve 85% of their capacity for in-season adjustments [77]. 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. It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. He is the founder, chairman, and CEO of Tencent, which is China's most valuable company. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. Within 2weeks, half of the students had signed up [74]. Licensee IntechOpen. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. It is true that leadership is one of the 4 functions of management but that does not mean that all managers are effective leaders. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. Home prices slumped for a third-straight month in September; Twitter quietly stopped enforcing its Covid-19 misinformation policy; meet the youngest honorees on Forbes 30 Under 30 2023 list; and more. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. 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]. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. 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. Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. Home > Reshma Saujani, as shown above, is a champion for girls and women. We lack people with dreams, who can die for those dreams; For most people, they see and believe. Please try again later. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. Unshackled by rules, Tencent employees have freedom to act to invent, to problem solve, to wow. According to Ma, "giving up is the greatest failure. Internal battles, where two teams can [Photo by Tang Mingming/For China Daily] NPC deputy believes digital economy could become the engine driving China's next phase of development, affecting many sectors Pony Ma, the low-profile founder of tech giant Tencent Holdings, created a social media stir over the weekend by reposting an article on China's economy, an unusual breaking of silence by a . 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. Alibabas business model bets a revolutionary innovation: Mas belief that the small-business-to-small-business online market offered much greater opportunity than the consumer-to-consumer one, the reason being that, unlike consumers, small businesses are willing to pay a membership fee [91]. Tencents people are in search of excellence. An article in The Economist describes how Ortega works: He has never had his own office, desk or desktop computer, preferring to direct his firm while standing with colleagues in a design room of Zara Woman, the flagship line. "[41], Ma uses the nickname Pony, derived from the English translation of his family name Ma (), which means "horse. Let us know if you have suggestions to improve this article (requires login). Pony is Mas nickname, which comes from the English version of his surname Ma, which means horse. Ma is known for his reclusive lifestyle and rarely appears in the public. By late 2015 QQ had approximately 850 million monthly active users, and WeChata mobile instant-messaging app that was first introduced in 2011had some 650 million users. Creating back doors was a ring oence. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. If your idea of a good time is a euphoric party, now is the time for Dominica. Ideas are not important in China execution is [95]. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. Ortega eats lunch with his employees in the company cafeteria. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. 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 . Leadership. I am still clinging to this enthusiasm [95]. Yet few, in the West at least, have heard of it. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. Here are further demographic highlights of the leadership team: The Tencent executive team is 50% female and 50% male. An overwhelming percentage of the disruptively successful companies in the top 100 as per market capitalization are American and, mostly, they are located in Silicon Valley. Ma completed his remaining schooling from there and found a keen interest in computer technologies. Alibaba and Tencent have repeatedly clashed over the same turf. 2 on China's 100 Richest last yearsaw his net worth tumble to $49.1 billion this year, as Beijing tightened rules on the countrys internet companies. 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]. This type of leadership is best used when there is a big change in the company or a clear direction is needed. They usually miss the future. BAT Baidu, Alibaba and Tencent are Chinas power gang. This chapter reviews relevant literature in order to identify the leadership framework and profile that may better characterize entrepreneurs and business leaders that eventually founded or developed disruptively successful firmspopularly known as unicorns. Next, the chapter describes a conducted multi-case study that demonstrates a strong correlation between the positive checkmarks in the selected leadership frameworkvisionary leadershipand the profile of the leaders of nine different international corporations that became industry leaders in less than 20years (Apple, Google, Microsoft, Facebook, General Electrics, Toyota, Alibaba, Tencent, and Inditex). Profiles. 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