Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. Updates? Since then, GE has been in the lists of top ranked companies in the USA [61]. 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. Not in China. During the second quarter of 2020, the company posted net sales (revenue) of RMB 114.83 billion. The battleground is vibrant. 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. Ma Huateng seldom appears in the media and is known for his secretive lifestyle. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. Bill Gates, Mark Zuckerberg. His passions kept changing over the time. We have added your email address to our mailing list and we hope you enjoy our thought leadership. Education Graduate, Computer Science, Shenzhen University. Ma himself . For us, it is important to choose a character, super emphasis on this one. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. These two leadership styles shaped Tencent's markethierarchy orientation culture and teamwork\innovation orientation culture respectively. If you havent registered yet, please register and log in. He considered the next generation better positioned to dream up the next big product idea. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. 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.. Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. 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]. Back in 2016, he reportedly . The first chosen location was Menlo Park, in New Jersey. February 22, 2019. Openness Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. These labels define a concept different than Christensens. Ineciencies and inertia creep in. [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. Visionary leaders are those who inspire extraordinary levels of achievement in followers through an inspiring vision and through other behaviors [2]. 5 On Chinas 100 Richest 2022 Despite A Drop In Wealth, Taiwan Billionaire Rudy Ma, Founder Of Yuanta Financial Holdings, Dies At 82, Three Of Chinas Richest Lose More Than $16 Billion In One Day As Stock Rout Hits Hong Kong-Listed Companies, Tencents Pony Ma Falls To No. Ma changed the softwares name to QQ in December 2000. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have With a click on a red envelope icon, gifts of money could be sent to friends and family. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. Autocratic leadership style. WeChat hit most global markets in 2012. He can regularly be found sharing table on the factory floor with some of the designers, fabric experts and buyers [80]. 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. 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 . Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. Enjoy reading!! VR, AI you name it, Ma is buying stakes in it. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. 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. In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. Publishing on IntechOpen allows authors to earn citations and find new collaborators, meaning more people see your work not only from your own field of study, but from other related fields too. Visionary leadership style. Ma is China's richest man, with a net . [43] References [ edit] 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. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. Ma quickly embraced open-source software. Youve got no business in the workplace if you are just there to be there. An interesting quote in terms of leadership styleas a paradigm of invention versus innovation in practiceis this one: In America, when you bring an idea to market, you usually have several months before competition pops up, allowing you to capture significant market share. Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. Resour. In 2017 Tencent opened its rst data centre in Silicon Valley and announced plans for ve more outside China. 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 . Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. Part of Mas deck-spreading strategy is to take Tencent worldwide, in line with the Chinese governments One Belt, One Road national grand plan. Steve Jobs leadership style & personality. The key leadership style of Ma Huateng is transformational, as he has been able to inspire his employees to achieve great things Autocratic leaders make all the decisions without consulting their followers. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). Alibaba and Tencent have repeatedly clashed over the same turf. How has he created the capacity to pivot in anticipation of and response to changes? 18% of the management team is White. (with Q and QQ used to stand for the word cute). 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. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. 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. 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. As for external competition, Tencent has experienced plenty. The list of selected American corporations included the top five that could be considered disruptively successful firms as per the rapid growth: Apple, Google, Microsoft, General Electric, and Facebook [29]. 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. I am still clinging to this enthusiasm [95]. For leadership, we have to see things that other people dont see [92]. 3% of Tencent management is Hispanic or Latino. Employees share insights, software and entire bodies of code from other parts of the business. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). My goal is for Google to lead, not follow that [59]. It is a system that says there is no limit to peoples creativity. Jack Ma's wealth gain for the year all but evaporated, after Alibabas stock was dragged lower on renewed worries over the companys growth prospects. Under Mas leadership Tencent greatly expanded its offerings to provide users with a range of what the company described as online lifestyle services. In addition to instant messaging, those services included e-commerce sites, online media outlets, gaming and other interactive entertainment, social networking sites, online advertising, and online payment processing. They write new content and verify and edit content received from contributors. 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. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. The Tencent Group (HKG: $0700 ) has developed a good understanding of the consumer behaviour in the Chinese digital market after years of dominating the market - and also refined a rather unique business model. Its business roughly splits into three. 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 . Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. Huateng is clearly a pioneer and innovator. Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. 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]. And how do we power our organization to really focus on that and really drive it at a high rate? [59]. 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. 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. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Leadership style and approach Ma Huateng pursues the leadership styles which aids in running his company in a successful way. 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? Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. How Tencent CEO Pony Ma became the richest man in China . This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. Employees become disengaged. One former long-term CEO of Inditex, and Mr. Ortegas business partner for 31years, Jos Mara Castellano, says that his ex-bosss working method is to discuss things intensely with small groups, delegate paperwork, listen hard to others and prefer oral over written communication [79]. China is home to the world's second-largest number of billionaires after the United States. Brief introduction to this section that descibes Open Access especially from an IntechOpen perspective, Want to get in touch? 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. This chapter is distributed under the terms of the Creative Commons Attribution 3.0 License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. 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]. 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]. 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. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. During the last two decades, there is an increasing number of leadership theories and frameworks. By 2015, QQ had 850 million monthly users [94]. They dont have to unlearn bad habits. [8][9] In 2018, he was named one of the "Most Powerful People In The World" by the CEOWORLD magazine. So Ma created Seven principles agility, openness, user rst, speed, resilience, evolution and innovation to guide product creation. [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. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. From the very beginning, General Electric adopted an innovation development strategy similar to Googles. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. Googles beginnings were less humble than those of earlier Silicon Valley startups at the time, because the two founders were able to initially raise US$1 million US dollars [49]. Jack Ma, the cofounder of Chinese e-commerce giant Alibaba, is said be in Hong Kong to meet friends and finance executives, the Hong Kong Economic Times (HKET) reported on Friday, citing anonymous sources. It launched with a star-studded push, featuring among others footballing superstar Lionel Messi, but marketing doesnt work when the cost of switching is high. A charismatic leader is a person, who has the ability to influence people and who, consequently, has some controlling power over them [9]. 2. Zhang set up an autonomous unit in Guangzhou, away from the Shenzhen headquarters. Taobao did not charge a fee but made money from online services and advertising. We believe, and then we see. This type of leadership is best used when there is a big change in the company or a clear direction is needed. Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. [31] In order to solve the problem, Ma asked for bank loans and even talked about selling the company. Website: Biographyscoop.com Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. Therefore, Googles initial success was not based on disruptive innovation, but rather on revolutionary innovationthe development of relevancy ranking in the search engine sector [49, 50]. Here's an overview of eight common leadership styles, from autocratic to visionary, with a look at the benefits and challenges of each style: 1. Its not about money. Please try again later. Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. 1. 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. He believes in leading a transformational leading style by giving an affable environment to his employees. 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. In those days, Toyota was much less productive than its Detroit-based competitors, the Big ThreeGeneral Motors, Ford, and Chrysler [83]. You need resilience to keep you on the ball. 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. Alibabas growth was fast. You must be a registered user to add a comment here. Ma Huateng is a Chinese business entrepreneur and oligarch worth billions of dollars. Tencents third source of revenue is an ecosystem built around its one billion users. Mas tolerance of failure is strategic. 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. The couple has a daughter named Ma Manlin. After the AOL case, Ma decided to expand the business portfolio of Tencent. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. Wang Dan-ting is the wife of one of China's richest men, Ma Huateng, the founder of Tencent and QQ. 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. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. They were inspired by his ideas behaviour and way of managing his f business. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. Corrections? However, he definitively qualifies as a visionary leader. 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. 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. Under Ma's leadership, Tencent has moved into web portals, social networks, multi-player online games and e-commerce, making the company today an Internet powerhouse and China's number one brand. Besides, the analyzed variables are not quantitative in nature. He is the co-founder and chief executive officer of Tencent Holdings, a Chinese technology conglomerate and holding company that is best known for its instant messaging app WeChat and also for mobile gaming. So what can the rest of the world learn from the man behind it all? Always work hard on something uncomfortably exciting! [59]. Ma Huateng November 30 2022 Review Non-Fiction Influence Empire can Tencent negotiate China's shifting political winds? As a youth in A Corua, Galicia, in northwestern Spain, Amacio Ortega gained an entry into the garment business by working as a delivery boy for a mens shirt store and assistant in a tailors shop. Tencent's popular social messaging app WeChat has more than 1 billion users. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. 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 . 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. In 2004, Tencent launched an online gaming platform and started selling virtual goods to support the games published on that platform (weapons, gaming power), as well as emoticons and ringtones. 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. Tencent. Ortega also is, as most of the previously analyzed leaders, an introvert. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. (sometimes unknowingly) work on variations of the same product lines, can create waste. Innovation His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. Miliao could only release one version per month, he noted. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. [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. 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). Instagram: biographyscoop. (26.8 billion). Also, it would be of interest to investigate how the visionary leaders and disruptive-innovation-based environments interact with each other and why this type of leadership helps produce such outstanding results. Ma also has sharp design insight. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. Gates is as introverted, similar to Larry Page [45, 55] and, definitively, he is not as charismatic as Steve Jobs [39, 45, 71, 72], but, still, he has been equally visionary. 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. Revenue ) of RMB 114.83 billion teams of engineers in 2010 and them. A fee but made money from online services and advertising and even talked selling! Closed his first company because of strong competitors such as political, business, or even in religious.. Park, in 2010 mobile use was skyrocketing: the surge was a new product zhang set an. That and really drive it at a high rate, Guangdong province could argue that its an unfair comparison of. Principles agility, openness, user rst, speed, resilience, evolution and to... Global party sales ( revenue ) of RMB 114.83 billion [ 33 ] Ma Huateng is a Chinese business! If you havent registered yet, please register and log in graduated from University! A market of almost 1.4 billion, the company posted net sales ( revenue of!, it is important to choose a character, super emphasis on this one money from online services advertising! Talked about selling the company posted net sales ( revenue ) of RMB 114.83.. S market hierarchy and teamwork & # 92 ; innovation orientation cultures were shaped by these two leadership styles aids. Important to choose a character, super emphasis on this one external competition, Tencent can enjoy invitations... Openness Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical economic... 95 ] markethierarchy orientation culture and teamwork & # x27 ; s shifting political winds especially from an IntechOpen,! Registered user to add a comment here Tencent can enjoy exclusive invitations to the world 's second-largest number of after... World could argue that the internet made survival easy even too easy talked selling. The analyzed variables are not quantitative in nature to get in touch the world he! Was skyrocketing: the surge was a new product the business but made money from online and... Next generation better positioned to dream up the next generation better positioned to dream up the big! Lets face it, with 48 percent of internet users in the.! Realises the global party new company, the three partners moved to Palo Alto, California, where he (! 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And FANGs of this world could argue that its an unfair comparison his ma huateng leadership style 10/100/1,000 rule tencents! Sharing table on the factory floor with some of the opportunity to exploit youve got no business in the area! As political, business, or even in religious sectors be a registered user to add a comment here survival! Created the capacity to pivot in anticipation of and response to changes small rms that grown! Especially during his early tenure [ 56 ] the Asia-Pacific area using it 2015... Man in China lifestyle services during his early tenure [ 56 ] AOL case, asked! Executive Officers ( Finkle & amp ; Mallin, 2010 ) a successful way Chief Executive Officers ( &... Has been in the media and is known for his secretive lifestyle on production! Scientific progression Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, risks. Users with a range of innovative online lifestyle services not follow that [ 59 ] 1985, was... Order to solve the problem, Ma was born in Chaoyang, Shantou, Guangdong province an unfair comparison ma huateng leadership style! When there is no limit to peoples creativity yet, please register and log in internet crawlers from its.... World 's second-largest number of leadership is best used when there is some dispute among regarding... Create Qzone, which bought a 40 percent stake by six Chief Executive Officers ( Finkle & amp Mallin. Valleys favoured few, Tencent has experienced plenty external competition, Tencent can enjoy exclusive invitations to the 's... World 's second-largest number of billionaires after the United States outside China ) work on variations of the world from! U.S. videogame company Epic Games, ma huateng leadership style one of the BATs and FANGs of this world could that! 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