Mas tolerance of failure is strategic. FANGs Facebook, Amazon, Netix and Google preside happily over Silicon Valley. 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]. 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. 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. His passions kept changing over the time. Both hubs developed a long list of innovations [53]. 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. Inditex devised a new model of supply chain, the Agile Supply Chain (ASC), that allows its fashion retailer chains to update products just in time [77, 78]. Ma Huateng - better known as "Pony Ma" - is the elusive founder, chairman and chief executive of China's titan tech rm Tencent. Inditexs supply chain operations focus on three aspects: maximizing resources used, minimizing inventory, and minimizing lead times [78]. In Hong Kong, he has a rebuilt palatial mansion of 1,820 m2 (19,600 sq ft). Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. By mlavoie on June 1, 2019. Facebook was banned in China in July 2009, the same year WhatsApp launched. Updates? Legend of Yulong and Legend of Xuanyuan, two online games, increased sales by more than half, to US$5.1 billion, with a profit margin of US$1.5 billion. 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]. Twitter: @BiographyScoop 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]. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. 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]. April 6, 2021. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. We hope you enjoy our thought leadership. 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. Teams also have freedom to compete. In. However, the company failed to attain technological zeal and . They usually miss the future. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. 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. For us, it is important to choose a character, super emphasis on this one. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). From mobile payments to taxi hailing, users can live their lives on one app. Walter Isaacson, Steve Jobs official biographer, described the founder of Apple as a creative entrepreneur whose creativity, passion for perfection and ferocious drive revolutionized six industries: personal computers, animated movies, music, phones, tablet computing, and digital publishing [44]. 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]. By 2004, Tencent became the largest Chinese instant messaging service (holding 74 percent of the market),[33] prompting Ma to list the company on the Hong Kong Stock Exchange. Ma quickly discovered that it was his job to keep bureaucracy at bay. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. Within 2weeks, half of the students had signed up [74]. Nationality Chinese. He immediately realized that the design of portals could be a great business opportunity in the yet-unformed Chinese market, especially in the business segment. No product starts perfect. Ma led research and development of Internet paging system development at China Motion Telecom Development before starting Tencent in 1998. In 2017, Fortune ranked him as among the top businessmen of the year. Reshma Saujani, as shown above, is a champion for girls and women. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. The internet sector in China is politically policed, but it is also lightly regulated. 6. In terms of being inspirational and a great team builder. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. No exceptions, said Bezos. 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. Ortega also is, as most of the previously analyzed leaders, an introvert. Red Packets are a good example. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . 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. VR, AI you name it, Ma is buying stakes in it. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. [31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. Its not about money. The leader has grown Tencents using transformational leadership style, which is also in line with his vision in the direction of continuous innovation, encouraging employees to experiment and has provided a unique model to inculcate the innovative spirit. 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. Website: Biographyscoop.com 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. He reportedly earned $176 per month. 2004, 29, 222-240. [43] References [ edit] You must be a registered user to add a comment here. 3% of Tencent management is Hispanic or Latino. 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. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. 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. https://www.britannica.com/biography/Ma-Huateng. He is married to Wang Dan-ting. Employees share insights, software and entire bodies of code from other parts of the business. Tencents third source of revenue is an ecosystem built around its one billion users. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Visionary leadership style. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. 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 . Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. He is the son of Ma Chenshu and Huang Huiqing. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. 2.2.2. This can be effective in some cases, but it can also lead to resentment from followers who feel like they are not being given a voice. (sometimes unknowingly) work on variations of the same product lines, can create waste. 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.. 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. Since that time, the principle of lean manufacturing has been adopted by many firms and industries [84, 86, 87]. Google was started in 1998 in Menlo ParkCalifornia, USA. The definition of entrepreneurial leadership can be traced back to different theories about entrepreneurship [14], entrepreneurial orientation [15, 16], and entrepreneurial management [16]. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. Since then, GE has been in the lists of top ranked companies in the USA [61]. 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 . He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. We should not give up the dream of scoring stunning goals in the science and technology . While its Western peers face further scrutiny on privacy, Tencent is less restricted. Ma Huateng expressed that our basic research in science and technology is still weak, and we don't have many unique innovations. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. So, its big. 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 All Rights Reserved. He reportedly owns property in Hong Kong and art pieces worth US$150 million. League Business Leader. In 1956, Ohno visited the USA to learn their supply and inventory methods. It has stakes in electric car maker Tesla and music-streaming service Spotify, which in turn has a stake in its Tencent Music. 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. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. 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. It was a revolution. The interesting question is whether it needs to go global. Net Worth $67.5 billion (As of March 01, 2021) Ma Huateng's Assets: Tencent Holdings. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. Pages personality traits, like his introverted tendencies, may not fit the profile of a charismatic leader [55, 56, 58, 60], but he definitively does in that of a visionary leader. Leadership style and approach Ma Huateng pursues the leadership styles which aids in running his company in a successful way. Thats why we allow those who understand the needs of younger users to do the job, said Ma. [43] He owns a redeveloped palatial residence of 1,820 m 2 (19,600 sq ft) in Hong Kong. Yet few, in the West at least, have heard of it. This is a few principles for us to select talent [95]. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. 3. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. Enjoy reading!! In China, you can have hundreds of competitors within the first hours of going live. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. BAT Baidu, Alibaba and Tencent are Chinas power gang. 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. Tencent made over $56 billion in revenue in 2019, alone. That's why the need for online management is increasingly urgent. 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. 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. Hum. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. 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. 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]. What do they fundamentally do wrong? His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. Some of the most relevant ones were the phonograph, the incandescent electric light and power, the motion picture camera, and the alkaline storage battery [53]. Again, Zuckerberg is as charismatic as Jobs or Edison [39, 45, 71, 72]. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. He is also a business leader. 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? She's been named one of Fortune's World's Greatest Leaders, Fortune's 40 Under 40, a WSJ Magazine Innovator of the Year, a Future Lion of New York by the New York Times, a Harold W. McGraw, Jr. Prize in Education winner, one of the 50 Most Powerful Women in New York by the New York Daily News, CNBC's Next List, Forbes's Most Powerful Women 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. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. On his role as a supporter of organized learning and growth inside the organization: My job as a leader is to make sure everybody in the company has great opportunities, and that they feel theyre having a meaningful impact and are contributing to the good of society. Ma Huateng adalah pengusaha yang merintis kariernya dari nol. These labels define a concept different than Christensens. A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. 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. The companys influence on the Chinese market was immense. Openness also means sharing. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. Licensee IntechOpen. Chaoyang, Shantou, Guangdong. 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]. This type of leadership is best used when there is a big change in the company or a clear direction is needed. 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. Plenty of seemingly bulletproof businesses Dell, HP, Kodak, Blockbuster have lost their edge by failing to adapt. It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. Youve got no business in the workplace if you are just there to be there. Dev. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. On being a pioneer: Lots of companies dont succeed over time. Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. Huateng is clearly a pioneer and innovator. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. These strategic partnerships are all options for future growth. 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. As the most popular industries in Shenzhen . Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. 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]. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. After the AOL case, Ma decided to expand the business portfolio of Tencent. 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 . China, Tencent Holdings Limited; Ma Huateng. 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. Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. 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. UNITED KINGDOM, Leadership - Advancing Great Leadership Practices and Good Leaders, Leadership - Advancing Great Leadership Practices and Good Leaders [Working Title], Ranked in the list of the 20 most influential Americans of all times [, Ranked in the top of the greatest innovators of all times according to the Lemelson-Mit Invention Index [, Lean manufacturing, Just-In-Time (JIT), and derivative approaches created by Ohno are still currently used by a large percentage of manufacturing firms [, Industria de Diseo Textil, S.A. (Inditex). 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. In order to choose the specific companies or cases, disruptively successful firms, the following three criteria were applied: (1) the pool of chosen companies should be located in, at least, three different geographical realms i.e. How Tencent CEO Pony Ma became the richest man in China . Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. Unlike Western app constellations, Tencent combines as many features into one app as possible. 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]. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. The study described in this chapter explores how some leadership models may be linked to some exceptional occurrences, such as disruptive success. This label can be applied to startups or more maturebut not yet elitecompanies that, at some point, grew fast and became world leaders in a period of less than 20years. The second is to look at professional ability and coordination, intelligence and so on. Over the last four decades, Apple has been involved and played a leading role in a number of disruptive and revolutionary innovations. 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]. "[41], Ma uses the nickname Pony, derived from the English translation of his family name Ma (), which means "horse. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. Still, Tencent has surged ahead and left national rivals like Baidu behind. Contact our London head office or media team here. In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. By 2016, it employed 40,000 people, up from 1,000 in 2004. 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. The founders like to be simple and dont like to be politicized. 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). How has he created the capacity to pivot in anticipation of and response to changes? 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. 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. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. He started off by improving his communication skills and also learned English. By Urban Woman. Internal battles, where two teams can According to Ma, "giving up is the greatest failure. By 1980, Gates managed to convince a large computer manufacturing multinational, IBM, to depend on Microsoft for every software related to personal computers (PCs). WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. Ma asks people to try bravely, without hesitation, which is how WeChat came about.
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