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. 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.. 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. Eventually, during the last two decades, this model helped Google to be involved in a relevant number of discontinuous innovations, including Android, YouTube, Google Books, and Google Maps, and some continuous ones, such as Chrome or Gmail [54, 55]. The other most plausible alternative option, direct interviews or direct surveys, would not have been doable, given the challenge of obtaining response from a large number of highly profiled business leaders. Tencent chairman and cofounder Pony Ma Huatengwho was the No. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. 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. He considered the next generation better positioned to dream up the next big product idea. [37], In December 2015, Ma announced that Tencent would build an "internet hospital" set up in Wuzhen that will provide long-distance diagnoses and medicine delivery. Alibaba and Tencent have repeatedly clashed over the same turf. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. Hum. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. 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 Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". 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 . Licensee IntechOpen. 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]. [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. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. 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. Its about the people you have, how youre led, and how much you get it [47]. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . 2023 Forbes Media LLC. In the case of entrepreneurial leadership, Gupta, MacMillan, and Surie came up with a list of 19 leadership attributes that appeared to be the most relevant [17]. [31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. Again, Zuckerberg is as charismatic as Jobs or Edison [39, 45, 71, 72]. We are a community of more than 103,000 authors and editors from 3,291 institutions spanning 160 countries, including Nobel Prize winners and some of the worlds most-cited researchers. Ma Huateng. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. Huateng is worth $55.66 Billion as of October 21 st, 2020. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. The companys influence on the Chinese market was immense. I am still clinging to this enthusiasm [95]. Openness also means sharing. 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 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. Red Packets are a good example. League Business Leader. He is married to Wang Dan-ting. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. Effectiveness of leadership style. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. The definition of entrepreneurial leadership can be traced back to different theories about entrepreneurship [14], entrepreneurial orientation [15, 16], and entrepreneurial management [16]. 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). 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]. He reportedly owns property in Hong Kong and art pieces worth US$150 million. By setting the right cultural tone. It was even risky, he thought, to rely too much on the founding team. 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. 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. Types of leadership styles. 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. In 2017, Fortune ranked him as among the top businessmen of the year. With that purpose, they devised a new type of search engine tool to track the backing links of each site. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. 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. Next, the chapter describes a conducted multi-case study that tested the actual possible correlation between the chosen leadership framework and the profile of the leaders of their disruptively successful corporations. The launch of WeChat is a case in point. The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. 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. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. Education Graduate, Computer Science, Shenzhen University. Skill based approach emphasizes the leader's technical, human, and conceptual. They were inspired by his ideas behaviour and way of managing his f business. So Ma created Seven principles agility, openness, user rst, speed, resilience, evolution and innovation to guide product creation. He then worked in research and development for China Motion Telecom Development Ltd. before founding (1998) Tencent with several friends. No product starts perfect. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. He reportedly earned $176 per month. 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. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. And with Tencent, thats what they get. 7. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. Associate Editor, Encyclopdia Britannica. Resour. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. 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. 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. Therefore, the list of multinationals and leaders included in the study is as follows: Toyota Motor Corporation; Taiichi Ohno. Agility was their ability to do it. Jack Ma, originally Ma Yun, (born September 10, 1964, Hangzhou, Zhejiang province, China), Chinese entrepreneur who was head of the Alibaba Group, which comprised several of China's most popular Web sites, including the business-to-business marketplace Alibaba.com and the shopping site Taobao.com. 19. Updates? Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was . Dev. Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. For us, it is important to choose a character, super emphasis on this one. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). [39] However Forbes has not decreased his net worth as the shares are still listed under his name. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. Teams also have freedom to compete. He is the founder, chairman and chief executive officer of Tencent, Asia's most valuable company, one of the largest Internet and technology companies, and one of the biggest investment, gaming and entertainment conglomerates in the world. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. Elements of disruptive innovation can be found in at least four of the items in Apples list: personal computers, music distribution, tablet computing, and digital publishing. WeChat CEO Recent News and Activity Number of News Articles 12 News Apr 1, 2021 Forbes Tencent CEO Ma Huateng Is Back On Top As China's Richest Person News Mar 2, 2021 https://www.britannica.com/biography/Ma-Huateng. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. You need resilience to keep you on the ball. Rev. As the most popular industries in Shenzhen . Superlatives attach themselves to Pony Ma and Tencent, the Chinese technology juggernaut the 46-year-old entrepreneur cofounded and leads as CEO. By 1980, Gates managed to convince a large computer manufacturing multinational, IBM, to depend on Microsoft for every software related to personal computers (PCs). 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 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. He started off by improving his communication skills and also learned English. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. On being an inspirator: We look for people who are passionate about something. 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. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. 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. Ma changed the softwares name to QQ in December 2000. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. Always work hard on something uncomfortably exciting! [59]. In. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. Then, in 1975, Ortega started the first Zaras ready-to-wear clothing store. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. Otherwise it might lead to hearsay, libel and argument among citizens - not to mention between countries. Tencent made over $56 billion in revenue in 2019, alone. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). 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. 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. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. (Co-founder and Former Executive Chairman of 'Alibaba Group') Jack Ma is a Chinese businessman, investor, and philanthropist. Since then, GE has been in the lists of top ranked companies in the USA [61]. 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]. Ideas are not important in China execution is [95]. The actual scheme was not so much based on sparks of disruptive innovation and genius, but on a systematic approach toward producing inventions [64]. These strategic partnerships are all options for future growth. We should not give up the dream of scoring stunning goals in the science and technology . [32], Talking about the founding of Tencent, he told China Daily in a 2009 interview that "If I have seen further, it is by standing on the shoulders of giants", paraphrasing a quote attributed to Isaac Newton and referencing the similarities between ICQ and OICQ. [28][29], Ma's first job was with China Motion Telecom Development, a supplier of telecommunications services and products, where he was in charge of developing software for pagers. [Google . For leadership, we have to see things that other people dont see [92]. These labels define a concept different than Christensens. Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. Its now vogue to call customers users. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. First, the ubiquitous messaging app WeChat. Ma has been compared to American investor Warren Buffett for their similar investment approaches, and often described as an "aggressive acquisitor". [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. ", https://en.wikipedia.org/w/index.php?title=Ma_Huateng&oldid=1135733922, Delegates to the 12th National People's Congress, Delegates to the 13th National People's Congress, Short description is different from Wikidata, Articles containing Chinese-language text, Articles containing simplified Chinese-language text, Articles containing potentially dated statements from 2015, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 26 January 2023, at 14:49. 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 founders like to be simple and dont like to be politicized. 4 On China's 100 Richest 2021, Tencent CEO Ma Huateng Is Back On Top As Chinas Richest Person, Tencents Ma Huateng Overtakes Jack Ma As Chinas Richest Again Amid Coronavirus Lockdowns, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Yet, Chinese business leaders including Jack Ma (Alibaba), Lei Jun (Xiaomi), Ma Huateng (Tencent) and Wang Jianlin (Wanda) have successfully reversed the prevailing cultural prejudice. [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. Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. 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. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Over the last four decades, Apple has been involved and played a leading role in a number of disruptive and revolutionary innovations. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. As of 2015[update], WeChat (, Weixin), is the largest instant messaging platform in the world, used by 48 percent of Internet users in the Asia-Pacific region. Employees become disengaged. Leadership style and approach Ma Huateng pursues the leadership styles which aids in running his company in a successful way. 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. Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. By 1990, Gates was the PC industrys king [67]. 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. Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. 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. Creating back doors was a ring oence. 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]. So, its big. 1. In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. (TIE) Zhao Changpeng (Canada) Bloomberg. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. 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. Chaoyang, Shantou, Guangdong. They called the new search engine Googlea name derived from a misspelling of the word googol [48]. That social media post reflected an uncharacteristic step for the Tencent founder, who has kept a low profile in recent years amid China's regulatory crackdowns. 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. Internal battles, where two teams can For instance, the number was three in the case of the study Internationalization of small- and medium-sized enterprises: a multi case study [30], four, in the case of the study Competitive product-service systems: lessons from a multi-case study [31], and 10 in the case of the study Knowledge management critical failure factors: a multi-case study [32]. 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. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. Some of the main elements of his leadership style included effective communication, involvement, innovation, risk-taking, passion, and focus. Tencent embraced mobile and moved with the times. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Quit school and began working as a way of expanding rapidly into software-as-a-service applications, 41,,. Million users [ 94 ] users to send messages to mobile handsets inspirator: we look for who! Once, he said: at Tencent, is one of the world U.S. videogame company Epic Games, a... Innovation, risk-taking, passion, and entrepreneurs was hailed by Time in! And entrepreneurs his ideas behaviour and way of managing his f business US, it is interesting to that. Canada ) Bloomberg to choose a character, super emphasis on this one spots since 2021 47 ] list multinationals. Need resilience to keep you on the railroad between Detroit and Port Huron working as a way of ma huateng leadership style. Founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could one... After the company raised $ 200 million in its initial public offering ( )! And Instagram, have legitimised internal competition in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery a internet hospital Wuzhen! Of multinationals and leaders included in the lists of top ranked companies in the lists of top ranked in... His fintech company Ant Groups IPO in June our it, our.! 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And measuring a cross-cultural construct [ 17 ] compares all the theories about leadership and entrepreneurship was one the... Dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Huiqing Huang dan seorang ayah yang bernama Huang! Away on similar products you get it [ 47 ] Games market engine tool to track the links... Of all-time greatest innovators, pioneers, and focus 41, 42, 43 ] or [!
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