[27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. Then again, innovation takes many forms. Unlike Western app constellations, Tencent combines as many features into one app as possible. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . Spain. Tencent's popular social messaging app WeChat has more than 1 billion users. We are still striving to create something really cool, trying to create things we couldnt even imagine without our new technologies. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. League Business Leader. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. Youve got no business in the workplace if you are just there to be there. And I think that same spirit can be put into products. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. 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. Best known as the brains behind the WeChat messaging app and Player Unknown's Battlegrounds (PUBG), Pony Ma is a man who knows how to turn an idea into hard cash. 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. We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. 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. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. 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. The battleground is vibrant. 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. 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. 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 3% of Tencent management is Hispanic or Latino. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. As organisations grow larger they often become insular and bureaucratic. This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. Reshma Saujani, as shown above, is a champion for girls and women. 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 Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. 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. After two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. Ma now sits atop the world's fth most valuable public rm, worth US$556 billion (402 billion). Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. 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. And how do we power our organization to really focus on that and really drive it at a high rate? [59]. Toward the end of the second world war, Taiichi Ohno worked as a production engineer for Toyota, a Japanese car manufacture founded in Japan by Kiichiro Toyoda in 1937 [83]. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. Home > Tencent is the collective answer to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon. 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. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. [43] References [ edit] Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. 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. Taobao did not charge a fee but made money from online services and advertising. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. Agility 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. Its now vogue to call customers users. 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. Ma has an ABC AI, big data and cloud expansion strategy. Ma believes this will bring him success and it will inspire people around him to work hard for achieving the goal. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. Net Worth $67.5 billion (As of March 01, 2021) Ma Huateng's Assets: Tencent Holdings. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. 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. Huateng is the chairman, founder, and CEO of Asia's most valuable company and also one of the largest internets and technology companies across the globe Tencent. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. They usually miss the future. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. 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]. Inditexs supply chain operations focus on three aspects: maximizing resources used, minimizing inventory, and minimizing lead times [78]. Including the selection of cadres, the character is very important. On being an inspirator: We look for people who are passionate about something. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. Two months later, one team presented WeChat, a text messaging and group chat software that was released in January 2011. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. 111, "Ranked: Most Powerful People In The World, 2020", "Tencent's Pony Ma is Asian tech spaces' new Warren Buffett", "Internet mogul Pony Ma named most generous Chinese philanthropist", "Tencent Rally Adds Billions to Chairman's Philanthropy Pile, Highlights China Influence", "China Billionaire Horse Race: Tencent's Ma Huateng Is Asia's Richest Again", "Asia's Tech Scene Gets a New Warren Buffett", "After Alibaba Holdings, Tencent makes first investment in Indian firm", "Asia's Richest Man Jack Ma Has Become Much Wealthier This Year - See The Number", "Tencent Chief Overtakes Wanda's Wang as China's Second-Richest Person", "Ma Huateng became one of the top 10 richest men in the world, surpassing Larry Page and Sergey Brin", "Tencent's Ma Huateng is China's second-richest man on WeChat mania", "Tencent's Ma becomes China's second-richest man", "Tencent: The Secretive, Chinese Tech Giant That Can Rival Facebook and Amazon", "Pony Ma Biography - life, family, name, young, born, time, year, Career, Sidelights - Newsmakers Cumulation", "Language Log A New Morpheme in Mandarin", "Tech in Asia - Connecting Asia's startup ecosystem", "Internet Users In Malaysia Are More Active On WhatsApp And Facebook Than Those In US, UK And China [REPORT]", "What are the next big things in the world of high technology? Past attempts at breaking the international market alone havent fared well. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. Nine is also a number in the range of similar studies conducted in the past. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. 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]. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. Leadership. Back in 2016, he reportedly . As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. 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]. By mlavoie on June 1, 2019. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. 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]. Tencent chairman and cofounder Pony Ma Huatengwho was the No. A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. 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. China, Tencent Holdings Limited; Ma Huateng. (TIE) Zhao Changpeng (Canada) Bloomberg. 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 . [31] In December 2000, Ma changed the name of the software to QQ (with "Q" and "QQ" used to stand for the word "cute").[35]. Enjoy reading!! [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. Its about the people you have, how youre led, and how much you get it [47]. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. Profiles. Under Mas guidance, it is shoring up its strategic options, investing in game-changing technologies set to be the next big thing. Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. That's why the need for online management is increasingly urgent. It can be observed that, in 89% of the cases, the leaders either outperform their already outperforming firms, in terms of value rankingsBill Gates, Mark Zuckerberg, Amancio Ortega or enjoy even more prestige and recognition than the companies that they started up. During the second quarter of 2020, the company posted net sales (revenue) of RMB 114.83 billion. 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. But Tencent came of age before mobile. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. Ma led his company's leadership committee on a two-day hike through the Gobi Desert for their off-site retreat last year, according to Bloomberg. 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. Tencent. Red Packets are a good example. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. Tencent had grown to become Chinas top instant messaging service by 2004, prompting Ma to list the firm on the Hong Kong Stock Exchange. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. BAT Baidu, Alibaba and Tencent are Chinas power gang. Thats why we allow those who understand the needs of younger users to do the job, said Ma. They write new content and verify and edit content received from contributors. 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. 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. 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. Within 2weeks, half of the students had signed up [74]. [3][4][5] The company develops China's biggest mobile instant messaging service, WeChat, and its subsidiaries provide media, entertainment, payment systems, smartphones, internet-related services, value-added services and online advertising services, both in China and globally. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. 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]. The launch of WeChat is a case in point. Tencent lost the case and had to relinquish the domain names. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. Employees share insights, software and entire bodies of code from other parts of the business. He is said to own property in Hong Kong as well as art worth $150 million. Our editors will review what youve submitted and determine whether to revise the article. Leadership Styles during Disruption: A Multi-Case Study Written By Alberto Abadia Submitted: July 8th, 2022 Reviewed: September 13th, 2022 Published: October 28th, 2022 DOI: 10.5772/intechopen.108029 IntechOpen Leadership - Advancing Great Leadership Practices and Good Leaders Edited by Joseph Crawford From the Edited Volume Inditexs business model, which is based on flexibility and speed, requires a vertically integrated value chain that differs greatly from that of other competitors, like Benetton and Mango. Email: A charismatic leader is a person, who has the ability to influence people and who, consequently, has some controlling power over them [9]. Tencent has 85,858 employees, of which 46 are in a leadership position. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. 2022 The Author(s). Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. He didnt have grand ambitions to build a great enterprise. Education Graduate, Computer Science, Shenzhen University. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was cofounder and CEO (1998 ) of Tencent Holdings Ltd., one of the worlds largest Internet companies. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. The trip meant to represent the culture of the . Tencent embraced mobile and moved with the times. [Google . He is the son of Ma Chenshu and Huang Huiqing. 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). Innovation has nothing to do with how many R&D dollars you have. Explore the Think at London Business School Hub. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. But imitation, when executed well, is a valid form of innovation. Amazons Je Bezos created a similar mandate in 2002. By giving the project the green light, Ma, in eect, gave Zhang full licence to cannibalise the existing QQ product. 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. As of January 2021, Ma is worth $46.8 billion which places him . 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. Yizhou Chen originated from government, therefore he took care of HR, legal, administration and government relations, Ma explained. Brief introduction to this section that descibes Open Access especially from an IntechOpen perspective, Want to get in touch? In 2017, Fortune ranked him as among the top businessmen of the year. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. To date our community has made over 100 million downloads. Shares of Ma Huateng's internet gaming giant rose 14% so far this year to the highest in two years, thanks to strong demand for its mobile games during coronavirus lockdowns. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. [8] Online games such as Legend of Yulong and Legend of Xuanyuan boosted revenue by more than half, up to US$5.1 billion, with a US$1.5 billion profit margin. Tencent is also the world's largest gaming company, and amongst the world's largest technology investors, social media networks, and web/mobile app makers. Evolution The resulting corporation was General Electric Company (GE) [61, 63]. Employees become disengaged. 3. 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]. Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. He reportedly earned $176 per month. Chinese internet entrepreneur (born 1971), "Bloomberg Billionaires Index: Ma Huateng", "Pony Ma, the global strategist with deep pockets", "Tencent posts 69 percent jump in quarterly net profit; becomes the most valuable company in Asia", Investing in China: The Emerging Venture Capital Industry, "The 100 Most Influential People in the World", Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders, Pg. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. 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? [10] Ma was a deputy to the Shenzhen Municipal People's Congress and a delegate in the 12th National People's Congress. Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. These two leadership styles shaped Tencent's markethierarchy orientation culture and teamwork\innovation orientation culture respectively. In China, you can have hundreds of competitors within the first hours of going live. By making research easy to access, and puts the academic needs of the researchers before the business interests of publishers. For us, it is important to choose a character, super emphasis on this one. Tencents immense success made Ma, who was widely referred to as Pony Ma (the nickname was a play on his surname, which means horse in Chinese), one of the wealthiest individuals in China. The conclusion of this article is beneficial to the firm and its leaders in terms of using leadership style to shape the culture, which corresponds to the stage of development and to promote the companys long-term development. His passions kept changing over the time. Google was started in 1998 in Menlo ParkCalifornia, USA. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Therefore, the framework that appeared to suit the best in terms of analyzing environments that combine entrepreneurship and innovation is that of visionary leadership [20, 21, 22]. Visionary leadership style. Please refer to the appropriate style manual or other sources if you have any questions. 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]. 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. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). With that purpose, they devised a new type of search engine tool to track the backing links of each site. Shenzhen also ranks at number 3 in China, and 4 in East Asia. First, the ubiquitous messaging app WeChat. On this Wikipedia the language links are at the top of the page across from the article title. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. If youve already registered, please log in. "[41], Ma uses the nickname Pony, derived from the English translation of his family name Ma (), which means "horse. WeChat hit most global markets in 2012. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. By 2015, QQ had 850 million monthly users [94]. Licensee IntechOpen. So what can the rest of the world learn from the man behind it all? Based on our data team's research, Ma Huateng is the Tencent's CEO. Please try again later. He red o an email and the next day a new software release was online. 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. Zhang was concerned that Kik or similar products could rival Tencents QQ. 19. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. 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]. He believes in leading a transformational leading style by giving an affable environment to his employees. 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]. Build a great enterprise first 15 multi-billionaires in the 12th National people 's Congress search tool... Purpose, they devised a new type of search engine tool to track the backing links of site... The second quarter of 2020, the character is very important people 's Congress and a yuan... Grow larger they often become insular and bureaucratic conducted in the 12th National people 's Congress Groups... Achieving the goal how many R & D dollars you have, how youre led, how! [ 91 ] Ma Huateng went on to co-found Tencent in 1998 in Menlo ParkCalifornia, ma huateng leadership style billion users least! 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