They usually miss the future. 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 . His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. 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. 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). Ma's leadership style changed from transactional leadership to transformational leadership. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. Tencent's popular social messaging app WeChat has more than 1 billion users. Licensee IntechOpen. Including the selection of cadres, the character is very important. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. How Tencent CEO Pony Ma became the richest man in China . Tencents people are in search of excellence. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. And how do we create it? It was a revolution. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. The companys influence on the Chinese market was immense. Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. Our editors will review what youve submitted and determine whether to revise the article. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. FANGs Facebook, Amazon, Netix and Google preside happily over Silicon Valley. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. (sometimes unknowingly) work on variations of the same product lines, can create waste. However, he definitively qualifies as a visionary leader. This is related to our culture. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. Ma now sits atop the world's fth most valuable public rm, worth US$556 billion (402 billion). However, less work has been done in terms of determining which frameworks would suit better some particular organizational outputs. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. 3% of Tencent management is Hispanic or Latino. Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. Japan, Alibaba Group Holding Limited; Jack Ma. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. Northouse explained, "Transformational In 2000, Ma turned to US investment firm IDC and Hong Kong's telecom carrier Pacific Century CyberWorks (PCCW) who bought 40 percent of Tencent's shares for US$2.2 million. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). [31] Inspired by the idea, Ma and his team launched in February 1999 a similar software, with a Chinese interface and a slightly different name OICQ (or, Open ICQ). Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. Mas management style shifted from transactional to transformational leadership. Alibaba and Tencent have repeatedly clashed over the same turf. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. [Google . A strategy of continuous renewal Logical incrementalism All five leaders had a clear sense of where they wanted to lead their companies but theirs was not a grand vision, rather a sequence of goals Tencent lost the case and had to relinquish the domain names. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. Ma Huateng Leadership Style Ma's management style shifted from transactional to transformational leadership. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. Younger employees understand what people want. People dont go to Toyota to work, they go there to think [88]. Speed Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. So, its big. Entrepreneurial Leadership is that leadership that creates visionary scenarios that are used to assemble and mobilize a supporting cast of participants who become committed by the vision to the discovery and exploitation of strategic value creation [17]. 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. [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. Leader influence on followers Jack Ma was a charismatic leader that influences his follows; they used to find his a credible source of information so they trust every word he says. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. 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. Its not about money. He is the founder, chairman. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. Always work hard on something uncomfortably exciting! [59]. Evolution at Tencent means the capability to improve, self-correct and stay focused. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. 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]. Tencent chairman and cofounder Pony Ma Huatengwho was the No. 2023 Forbes Media LLC. Ma also has sharp design insight. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. That's why the need for online management is increasingly urgent. And with Tencent, thats what they get. We have added your email address to our mailing list and we hope you enjoy our thought leadership. 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. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. 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. Enjoy reading!! From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. 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. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. 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. Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. Nine was the maximum number of samples in the list that allowed to keep a reasonable geographical balance across several geographic realms without mixing firms that were not really comparable in terms of size or level of achievements. During the 2014 Chinese Lunar New Year celebrations, Tencent built on the ancient custom of giving red envelopes lled with money to boost trac on WeChats mobile payments platform. 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. After purchasing ICQ in 1998, AOL initiated an arbitration against Tencent with the National Arbitration Forum in the United States, alleging that OICQs domain names OICQ.com and OICQ.net were infringing on ICQs trademark. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. 4. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. Our team is growing all the time, so were always on the lookout for smart people who want to help us reshape the world of scientific publishing. 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. Ma Huateng is a Chinese business entrepreneur and oligarch worth billions of dollars. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. That gave Toyota an edge in terms of productivity and quality [86, 87]. Types of leadership styles. Explore the Think at London Business School Hub. 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 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 . China, Tencent Holdings Limited; Ma Huateng. Brief introduction to this section that descibes Open Access especially from an IntechOpen perspective, Want to get in touch? 4. 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. Facebook: thebiographyscoop 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. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. Interestingly, they met on Tencent's chat room, QQ after 3 months of using the app. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. As organisations grow larger they often become insular and bureaucratic. These labels define a concept different than Christensens. Then, in 1975, Ortega started the first Zaras ready-to-wear clothing store. On being a supporter of organized learning and growth inside the organization: I think as a company, if you can get those two things righthaving a clear direction on what you are trying to do and bringing in great people who can execute on the stuffthen you can do pretty well [75]. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. Shenzhen also ranks at number 3 in China, and 4 in East Asia. 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. He reportedly earned $176 per month. China 2015, 20, 99-104. 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? 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 option of the multi-case approach for the testing is the most fitting in the explained context, given the limited number of possible samples and the unquantifiable nature of the analysis. After two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. 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]. 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. 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]. 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 Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. We hope you enjoy our thought leadership. So Ma created Seven principles agility, openness, user rst, speed, resilience, evolution and innovation to guide product creation. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Pony Ma took his gaokao (national university entrance exams) from July 7-9, 1989 and his score was 739 (out of a possible 900). Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. 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. In China, you can have hundreds of competitors within the first hours of going live. QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. In 1999, Alibaba Group, an online trading company, was established by Jack Ma, a former English teacher, in Hangzhou City, China [90]. Effectiveness of leadership style. 5. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. He reportedly owns property in Hong Kong and art pieces worth US$150 million. 10 principles for great leadership, according to Disney's Bob Iger. The definition of entrepreneurial leadership can be traced back to different theories about entrepreneurship [14], entrepreneurial orientation [15, 16], and entrepreneurial management [16]. Multiple theorical and practical studies indicate that the longitudinal multi-case approach is the best one in terms of properly investigating the results of qualitative inputs [23, 24, 25, 26, 27, 28]. 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. BAT Baidu, Alibaba and Tencent are Chinas power gang. 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. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. 18% of the management team is White. Unshackled by rules, Tencent employees have freedom to act to invent, to problem solve, to wow. A year later the company launched the Internet-based QQ service (then called OICQ), which soon became one of Chinas most-popular instant-messaging platforms. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. He red o an email and the next day a new software release was online. Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. 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