Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. [30] He also worked for Shenzhen Runxun Communications Co. Ltd. () in the research and development department for Internet calling services. Ideas are not important in China execution is [95]. If you havent registered yet, please register and log in. [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). Website: Biographyscoop.com Pony Ma, the low-profile founder of tech giant Tencent Holdings, created a social media stir over the weekend by reposting an article on China's economy, an unusual breaking of silence by a . [Nikola] Tesla invented the electric power we use, but he struggled to get it out to people. Its headquarters is located in Shenzhen, China. 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 We hope you enjoy our thought leadership. 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. Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. Gates is as introverted, similar to Larry Page [45, 55] and, definitively, he is not as charismatic as Steve Jobs [39, 45, 71, 72], but, still, he has been equally visionary. Reflects change since 5 pm ET of prior trading day. Larry Page met Sergey Brin when Larry entered the doctorate program at Stanford. He didnt want to lead, he said. Still, there are little doubts that Page congregates the four attributes that define a visionary leader, as several authors already validated in their studies [18, 57, 58]. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. Evolution at Tencent means the capability to improve, self-correct and stay focused. 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. It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. He didnt have grand ambitions to build a great enterprise. Reclusive, secretive, and reserved are words frequently used to describe him. Bill Gates, Mark Zuckerberg. If youve already registered, please log in. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. Since then, GE has been in the lists of top ranked companies in the USA [61]. Mas management style shifted from transactional to transformational leadership. [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). I try to focus on that: What is the future really going to be? Profiles. Tencent subsequently gained the backing of two overseas venture-capital firms, and in June 2004 the firm raised nearly $200 million when it went public on the Hong Kong stock exchange. [43] References [ edit] Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. As PhD students, we found it difficult to access the research we needed, so we decided to create a new Open Access publisher that levels the playing field for scientists across the world. Ineciencies and inertia creep in. By 2015, QQ had 850 million monthly users [94]. In. 2. In a way, it almost doesnt matter what youre passionate about [75]. Youve got no business in the workplace if you are just there to be there. Ortega eats lunch with his employees in the company cafeteria. In terms of actively supporting internal growth: When you go out into the workplace, you should be looking for things that you can do for your people there. Autocratic leadership style. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. 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]. 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]. Taobao did not charge a fee but made money from online services and advertising. Acad. The rm supports a mind-bending number of apps directed at improving peoples everyday digital lives, including its own version of Uber, Didi Dache. 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. With that purpose, they devised a new type of search engine tool to track the backing links of each site. Birth Details October 29, 1971 | Chaoyang, China. 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. 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. That gave Toyota an edge in terms of productivity and quality [86, 87]. 2023 Forbes Media LLC. (TIE) Zhao Changpeng (Canada) Bloomberg. 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. Always work hard on something uncomfortably exciting! [59]. To date our community has made over 100 million downloads. On being a pioneer: Lots of companies dont succeed over time. Ma completed his remaining schooling from there and found a keen interest in computer technologies. 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. And these products can be manufactured and given to people and they can sense that spirit [45]. Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". 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 new system made Toyota the car industry leader. 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]. Omissions? Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. The resulting corporation was General Electric Company (GE) [61, 63]. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. 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. Dev. What is the profession of Ma Huateng? In terms of being inspirational and a great team builder. 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. Tencent's popular social messaging app WeChat has more than 1 billion users. Ma quickly discovered that it was his job to keep bureaucracy at bay. 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. Ma himself . On being a pioneer: In a world thats changing really quickly, the only strategy that is guaranteed to fail is not taking risks [75]. By 1990, Gates was the PC industrys king [67]. 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]. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. [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. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. A widely accepted framework developed and tested by Conger and Kanungo [10, 11, 12, 13] defines four characteristics in charismatic leaders: (1) possessing and articulating a vision, (2) willing to take risk to achieve the vision, (3) exhibiting sensibility to the needs of followers, and (4) demonstrating noble behavior. 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. 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]. League Business Leader. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. 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. 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 two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. On the back of ballooning mobile use by 2012 China could boast that 89% of the population were users, more than in all European countries combined WeChat soared. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. He is the founder, chairman. Zhang was concerned that Kik or similar products could rival Tencents QQ. 18% of the management team is White. Tencent had grown to become Chinas top instant messaging service by 2004, prompting Ma to list the firm on the Hong Kong Stock Exchange. Within 2weeks, half of the students had signed up [74]. Resour. Ma quickly embraced open-source software. 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. 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. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. 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 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. 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. In those days, Toyota was much less productive than its Detroit-based competitors, the Big ThreeGeneral Motors, Ford, and Chrysler [83]. 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]. VR, AI you name it, Ma is buying stakes in it. He gives importance to the ideas and strategies given by his employees. Red Packets are a good example. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). 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 He has an estimated net worth of 38.7 billion. Ma now sits atop the world's fth most valuable public rm, worth US$556 billion (402 billion). Ma Huateng. A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. After his return to China, Ma founded China Pages, a website page developer for Chinese businesses. A self-confessed geek who trained in computer science, he knew about the tech people wanted to use. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. 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. After giving a quick review of state-of-the-art of the leadership research and theories [1], this chapter shortlists, briefly explains, and finally analyzes the candidate frameworks and chooses the apparently most suitable one. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. 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. The list includes personal computers, music distribution, tablet computing, mobile phones and digital publishing. What do they fundamentally do wrong? Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. His passions kept changing over the time. Ma Huateng has built Tencent through transformational leadership behaviours, including his vision of continuous innovation, encouragement of experimentation, and modelling that innovative spirit. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. Our editors will review what youve submitted and determine whether to revise the article. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. Creating back doors was a ring oence. And I think that same spirit can be put into products. Japan, Alibaba Group Holding Limited; Jack Ma. Feature comparison between studied firms and founders. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. Skill based approach emphasizes the leader's technical, human, and conceptual. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. London, SW7 2QJ, Google was started in 1998 in Menlo ParkCalifornia, USA. [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. Contact our London head office or media team here. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. By late 2015 QQ had approximately 850 million monthly active users, and WeChata mobile instant-messaging app that was first introduced in 2011had some 650 million users. In 2017 Tencent opened its rst data centre in Silicon Valley and announced plans for ve more outside China. 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 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. Its hedging its future bets. Tencent chairman and cofounder Pony Ma Huatengwho was the No. Zhang regaled the audience with the tale of how, one night during the launch, he needed an urgent product change. 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 . 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. Effectiveness of leadership style. Visionary leadership style. We lack people with dreams, who can die for those dreams; For most people, they see and believe. Its now vogue to call customers users. Open Access is an initiative that aims to make scientific research freely available to all. Only in the case of Larry Page, the achievements and profile of the leader appears to be, arguably, less remarkable than that of his own company. 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 Chinas central bank, however, clamped down on the pilot in February 2018. 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. As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. Ma and his co-founders built a digital platform business from scratch over two decades and they have one of the largest data treasure chests on the planet to show for it. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. These strategic partnerships are all options for future growth. Reshma Saujani, as shown above, is a champion for girls and women. Twitter: @BiographyScoop 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. 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. 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 sensed this threat: Some say that mobile internet just means adding mobile in front of the internet as an adjective, but I felt it was more than an extension. Associate Editor, Encyclopdia Britannica. 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. 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. 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? He is also a business leader. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . But imitation, when executed well, is a valid form of innovation. 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. Alibaba and Tencent have repeatedly clashed over the same turf. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. https://www.britannica.com/biography/Ma-Huateng. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products.
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