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. 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. Since then, GE has been in the lists of top ranked companies in the USA [61]. For instance, the rst major chat app in China wasnt WeChat; it was Miliao, which was produced by Xiaomi. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. 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. Here's a countdown of the 20 richest people on the planet by net worth as of spring 2022, as well as a look at who was bounced from Forbes' 2021 list. 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. Tencent's popular social messaging app WeChat has more than 1 billion users. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. It has stakes in electric car maker Tesla and music-streaming service Spotify, which in turn has a stake in its Tencent Music. [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. [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. 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. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. Let us know if you have suggestions to improve this article (requires login). The definition of entrepreneurial leadership can be traced back to different theories about entrepreneurship [14], entrepreneurial orientation [15, 16], and entrepreneurial management [16]. Ma has been compared to American investor Warren Buffett for their similar investment approaches, and often described as an "aggressive acquisitor". Facebook: thebiographyscoop Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. 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. The concept of transformational leadership was introduced by James MacGregor Burns in his book Leadership [4] and then further developed in Transforming Leadership: A New Pursuit of Happiness [5]. 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. 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 . Thats why we allow those who understand the needs of younger users to do the job, said Ma. 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. 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. What is the profession of Ma Huateng? Two months later, one team presented WeChat, a text messaging and group chat software that was released in January 2011. What about Tencent 3.0? In June 2004, Tencent raised nearly US$200 million in the capital market [94]. Chaoyang, Shantou, Guangdong. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. 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. Then, in 1975, Ortega started the first Zaras ready-to-wear clothing store. Jack Ma. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. You need resilience to keep you on the ball. 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. Ma's leadership style changed from transactional leadership to transformational leadership. Reflects change since 5 pm ET of prior trading day. 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. He reportedly earned $176 per month. Superlatives attach themselves to Pony Ma and Tencent, the Chinese technology juggernaut the 46-year-old entrepreneur cofounded and leads as CEO. We lack people with dreams, who can die for those dreams; For most people, they see and believe. We believe, and then we see. Jade Scipioni @JadeScipioni. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. 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. 2. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. Chinas central bank, however, clamped down on the pilot in February 2018. Acad. Away from Chinas rewalled internet garden, you can live quite happily on a diet of other digital services. Teams also have freedom to compete. 2023 Forbes Media LLC. Youve got no business in the workplace if you are just there to be there. (sometimes unknowingly) work on variations of the same product lines, can create waste. 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. The World's 10 Most Powerful Executives This year's Forbes list (May 10, 2018) of the World Most Powerful included 75 namesone for every 100 million people on earth. 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. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. 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. The founders like to be simple and dont like to be politicized. 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. Chairman and CEO, Tencent Holdings. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. This is a few principles for us to select talent [95]. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. February 22, 2019. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. 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. 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]. As the founder of the entertainment giant Tencent, Ma Huateng (or Pony Ma, as he's better known) ranks as one of the richest people on the planet. 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]. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. 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 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. 3% of Tencent management is Hispanic or Latino. He considered the next generation better positioned to dream up the next big product idea. 4. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. 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]. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. 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. [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. So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . 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 Over the last four decades, Apple has been involved and played a leading role in a number of disruptive and revolutionary innovations. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. He is married to Wang Dan-ting. For leadership, we have to see things that other people dont see [92]. Ortega first applied this approach in a bathrobe business, Confecciones Goa, company that he founded in 1963. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. People dont go to Toyota to work, they go there to think [88]. Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. 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. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. 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. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. 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. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. Zhang set up an autonomous unit in Guangzhou, away from the Shenzhen headquarters. 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]. It was even risky, he thought, to rely too much on the founding team. 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. Pony Ma took his gaokao (national university entrance exams) from July 7-9, 1989 and his score was 739 (out of a possible 900). With a click on a red envelope icon, gifts of money could be sent to friends and family. 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. 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. Unlike other studies [1, 2, 3, 30, 31, 32], the presented multi-case study focuses on a very specific business context: that of the creation of exceptionally successful firms such as Apple, Google, Facebook, or Tencent. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. He is said to own property in Hong Kong as well as art worth $150 million. Tencents attention to speed has long had its rivals green. (with Q and QQ used to stand for the word cute). WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. Creating back doors was a ring oence. The software soon gained traction, with more than a million registered users by the end of 1999, making it one of Chinas most popular online services. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. 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. He didnt have grand ambitions to build a great enterprise. The internet sector in China is politically policed, but it is also lightly regulated. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. Both hubs developed a long list of innovations [53]. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. 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. 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. As a youth in A Corua, Galicia, in northwestern Spain, Amacio Ortega gained an entry into the garment business by working as a delivery boy for a mens shirt store and assistant in a tailors shop. China, Tencent Holdings Limited; Ma Huateng. So what can the rest of the world learn from the man behind it all? 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. ", 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. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. 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. At a tech conference in Singapore, I discussed censorship. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. The second is to look at professional ability and coordination, intelligence and so on. 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. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Taobao did not charge a fee but made money from online services and advertising. [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. (26.8 billion). He is the founder, chairman. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. [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. Mandi is an experienced writer on various topics with a passion for telling stories with words. Get started for FREE Continue. They dont have to unlearn bad habits. Also, it would be of interest to investigate how the visionary leaders and disruptive-innovation-based environments interact with each other and why this type of leadership helps produce such outstanding results. Therefore, the list of multinationals and leaders included in the study is as follows: Toyota Motor Corporation; Taiichi Ohno. Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. 1. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. Innovation By 1889, he had full ownership or participation in many electricity-related companies that got then merged. Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. Red Packets are a good example. Amancio Ortega, who was the one that directly conceived and engineered the above-mentioned business model, clearly is an innovator and a pioneer [18]. Another researcher, Bernard M. Bass, expanded on Burns work by describing the psychological mechanisms behind transforming leadership. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. He also supports organized learning and growth inside of his firm. Tecent also operated the social networking site Qzone, which boasted more than 670 million monthly active users in 2015, making it the worlds third largest social network, behind only Facebook and YouTube. With this high score, he would have been able to attend Tsinghua University in Beijing, or Fudan University in Shanghai. Internal battles, where two teams can Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. 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. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. 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 By 2015, QQ had 850 million monthly users [94]. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. 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. 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. . [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. Eventually, there is no assumption on what the results would have been or would be if some other of these frameworks would have been tested in the study. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. Ma Huateng - better known as "Pony Ma" - is the elusive founder, chairman and chief executive of China's titan tech rm Tencent. As of January 2021, Ma is worth $46.8 billion which places him . Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. Its business roughly splits into three. 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? He reportedly owns property in Hong Kong and art pieces worth US$150 million. If youve already registered, please log in. Googles beginnings were less humble than those of earlier Silicon Valley startups at the time, because the two founders were able to initially raise US$1 million US dollars [49]. Visionary leadership is comparable to Lewin's authoritative leadership style. 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]. And I think that same spirit can be put into products. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. 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. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. Manag. 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 4. 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. From mobile payments to taxi hailing, users can live their lives on one app. 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. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. 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