Thats why we allow those who understand the needs of younger users to do the job, said Ma. Ma Huateng - better known as "Pony Ma" - is the elusive founder, chairman and chief executive of China's titan tech rm Tencent. Zhang set up an autonomous unit in Guangzhou, away from the Shenzhen headquarters. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. Our editors will review what youve submitted and determine whether to revise the article. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). 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 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. 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. After two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. 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. 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. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). 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. Both hubs developed a long list of innovations [53]. For leadership, we have to see things that other people dont see [92]. Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. Innovation That gave Toyota an edge in terms of productivity and quality [86, 87]. 4. 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. [26] The product quickly became popular and garnered more than a million registered users by the end of 1999, making it one of the largest such services in China. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. 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]. 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]. This is related to our culture. As of January 2021, Ma is worth $46.8 billion which places him . Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. During the last two decades, there is an increasing number of leadership theories and frameworks. Ortega also is, as most of the previously analyzed leaders, an introvert. It is true that leadership is one of the 4 functions of management but that does not mean that all managers are effective leaders. Its headquarters is located in Shenzhen, China. And I think that same spirit can be put into products. 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. Huateng is worth $55.66 Billion as of October 21 st, 2020. 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. WeChat hit most global markets in 2012. During the next decade, Edison grew fast as successful mogul [62]. The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. On the opposite, transactional leaders, which frequently are less successful in terms of outcomes [5], usually adopt four possible approaches which are (1) contingency rewardrewards in exchange of support, (2) management by exception (active)monitoring and just acting when a corrective deed is necessary, (3) management by exception (passive)no monitoring and just acting when a corrective deed is necessary, and (4) laissez faireleadership avoidance [6, 7]. 2004, 29, 222-240. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. Speed Bill Gates clearly fits in the description of an innovator, a pioneer, and a supporter of organized learning and growth [45, 67, 71, 72, 73]. [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. Is it a legitimate global player? By setting the right cultural tone. Under Mas leadership Tencent greatly expanded its offerings to provide users with a range of what the company described as online lifestyle services. In addition to instant messaging, those services included e-commerce sites, online media outlets, gaming and other interactive entertainment, social networking sites, online advertising, and online payment processing. 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. Ma's leadership style changed from transactional leadership to transformational leadership. (26.8 billion). Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. Besides, the analyzed variables are not quantitative in nature. But Tencent came of age before mobile. Ma has an ABC AI, big data and cloud expansion strategy. By 2016, it employed 40,000 people, up from 1,000 in 2004. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Ma Huateng. One is Alibaba founder Jack Ma, who is fairly well known in the States, and the other is Ma Huateng, . Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. 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. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. The list includes personal computers, music distribution, tablet computing, mobile phones and digital publishing. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was . And with Tencent, thats what they get. Jack Ma, the cofounder of Chinese e-commerce giant Alibaba, is said be in Hong Kong to meet friends and finance executives, the Hong Kong Economic Times (HKET) reported on Friday, citing anonymous sources. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. Alibabas growth was fast. I try to focus on that: What is the future really going to be? 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). Some would say its part of the governments surveillance system that through contentious social credit scores, Tencent can ll a gap in Chinas nancial system by taking a big-brother lens to citizens purchasing behaviour. Part of Mas deck-spreading strategy is to take Tencent worldwide, in line with the Chinese governments One Belt, One Road national grand plan. 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. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. 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]. In that trip, he visited one of the supermarkets of the Piggly Wiggly chain [84, 85]. In 2016, Apple ranked number 1 in the world in terms of market capitalization. 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. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. 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. By 2007, Taobao had a 67 percent market share in China and eBay sold its Chinese operations to the media consortium TOM Group. [43] References [ edit] 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. Profiles. Ma now sits atop the world's fth most valuable public rm, worth US$556 billion (402 billion). Huateng is clearly a pioneer and innovator. 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? 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. 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]. For instance, he described Toyota in the following way: The Toyota style is not to create results by working hard. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. Ma is China's richest man, with a net . But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. Therefore, the list of multinationals and leaders included in the study is as follows: Toyota Motor Corporation; Taiichi Ohno. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. The idea was a watershed moment for Chinas mobile market, bringing more than eight million users to Tencents WeChat Payment platform in the rst eight days after the New Year. 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]. 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. If you havent registered yet, please register and log in. Corrections? It has stakes in electric car maker Tesla and music-streaming service Spotify, which in turn has a stake in its Tencent Music. Taobao did not charge a fee but made money from online services and advertising. 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. https://www.britannica.com/biography/Ma-Huateng. As the most popular industries in Shenzhen . Neat. Its hedging its future bets. After the AOL case, Ma decided to expand the business portfolio of Tencent. 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? Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. Reclusive, secretive, and reserved are words frequently used to describe him. 4. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. We are still striving to create something really cool, trying to create things we couldnt even imagine without our new technologies. Ma Huateng November 30 2022 Review Non-Fiction Influence Empire can Tencent negotiate China's shifting political winds? In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. [31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. What do they fundamentally do wrong? 2. Leadership. (sometimes unknowingly) work on variations of the same product lines, can create waste. He is said to own property in Hong Kong as well as art worth $150 million. Since that time, the principle of lean manufacturing has been adopted by many firms and industries [84, 86, 87]. 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. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. The rm also invested US$1.8 billion (1.3 billion) in Tesla. 18% of the management team is White. Agility was their ability to do it. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. Tencent lost the dispute, and the domain names had to be relinquished. The first chosen location was Menlo Park, in New Jersey. In regard of the reasons why this type of profile is required in the studied context, one may be the fact that, in the case of disruptive innovation, nobody, even clients, may be able to forecast or imagine items such as the final functions and aspect of the products, the expected demand, and other features. Jack Ma. China is home to the world's second-largest number of billionaires after the United States. 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 While its Western peers face further scrutiny on privacy, Tencent is less restricted. 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]. Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. (Co-founder and Former Executive Chairman of 'Alibaba Group') Jack Ma is a Chinese businessman, investor, and philanthropist. Its not about money. The trip meant to represent the culture of the . Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. Acad. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. 3% of Tencent management is Hispanic or Latino. In the case of the selected framework, the results are the ones that tell if this choice was right. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. 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 . 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. My goal is for Google to lead, not follow that [59]. Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. 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. It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. In 2017 Tencent became the rst Chinese rm to pass the US$500 billion stock market valuation mark, overtaking Facebook. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. 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. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. How? The internet sector in China is politically policed, but it is also lightly regulated. Ma Huateng's fortune is derived from his 9.7 percent ownership of Tencent Holdings. 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. The couple has a daughter named Ma Manlin. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. He was born in 50 years old as of 29 October 2021. 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. Dev. But Mas early focus was on what he knew. Books > League Business Leader. The second is to look at professional ability and coordination, intelligence and so on. He was born in 1971 in Chaoyang, Shantou, China. This can be effective in some cases, but it can also lead to resentment from followers who feel like they are not being given a voice. All Rights Reserved. As organisations grow larger they often become insular and bureaucratic. Agility 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 Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. [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. So, its big. Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. That's why the need for online management is increasingly urgent. Ma Huateng is a Chinese business entrepreneur and oligarch worth billions of dollars. Ma Huateng has built Tencent through transformational leadership behaviours, including his vision of continuous innovation, encouragement of experimentation, and modelling that innovative spirit. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. On being a pioneer: Lots of companies dont succeed over time. Amazons Je Bezos created a similar mandate in 2002. As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. Ma also has sharp design insight. Birth Details October 29, 1971 | Chaoyang, China. Updates? However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. 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]. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. 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. Tencent started based on a revolutionary innovation, Internet-based QQ service. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. By making research easy to access, and puts the academic needs of the researchers before the business interests of publishers. While the leadership style of Westerners haven't evolved much in the last decade, the new generation of Chinese leaders have made a great leap forward by . "[41], Ma uses the nickname Pony, derived from the English translation of his family name Ma (), which means "horse. Interestingly, they met on Tencent's chat room, QQ after 3 months of using the app. It was a revolution. Worth $ 46.8 billion which places him opportunity to learn telegraphy and, 2005... # x27 ; s leadership style changed from transactional leadership to transformational leadership e-commerce! 85 ] even imagine without our new technologies the second is to look at professional ability and,... His team put in place simple rules venture capital, and the other is ma Huateng is $... Its Chinese operations to the global party ) work on variations of the opportunity to telegraphy! 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