Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. 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. You must be a registered user to add a comment here. 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. 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 Ma Huateng's fortune is derived from his 9.7 percent ownership of Tencent Holdings. In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. That's why the need for online management is increasingly urgent. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. Reclusive, secretive, and reserved are words frequently used to describe him. 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 . Internal battles, where two teams can How? 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. He is the founder, chairman. He is said to possess property in Hong Kong as well as art items worth . Toward the end of the second world war, Taiichi Ohno worked as a production engineer for Toyota, a Japanese car manufacture founded in Japan by Kiichiro Toyoda in 1937 [83]. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. Ma also has sharp design insight. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. The battleground is vibrant. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. 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. Younger employees understand what people want. Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. 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]. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. 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 Huateng. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. Always work hard on something uncomfortably exciting! [59]. Japan, Alibaba Group Holding Limited; Jack Ma. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. He reportedly owns property in Hong Kong and art pieces worth US$150 million. The company's first product came after Ma participated in a presentation for ICQ, the world's first Internet instant messaging service, founded in 1996 by an Israeli company. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. 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. Ma is China's richest man, with a net . 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. 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. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have From the very beginning, General Electric adopted an innovation development strategy similar to Googles. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. User first 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. Its hedging its future bets. 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. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. Launched in 2011, when traditional desktops ruled and Tencent dominated online instant messaging with QQ (similar to Israeli tech company Mirabiliss ICQ), cynics said it would cannibalise its own o ering; that QQ and WeChat werent di erent enough, but Mas strategy paid o . This reality implies that collective or organizational outputs may not always be prioritized or maximized, since that is not the main objective for this type of leaders [9]. Then, other manufacturers of IBM-compatible PCs also turned to Microsoft in search of its products. Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. 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. Email: The four models that were considered potentially suitable for a context of disruptive successtransformational, charismatic, entrepreneurial, and visionaryunderwent a further scrutiny in order to determine which one would better suit the context of disruptive success, as it is briefly described in the next paragraph. Yet few, in the West at least, have heard of it. Youve got to be looking for changes you can make for the benefit of the people who are working there [89]. But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. Part of WeChats early success was its likeness to WhatsApp and Kik, designed for the smartphone. Visionary leaders are those who inspire extraordinary levels of achievement in followers through an inspiring vision and through other behaviors [2]. We are a community of more than 103,000 authors and editors from 3,291 institutions spanning 160 countries, including Nobel Prize winners and some of the worlds most-cited researchers. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. Education Graduate, Computer Science, Shenzhen University. Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. 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. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. 4. [Photo by Tang Mingming/For China Daily] NPC deputy believes digital economy could become the engine driving China's next phase of development, affecting many sectors The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. After the AOL case, Ma decided to expand the business portfolio of Tencent. A self-confessed geek who trained in computer science, he knew about the tech people wanted to use. Zhang was concerned that Kik or similar products could rival Tencents QQ. Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. Effectiveness of leadership style. Leadership - Advancing Great Leadership Practices and Good Leaders [Working Title], Open access peer-reviewed chapter - ONLINE FIRST, Submitted: July 8th, 2022 Reviewed: September 13th, 2022 Published: October 28th, 2022, Total Chapter Downloads on intechopen.com. 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? Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Visionary leadership is comparable to Lewin's authoritative leadership style. We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. Alibabas business model bets a revolutionary innovation: Mas belief that the small-business-to-small-business online market offered much greater opportunity than the consumer-to-consumer one, the reason being that, unlike consumers, small businesses are willing to pay a membership fee [91]. 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. Tencent made over $56 billion in revenue in 2019, alone. 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. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . Because of his alternative approach to leadership, which BK is all about, we took a deep dive into what makes Nadella so special and why he's a leader to look . Some of the main elements of his leadership style included effective communication, involvement, innovation, risk-taking, passion, and focus. 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. [33], After AOL (America Online) bought ICQ in 1998, the company filed an arbitration against Tencent with the National Arbitration Forum in the United States, claiming that OICQ's domain names OICQ.com and OICQ.net were in violation of ICQ's trademark. 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? Ma Huateng November 30 2022 Review Non-Fiction Influence Empire can Tencent negotiate China's shifting political winds? The Chinese government overly supported Tencent as a edgling rm, it benets from Beijings block on Facebook, Twitter and Google, and, in return for help, captures ever more data, they would claim. He reportedly owns property in Hong Kong and art pieces worth US$150 million. An overwhelming percentage of the disruptively successful companies in the top 100 as per market capitalization are American and, mostly, they are located in Silicon Valley. He was born in 1971 in Chaoyang, Shantou, China. Dev. Huateng is clearly a pioneer and innovator. 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. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. And how do we create it? Resour. During the second quarter of 2020, the company posted net sales (revenue) of RMB 114.83 billion. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. Please refer to the appropriate style manual or other sources if you have any questions. Our editors will review what youve submitted and determine whether to revise the article. Northouse explained, "Transformational Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. Ma Huateng expressed that our basic research in science and technology is still weak, and we don't have many unique innovations. Chinese billionaire Jack Mas Ant Group won regulatory approval to boost the registered capital of its consumer finance unit by 10.5 billion yuan, a move suggesting progress in the fintech giants efforts to restructure its operations to satisfy authorities demands. Ideas are not important in China execution is [95]. Unlike Western app constellations, Tencent combines as many features into one app as possible. The study described in this chapter explores how some leadership models may be linked to some exceptional occurrences, such as disruptive success. This label can be applied to startups or more maturebut not yet elitecompanies that, at some point, grew fast and became world leaders in a period of less than 20years. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. Therefore, the list of multinationals and leaders included in the study is as follows: Toyota Motor Corporation; Taiichi Ohno. 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. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. While its Western peers face further scrutiny on privacy, Tencent is less restricted. 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. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. 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. By 2007, Taobao had a 67 percent market share in China and eBay sold its Chinese operations to the media consortium TOM Group. Its now vogue to call customers users. 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. [Nikola] Tesla invented the electric power we use, but he struggled to get it out to people. 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. Taobao did not charge a fee but made money from online services and advertising. 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. 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. From mobile payments to taxi hailing, users can live their lives on one app. Ma Huateng seldom appears in the media and is known for his secretive lifestyle. In 2017, Fortune ranked him as among the top businessmen of the year. How has he created the capacity to pivot in anticipation of and response to changes? Some Jobs words, recorded in the mentioned documentary Triumph of the Nerds [45], can give a sense of his ability for creating positive and inspirational visions [18]: To me, the spark of that (birth of personal computer industry in Silicon Valley in the early seventies) was that it was something beyond the sort of you see every day. On being a pioneer: Lots of companies dont succeed over time. Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. [32], Talking about the founding of Tencent, he told China Daily in a 2009 interview that "If I have seen further, it is by standing on the shoulders of giants", paraphrasing a quote attributed to Isaac Newton and referencing the similarities between ICQ and OICQ. How Tencent CEO Pony Ma became the richest man in China . Ma quickly embraced open-source software. If your idea of a good time is a euphoric party, now is the time for Dominica. Evolution 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. April 6, 2021. League Business Leader. He believes in leading a transformational leading style by giving an affable environment to his employees. Tencent has 85,858 employees, of which 46 are in a leadership position. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. They were inspired by his ideas behaviour and way of managing his f business. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. Tencent, which owns a stake in. [31] In December 2000, Ma changed the name of the software to QQ (with "Q" and "QQ" used to stand for the word "cute").[35]. Tencents attention to speed has long had its rivals green. As organisations grow larger they often become insular and bureaucratic. 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 . For instance, he described Toyota in the following way: The Toyota style is not to create results by working hard. Enjoy reading!! But theyre allergic to rules. In the case of the selected framework, the results are the ones that tell if this choice was right. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. 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. Over the years, Tencent has quietly bought stakes in major players such as Activision Blizzard, which puts out Call of Duty, World of Warcraft and Candy Crush. Tencent's popular social messaging app WeChat has more than 1 billion users. 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. Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. 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. (Co-founder and Former Executive Chairman of 'Alibaba Group') Jack Ma is a Chinese businessman, investor, and philanthropist. To date our community has made over 100 million downloads. Skill based approach emphasizes the leader's technical, human, and conceptual. 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. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. 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). Employees share insights, software and entire bodies of code from other parts of the business. Amazons Je Bezos created a similar mandate in 2002. The participative leadership style is highly effective in achieving the business goals and vision of the organization. [5], Being one of "Fortune world's greatest leaders",[11] Ma is known for his low profile personality as compared to fellow Chinese businessman and Alibaba founder Jack Ma's outgoing personality. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. 2.0Leadership Style of Pony Ma Huateng When starting-up of Tencent Company, Pony Ma was a transactional leader who leads his subordinates through transactions which is more emphasize on quality of product and the relationship with employees is more like in contract form. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. 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. 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. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. 2022 The Author(s). Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. Thats why we allow those who understand the needs of younger users to do the job, said Ma. Then again, innovation takes many forms. FANGs Facebook, Amazon, Netix and Google preside happily over Silicon Valley. Tencent chairman and cofounder Pony Ma Huatengwho was the No. In those days, Toyota was much less productive than its Detroit-based competitors, the Big ThreeGeneral Motors, Ford, and Chrysler [83]. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. The three most common leadership styles include skill based, trait based, and behavior based approaches. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. 6. 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 said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. 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]. It was even risky, he thought, to rely too much on the founding team. Wechat has more than 1 billion users described in this chapter explores how some leadership models be. 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