Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. The companys influence on the Chinese market was immense. 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. Wang Dan-ting is the wife of one of China's richest men, Ma Huateng, the founder of Tencent and QQ. Associate Editor, Encyclopdia Britannica. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. He dropped out of Reed College, in Portland, took a job at Atari Corporation as a videogame designer in early 1974, and saved enough money for a pilgrimage to India [39]. IntechOpen Limited Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. 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. 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. Not in China. 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. (sometimes unknowingly) work on variations of the same product lines, can create waste. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. 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. 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 Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. Employees become disengaged. In November 2017, his net worth briefly surpassed that of Larry Page and Sergey Brin (individually) ranking him the ninth richest man in the world, and the first citizen from China to enter Forbes' top 10 richest list,[20][21][22][23] though the net worth of Page and of Brin have each since eclipsed that of Ma. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. This chapter reviews relevant literature in order to identify the leadership framework and profile that may better characterize entrepreneurs and business leaders that eventually founded or developed disruptively successful firmspopularly known as unicorns. Next, the chapter describes a conducted multi-case study that demonstrates a strong correlation between the positive checkmarks in the selected leadership frameworkvisionary leadershipand the profile of the leaders of nine different international corporations that became industry leaders in less than 20years (Apple, Google, Microsoft, Facebook, General Electrics, Toyota, Alibaba, Tencent, and Inditex). Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. Contact our London head office or media team here. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. Ma quickly embraced open-source software. 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]. The three most common leadership styles include skill based, trait based, and behavior based approaches. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. From mobile payments to taxi hailing, users can live their lives on one app. And with Tencent, thats what they get. How has he created the capacity to pivot in anticipation of and response to changes? With that purpose, they devised a new type of search engine tool to track the backing links of each site. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. Effectiveness of leadership style. 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]. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. 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. From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. They grouped the remaining attributes into two enactments and five roles that would help the analysis in case that this one is the chosen leadership framework [17]. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. Jobs and Wozniak later designed a far better product, the Apple II [39]. During the next decade, Edison grew fast as successful mogul [62]. Bachelor of Arts/Science, Shenzhen University. It has stakes in electric car maker Tesla and music-streaming service Spotify, which in turn has a stake in its Tencent Music. [Google . 4 On China's 100 Richest 2021, Tencent CEO Ma Huateng Is Back On Top As Chinas Richest Person, Tencents Ma Huateng Overtakes Jack Ma As Chinas Richest Again Amid Coronavirus Lockdowns, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. For leadership, we have to see things that other people dont see [92]. 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. 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. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. Published Wed, Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST. A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. In 2004, Tencent launched an online gaming platform and started selling virtual goods to support the games published on that platform (weapons, gaming power), as well as emoticons and ringtones. 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 then worked in research and development for China Motion Telecom Development Ltd. before founding (1998) Tencent with several friends. Teams also have freedom to compete. 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]. 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]. We believe, and then we see. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. Ma Huateng - better known as "Pony Ma" - is the elusive founder, chairman and chief executive of China's titan tech rm Tencent. Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. Tencent has 85,858 employees, of which 46 are in a leadership position. Its headquarters is located in Shenzhen, China. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. The trip meant to represent the culture of the . *Address all correspondence to: alberto.aba@gmail.com. China is home to the world's second-largest number of billionaires after the United States. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. 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. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. 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 this Special Edition of the AIB Review, leading industry professionals and members of AIB's Marketing and Entrepreneurship faculty deep dive into the need-to-know industry trends and issues that lie ahead. 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. 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. Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. Miliao could only release one version per month, he noted. 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. Ma Huateng expressed that our basic research in science and technology is still weak, and we don't have many unique innovations. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. Back in 2016, he reportedly . 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. Birth Details October 29, 1971 | Chaoyang, China. 7. Over the last four decades, Apple has been involved and played a leading role in a number of disruptive and revolutionary innovations. Jack Ma Loses His $3 Billion Gain As Investors Worry About Alibabas Growth Outlook, Elusive Chinese Billionaire Jack Ma Spotted In Australia, Report Says, Get Away To Dominica For Mas Dominik Carnival Festival, Billionaire Jack Ma Reportedly Visits Hong Kong As Regulatory Pressure Eases In Mainland China, Jack Mas Ant Group Gets Regulatory Nod For $1.5 Billion Capital Increase Plan, Daily Dozen | Forbes: Nevada Sustains Lucky Streak; $50M Walmart Lawsuit; Jack Ma Resurfaces, Elusive Chinese Billionaire Jack Ma Living In Tokyo, Report Says, China Wealth Creation: New Realities In 2022, Wealthy Chinese Lead Home Purchases In Singapore, Sending Prices Soaring, Asias Former Richest Woman Sees Wealth Demolished By Chinas Property Woes, Alibabas Jack Ma Stays At No. As a world, were doing a better job of that. [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. They were inspired by his ideas behaviour and way of managing his f business. Ortega also is, as most of the previously analyzed leaders, an introvert. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. Including the selection of cadres, the character is very important. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. He is said to possess property in Hong Kong as well as art items worth . What is the profession of Ma Huateng? He believes in leading a transformational leading style by giving an affable environment to his employees. Otherwise it might lead to hearsay, libel and argument among citizens - not to mention between countries. Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. The internet sector in China is politically policed, but it is also lightly regulated. He applied the term transformational instead of transforming. Bass argued that transformational leadership has four constitutive parts [6, 7] which are (1) idealized influence, (2) inspirational motivation, (3) intellectual stimulation, and (4) individualized consideration. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. Its about the people you have, how youre led, and how much you get it [47]. 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? Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. 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 world's largest Internet companies. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. 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 now sits atop the worlds fth most valuable public rm, worth US$556 billion (402 billion). In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Younger employees understand what people want. 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]. VR, AI you name it, Ma is buying stakes in it. QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. Mas tolerance of failure is strategic. 10 principles for great leadership, according to Disney's Bob Iger. Facebook: thebiographyscoop On being a pioneer: In a world thats changing really quickly, the only strategy that is guaranteed to fail is not taking risks [75]. 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. Nationality Chinese. On being an inspirator: We look for people who are passionate about something. Email: Tencent CEO Ma Huateng, also known as Pony Ma, started out making $176 a month and now has a net worth of $45 billion. You need resilience to keep you on the ball. Here are further demographic highlights of the leadership team: The Tencent executive team is 50% female and 50% male. Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. This type of leadership is best used when there is a big change in the company or a clear direction is needed. Larry Page met Sergey Brin when Larry entered the doctorate program at Stanford. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). He is said to own property in Hong Kong as well as art worth $150 million. Youve got no business in the workplace if you are just there to be there. During the second quarter of 2020, the company posted net sales (revenue) of RMB 114.83 billion. He was born in 1971 in Chaoyang, Shantou, 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 Google was started in 1998 in Menlo ParkCalifornia, USA. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. BAT Baidu, Alibaba and Tencent are Chinas power gang. 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. Reshma Saujani, as shown above, is a champion for girls and women. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. The rm supports a mind-bending number of apps directed at improving peoples everyday digital lives, including its own version of Uber, Didi Dache. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. 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. League Business Leader. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. Agility was their ability to do it. Then again, innovation takes many forms. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. 4. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. London, SW7 2QJ, Tencent lost the dispute, and the domain names had to be relinquished. Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. The described multi-case study found the four attributes that define visionary leaders (creators of a positive and inspirational vision; supporters of organized learning and growth inside the organization; innovators; pioneers) in the nine studied cases. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). He summarised seven deadly sins of product managers, saying that developers undermine their products by convoluting them beyond recognition: Spending core resources and time repeatedly on the optimisation of the obvious characteristics is basically the mania of novice internet entrepreneurs.. However, the company failed to attain technological zeal and . 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]. Always work hard on something uncomfortably exciting! [59]. Its hedging its future bets. 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. Openness also means sharing. Jack Ma, the former English teacher who founded Alibaba, is the antithesis of his namesake: fting world leaders, setting bold targets and his penchant for shooting from the hip leave his minders. Visionaries may be the only ones that can actually provide some accurate guesses, and, at the same time, put together, motivate, and guide a team in the right direction. 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