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 . By mlavoie on June 1, 2019. In 2017, Fortune ranked him as among the top businessmen of the year. 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? Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. 2 on China's 100 Richest last yearsaw his net worth tumble to $49.1 billion this year, as Beijing tightened rules on the countrys internet companies. Leadership. 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. Best known as the brains behind the WeChat messaging app and Player Unknown's Battlegrounds (PUBG), Pony Ma is a man who knows how to turn an idea into hard cash. League Business Leader. It takes rapid iteration and even then, according to Ma, perfection is never reached. And these products can be manufactured and given to people and they can sense that spirit [45]. He didnt want to lead, he said. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. 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. Alibaba and Tencent have repeatedly clashed over the same turf. User first Teams also have freedom to compete. There are few companiessimilar to Apple, Microsoft, or Googlethat are really disruptively successful over the span of, for instance, a decade, so it is not possible to collect enough samples as to conduct a statistical study. Tencent CEO Ma Huateng, also known as Pony Ma, started out making $176 a month and now has a net worth of $45 billion. London Business School takes your privacy seriously. Reclusive, secretive, and reserved are words frequently used to describe him. Huateng is worth $55.66 Billion as of October 21 st, 2020. It launched with a star-studded push, featuring among others footballing superstar Lionel Messi, but marketing doesnt work when the cost of switching is high. Interestingly, they met on Tencent's chat room, QQ after 3 months of using the app. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. It has stakes in electric car maker Tesla and music-streaming service Spotify, which in turn has a stake in its Tencent Music. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. Chaoyang, Shantou, Guangdong. China 2015, 20, 99-104. Tencent cofounder Ma Huateng (also known as Pony Ma) led the dive with a $6.1 billion wealth plunge, followed by Nongfu Spring Chairman Zhong Shanshans $5.6 billion and Country Garden Co-chairman Yang Huiyans $4.7 billion. (with Q and QQ used to stand for the word cute). Reshma Saujani, as shown above, is a champion for girls and women. 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]. 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. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. Miliao could only release one version per month, he noted. The couple has a daughter named Ma Manlin. The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. He reportedly earned $176 per month. Tencent's popular social messaging app WeChat has more than 1 billion users. We lack people with dreams, who can die for those dreams; For most people, they see and believe. This chapter is distributed under the terms of the Creative Commons Attribution 3.0 License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Both hubs developed a long list of innovations [53]. By 2015, QQ had 850 million monthly users [94]. By 1990, Gates was the PC industrys king [67]. The resulting corporation was General Electric Company (GE) [61, 63]. Mandi is an experienced writer on various topics with a passion for telling stories with words. But Tencent came of age before mobile. 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. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. If Tencents success in the early 2000s lets call it Tencent 1.0 was due to replication, that of Tencent 2.0 was down to incremental innovation. Tencent is also the world's largest gaming company, and amongst the world's largest technology investors, social media networks, and web/mobile app makers. From mobile payments to taxi hailing, users can live their lives on one app. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. On being a pioneer: In a world thats changing really quickly, the only strategy that is guaranteed to fail is not taking risks [75]. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. Manag. Effectiveness of leadership style. China, Tencent Holdings Limited; Ma Huateng. 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]. Tencent is the collective answer to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. He is married to Wang Dan-ting. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). 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. Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. Zhang set up an autonomous unit in Guangzhou, away from the Shenzhen headquarters. 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. Tencent has 85,858 employees, of which 46 are in a leadership position. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. Still, Tencent has surged ahead and left national rivals like Baidu behind. Pony Ma's leadership style can be as unusual as his nickname. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. At that time, Edison moved to New York City, where he initially partnered with Frank L. Pope, an electrical expert, and produced the Edison Universal Stock Printer [62]. Within 2weeks, half of the students had signed up [74]. Open Access is an initiative that aims to make scientific research freely available to all. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. Japan, Alibaba Group Holding Limited; Jack Ma. Autocratic leadership style. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. Feature comparison between studied firms and founders. [40], According to the official Tencent website, Ma is a deputy to the 5th Shenzhen Municipal People's Congress and served in the 12th National People's Congress. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. Profiles. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. All Rights Reserved. Regarding the second attribute of visionary leadership [18], which is supporting organized learning and growth within the organization, Jobs spoke eloquently about its importance, from his own point of view: The people who are doing the work are the moving force behind the Macintosh. 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. Facebook: thebiographyscoop The second is to look at professional ability and coordination, intelligence and so on. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). You need resilience to keep you on the ball. Then, in 1975, Ortega started the first Zaras ready-to-wear clothing store. Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. 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 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. Again, Zuckerberg is as charismatic as Jobs or Edison [39, 45, 71, 72]. Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". It is a system that says there is no limit to peoples creativity. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. Ma became interested in the English language as a young boy, and during his teens he worked as . Get started for FREE Continue. Ortega eats lunch with his employees in the company cafeteria. Satya Nadella is a leader on the risefor the last five years, he's served as the CEO of Microsoft, quickly earning a name for himself in the world beyond tech. The participative leadership style is highly effective in achieving the business goals and vision of the organization. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. Based on our data team's research, Ma Huateng is the Tencent's CEO. Later, the company provided users with a range of innovative online lifestyle services. These services included online media outlets, e-commerce outlets, gaming options, social media sites, online advertising, and an online payment option [94]. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Legend of Yulong and Legend of Xuanyuan, two online games, increased sales by more than half, to US$5.1 billion, with a profit margin of US$1.5 billion. April 6, 2021. 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. Long ago, Max Weber described charismatic authority in his book Economy and Society [8], where he identified it as one of three types of legitimate domination. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. He required complete openness and insisted that all Amazon teams plan and design service interfaces so they can be exposed to developers in the outside world. 3. 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. [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. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. With that purpose, they devised a new type of search engine tool to track the backing links of each site. Here's an overview of eight common leadership styles, from autocratic to visionary, with a look at the benefits and challenges of each style: 1. . [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Its about the people you have, how youre led, and how much you get it [47]. We believe, and then we see. Resilience 2. [12][13][14][15][16][17][18], As of January 2023, he has a net worth of US$43 billion according to Bloomberg Billionaires Index. Neat. Ma also has sharp design insight. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. If your idea of a good time is a euphoric party, now is the time for Dominica. Shares of Ma Huateng's internet gaming giant rose 14% so far this year to the highest in two years, thanks to strong demand for its mobile games during coronavirus lockdowns. They called the new search engine Googlea name derived from a misspelling of the word googol [48]. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. Resilience is all part of Mas mission to face down internal and external attackers. Inditex ranked 67 in the global top 100 as per market capitalization [29]. Ma has an ABC AI, big data and cloud expansion strategy. The companys influence on the Chinese market was immense. 18% of the management team is White. It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. 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. 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. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. Brief introduction to this section that descibes Open Access especially from an IntechOpen perspective, Want to get in touch? 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. By setting the right cultural tone. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. 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]. During the last two decades, there is an increasing number of leadership theories and frameworks. His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. 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. While its Western peers face further scrutiny on privacy, Tencent is less restricted. And how do we create it? Jack Ma. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. 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. 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