China 2015, 20, 99-104. [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. Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. 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]. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. 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. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. Ortega eats lunch with his employees in the company cafeteria. Contact our London head office or media team here. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. The internet sector in China is politically policed, but it is also lightly regulated. The other American companies ranked in-between in the original list were not disruptively successful ones e.g. Nine is also a number in the range of similar studies conducted in the past. 2004, 29, 222-240. Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. 2023 Forbes Media LLC. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. Still, there are little doubts that Page congregates the four attributes that define a visionary leader, as several authors already validated in their studies [18, 57, 58]. 4. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). And how do we power our organization to really focus on that and really drive it at a high rate? [59]. Visionary leadership is comparable to Lewin's authoritative leadership style. Away from Chinas rewalled internet garden, you can live quite happily on a diet of other digital services. He also supports organized learning and growth inside of his firm. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. Jade Scipioni @JadeScipioni. In 2017, Fortune ranked him as among the top businessmen of the year. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. 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. In China, you can have hundreds of competitors within the first hours of going live. Opps.. Something goes wrong. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. They dont have to unlearn bad habits. Ma Huateng is a proponent of the Chinese Communist Party. One former long-term CEO of Inditex, and Mr. Ortegas business partner for 31years, Jos Mara Castellano, says that his ex-bosss working method is to discuss things intensely with small groups, delegate paperwork, listen hard to others and prefer oral over written communication [79]. What do they fundamentally do wrong? Licensee IntechOpen. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. But Tencent came of age before mobile. 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 . 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]. FANGs Facebook, Amazon, Netix and Google preside happily over Silicon Valley. Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. He wanted, simply, to create excellent products and have the co-founders see a return on their investment: I focused on product and Tony Zhang focused on technology. Tencents earlier e orts include investing in the US-based Snapchat. Back in 2016, he reportedly . Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. Visionary leadership style. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. Zhang emailed Ma asking for permission to create a competitor to Kik Messenger, founded in 2009 by a group of students from the University of Waterloo in Canada. Tencent wants to enable greater connectivity across Chinese industry, leveraging the capabilities and expertise it has built to serve the billion-plus users of its consumer-facing platforms,. [19] Ma Huateng ranks fourth in the list of Forbes's China's 100 Richest, with a net worth of US$23.4 billion in December 2022. 7. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. 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. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. Creating back doors was a ring oence. 5 Princes Gate Court, In terms of being inspirational and a great team builder. Bill Gates, Mark Zuckerberg. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. The actual scheme was not so much based on sparks of disruptive innovation and genius, but on a systematic approach toward producing inventions [64]. During the second quarter of 2020, the company posted net sales (revenue) of RMB 114.83 billion. The resulting corporation was General Electric Company (GE) [61, 63]. What is the profession of Ma Huateng? Past attempts at breaking the international market alone havent fared well. The evidences all seem to point to a conclusion that Jack Ma is an effective leader who has a seemingly well-developed emotional intelligence and flexible leadership style. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. 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. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. 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. Googles beginnings were less humble than those of earlier Silicon Valley startups at the time, because the two founders were able to initially raise US$1 million US dollars [49]. (sometimes unknowingly) work on variations of the same product lines, can create waste. Leadership Styles during Disruption: A Multi-Case Study Written By Alberto Abadia Submitted: July 8th, 2022 Reviewed: September 13th, 2022 Published: October 28th, 2022 DOI: 10.5772/intechopen.108029 IntechOpen Leadership - Advancing Great Leadership Practices and Good Leaders Edited by Joseph Crawford From the Edited Volume 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 Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. 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. 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]. [31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. 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 So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. Ma Huateng adalah pengusaha yang merintis kariernya dari nol. He is married to Wang Dan-ting. 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. 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. On this Wikipedia the language links are at the top of the page across from the article title. After the AOL case, Ma decided to expand the business portfolio of Tencent. 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. Ma asks people to try bravely, without hesitation, which is how WeChat came about. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. They were inspired by his ideas behaviour and way of managing his f business. Effectiveness of leadership style. The software soon gained traction, with more than a million registered users by the end of 1999, making it one of Chinas most popular online services. Zhang was concerned that Kik or similar products could rival Tencents QQ. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. With this high score, he would have been able to attend Tsinghua University in Beijing, or Fudan University in Shanghai. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. The only large-enough Western European disruptively successful company that also met the criteria was the Spanish firm Inditexnumber 67 as per market capitalization [29]. So what can the rest of the world learn from the man behind it all? [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]. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. 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 his return to China, Ma founded China Pages, a website page developer for Chinese businesses. Email: Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. Based on our data team's research, Ma Huateng is the Tencent's CEO. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. [3][4][5] The company develops China's biggest mobile instant messaging service, WeChat, and its subsidiaries provide media, entertainment, payment systems, smartphones, internet-related services, value-added services and online advertising services, both in China and globally. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . 1. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. Zhang regaled the audience with the tale of how, one night during the launch, he needed an urgent product change. Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. 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. People dont go to Toyota to work, they go there to think [88]. 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. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. In the case of entrepreneurial leadership, Gupta, MacMillan, and Surie came up with a list of 19 leadership attributes that appeared to be the most relevant [17]. Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. This type of leadership is best used when there is a big change in the company or a clear direction is needed. As organisations grow larger they often become insular and bureaucratic. Mas management style shifted from transactional to transformational leadership. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. Chairman and CEO, Tencent Holdings. Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. User first 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 original term transformational already implies the existence of some entity that experiences transformation, and it is not so suitable in the context of completely new startups [7, 19]. Reclusive, secretive, and reserved are words frequently used to describe him. 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