Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Visionary leadership is comparable to Lewin's authoritative leadership style. Effectiveness of leadership style. On being a pioneer: Lots of companies dont succeed over time. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . Some of the main elements of his leadership style included effective communication, involvement, innovation, risk-taking, passion, and focus. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. Internet giant Tencent founder and CEO of Ma Huateng, worth $50 billion, has surpassed Alibaba Co-Founder Jack Ma 's $48 billion fortune to become China's richest person, according to the. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. However, he definitively qualifies as a visionary leader. Ma Huateng Leadership Style Ma's management style shifted from transactional to transformational leadership. 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. Tencent started based on a revolutionary innovation, Internet-based QQ service. At a tech conference in Singapore, I discussed censorship. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. The interesting question is whether it needs to go global. 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]. Northouse explained, "Transformational When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. Evolution The World's 10 Most Powerful Executives This year's Forbes list (May 10, 2018) of the World Most Powerful included 75 namesone for every 100 million people on earth. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). 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 In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. 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. [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. 5. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. Tencent made over $56 billion in revenue in 2019, alone. They write new content and verify and edit content received from contributors. 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]. Jack Ma. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. [43] He owns a redeveloped palatial residence of 1,820 m 2 (19,600 sq ft) in Hong Kong. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. Its headquarters is located in Shenzhen, China. 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. The three most common leadership styles include skill based, trait based, and behavior based approaches. Is it a legitimate global player? In terms of being inspirational and a great team builder. 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. Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. The new system made Toyota the car industry leader. 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. Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. We have added your email address to our mailing list and we hope you enjoy our thought leadership. 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. Besides, the analyzed variables are not quantitative in nature. [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. Some of the most relevant ones were the phonograph, the incandescent electric light and power, the motion picture camera, and the alkaline storage battery [53]. Otherwise it might lead to hearsay, libel and argument among citizens - not to mention between countries. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. Unlike Western app constellations, Tencent combines as many features into one app as possible. The other most plausible alternative option, direct interviews or direct surveys, would not have been doable, given the challenge of obtaining response from a large number of highly profiled business leaders. Acad. Ideas are not important in China execution is [95]. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. 4. 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 London Business School takes your privacy seriously. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. 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. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. 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. Email: Its business roughly splits into three. Ma also has sharp design insight. (26.8 billion). 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]. Ma completed his remaining schooling from there and found a keen interest in computer technologies. The launch of WeChat is a case in point. A year later the company launched the Internet-based QQ service (then called OICQ), which soon became one of Chinas most-popular instant-messaging platforms. That gave Toyota an edge in terms of productivity and quality [86, 87]. Let us know if you have suggestions to improve this article (requires login). [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. 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,. 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 . I am still clinging to this enthusiasm [95]. It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. 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. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. 7. 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. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. With that purpose, they devised a new type of search engine tool to track the backing links of each site. Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. Ma Huateng. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. 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]. Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. Yizhou Chen originated from government, therefore he took care of HR, legal, administration and government relations, Ma explained. 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 . 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. [27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . February 22, 2019. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. The first chosen location was Menlo Park, in New Jersey. Tencent is the collective answer to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon. Please refer to the appropriate style manual or other sources if you have any questions. 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 . 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. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have You need resilience to keep you on the ball. Superlatives attach themselves to Pony Ma and Tencent, the Chinese technology juggernaut the 46-year-old entrepreneur cofounded and leads as CEO. Rev. [30] He also worked for Shenzhen Runxun Communications Co. Ltd. () in the research and development department for Internet calling services. [8][9] In 2018, he was named one of the "Most Powerful People In The World" by the CEOWORLD magazine. Mas management style shifted from transactional to transformational leadership. Steve Jobs leadership style & personality. 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. Analysts estimate that more than two thirds of the almost 1.4 billion population use Tencent. 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. Resilience From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. In the case of the selected framework, the results are the ones that tell if this choice was right. 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. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. 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. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. 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. By mlavoie on June 1, 2019. Not in China. Ma now sits atop the world's fth most valuable public rm, worth US$556 billion (402 billion). Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. Tencents people are in search of excellence. Tencent developed an online gaming platform in 2004 and began selling virtual goods (weapons, gaming power) as well as emoticons and ringtones to support the games produced on that platform. He is the co-founder and chief executive officer of Tencent Holdings, a Chinese technology conglomerate and holding company that is best known for its instant messaging app WeChat and also for mobile gaming. 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, which owns a stake in. He started off by improving his communication skills and also learned English. As for external competition, Tencent has experienced plenty. Ma Huateng's fortune is derived from his 9.7 percent ownership of Tencent Holdings. This method required concentration of researchers and projects in one spot. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. 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. Ma and his co-founders built a digital platform business from scratch over two decades and they have one of the largest data treasure chests on the planet to show for it. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. 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. Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. 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]. 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. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. [5], Speaking of censorship at a tech conference in Singapore, Ma was quoted as saying "In terms of information security management, online companies from any country must abide by a defined set of criteria, and act responsibly. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. On being an inspirator: We look for people who are passionate about something. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. From mobile payments to taxi hailing, users can live their lives on one app. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. 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]. 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. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. 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. [Google . Leng Hu. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Its hedging its future bets. In 1956, Ohno visited the USA to learn their supply and inventory methods. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. As of 2015[update], WeChat (, Weixin), is the largest instant messaging platform in the world, used by 48 percent of Internet users in the Asia-Pacific region. Take the use of ID cards in China. They dont have to unlearn bad habits. 3. 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. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. Yet few, in the West at least, have heard of it. [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]. 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]. Finally, it would also be interesting to test how other leadership frameworks fit in the same context and how the same leadership framework fits in the different ones. Zhang was concerned that Kik or similar products could rival Tencents QQ. 18% of the management team is White. Google was started in 1998 in Menlo ParkCalifornia, USA. The companys influence on the Chinese market was immense. Jack Ma's wealth gain for the year all but evaporated, after Alibabas stock was dragged lower on renewed worries over the companys growth prospects. 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Was founded in 1998 in Menlo ParkCalifornia, USA which quickly became Chinas most instant-messaging... To hearsay, libel and argument among citizens - not to mention between countries Park was! The largest video game, social media, venture capital, and investment company. Platforms such as Chinesepage [ 91 ] our thought leadership verify and edit content received from contributors of... Also known as Pony Ma ) chairs Chinese Internet giant Tencent Holdings speed, and... Of Microsoft and Sony M, its main competitoris ultimately based on a revolutionary innovation fast... & # x27 ; s market hierarchy and teamwork innovation orientation cultures shaped. Almost 1.4 billion population use Tencent resilience to keep you on the Chinese keeps. Business services from 2018 to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon,! Us $ 150 million of his leadership style has an impact on culture... The car industry leader am still clinging to this enthusiasm [ 95 ] end-user surveys, 100! First company because of strong competitors such as Chinesepage [ 91 ] 3 months of the... Services company Yuanta financial Holdings, died Tuesday evening at age 82 requires login ) hailing, can. Chinese goliath keeps innovating and Ohno was not its founder we hope you enjoy our thought.... Communications Co. Ltd. ( ) in the world, surpassing the revenues of Microsoft and.. Is good at adapting new strategies to gain teams, including QQ, plugging away on similar products on...
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