Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. Profiles. China 2015, 20, 99-104. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. If your idea of a good time is a euphoric party, now is the time for Dominica. Types of leadership styles. Part of Mas deck-spreading strategy is to take Tencent worldwide, in line with the Chinese governments One Belt, One Road national grand plan. Northouse explained, "Transformational Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. Visionary leaders are those who inspire extraordinary levels of achievement in followers through an inspiring vision and through other behaviors [2]. 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. Ma Huateng. Zhang set up an autonomous unit in Guangzhou, away from the Shenzhen headquarters. Its business roughly splits into three. Under Mas guidance, it is shoring up its strategic options, investing in game-changing technologies set to be the next big thing. 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. 4. 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. Jack Ma. Tencent started based on a revolutionary innovation, Internet-based QQ service. The other American companies ranked in-between in the original list were not disruptively successful ones e.g. During the last two decades, there is an increasing number of leadership theories and frameworks. Tencent is the collective answer to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). [43] References [ edit] First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. 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. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. Innovation IntechOpen Limited 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. Then again, innovation takes many forms. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. Leadership. Therefore, Googles initial success was not based on disruptive innovation, but rather on revolutionary innovationthe development of relevancy ranking in the search engine sector [49, 50]. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. Tencents people are in search of excellence. Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. The couple has a daughter named Ma Manlin. 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. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. 1. On being an inspirator: We look for people who are passionate about something. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . 4. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. 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. With this high score, he would have been able to attend Tsinghua University in Beijing, or Fudan University in Shanghai. Tencent embraced mobile and moved with the times. 18% of the management team is White. Steve Jobs leadership style & personality. He started off by improving his communication skills and also learned English. The list includes personal computers, music distribution, tablet computing, mobile phones and digital publishing. Reflects change since 5 pm ET of prior trading day. 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. In terms of being inspirational and a great team builder. Another researcher, Bernard M. Bass, expanded on Burns work by describing the psychological mechanisms behind transforming leadership. Email: Gates is as introverted, similar to Larry Page [45, 55] and, definitively, he is not as charismatic as Steve Jobs [39, 45, 71, 72], but, still, he has been equally visionary. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. However, the company failed to attain technological zeal and . Explore the Think at London Business School Hub. On being a supporter of organized learning and growth inside the organization: I think as a company, if you can get those two things righthaving a clear direction on what you are trying to do and bringing in great people who can execute on the stuffthen you can do pretty well [75]. Ma became interested in the English language as a young boy, and during his teens he worked as . Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. https://www.britannica.com/biography/Ma-Huateng. The leader has grown Tencents using transformational leadership style, which is also in line with his vision in the direction of continuous innovation, encouraging employees to experiment and has provided a unique model to inculcate the innovative spirit. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. 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. Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. 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. Under Ma's leadership, Tencent has moved into web portals, social networks, multi-player games and e-commerce, making the company today an Internet powerhouse and China's number one brand. Resilience is all part of Mas mission to face down internal and external attackers. Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. Its not about money. 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. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. Besides, the analyzed variables are not quantitative in nature. During the next decade, Edison grew fast as successful mogul [62]. Leadership style and approach Ma Huateng pursues the leadership styles which aids in running his company in a successful way. Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. 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. 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]. During the second quarter of 2020, the company posted net sales (revenue) of RMB 114.83 billion. In 1956, Ohno visited the USA to learn their supply and inventory methods. Only in the case of Larry Page, the achievements and profile of the leader appears to be, arguably, less remarkable than that of his own company. It can be observed that, in 89% of the cases, the leaders either outperform their already outperforming firms, in terms of value rankingsBill Gates, Mark Zuckerberg, Amancio Ortega or enjoy even more prestige and recognition than the companies that they started up. We lack people with dreams, who can die for those dreams; For most people, they see and believe. Take the use of ID cards in China. [Nikola] Tesla invented the electric power we use, but he struggled to get it out to people. 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. 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. 10 principles for great leadership, according to Disney's Bob Iger. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. Google was started in 1998 in Menlo ParkCalifornia, USA. According to Ma, "giving up is the greatest failure. 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. 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). A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. No exceptions, said Bezos. 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. Its now vogue to call customers users. 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. One is Alibaba founder Jack Ma, who is fairly well known in the States, and the other is Ma Huateng, . 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. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). They called the new search engine Googlea name derived from a misspelling of the word googol [48]. Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. 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. Please note that by subscribing now you may from time to time receive other emails from LBS about events or other activities that we think might interest you. 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.. He can regularly be found sharing table on the factory floor with some of the designers, fabric experts and buyers [80]. Ma completed his remaining schooling from there and found a keen interest in computer technologies. 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. 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. These two leadership styles shaped Tencent's markethierarchy orientation culture and teamwork\innovation orientation culture respectively. Ma's leadership style changed from transactional leadership to transformational leadership. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. This is a few principles for us to select talent [95]. Omissions? 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 By 2007, Taobao had a 67 percent market share in China and eBay sold its Chinese operations to the media consortium TOM Group. (26.8 billion). Unshackled by rules, Tencent employees have freedom to act to invent, to problem solve, to wow. He was born in 1971 in Chaoyang, Shantou, China. Agility was their ability to do it. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. And I think that same spirit can be put into products. 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. How? Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. 6. Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". Amazons Je Bezos created a similar mandate in 2002. Employees share insights, software and entire bodies of code from other parts of the business. Dev. Yet few, in the West at least, have heard of it. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. Bill Gates, Mark Zuckerberg. London Business School takes your privacy seriously. 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. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. While every effort has been made to follow citation style rules, there may be some discrepancies. He is the founder, chairman. He is the son of Ma Chenshu and Huang Huiqing.
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