Reflects change since 5 pm ET of prior trading day. 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]. Under Ma s leadership, Tencent has moved into web portals, social networks, multi-player online games and e-commerce, making the company today an Internet powerhouse and China s number one brand. These labels define a concept different than Christensens. 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. Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. Ortega also is, as most of the previously analyzed leaders, an introvert. According to Ma, "giving up is the greatest failure. [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. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. 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. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. As of January 2021, Ma is worth $46.8 billion which places him . Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. In 2017, Fortune ranked him as among the top businessmen of the year. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. Tencent's popular social messaging app WeChat has more than 1 billion users. Pony Ma, the low-profile founder of tech giant Tencent Holdings, created a social media stir over the weekend by reposting an article on China's economy, an unusual breaking of silence by a . 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. Otherwise it might lead to hearsay, libel and argument among citizens - not to mention between countries. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. 2022 The Author(s). By setting the right cultural tone. Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. League Business 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. 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. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. At a tech conference in Singapore, I discussed censorship. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. Inditexs business model, which is based on flexibility and speed, requires a vertically integrated value chain that differs greatly from that of other competitors, like Benetton and Mango. Youve got no business in the workplace if you are just there to be there. Amancio Ortega, who was the one that directly conceived and engineered the above-mentioned business model, clearly is an innovator and a pioneer [18]. Website: Biographyscoop.com 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 . Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . I am still clinging to this enthusiasm [95]. Based on our data team's research, Ma Huateng is the Tencent's CEO. Ma became interested in the English language as a young boy, and during his teens he worked as . People dont go to Toyota to work, they go there to think [88]. On being an inspirator: We look for people who are passionate about something. Ma also has sharp design insight. All Rights Reserved. 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. 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]. 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]. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. Inditexs supply chain operations focus on three aspects: maximizing resources used, minimizing inventory, and minimizing lead times [78]. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. Net Worth $67.5 billion (As of March 01, 2021) Ma Huateng's Assets: Tencent Holdings. After the AOL case, Ma decided to expand the business portfolio of Tencent. A recurring leadership style in this paper is the transformational le adership style which, according to Northouse (2004), is "one of the current approaches to leadership that has been the focus of much research since the early 1980s" (p. 169). 4. Its hedging its future bets. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). He was born in 50 years old as of 29 October 2021. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. 2.2.2. On his role as a supporter of organized learning and growth inside the organization: My job as a leader is to make sure everybody in the company has great opportunities, and that they feel theyre having a meaningful impact and are contributing to the good of society. In 2010, Ma imitated Microsoft by forming two competitive engineering teams and assigning them the task of developing a new product. 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. Both hubs developed a long list of innovations [53]. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. By making research easy to access, and puts the academic needs of the researchers before the business interests of publishers. Ma is China's richest man, with a net . Leader influence on followers Jack Ma was a charismatic leader that influences his follows; they used to find his a credible source of information so they trust every word he says. 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. 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. Tencent. Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. He was born in 1971 in Chaoyang, Shantou, China. Education Graduate, Computer Science, Shenzhen University. 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? While its Western peers face further scrutiny on privacy, Tencent is less restricted. 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. He reportedly owns property in Hong Kong and art pieces worth US$150 million. But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. Ma now sits atop the worlds fth most valuable public rm, worth US$556 billion (402 billion). 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. 1. 3% of Tencent management is Hispanic or Latino. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . Huateng is clearly a pioneer and innovator. What do they fundamentally do wrong? Besides, the analyzed variables are not quantitative in nature. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. 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. Birth Details October 29, 1971 | Chaoyang, China. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. Mas visionary leadership is as uniquely prolific as that of Edison and Jobs. He reportedly owns property in Hong Kong and art pieces worth US$150 million. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. The couple has a daughter named Ma Manlin. By 2016, it employed 40,000 people, up from 1,000 in 2004. 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 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 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,. Its business roughly splits into three. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. Ma Huateng November 30 2022 Review Non-Fiction Influence Empire can Tencent negotiate China's shifting political winds? Speed The launch of WeChat is a case in point. Ma asks people to try bravely, without hesitation, which is how WeChat came about. Ma Huateng seldom appears in the media and is known for his secretive lifestyle. He considered the next generation better positioned to dream up the next big product idea. Rev. How Tencent CEO Pony Ma became the richest man in China . 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]. In 1956, Ohno visited the USA to learn their supply and inventory methods. He has an estimated net worth of 38.7 billion. To date our community has made over 100 million downloads. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. [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. He is the founder, chairman, and CEO of Tencent, which is China's most valuable company. Facebook was banned in China in July 2009, the same year WhatsApp launched. 4. 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. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. Tencent, which owns a stake in. It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. Yet, Chinese business leaders including Jack Ma (Alibaba), Lei Jun (Xiaomi), Ma Huateng (Tencent) and Wang Jianlin (Wanda) have successfully reversed the prevailing cultural prejudice. On being a pioneer: Lots of companies dont succeed over time. It is clear that Ma regularly uses a mix of Goleman's four important leadership style to create a positive climate within the Alibaba group. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. Ma quickly discovered that it was his job to keep bureaucracy at bay. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. Inditex ranked 67 in the global top 100 as per market capitalization [29]. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. 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 Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. 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. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. Based on the contingency leadership theory,this paper analyzes the leadership style of Ma Huateng and examines the impact of his leadership style evolution on Tencent culture.Ma's leadership style changed from transactional leadership to transformational leadership.These two leadership styles shaped Tencent's markethierarchy orientation culture Zhang was concerned that Kik or similar products could rival Tencents QQ. Speaking at the Tsinghua Management Global Forum in 2016, Ma pointed to Tencents early days as a classroom for culture. Another researcher, Bernard M. Bass, expanded on Burns work by describing the psychological mechanisms behind transforming leadership. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. Tencent lost the case and had to relinquish the domain names. Employees become disengaged. The rm also invested US$1.8 billion (1.3 billion) in Tesla. Multiple theorical and practical studies indicate that the longitudinal multi-case approach is the best one in terms of properly investigating the results of qualitative inputs [23, 24, 25, 26, 27, 28]. The interesting question is whether it needs to go global. 18% of the management team is White. 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]. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. Opps.. Something goes wrong. 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. So, its big. 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. 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. 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. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. Leadership style refers to the way the leaders represent their ways of running an organization. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). Our editors will review what youve submitted and determine whether to revise the article. 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. He also supports organized learning and growth inside of his firm. Its headquarters is located in Shenzhen, China. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. 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