In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. Inditex produces a significant amount of its production in-house and makes sure that its own factories reserve 85% of their capacity for in-season adjustments [77]. On this Wikipedia the language links are at the top of the page across from the article title. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was . Its now vogue to call customers users. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. Effectiveness of leadership style. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. 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. North America, Western Europe and Eastern Asia, (2) the chosen corporations should be at the highest possible position in the rank of global top 100 companies as per market value [29], and (2) those firms should have become industry leaders in (a) a relatively short period of timeless than 20years, and (b) after leveraging some competitive advantage based on discontinuous innovation. Lizzy Caplan Bio, Age, Husband, Net Worth, Inside Job, Castle Rock, Movies, Tisha Campbell Bio, Age, Husband, Children, Uncoupled, Net, Movies, Cassi Davis Bio, Age, Family, Boyfriend, Net Worth, Movies, TV Shows. 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 [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. 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 . Ma asks people to try bravely, without hesitation, which is how WeChat came about. 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 himself was hailed by Time magazine in 2014 as one of the world's most influential people. Ma changed the softwares name to QQ in December 2000. While every effort has been made to follow citation style rules, there may be some discrepancies. By making research easy to access, and puts the academic needs of the researchers before the business interests of publishers. Nine is also a number in the range of similar studies conducted in the past. Its about the people you have, how youre led, and how much you get it [47]. Creating back doors was a ring oence. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). Then again, innovation takes many forms. It takes rapid iteration and even then, according to Ma, perfection is never reached. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. Visionary leadership style. 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. Tencent made over $56 billion in revenue in 2019, alone. 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. It has stakes in electric car maker Tesla and music-streaming service Spotify, which in turn has a stake in its Tencent Music. 6. 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]. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. Younger employees understand what people want. How Tencent CEO Pony Ma became the richest man in China . Ideas are not important in China execution is [95]. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). Dev. Tecent also operated the social networking site Qzone, which boasted more than 670 million monthly active users in 2015, making it the worlds third largest social network, behind only Facebook and YouTube. That gave Toyota an edge in terms of productivity and quality [86, 87]. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. Innovation "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Unlike other studies [1, 2, 3, 30, 31, 32], the presented multi-case study focuses on a very specific business context: that of the creation of exceptionally successful firms such as Apple, Google, Facebook, or Tencent. 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]. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. As for external competition, Tencent has experienced plenty. In those days, Toyota was much less productive than its Detroit-based competitors, the Big ThreeGeneral Motors, Ford, and Chrysler [83]. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. 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. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. My goal is for Google to lead, not follow that [59]. The Chinese government overly supported Tencent as a edgling rm, it benets from Beijings block on Facebook, Twitter and Google, and, in return for help, captures ever more data, they would claim. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. 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]. How has he created the capacity to pivot in anticipation of and response to changes? Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. Ma Huateng seldom appears in the media and is known for his secretive lifestyle. Ma quickly discovered that it was his job to keep bureaucracy at bay. Website: Biographyscoop.com He didnt have grand ambitions to build a great enterprise. Let us know if you have suggestions to improve this article (requires login). The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. Thats why we allow those who understand the needs of younger users to do the job, said Ma. Leadership. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. [5], Being one of "Fortune world's greatest leaders",[11] Ma is known for his low profile personality as compared to fellow Chinese businessman and Alibaba founder Jack Ma's outgoing personality. I am still clinging to this enthusiasm [95]. 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. Rev. Huateng is clearly a pioneer and innovator. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. Within 2weeks, half of the students had signed up [74]. With a click on a red envelope icon, gifts of money could be sent to friends and family. Ortega also is, as most of the previously analyzed leaders, an introvert. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. After his return to China, Ma founded China Pages, a website page developer for Chinese businesses. ", https://en.wikipedia.org/w/index.php?title=Ma_Huateng&oldid=1135733922, Delegates to the 12th National People's Congress, Delegates to the 13th National People's Congress, Short description is different from Wikidata, Articles containing Chinese-language text, Articles containing simplified Chinese-language text, Articles containing potentially dated statements from 2015, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 26 January 2023, at 14:49. He later managed a clothing store that catered to wealthy clients. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. Its headquarters is located in Shenzhen, China. Acad. Tencent has 85,858 employees, of which 46 are in a leadership position. 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. 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. Ma Huateng. On being an innovator: Invention is not enough. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. The companys 2017 annual revenues stood at almost 238 billion renminbi. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. Zhang set up an autonomous unit in Guangzhou, away from the Shenzhen headquarters. Ultimately, though, the combination of Onhos leadership and revolutionary innovation transformed Toyota from being an average car maker in Japan to becoming the number one global leader. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. 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. So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . 19. 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]. Chinese billionaire Jack Mas Ant Group won regulatory approval to boost the registered capital of its consumer finance unit by 10.5 billion yuan, a move suggesting progress in the fintech giants efforts to restructure its operations to satisfy authorities demands. Openness An interesting quote in terms of leadership styleas a paradigm of invention versus innovation in practiceis this one: In America, when you bring an idea to market, you usually have several months before competition pops up, allowing you to capture significant market share. 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