[39] However Forbes has not decreased his net worth as the shares are still listed under his name. UNITED KINGDOM, Leadership - Advancing Great Leadership Practices and Good Leaders, Leadership - Advancing Great Leadership Practices and Good Leaders [Working Title], Ranked in the list of the 20 most influential Americans of all times [, Ranked in the top of the greatest innovators of all times according to the Lemelson-Mit Invention Index [, Lean manufacturing, Just-In-Time (JIT), and derivative approaches created by Ohno are still currently used by a large percentage of manufacturing firms [, Industria de Diseo Textil, S.A. (Inditex). China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. What do they fundamentally do wrong? 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. All Rights Reserved. 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.. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. Bachelor of Arts/Science, Shenzhen University. 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. Ma now sits atop the world's fth most valuable public rm, worth US$556 billion (402 billion). Tencents people are in search of excellence. [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]. 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. From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. 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. Profiles. Jack Ma, the cofounder of Chinese e-commerce giant Alibaba, is said be in Hong Kong to meet friends and finance executives, the Hong Kong Economic Times (HKET) reported on Friday, citing anonymous sources. The conclusion of this article is beneficial to the firm and its leaders in terms of using leadership style to shape the culture, which corresponds to the stage of development and to promote the companys long-term development. What is the profession of Ma Huateng? And how do we power our organization to really focus on that and really drive it at a high rate? [59]. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. Ma Huateng is a proponent of the Chinese Communist Party. [26] The product quickly became popular and garnered more than a million registered users by the end of 1999, making it one of the largest such services in China. 1. Mas management style shifted from transactional to transformational leadership. 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]. Internal battles, where two teams can 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. Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. Agility This is a few principles for us to select talent [95]. These strategic partnerships are all options for future growth. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. Eventually, during the last two decades, this model helped Google to be involved in a relevant number of discontinuous innovations, including Android, YouTube, Google Books, and Google Maps, and some continuous ones, such as Chrome or Gmail [54, 55]. Google was started in 1998 in Menlo ParkCalifornia, USA. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. Ma believes this will bring him success and it will inspire people around him to work hard for achieving the goal. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. After purchasing ICQ in 1998, AOL initiated an arbitration against Tencent with the National Arbitration Forum in the United States, alleging that OICQs domain names OICQ.com and OICQ.net were infringing on ICQs trademark. 3% of Tencent management is Hispanic or Latino. 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]. Both hubs developed a long list of innovations [53]. 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. 4. 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]. 2.0Leadership Style of Pony Ma Huateng When starting-up of Tencent Company, Pony Ma was a transactional leader who leads his subordinates through transactions which is more emphasize on quality of product and the relationship with employees is more like in contract form. Ma quickly embraced open-source software. (sometimes unknowingly) work on variations of the same product lines, can create waste. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. I try to focus on that: What is the future really going to be? The first chosen location was Menlo Park, in New Jersey. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. 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. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. 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. Visionary leadership is comparable to Lewin's authoritative leadership style. We are a community of more than 103,000 authors and editors from 3,291 institutions spanning 160 countries, including Nobel Prize winners and some of the worlds most-cited researchers. 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. Let us know if you have suggestions to improve this article (requires login). The interesting question is whether it needs to go global. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. 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. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. Resour. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. It was even risky, he thought, to rely too much on the founding team. Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. The power of cross-cultural collaboration, Leading digital transformation: what you must know, Discover fresh perspectives and research insights from LBS. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. But Tencent came of age before mobile. Here's an overview of eight common leadership styles, from autocratic to visionary, with a look at the benefits and challenges of each style: 1. In terms of being inspirational and a great team builder. It has stakes in electric car maker Tesla and music-streaming service Spotify, which in turn has a stake in its Tencent Music. Tencent subsequently gained the backing of two overseas venture-capital firms, and in June 2004 the firm raised nearly $200 million when it went public on the Hong Kong stock exchange. Jade Scipioni @JadeScipioni. Bill Gates, Mark Zuckerberg. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . Ma's leadership style changed from transactional leadership to transformational leadership. Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. Contact our London head office or media team here. My goal is for Google to lead, not follow that [59]. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. 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. London, SW7 2QJ, On February 4, 2004, Mark Zuckerberg, a Harvard student, launched the facebook.com, a directory in which fellow students entered their information and photos into a template. Get started for FREE Continue. Ideas are not important in China execution is [95]. By making research easy to access, and puts the academic needs of the researchers before the business interests of publishers. The three most common leadership styles include skill based, trait based, and behavior based approaches. Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. A self-confessed geek who trained in computer science, he knew about the tech people wanted to use. Take the use of ID cards in China. Leadership. However, the company failed to attain technological zeal and . 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]. 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. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. On being a pioneer: Lots of companies dont succeed over time. 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. 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. Tencent chairman and cofounder Pony Ma Huatengwho was the No. 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]. The participative leadership style is highly effective in achieving the business goals and vision of the organization. Satya Nadella is a leader on the risefor the last five years, he's served as the CEO of Microsoft, quickly earning a name for himself in the world beyond tech. Tencent launched its own portal (QQ.com) in 2003 and entered the online games sector. While the leadership style of Westerners haven't evolved much in the last decade, the new generation of Chinese leaders have made a great leap forward by . 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). So what can the rest of the world learn from the man behind it all? In 2000, Ma turned to US investment firm IDC and Hong Kong's telecom carrier Pacific Century CyberWorks (PCCW) who bought 40 percent of Tencent's shares for US$2.2 million. 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. 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 . [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). Its not about money. After the AOL case, Ma decided to expand the business portfolio of Tencent. This type of leadership is best used when there is a big change in the company or a clear direction is needed. In 2017 Tencent opened its rst data centre in Silicon Valley and announced plans for ve more outside China. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. Part of WeChats early success was its likeness to WhatsApp and Kik, designed for the smartphone. Entrepreneurial Leadership is that leadership that creates visionary scenarios that are used to assemble and mobilize a supporting cast of participants who become committed by the vision to the discovery and exploitation of strategic value creation [17]. Ma Huateng is a Chinese business entrepreneur and oligarch worth billions of dollars. Always work hard on something uncomfortably exciting! [59]. No exceptions, said Bezos. Yizhou Chen originated from government, therefore he took care of HR, legal, administration and government relations, Ma explained. Leng Hu. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. [Photo by Tang Mingming/For China Daily] NPC deputy believes digital economy could become the engine driving China's next phase of development, affecting many sectors 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. How Tencent CEO Pony Ma became the richest man in China . 2.2.2. 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. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. 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