In 2017, Fortune ranked him as among the top businessmen of the year. Yizhou Chen originated from government, therefore he took care of HR, legal, administration and government relations, Ma explained. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. 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. Thats why we allow those who understand the needs of younger users to do the job, said Ma. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. No exceptions, said Bezos. Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. [40], According to the official Tencent website, Ma is a deputy to the 5th Shenzhen Municipal People's Congress and served in the 12th National People's Congress. [10] Ma was a deputy to the Shenzhen Municipal People's Congress and a delegate in the 12th National People's Congress. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. But theyre allergic to rules. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. Some would say its part of the governments surveillance system that through contentious social credit scores, Tencent can ll a gap in Chinas nancial system by taking a big-brother lens to citizens purchasing behaviour. First, the ubiquitous messaging app WeChat. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. How Tencent CEO Pony Ma became the richest man in China . The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. Facebook was banned in China in July 2009, the same year WhatsApp launched. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. Huateng is clearly a pioneer and innovator. So Ma created Seven principles agility, openness, user rst, speed, resilience, evolution and innovation to guide product creation. This is a few principles for us to select talent [95]. 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]. Several quotes from Larry Page that highlight his visionary skills are as follows: On being an inspirator: What is the one-sentence summary of how you change the world? Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. Tencent's popular social messaging app WeChat has more than 1 billion users. ", 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. With that purpose, they devised a new type of search engine tool to track the backing links of each site. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. In 1975 William Henry Gates IIIknown as Bill Gates, a student then at Harvard University, and his friend, Paul Allen, partnered and founded a developing software company, called Microsoft [66]. Its about the people you have, how youre led, and how much you get it [47]. He also supports organized learning and growth inside of his firm. 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. According to Ma, "giving up is the greatest failure. 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. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). A widely accepted framework developed and tested by Conger and Kanungo [10, 11, 12, 13] defines four characteristics in charismatic leaders: (1) possessing and articulating a vision, (2) willing to take risk to achieve the vision, (3) exhibiting sensibility to the needs of followers, and (4) demonstrating noble behavior. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. Speaking at the Tsinghua Management Global Forum in 2016, Ma pointed to Tencents early days as a classroom for culture. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Open Access is an initiative that aims to make scientific research freely available to all. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. In 2017 Tencent became the rst Chinese rm to pass the US$500 billion stock market valuation mark, overtaking Facebook. He believes in leading a transformational leading style by giving an affable environment to his employees. "[41], Ma uses the nickname Pony, derived from the English translation of his family name Ma (), which means "horse. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. We are still striving to create something really cool, trying to create things we couldnt even imagine without our new technologies. Neat. Younger employees understand what people want. Mas tolerance of failure is strategic. 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]. It is a system that says there is no limit to peoples creativity. If you havent registered yet, please register and log in. (26.8 billion). [32], Talking about the founding of Tencent, he told China Daily in a 2009 interview that "If I have seen further, it is by standing on the shoulders of giants", paraphrasing a quote attributed to Isaac Newton and referencing the similarities between ICQ and OICQ. Taobao did not charge a fee but made money from online services and advertising. People dont go to Toyota to work, they go there to think [88]. 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. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. It is true that leadership is one of the 4 functions of management but that does not mean that all managers are effective leaders. 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. Resour. Ma believes this will bring him success and it will inspire people around him to work hard for achieving the goal. Miliao could only release one version per month, he noted. 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 interesting question is whether it needs to go global. 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]. Part of WeChats early success was its likeness to WhatsApp and Kik, designed for the smartphone. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. Since then, GE has been in the lists of top ranked companies in the USA [61]. It was even risky, he thought, to rely too much on the founding team. As stated in Tencent's 2020 official interim report, it makes revenue from its four major lines of business as enumerated below; Value added services - RMB 65 billion, a 35% year-on-year . Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. Tencent lost the dispute, and the domain names had to be relinquished. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. Ma led research and development of Internet paging system development at China Motion Telecom Development before starting Tencent in 1998. 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. Always work hard on something uncomfortably exciting! [59]. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. [30] He also worked for Shenzhen Runxun Communications Co. Ltd. () in the research and development department for Internet calling services. The three most common leadership styles include skill based, trait based, and behavior based approaches. In China, you can have hundreds of competitors within the first hours of going live. Tencent started based on a revolutionary innovation, Internet-based QQ service. Tencent made over $56 billion in revenue in 2019, alone. 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. Rev. I try to focus on that: What is the future really going to be? Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. My goal is for Google to lead, not follow that [59]. 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 . Some of the main elements of his leadership style included effective communication, involvement, innovation, risk-taking, passion, and focus. Our editors will review what youve submitted and determine whether to revise the article. Please try again later. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. Then, in 1975, Ortega started the first Zaras ready-to-wear clothing store. In order to choose the specific companies or cases, disruptively successful firms, the following three criteria were applied: (1) the pool of chosen companies should be located in, at least, three different geographical realms i.e. 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. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. 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. 1. [39] However Forbes has not decreased his net worth as the shares are still listed under his name. While its Western peers face further scrutiny on privacy, Tencent is less restricted. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. It was a revolution. Northouse explained, "Transformational The concept of transformational leadership was introduced by James MacGregor Burns in his book Leadership [4] and then further developed in Transforming Leadership: A New Pursuit of Happiness [5]. They grouped the remaining attributes into two enactments and five roles that would help the analysis in case that this one is the chosen leadership framework [17]. The couple has a daughter named Ma Manlin. [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. No product starts perfect. London Business School takes your privacy seriously. Otherwise it might lead to hearsay, libel and argument among citizens - not to mention between countries. However, he definitively qualifies as a visionary leader. Mandi is an experienced writer on various topics with a passion for telling stories with words. So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . Hum. Leadership style refers to the way the leaders represent their ways of running an organization. But Tencent came of age before mobile. 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]. Also, it would be of interest to investigate how the visionary leaders and disruptive-innovation-based environments interact with each other and why this type of leadership helps produce such outstanding results. The option of the multi-case approach for the testing is the most fitting in the explained context, given the limited number of possible samples and the unquantifiable nature of the analysis. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. 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. As for external competition, Tencent has experienced plenty. Resilience is all part of Mas mission to face down internal and external attackers. Jack Ma, originally Ma Yun, (born September 10, 1964, Hangzhou, Zhejiang province, China), Chinese entrepreneur who was head of the Alibaba Group, which comprised several of China's most popular Web sites, including the business-to-business marketplace Alibaba.com and the shopping site Taobao.com. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. Still, Tencent has surged ahead and left national rivals like Baidu behind. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. Reshma Saujani, as shown above, is a champion for girls and women. Unlike Western app constellations, Tencent combines as many features into one app as possible. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. 2004, 29, 222-240. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. Innovation has nothing to do with how many R&D dollars you have. *Address all correspondence to: alberto.aba@gmail.com. As the most popular industries in Shenzhen . That social media post reflected an uncharacteristic step for the Tencent founder, who has kept a low profile in recent years amid China's regulatory crackdowns. [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]. 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. Again, Zuckerberg is as charismatic as Jobs or Edison [39, 45, 71, 72]. 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. And these products can be manufactured and given to people and they can sense that spirit [45]. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. We lack people with dreams, who can die for those dreams; For most people, they see and believe. He required complete openness and insisted that all Amazon teams plan and design service interfaces so they can be exposed to developers in the outside world. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. In 1956, Ohno visited the USA to learn their supply and inventory methods. 111, "Ranked: Most Powerful People In The World, 2020", "Tencent's Pony Ma is Asian tech spaces' new Warren Buffett", "Internet mogul Pony Ma named most generous Chinese philanthropist", "Tencent Rally Adds Billions to Chairman's Philanthropy Pile, Highlights China Influence", "China Billionaire Horse Race: Tencent's Ma Huateng Is Asia's Richest Again", "Asia's Tech Scene Gets a New Warren Buffett", "After Alibaba Holdings, Tencent makes first investment in Indian firm", "Asia's Richest Man Jack Ma Has Become Much Wealthier This Year - See The Number", "Tencent Chief Overtakes Wanda's Wang as China's Second-Richest Person", "Ma Huateng became one of the top 10 richest men in the world, surpassing Larry Page and Sergey Brin", "Tencent's Ma Huateng is China's second-richest man on WeChat mania", "Tencent's Ma becomes China's second-richest man", "Tencent: The Secretive, Chinese Tech Giant That Can Rival Facebook and Amazon", "Pony Ma Biography - life, family, name, young, born, time, year, Career, Sidelights - Newsmakers Cumulation", "Language Log A New Morpheme in Mandarin", "Tech in Asia - Connecting Asia's startup ecosystem", "Internet Users In Malaysia Are More Active On WhatsApp And Facebook Than Those In US, UK And China [REPORT]", "What are the next big things in the world of high technology? This method required concentration of researchers and projects in one spot. 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]. 7. 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. With a click on a red envelope icon, gifts of money could be sent to friends and family. 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. [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. The idea was a watershed moment for Chinas mobile market, bringing more than eight million users to Tencents WeChat Payment platform in the rst eight days after the New Year. Home > Two months later, one team presented WeChat, a text messaging and group chat software that was released in January 2011. He didnt want to lead, he said. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. 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]. Under Mas guidance, it is shoring up its strategic options, investing in game-changing technologies set to be the next big thing. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. 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. Publishing on IntechOpen allows authors to earn citations and find new collaborators, meaning more people see your work not only from your own field of study, but from other related fields too. On the opposite, transactional leaders, which frequently are less successful in terms of outcomes [5], usually adopt four possible approaches which are (1) contingency rewardrewards in exchange of support, (2) management by exception (active)monitoring and just acting when a corrective deed is necessary, (3) management by exception (passive)no monitoring and just acting when a corrective deed is necessary, and (4) laissez faireleadership avoidance [6, 7]. Ma Huateng expressed that our basic research in science and technology is still weak, and we don't have many unique innovations. Including the selection of cadres, the character is very important. Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. So what can the rest of the world learn from the man behind it all? 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. And how do we power our organization to really focus on that and really drive it at a high rate? [59]. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. One is Alibaba founder Jack Ma, who is fairly well known in the States, and the other is Ma Huateng, . If your idea of a good time is a euphoric party, now is the time for Dominica. China, Tencent Holdings Limited; Ma Huateng. 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