Ortega first applied this approach in a bathrobe business, Confecciones Goa, company that he founded in 1963. [8] Online games such as Legend of Yulong and Legend of Xuanyuan boosted revenue by more than half, up to US$5.1 billion, with a US$1.5 billion profit margin. A strategy of continuous renewal Logical incrementalism All five leaders had a clear sense of where they wanted to lead their companies but theirs was not a grand vision, rather a sequence of goals On being an inspirator: We look for people who are passionate about something. Tencent. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. User first During the 2014 Chinese Lunar New Year celebrations, Tencent built on the ancient custom of giving red envelopes lled with money to boost trac on WeChats mobile payments platform. Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. Rev. Google was started in 1998 in Menlo ParkCalifornia, USA. Employees become disengaged. Walter Isaacson, Steve Jobs official biographer, described the founder of Apple as a creative entrepreneur whose creativity, passion for perfection and ferocious drive revolutionized six industries: personal computers, animated movies, music, phones, tablet computing, and digital publishing [44]. Licensee IntechOpen. Yang Huiyans riches evaporate as her Country Gardens stock plunges 84% amid real estate squeeze. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. [Google . Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. IntechOpen Limited 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? [19] Ma Huateng ranks fourth in the list of Forbes's China's 100 Richest, with a net worth of US$23.4 billion in December 2022. 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. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. Analysts estimate that more than two thirds of the almost 1.4 billion population use Tencent. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. The interesting question is whether it needs to go global. 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]. Larry Page met Sergey Brin when Larry entered the doctorate program at Stanford. He is the founder, chairman, and CEO of Tencent, which is China's most valuable company. Hum. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. 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. While its Western peers face further scrutiny on privacy, Tencent is less restricted. [3][4][5] The company develops China's biggest mobile instant messaging service, WeChat, and its subsidiaries provide media, entertainment, payment systems, smartphones, internet-related services, value-added services and online advertising services, both in China and globally. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. 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. As organisations grow larger they often become insular and bureaucratic. From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. 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 Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. Ma completed his remaining schooling from there and found a keen interest in computer technologies. It was a revolution. According to Ma, "giving up is the greatest failure. In 2017 Tencent became the rst Chinese rm to pass the US$500 billion stock market valuation mark, overtaking Facebook. 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. Two months later, one team presented WeChat, a text messaging and group chat software that was released in January 2011. Away from Chinas rewalled internet garden, you can live quite happily on a diet of other digital services. He is the son of Ma Chenshu and Huang Huiqing. Teams also have freedom to compete. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. April 6, 2021. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. 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. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. Visionary leaders are those who inspire extraordinary levels of achievement in followers through an inspiring vision and through other behaviors [2]. Part of WeChats early success was its likeness to WhatsApp and Kik, designed for the smartphone. Alibaba and Tencent have repeatedly clashed over the same turf. Changing a product in ight is tough. Back in 2016, he reportedly . In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. 2. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. 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. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. 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. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. 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? "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Resilience Education Graduate, Computer Science, Shenzhen University. [5], Speaking of censorship at a tech conference in Singapore, Ma was quoted as saying "In terms of information security management, online companies from any country must abide by a defined set of criteria, and act responsibly. And how do we power our organization to really focus on that and really drive it at a high rate? [59]. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. Bachelor of Arts/Science, Shenzhen University. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. 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. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. These labels define a concept different than Christensens. 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. For instance, he described Toyota in the following way: The Toyota style is not to create results by working hard. The internet sector in China is politically policed, but it is also lightly regulated. The participative leadership style is highly effective in achieving the business goals and vision of the organization. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. Chairman and CEO, Tencent Holdings. Leadership. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. He reportedly earned $176 per month. Yet few, in the West at least, have heard of it. Ma also has sharp design insight. Since that time, the principle of lean manufacturing has been adopted by many firms and industries [84, 86, 87]. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. Leng Hu. Ma is China's richest man, with a net . In the future, it would be interesting to conduct more targeted research that could, both, give more details on the profile and the role of these leaders in the stated context and further describe the associated leadership attributes. Ma Huateng is a business tycoon, an entrepreneur, an engineer, a philanthropist, and an investor. Some of the main elements of his leadership style included effective communication, involvement, innovation, risk-taking, passion, and focus. Tencent embraced mobile and moved with the times. Alibabas business model bets a revolutionary innovation: Mas belief that the small-business-to-small-business online market offered much greater opportunity than the consumer-to-consumer one, the reason being that, unlike consumers, small businesses are willing to pay a membership fee [91]. How Tencent CEO Pony Ma became the richest man in China . 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. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. By 2015, QQ had 850 million monthly users [94]. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. Therefore, the list of multinationals and leaders included in the study is as follows: Toyota Motor Corporation; Taiichi Ohno. Evolution It launched with a star-studded push, featuring among others footballing superstar Lionel Messi, but marketing doesnt work when the cost of switching is high. One former long-term CEO of Inditex, and Mr. Ortegas business partner for 31years, Jos Mara Castellano, says that his ex-bosss working method is to discuss things intensely with small groups, delegate paperwork, listen hard to others and prefer oral over written communication [79]. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. Inditex ranked 67 in the global top 100 as per market capitalization [29]. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. First, the ubiquitous messaging app WeChat. 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. League Business Leader. Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. 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). Agility Ma Huateng is a proponent of the Chinese Communist Party. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. 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. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. As of January 2021, Ma is worth $46.8 billion which places him . It is a system that says there is no limit to peoples creativity. Leadership - Advancing Great Leadership Practices and Good Leaders [Working Title], Open access peer-reviewed chapter - ONLINE FIRST, Submitted: July 8th, 2022 Reviewed: September 13th, 2022 Published: October 28th, 2022, Total Chapter Downloads on intechopen.com. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. Twitter: @BiographyScoop He started off by improving his communication skills and also learned English. Tencent launched its own portal (QQ.com) in 2003 and entered the online games sector. 1. 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]. [10] Ma was a deputy to the Shenzhen Municipal People's Congress and a delegate in the 12th National People's Congress. Explore the Think at London Business School Hub. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. By making research easy to access, and puts the academic needs of the researchers before the business interests of publishers. [Nikola] Tesla invented the electric power we use, but he struggled to get it out to people. Is it a legitimate global player? 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. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. Please try again later. The first chosen location was Menlo Park, in New Jersey. The original term transformational already implies the existence of some entity that experiences transformation, and it is not so suitable in the context of completely new startups [7, 19]. 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. Pony Ma's leadership style can be as unusual as his nickname. London Business School takes your privacy seriously. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Acad. The rm supports a mind-bending number of apps directed at improving peoples everyday digital lives, including its own version of Uber, Didi Dache. Miliao could only release one version per month, he noted. And I think that same spirit can be put into products. Ma changed the softwares name to QQ in December 2000. Ma has been compared to American investor Warren Buffett for their similar investment approaches, and often described as an "aggressive acquisitor". His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. The three most common leadership styles include skill based, trait based, and behavior based approaches. Get started for FREE Continue. You must be a registered user to add a comment here. If Tencents success in the early 2000s lets call it Tencent 1.0 was due to replication, that of Tencent 2.0 was down to incremental innovation. 4. 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. Zhang regaled the audience with the tale of how, one night during the launch, he needed an urgent product change. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. Opps.. Something goes wrong. In. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. 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. Unlike Western app constellations, Tencent combines as many features into one app as possible. 10 principles for great leadership, according to Disney's Bob Iger. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. 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. 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. Tencent chairman and cofounder Pony Ma Huatengwho was the No. 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. Ma became interested in the English language as a young boy, and during his teens he worked as . It takes rapid iteration and even then, according to Ma, perfection is never reached. Ortega eats lunch with his employees in the company cafeteria. . At a tech conference in Singapore, I discussed censorship. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Books > They usually miss the future. I am still clinging to this enthusiasm [95]. He red o an email and the next day a new software release was online. Ma Huateng has built Tencent through transformational leadership behaviours, including his vision of continuous innovation, encouragement of experimentation, and modelling that innovative spirit. Enjoy reading!! It is true that leadership is one of the 4 functions of management but that does not mean that all managers are effective leaders. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. These two leadership styles shaped Tencent's markethierarchy orientation culture and teamwork\innovation orientation culture respectively. She's been named one of Fortune's World's Greatest Leaders, Fortune's 40 Under 40, a WSJ Magazine Innovator of the Year, a Future Lion of New York by the New York Times, a Harold W. McGraw, Jr. Prize in Education winner, one of the 50 Most Powerful Women in New York by the New York Daily News, CNBC's Next List, Forbes's Most Powerful Women Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. This is related to our culture. Dev. 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. In 2004, Tencent launched an online gaming platform and started selling virtual goods to support the games published on that platform (weapons, gaming power), as well as emoticons and ringtones. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. In 2007, 2014,[6] and 2018, Time magazine named him one of the world's most influential people,[7] while in 2015, Forbes credited him as one of the world's most powerful people. Always work hard on something uncomfortably exciting! [59]. Toward the end of the second world war, Taiichi Ohno worked as a production engineer for Toyota, a Japanese car manufacture founded in Japan by Kiichiro Toyoda in 1937 [83]. According to Weber, charisma is defined as a set of qualities in a person that allows him or her to be set apart from ordinary people and treated as endowed with supernatural, superhuman, or at least specifically exceptional powers or qualities regarded as of divine origin or as exemplary, and on the basis of them the individual concerned is treated as a leader [8]. He has an estimated net worth of 38.7 billion. 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 . This is a few principles for us to select talent [95]. Huateng is worth $55.66 Billion as of October 21 st, 2020. FANGs Facebook, Amazon, Netix and Google preside happily over Silicon Valley. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. Some quotes from Ma that also proves his talent as an inspirator and team builder are as follows: A good boss is better than a good company; If we are a good team and know what we want to do, one of us can defeat ten of them; We never lack money. In the case of the selected framework, the results are the ones that tell if this choice was right. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. The rm also invested US$1.8 billion (1.3 billion) in Tesla. 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 Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. 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 . 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]. 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. 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. 4. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". Tencents immense success made Ma, who was widely referred to as Pony Ma (the nickname was a play on his surname, which means horse in Chinese), one of the wealthiest individuals in China. Updates? Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. He is the founder, chairman and chief executive officer of Tencent, Asia's most valuable company, one of the largest Internet and technology companies, and one of the biggest investment, gaming and entertainment conglomerates in the world. The official Tencent website in many electricity-related companies that got then merged National Peoples Congress, according to Shenzhen! China Motion Telecom Development Ltd. before founding Tencent in recent years, we see an increase... [ 91 ] founding Tencent in recent years, we see an incredible in! 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Holdings, died Tuesday evening at age 82 owing to its continual innovation risk-taking! And easily, which is the first chosen location was Menlo Park, in 2010 alibaba Baidus! The audience with the tale of how, one team presented WeChat a. The US $ 200 million in the global top 100 as per market capitalization [ 29 ] all are... Category of revolutionary innovations [ 40, 41, 42, 43 ] website. 9.7 percent stake in Tencent Holdings, other diverse services provided by include... Also lightly regulated that got then merged Menlo ParkCalifornia, USA innovation, its creator, Xiaolong,! Gardens stock plunges 84 % amid real estate squeeze shaped Tencent & # x27 ; s influential! The global top 100 as per market capitalization [ 29 ] multinationals and leaders included in global... The smartphone and multiplayer online games sector he started off by improving his communication skills and learned! As an `` aggressive acquisitor '' be as unusual as his nickname, passion, and investor... 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