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. 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 . The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. 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]. Ineciencies and inertia creep in. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. Ma believes this will bring him success and it will inspire people around him to work hard for achieving the goal. How? Visionary leadership is comparable to Lewin's authoritative leadership style. 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. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. 5. He didnt want to lead, he said. As the founder of the entertainment giant Tencent, Ma Huateng (or Pony Ma, as he's better known) ranks as one of the richest people on the planet. 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]. Past attempts at breaking the international market alone havent fared well. 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. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. Googles beginnings were less humble than those of earlier Silicon Valley startups at the time, because the two founders were able to initially raise US$1 million US dollars [49]. Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. As PhD students, we found it difficult to access the research we needed, so we decided to create a new Open Access publisher that levels the playing field for scientists across the world. He is the founder, chairman. Employees become disengaged. Bill Gates clearly fits in the description of an innovator, a pioneer, and a supporter of organized learning and growth [45, 67, 71, 72, 73]. An article in The Economist describes how Ortega works: He has never had his own office, desk or desktop computer, preferring to direct his firm while standing with colleagues in a design room of Zara Woman, the flagship line. The rm supports a mind-bending number of apps directed at improving peoples everyday digital lives, including its own version of Uber, Didi Dache. By 2015, QQ had 850 million monthly users [94]. The resulting corporation was General Electric Company (GE) [61, 63]. 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]. 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. The study described in this chapter explores how some leadership models may be linked to some exceptional occurrences, such as disruptive success. This label can be applied to startups or more maturebut not yet elitecompanies that, at some point, grew fast and became world leaders in a period of less than 20years. 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. In 2017 Tencent opened its rst data centre in Silicon Valley and announced plans for ve more outside China. It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. Facebook: thebiographyscoop Visionary leaders are those who inspire extraordinary levels of achievement in followers through an inspiring vision and through other behaviors [2]. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . 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. Ortega eats lunch with his employees in the company cafeteria. 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]. Inditex ranked 67 in the global top 100 as per market capitalization [29]. He immediately realized that the design of portals could be a great business opportunity in the yet-unformed Chinese market, especially in the business segment. 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]. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. [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. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. Back in 2016, he reportedly . The companys 2017 annual revenues stood at almost 238 billion renminbi. If you havent registered yet, please register and log in. Explore the Think at London Business School Hub. 18% of the management team is White. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). Some of the most relevant ones were the phonograph, the incandescent electric light and power, the motion picture camera, and the alkaline storage battery [53]. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. With a click on a red envelope icon, gifts of money could be sent to friends and family. 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. He red o an email and the next day a new software release was online. 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]. 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 key leadership style of Ma Huateng is transformational, as he has been able to inspire his employees to achieve great things Autocratic leaders make all the decisions without consulting their followers. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. We hope you enjoy our thought leadership. By 1990, Gates was the PC industrys king [67]. This is a few principles for us to select talent [95]. The launch of WeChat is a case in point. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. Spain. But theyre allergic to rules. 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. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. He is said to own property in Hong Kong as well as art worth $150 million. By mlavoie on June 1, 2019. To date our community has made over 100 million downloads. 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. [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. Yang Huiyans riches evaporate as her Country Gardens stock plunges 84% amid real estate squeeze. April 6, 2021. [37], In December 2015, Ma announced that Tencent would build an "internet hospital" set up in Wuzhen that will provide long-distance diagnoses and medicine delivery. 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 is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. 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. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. As a world, were doing a better job of that. At a tech conference in Singapore, I discussed censorship. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. Ortega also is, as most of the previously analyzed leaders, an introvert. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. 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. Ma also has sharp design insight. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. The trip meant to represent the culture of the . Tencents third source of revenue is an ecosystem built around its one billion users. The internet sector in China is politically policed, but it is also lightly regulated. 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. These strategic partnerships are all options for future growth. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. Reshma Saujani, as shown above, is a champion for girls and women. China 2015, 20, 99-104. 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. In Hong Kong, he has a rebuilt palatial mansion of 1,820 m2 (19,600 sq ft). He didnt have grand ambitions to build a great enterprise. Employees share insights, software and entire bodies of code from other parts of the business. China is home to the world's second-largest number of billionaires after the United States. 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. Always work hard on something uncomfortably exciting! [59]. Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. Agility was their ability to do it. Ma now sits atop the worlds fth most valuable public rm, worth US$556 billion (402 billion). They usually miss the future. 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. Zhang regaled the audience with the tale of how, one night during the launch, he needed an urgent product change. Jack Ma's wealth gain for the year all but evaporated, after Alibabas stock was dragged lower on renewed worries over the companys growth prospects. 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. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. [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. Amancio Ortega, who was the one that directly conceived and engineered the above-mentioned business model, clearly is an innovator and a pioneer [18]. He also supports organized learning and growth inside of his firm. 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]. Its business roughly splits into three. [43] He owns a redeveloped palatial residence of 1,820 m 2 (19,600 sq ft) in Hong Kong. Jade Scipioni @JadeScipioni. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have Pony Ma's leadership style can be as unusual as his nickname. Home prices slumped for a third-straight month in September; Twitter quietly stopped enforcing its Covid-19 misinformation policy; meet the youngest honorees on Forbes 30 Under 30 2023 list; and more. [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. Evolution Associate Editor, Encyclopdia Britannica. Teams also have freedom to compete. For instance, the rst major chat app in China wasnt WeChat; it was Miliao, which was produced by Xiaomi. Thats why we allow those who understand the needs of younger users to do the job, said Ma. Openness If youve already registered, please log in. It is a system that says there is no limit to peoples creativity. His passions kept changing over the time. Tencent lost the case and had to relinquish the domain names. From mobile payments to taxi hailing, users can live their lives on one app. Ideas are not important in China execution is [95]. How Tencent CEO Pony Ma became the richest man in China . FANGs Facebook, Amazon, Netix and Google preside happily over Silicon Valley. 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. Resilience is all part of Mas mission to face down internal and external attackers. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. He started off by improving his communication skills and also learned English. 2. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. [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. 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. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. Tencent launched its own portal (QQ.com) in 2003 and entered the online games sector. 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 In terms of being inspirational and a great team builder. 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. (Co-founder and Former Executive Chairman of 'Alibaba Group') Jack Ma is a Chinese businessman, investor, and philanthropist. Innovation For leadership, we have to see things that other people dont see [92]. In that trip, he visited one of the supermarkets of the Piggly Wiggly chain [84, 85]. [33], After AOL (America Online) bought ICQ in 1998, the company filed an arbitration against Tencent with the National Arbitration Forum in the United States, claiming that OICQ's domain names OICQ.com and OICQ.net were in violation of ICQ's trademark. Ma became interested in the English language as a young boy, and during his teens he worked as . On being an inspirator: We look for people who are passionate about something. He later managed a clothing store that catered to wealthy clients. 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. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. Ma Huateng is a proponent of the Chinese Communist Party. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. 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. 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. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. 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. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. Alibabas growth was fast. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". 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. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. Tencent CEO Ma Huateng, also known as Pony Ma, started out making $176 a month and now has a net worth of $45 billion. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. Under Ma's leadership, Tencent has moved into web portals, social networks, multi-player games and e-commerce, making the company today an Internet powerhouse and China's number one brand. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. I try to focus on that: What is the future really going to be? Ma quickly embraced open-source software. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. Leadership. A better job of that unlike the previous cases, Toyota was not its founder 43 ] owns... 12Th National Peoples Congress and the 12th National Peoples Congress, according to the world 's second-largest of. The youngest amongst the first 15 multi-billionaires in the world, Tencent has! 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