In 1956, Ohno visited the USA to learn their supply and inventory methods. Changing a product in ight is tough. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Larry Page met Sergey Brin when Larry entered the doctorate program at Stanford. The trip meant to represent the culture of the . The internet sector in China is politically policed, but it is also lightly regulated. [30] He also worked for Shenzhen Runxun Communications Co. Ltd. () in the research and development department for Internet calling services. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. He was born in 1971 in Chaoyang, Shantou, China. He is the founder, chairman. 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. Ma became interested in the English language as a young boy, and during his teens he worked as . Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). 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. Profiles. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. That's why the need for online management is increasingly urgent. 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]. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. Mas visionary leadership is as uniquely prolific as that of Edison and Jobs. Under Mas leadership Tencent greatly expanded its offerings to provide users with a range of what the company described as online lifestyle services. In addition to instant messaging, those services included e-commerce sites, online media outlets, gaming and other interactive entertainment, social networking sites, online advertising, and online payment processing. He later managed a clothing store that catered to wealthy clients. In the case of entrepreneurial leadership, Gupta, MacMillan, and Surie came up with a list of 19 leadership attributes that appeared to be the most relevant [17]. They dont have to unlearn bad habits. In China, you can have hundreds of competitors within the first hours of going live. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. In the case of the selected framework, the results are the ones that tell if this choice was right. Neat. Effectiveness of leadership style. Elements of disruptive innovation can be found in at least four of the items in Apples list: personal computers, music distribution, tablet computing, and digital publishing. 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. This reality implies that collective or organizational outputs may not always be prioritized or maximized, since that is not the main objective for this type of leaders [9]. Visionary leadership is comparable to Lewin's authoritative leadership style. 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. Ideas are not important in China execution is [95]. 1. 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 . 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]. 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. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. 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. 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. 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. Huateng is worth $55.66 Billion as of October 21 st, 2020. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. Pony Ma's leadership style can be as unusual as his nickname. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. 18% of the management team is White. Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. This type of leadership is best used when there is a big change in the company or a clear direction is needed. 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. Ineciencies and inertia creep in. 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. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. 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. 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. Here are further demographic highlights of the leadership team: The Tencent executive team is 50% female and 50% male. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. 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. Taobao did not charge a fee but made money from online services and advertising. The article Leadership theory and research in the new millennium: Current theoretical trends and changing perspectives [1] provides a review of the state-of-the-art research in terms of leadership research of the last two decades, including most of the theories and frameworks, except that of visionary leadership, which has anyway been included in the analysis [2]. 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 1999, Alibaba Group, an online trading company, was established by Jack Ma, a former English teacher, in Hangzhou City, China [90]. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. [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. 2 on China's 100 Richest last yearsaw his net worth tumble to $49.1 billion this year, as Beijing tightened rules on the countrys internet companies. [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. 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. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. 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. 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. 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. It takes rapid iteration and even then, according to Ma, perfection is never reached. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . Is it a legitimate global player? Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. And these products can be manufactured and given to people and they can sense that spirit [45]. Eventually, there is no assumption on what the results would have been or would be if some other of these frameworks would have been tested in the study. 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]. Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). By 1889, he had full ownership or participation in many electricity-related companies that got then merged. The other quality of a visionary leader, supporting internal growth, was clearly evinced by the way that he spoke about Toyota and its organizational style over the length of his career. 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 . . London Business School takes your privacy seriously. You must be a registered user to add a comment here. Openness also means sharing. Let China's internet giants tell you", "Ma vs. Ma: The most expensive house in Hong Kong belongs to one of China's internet kings - but is it Jack or Pony? 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. Feature comparison between studied firms and founders. 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]. They usually miss the future. How Tencent CEO Pony Ma became the richest man in China . 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. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. 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's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". The rm also invested US$1.8 billion (1.3 billion) in Tesla. Ma's leadership style changed from transactional leadership to transformational leadership. Thats why we allow those who understand the needs of younger users to do the job, said Ma. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Reshma Saujani, as shown above, is a champion for girls and women. 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. [27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. From the very beginning, General Electric adopted an innovation development strategy similar to Googles. 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]. 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. This is related to our culture. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. In those days, Toyota was much less productive than its Detroit-based competitors, the Big ThreeGeneral Motors, Ford, and Chrysler [83]. Chairman and CEO, Tencent Holdings. We lack people with dreams, who can die for those dreams; For most people, they see and believe. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. Wang Dan-ting is the wife of one of China's richest men, Ma Huateng, the founder of Tencent and QQ. February 22, 2019. [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]. He gives importance to the ideas and strategies given by his employees. Jade Scipioni @JadeScipioni. What do they fundamentally do wrong? His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. Leader influence on followers Jack Ma was a charismatic leader that influences his follows; they used to find his a credible source of information so they trust every word he says. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. Ma Huateng's fortune is derived from his 9.7 percent ownership of Tencent Holdings. Birth Details October 29, 1971 | Chaoyang, China. By giving the project the green light, Ma, in eect, gave Zhang full licence to cannibalise the existing QQ product. Ma Huateng is a business tycoon, an entrepreneur, an engineer, a philanthropist, and an investor. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. All Rights Reserved. 2. Ortega first applied this approach in a bathrobe business, Confecciones Goa, company that he founded in 1963. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. Autocratic leadership style. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. Website: Biographyscoop.com The leader has grown Tencents using transformational leadership style, which is also in line with his vision in the direction of continuous innovation, encouraging employees to experiment and has provided a unique model to inculcate the innovative spirit. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. 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. Besides, the analyzed variables are not quantitative in nature. 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. By 2016, it employed 40,000 people, up from 1,000 in 2004. He didnt have grand ambitions to build a great enterprise. Spain. WeChat CEO Recent News and Activity Number of News Articles 12 News Apr 1, 2021 Forbes Tencent CEO Ma Huateng Is Back On Top As China's Richest Person News Mar 2, 2021 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]. 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. View our Privacy Policy to learn more. 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. Ma Huateng is a proponent of the Chinese Communist Party. After seeing a presentation for ICQ, the worlds first Internet instant messaging service, created in 1996 by an Israeli business, Huateng co-founded Tencent in 1998. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. 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. Miliao could only release one version per month, he noted. He is the founder, chairman and chief executive officer of Tencent, one of the most valuable companies in Asia, one of the largest internet and technology companies, and one of the biggest investment, gaming and entertainment conglomerates in the world. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. He considered the next generation better positioned to dream up the next big product idea. What is the profession of Ma Huateng? If you havent registered yet, please register and log in. By Urban Woman. Zhang regaled the audience with the tale of how, one night during the launch, he needed an urgent product change. On being an innovator: Invention is not enough. Please try again later. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. 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]. The other American companies ranked in-between in the original list were not disruptively successful ones e.g. April 6, 2021. Every week and they can sense that spirit [ 45 ] users to do the job, said.... 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