In the case of the selected framework, the results are the ones that tell if this choice was right. Contact our London head office or media team here. 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. 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. Please refer to the appropriate style manual or other sources if you have any questions. 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. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. By 1980, Gates managed to convince a large computer manufacturing multinational, IBM, to depend on Microsoft for every software related to personal computers (PCs). Younger employees understand what people want. 2004, 29, 222-240. 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]. These labels define a concept different than Christensens. The power of cross-cultural collaboration, Leading digital transformation: what you must know, Discover fresh perspectives and research insights from LBS. 2023 Forbes Media LLC. He also supports organized learning and growth inside of his firm. They usually miss the future. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. Tencent CEO Ma Huateng, also known as Pony Ma, started out making $176 a month and now has a net worth of $45 billion. The three most common leadership styles include skill based, trait based, and behavior based approaches. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. At a tech conference in Singapore, I discussed censorship. Openness also means sharing. 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 In 2017, Fortune ranked him as among the top businessmen of the year. Bachelor of Arts/Science, Shenzhen University. 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. Ma himself . 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? By 2015, QQ had 850 million monthly users [94]. 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]. (26.8 billion). His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. In. 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. [Photo by Tang Mingming/For China Daily] NPC deputy believes digital economy could become the engine driving China's next phase of development, affecting many sectors As for external competition, Tencent has experienced plenty. Tencent had grown to become Chinas top instant messaging service by 2004, prompting Ma to list the firm on the Hong Kong Stock Exchange. In that trip, he visited one of the supermarkets of the Piggly Wiggly chain [84, 85]. What about Tencent 3.0? Tencent lost the dispute, and the domain names had to be relinquished. The four models that were considered potentially suitable for a context of disruptive successtransformational, charismatic, entrepreneurial, and visionaryunderwent a further scrutiny in order to determine which one would better suit the context of disruptive success, as it is briefly described in the next paragraph. 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 . 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. A recurring leadership style in this paper is the transformational le adership style which, according to Northouse (2004), is "one of the current approaches to leadership that has been the focus of much research since the early 1980s" (p. 169). 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. Steve Jobs leadership style & personality. The trip meant to represent the culture of the . 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. Yang Huiyans riches evaporate as her Country Gardens stock plunges 84% amid real estate squeeze. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. Its now vogue to call customers users. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. 2.2.2. An overwhelming percentage of the disruptively successful companies in the top 100 as per market capitalization are American and, mostly, they are located in Silicon Valley. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. He dropped out of Reed College, in Portland, took a job at Atari Corporation as a videogame designer in early 1974, and saved enough money for a pilgrimage to India [39]. 5. Here's an overview of eight common leadership styles, from autocratic to visionary, with a look at the benefits and challenges of each style: 1. (sometimes unknowingly) work on variations of the same product lines, can create waste. 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]. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. 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. Tencent. In November 2017, his net worth briefly surpassed that of Larry Page and Sergey Brin (individually) ranking him the ninth richest man in the world, and the first citizen from China to enter Forbes' top 10 richest list,[20][21][22][23] though the net worth of Page and of Brin have each since eclipsed that of Ma. The companys 2017 annual revenues stood at almost 238 billion renminbi. As of January 2021, Ma is worth $46.8 billion which places him . Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. On being a pioneer: Lots of companies dont succeed over time. Omissions? Ideas are not important in China execution is [95]. 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]. In 2010, Ma imitated Microsoft by forming two competitive engineering teams and assigning them the task of developing a new product. This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. 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. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. 5 Princes Gate Court, 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]. After purchasing ICQ in 1998, AOL initiated an arbitration against Tencent with the National Arbitration Forum in the United States, alleging that OICQs domain names OICQ.com and OICQ.net were infringing on ICQs trademark. 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. He is the founder, chairman. By 2016, it employed 40,000 people, up from 1,000 in 2004. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. Tencent lost the case and had to relinquish the domain names. Is it a legitimate global player? Ma and his colleagues were inspired by the concept and developed a comparable program with a Chinese interface and a slightly different name OICQ (or, Open ICQ). At that time, Edison moved to New York City, where he initially partnered with Frank L. Pope, an electrical expert, and produced the Edison Universal Stock Printer [62]. He is the founder, chairman, and CEO of Tencent, which is China's most valuable company. Facebook: thebiographyscoop They dont have to unlearn bad habits. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). Changing a product in ight is tough. Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. 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 [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. 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 quickly embraced open-source software. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. [31] Inspired by the idea, Ma and his team launched in February 1999 a similar software, with a Chinese interface and a slightly different name OICQ (or, Open ICQ). By 1869, he thought that he had made enough progress with a duplex telegrapha device capable of transmitting two messages simultaneously on one single wireand abandoned telegraphy for full-time entrepreneurship. [Nikola] Tesla invented the electric power we use, but he struggled to get it out to people. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. The only large-enough Western European disruptively successful company that also met the criteria was the Spanish firm Inditexnumber 67 as per market capitalization [29]. Charismatic leaders emerge in times of instability, change, or crises, but many critics argue that charismatic leaders tend to forget the groups benefit and try to gain most of the attention for themselves. (TIE) Zhao Changpeng (Canada) Bloomberg. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. It is a system that says there is no limit to peoples creativity. He was born in 50 years old as of 29 October 2021. 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. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. Spain. VR, AI you name it, Ma is buying stakes in it. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. Facebook was banned in China in July 2009, the same year WhatsApp launched. People dont go to Toyota to work, they go there to think [88]. ", 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. 7. Ma led his company's leadership committee on a two-day hike through the Gobi Desert for their off-site retreat last year, according to Bloomberg. Nationality Chinese. For us, it is important to choose a character, super emphasis on this one. By 2007, Taobao had a 67 percent market share in China and eBay sold its Chinese operations to the media consortium TOM Group. Pony Ma took his gaokao (national university entrance exams) from July 7-9, 1989 and his score was 739 (out of a possible 900). Red Packets are a good example. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. China is home to the world's second-largest number of billionaires after the United States. 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. Chaoyang, Shantou, Guangdong. 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 world's largest Internet companies. The battleground is vibrant. 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