He was born in 1971 in Chaoyang, Shantou, China. 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 . He later managed a clothing store that catered to wealthy clients. Published Wed, Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. As for external competition, Tencent has experienced plenty. 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 Zhang set up an autonomous unit in Guangzhou, away from the Shenzhen headquarters. Its not about money. (TIE) Zhao Changpeng (Canada) Bloomberg. Northouse explained, "Transformational Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. As the most popular industries in Shenzhen . We are still striving to create something really cool, trying to create things we couldnt even imagine without our new technologies. As a youth in A Corua, Galicia, in northwestern Spain, Amacio Ortega gained an entry into the garment business by working as a delivery boy for a mens shirt store and assistant in a tailors shop. The new system made Toyota the car industry leader. By 2015, QQ had 850 million monthly users [94]. He can regularly be found sharing table on the factory floor with some of the designers, fabric experts and buyers [80]. 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. The launch of WeChat is a case in point. 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 . Still, Tencent has surged ahead and left national rivals like Baidu behind. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. These two leadership styles shaped Tencent's markethierarchy orientation culture and teamwork\innovation orientation culture respectively. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. [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). With a click on a red envelope icon, gifts of money could be sent to friends and family. 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. These strategic partnerships are all options for future growth. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. Ideas are not important in China execution is [95]. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. The other American companies ranked in-between in the original list were not disruptively successful ones e.g. Open Access is an initiative that aims to make scientific research freely available to all. 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]. 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. Rev. Best known as the brains behind the WeChat messaging app and Player Unknown's Battlegrounds (PUBG), Pony Ma is a man who knows how to turn an idea into hard cash. In terms of actively supporting internal growth: When you go out into the workplace, you should be looking for things that you can do for your people there. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. Jack Ma. Corrections? 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. Thats why we allow those who understand the needs of younger users to do the job, said Ma. 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]. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. WeChat hit most global markets in 2012. Regarding the second attribute of visionary leadership [18], which is supporting organized learning and growth within the organization, Jobs spoke eloquently about its importance, from his own point of view: The people who are doing the work are the moving force behind the Macintosh. Amancio Ortega, who was the one that directly conceived and engineered the above-mentioned business model, clearly is an innovator and a pioneer [18]. A self-confessed geek who trained in computer science, he knew about the tech people wanted to use. 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. 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]. 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]. By 2004, Tencent became the largest Chinese instant messaging service (holding 74 percent of the market),[33] prompting Ma to list the company on the Hong Kong Stock Exchange. 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. But Tencent came of age before mobile. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. Back in 2016, he reportedly . 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. Ma also has sharp design insight. 19. 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. And how do we create it? And I think that same spirit can be put into products. 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. All Rights Reserved. That gave Toyota an edge in terms of productivity and quality [86, 87]. 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. Tencent. Agility was their ability to do it. Nine is also a number in the range of similar studies conducted in the past. Long ago, Max Weber described charismatic authority in his book Economy and Society [8], where he identified it as one of three types of legitimate domination. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. Ma Huateng is a proponent of the Chinese Communist Party. Employees share insights, software and entire bodies of code from other parts of the business. Pages personality traits, like his introverted tendencies, may not fit the profile of a charismatic leader [55, 56, 58, 60], but he definitively does in that of a visionary leader. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . 18% of the management team is White. It was even risky, he thought, to rely too much on the founding team. Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. We hope you enjoy our thought leadership. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. However, the company failed to attain technological zeal and . [39] However Forbes has not decreased his net worth as the shares are still listed under his name. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. 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. That's why the need for online management is increasingly urgent. Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. People dont go to Toyota to work, they go there to think [88]. The rm also invested US$1.8 billion (1.3 billion) in Tesla. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. Tencent wants to enable greater connectivity across Chinese industry, leveraging the capabilities and expertise it has built to serve the billion-plus users of its consumer-facing platforms,. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. 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. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. It is a system that says there is no limit to peoples creativity. Effectiveness of leadership style. 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. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. But theyre allergic to rules. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. Younger employees understand what people want. 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. Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. 4 On China's 100 Richest 2021, Tencent CEO Ma Huateng Is Back On Top As Chinas Richest Person, Tencents Ma Huateng Overtakes Jack Ma As Chinas Richest Again Amid Coronavirus Lockdowns, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. Employees become disengaged. 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. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. Tencent lost the dispute, and the domain names had to be relinquished. Visionaries may be the only ones that can actually provide some accurate guesses, and, at the same time, put together, motivate, and guide a team in the right direction. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. Plenty of seemingly bulletproof businesses Dell, HP, Kodak, Blockbuster have lost their edge by failing to adapt. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. 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. On being an inspirator: We look for people who are passionate about something. User first Leadership style refers to the way the leaders represent their ways of running an organization. Based on our data team's research, Ma Huateng is the Tencent's CEO. He is the founder, chairman. View our Privacy Policy to learn more. 1. 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]. The first chosen location was Menlo Park, in New Jersey. Here are further demographic highlights of the leadership team: The Tencent executive team is 50% female and 50% male. When something new comes along, customers think its usually best to stick with what theyre used to, unless its dramatically dierent. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. Acad. [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. Jack Ma, the former English teacher who founded Alibaba, is the antithesis of his namesake: fting world leaders, setting bold targets and his penchant for shooting from the hip leave his minders. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. Its business roughly splits into three. 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. Analysts estimate that more than two thirds of the almost 1.4 billion population use Tencent. Internal battles, where two teams can Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. Ma believes this will bring him success and it will inspire people around him to work hard for achieving the goal. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. The founders like to be simple and dont like to be politicized. VR, AI you name it, Ma is buying stakes in it. 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. 3% of Tencent management is Hispanic or Latino. Ortega first applied this approach in a bathrobe business, Confecciones Goa, company that he founded in 1963. 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