In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. In 1999, Alibaba Group, an online trading company, was established by Jack Ma, a former English teacher, in Hangzhou City, China [90]. Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. Corrections? Its hedging its future bets. 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. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. With this high score, he would have been able to attend Tsinghua University in Beijing, or Fudan University in Shanghai. So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . Ma Huateng Leadership Style Ma's management style shifted from transactional to transformational leadership. 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. 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. February 22, 2019. Ma Huateng November 30 2022 Review Non-Fiction Influence Empire can Tencent negotiate China's shifting political winds? The rm supports a mind-bending number of apps directed at improving peoples everyday digital lives, including its own version of Uber, Didi Dache. Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. 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. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. They usually miss the future. The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. Tencents attention to speed has long had its rivals green. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. 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. It takes rapid iteration and even then, according to Ma, perfection is never reached. Always work hard on something uncomfortably exciting! [59]. From the very beginning, General Electric adopted an innovation development strategy similar to Googles. On being a pioneer: In a world thats changing really quickly, the only strategy that is guaranteed to fail is not taking risks [75]. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. 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. Zhang emailed Ma asking for permission to create a competitor to Kik Messenger, founded in 2009 by a group of students from the University of Waterloo in Canada. We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. Open Access is an initiative that aims to make scientific research freely available to all. In this Special Edition of the AIB Review, leading industry professionals and members of AIB's Marketing and Entrepreneurship faculty deep dive into the need-to-know industry trends and issues that lie ahead. The resulting corporation was General Electric Company (GE) [61, 63]. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). 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's popular social messaging app WeChat has more than 1 billion users. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. He has an estimated net worth of 38.7 billion. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. Under Mas guidance, it is shoring up its strategic options, investing in game-changing technologies set to be the next big thing. Tencent has 85,858 employees, of which 46 are in a leadership position. First, the ubiquitous messaging app WeChat. Licensee IntechOpen. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. That gave Toyota an edge in terms of productivity and quality [86, 87]. It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. the case of Alex Gorsky, the CEO of Johnson & Johnson and past CEO of IBM, under whose leadership the corporate net prot rose by 18% in 2014 on the basis of a 4.2% increase in sales [ 60 [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 The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. 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. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. Ma Huateng. *Address all correspondence to: alberto.aba@gmail.com. Within 2weeks, half of the students had signed up [74]. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. On this Wikipedia the language links are at the top of the page across from the article title. 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. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. That's why the need for online management is increasingly urgent. Including the selection of cadres, the character is very important. 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. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. So what can the rest of the world learn from the man behind it all? Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. He gives importance to the ideas and strategies given by his employees. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. 4. 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. A charismatic leader is a person, who has the ability to influence people and who, consequently, has some controlling power over them [9]. Jade Scipioni @JadeScipioni. Next, the chapter describes a conducted multi-case study that tested the actual possible correlation between the chosen leadership framework and the profile of the leaders of their disruptively successful corporations. If you havent registered yet, please register and log in. Unlike Western app constellations, Tencent combines as many features into one app as possible. Chaoyang, Shantou, Guangdong. No product starts perfect. Ma himself . Nationality Chinese. For us, it is important to choose a character, super emphasis on this one. I am still clinging to this enthusiasm [95]. 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]. Resilience It is a system that says there is no limit to peoples creativity. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. This type of leadership is best used when there is a big change in the company or a clear direction is needed. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. 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]. Mas management style shifted from transactional to transformational leadership. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. 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. Tencent lost the case and had to relinquish the domain names. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. He is the son of Ma Chenshu and Huang Huiqing. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. After two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. He is also a business leader. 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. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. Ma Huateng seldom appears in the media and is known for his secretive lifestyle. Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. Ma Huateng adalah pengusaha yang merintis kariernya dari nol. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. He believes in leading a transformational leading style by giving an affable environment to his employees. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. Huateng is worth $55.66 Billion as of October 21 st, 2020. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. 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]. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. While its Western peers face further scrutiny on privacy, Tencent is less restricted. . China is home to the world's second-largest number of billionaires after the United States. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. Pony is Mas nickname, which comes from the English version of his surname Ma, which means horse. Ma is known for his reclusive lifestyle and rarely appears in the public. 4. Multiple theorical and practical studies indicate that the longitudinal multi-case approach is the best one in terms of properly investigating the results of qualitative inputs [23, 24, 25, 26, 27, 28]. 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. Ma Huateng is a proponent of the Chinese Communist Party. With a click on a red envelope icon, gifts of money could be sent to friends and family. He is said to own property in Hong Kong as well as art worth $150 million. But imitation, when executed well, is a valid form of innovation. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. These strategic partnerships are all options for future growth. He is married to Wang Dan-ting. Resilience is all part of Mas mission to face down internal and external attackers. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. 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? Mas tolerance of failure is strategic. In Hong Kong, he has a rebuilt palatial mansion of 1,820 m2 (19,600 sq ft). 10 principles for great leadership, according to Disney's Bob Iger. The definition of entrepreneurial leadership can be traced back to different theories about entrepreneurship [14], entrepreneurial orientation [15, 16], and entrepreneurial management [16]. Nine was the maximum number of samples in the list that allowed to keep a reasonable geographical balance across several geographic realms without mixing firms that were not really comparable in terms of size or level of achievements. In 1956, Ohno visited the USA to learn their supply and inventory methods. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. Creating back doors was a ring oence. Publishing on IntechOpen allows authors to earn citations and find new collaborators, meaning more people see your work not only from your own field of study, but from other related fields too. 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. (26.8 billion). "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. Younger employees understand what people want. IntechOpen Limited Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. 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 . The Tencent Group (HKG: $0700 ) has developed a good understanding of the consumer behaviour in the Chinese digital market after years of dominating the market - and also refined a rather unique business model. An interesting quote in terms of leadership styleas a paradigm of invention versus innovation in practiceis this one: In America, when you bring an idea to market, you usually have several months before competition pops up, allowing you to capture significant market share. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. With that purpose, they devised a new type of search engine tool to track the backing links of each site. Innovation has nothing to do with how many R&D dollars you have. The software soon gained traction, with more than a million registered users by the end of 1999, making it one of Chinas most popular online services. Zhang was concerned that Kik or similar products could rival Tencents QQ. They called the new search engine Googlea name derived from a misspelling of the word googol [48]. 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 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 launch of WeChat is a case in point. (TIE) Zhao Changpeng (Canada) Bloomberg. Japan, Alibaba Group Holding Limited; Jack Ma. Zhang regaled the audience with the tale of how, one night during the launch, he needed an urgent product change. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. [39] However Forbes has not decreased his net worth as the shares are still listed under his name. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. 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]. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. Teams also have freedom to compete. Alibaba and Tencent have repeatedly clashed over the same turf. [8][9] In 2018, he was named one of the "Most Powerful People In The World" by the CEOWORLD magazine. Tencent CEO Ma Huateng, also known as Pony Ma, started out making $176 a month and now has a net worth of $45 billion. We believe, and then we see. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. Wang Dan-ting is the wife of one of China's richest men, Ma Huateng, the founder of Tencent and QQ. Tencent's popular social messaging app WeChat has more than 1 billion users. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. Huateng is clearly a pioneer and innovator. Associate Editor, Encyclopdia Britannica. Jack Ma. 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. In 2000, Ma turned to US investment firm IDC and Hong Kong's telecom carrier Pacific Century CyberWorks (PCCW) who bought 40 percent of Tencent's shares for US$2.2 million. He red o an email and the next day a new software release was online. Profiles. 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]. [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . 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