The companys influence on the Chinese market was immense. All Rights Reserved. Pony Ma's leadership style can be as unusual as his nickname. Tencent subsequently gained the backing of two overseas venture-capital firms, and in June 2004 the firm raised nearly $200 million when it went public on the Hong Kong stock exchange. He didnt have grand ambitions to build a great enterprise. He is the founder, chairman, and CEO of Tencent, which is China's most valuable company. [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). Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. Instagram: biographyscoop. 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. View our Privacy Policy to learn more. 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. 6. 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. (sometimes unknowingly) work on variations of the same product lines, can create waste. 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. Tencent, which owns a stake in. Chairman and CEO, Tencent Holdings. 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 Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. 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. Its not about money. Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. 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]. Yang Huiyans riches evaporate as her Country Gardens stock plunges 84% amid real estate squeeze. Leadership. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. UNITED KINGDOM, Leadership - Advancing Great Leadership Practices and Good Leaders, Leadership - Advancing Great Leadership Practices and Good Leaders [Working Title], Ranked in the list of the 20 most influential Americans of all times [, Ranked in the top of the greatest innovators of all times according to the Lemelson-Mit Invention Index [, Lean manufacturing, Just-In-Time (JIT), and derivative approaches created by Ohno are still currently used by a large percentage of manufacturing firms [, Industria de Diseo Textil, S.A. (Inditex). 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]. His passions kept changing over the time. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. 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. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was . [39] However Forbes has not decreased his net worth as the shares are still listed under his name. The three most common leadership styles include skill based, trait based, and behavior based approaches. 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. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). 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. This chapter reviews relevant literature in order to identify the leadership framework and profile that may better characterize entrepreneurs and business leaders that eventually founded or developed disruptively successful firmspopularly known as unicorns. Next, the chapter describes a conducted multi-case study that demonstrates a strong correlation between the positive checkmarks in the selected leadership frameworkvisionary leadershipand the profile of the leaders of nine different international corporations that became industry leaders in less than 20years (Apple, Google, Microsoft, Facebook, General Electrics, Toyota, Alibaba, Tencent, and Inditex). Ma completed his remaining schooling from there and found a keen interest in computer technologies. 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]. With a click on a red envelope icon, gifts of money could be sent to friends and family. [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. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. With this high score, he would have been able to attend Tsinghua University in Beijing, or Fudan University in Shanghai. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. Satya Nadella is a leader on the risefor the last five years, he's served as the CEO of Microsoft, quickly earning a name for himself in the world beyond tech. What do they fundamentally do wrong? 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 On being an innovator: Invention is not enough. 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. [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. How Tencent CEO Pony Ma became the richest man in China . Steve Jobs leadership style & personality. Still, there are little doubts that Page congregates the four attributes that define a visionary leader, as several authors already validated in their studies [18, 57, 58]. 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. [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 He is married to Wang Dan-ting. For us, it is important to choose a character, super emphasis on this one. Ma Huateng is a proponent of the Chinese Communist Party. To date our community has made over 100 million downloads. The launch of WeChat is a case in point. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have After the AOL case, Ma decided to expand the business portfolio of Tencent. WeChat hit most global markets in 2012. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. 5 On Chinas 100 Richest 2022 Despite A Drop In Wealth, Taiwan Billionaire Rudy Ma, Founder Of Yuanta Financial Holdings, Dies At 82, Three Of Chinas Richest Lose More Than $16 Billion In One Day As Stock Rout Hits Hong Kong-Listed Companies, Tencents Pony Ma Falls To No. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. What about Tencent 3.0? Acad. Past attempts at breaking the international market alone havent fared well. [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. In the case of the selected framework, the results are the ones that tell if this choice was right. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. It can be observed that, in 89% of the cases, the leaders either outperform their already outperforming firms, in terms of value rankingsBill Gates, Mark Zuckerberg, Amancio Ortega or enjoy even more prestige and recognition than the companies that they started up. Neat. Ma has an ABC AI, big data and cloud expansion strategy. Northouse explained, "Transformational Employees become disengaged. Contact our London head office or media team here. 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. Education Graduate, Computer Science, Shenzhen University. This is related to our culture. February 22, 2019. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. Leadership style and approach Ma Huateng pursues the leadership styles which aids in running his company in a successful way. Always work hard on something uncomfortably exciting! [59]. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. 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. Its business roughly splits into three. It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. Jobs and Wozniak later designed a far better product, the Apple II [39]. Nationality Chinese. Tencent provides mass media, Internet and mobile phone value-added services including web portals (QQ.com), social networks, popular instant messenger (Tencent QQ), online games, e-commerce, and series of . Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. 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. The battleground is vibrant. Autocratic leadership style. [27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. After two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. We have added your email address to our mailing list and we hope you enjoy our thought leadership. 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