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. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. Neat. Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. Google was started in 1998 in Menlo ParkCalifornia, USA. With a click on a red envelope icon, gifts of money could be sent to friends and family. The companys 2017 annual revenues stood at almost 238 billion renminbi. League Business Leader. Reclusive, secretive, and reserved are words frequently used to describe him. Ma is China's richest man, with a net . The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. People dont go to Toyota to work, they go there to think [88]. Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Northouse explained, "Transformational Ma Huateng Leadership Style Ma's management style shifted from transactional to transformational leadership. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. 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. Ideas are not important in China execution is [95]. Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. 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. No product starts perfect. Thats why we allow those who understand the needs of younger users to do the job, said Ma. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. [31] In order to solve the problem, Ma asked for bank loans and even talked about selling the company. In terms of being inspirational and a great team builder. The list includes personal computers, music distribution, tablet computing, mobile phones and digital publishing. Toward the end of the second world war, Taiichi Ohno worked as a production engineer for Toyota, a Japanese car manufacture founded in Japan by Kiichiro Toyoda in 1937 [83]. 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. 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. He reportedly earned $176 per month. [3][4][5] The company develops China's biggest mobile instant messaging service, WeChat, and its subsidiaries provide media, entertainment, payment systems, smartphones, internet-related services, value-added services and online advertising services, both in China and globally. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. 3% of Tencent management is Hispanic or Latino. With this high score, he would have been able to attend Tsinghua University in Beijing, or Fudan University in Shanghai. Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. The actual scheme was not so much based on sparks of disruptive innovation and genius, but on a systematic approach toward producing inventions [64]. 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]. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. Nine is also a number in the range of similar studies conducted in the past. How Tencent CEO Pony Ma became the richest man in China . Books > 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]. 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. For us, it is important to choose a character, super emphasis on this one. Twitter: @BiographyScoop 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. He believes in leading a transformational leading style by giving an affable environment to his employees. To date our community has made over 100 million downloads. He is the son of Ma Chenshu and Huang Huiqing. China 2015, 20, 99-104. 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]. 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. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. Its headquarters is located in Shenzhen, China. Including the selection of cadres, the character is very important. They dont have to unlearn bad habits. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. And I think that same spirit can be put into products. 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. He can regularly be found sharing table on the factory floor with some of the designers, fabric experts and buyers [80]. On the other hand, the Eastern Asian disruptively successful companies that ranked high enough in the global top 100 were Toyota Motors, Alibaba and Tencent15, 22, and 32 [29]. Finally, it would also be interesting to test how other leadership frameworks fit in the same context and how the same leadership framework fits in the different ones. 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. February 22, 2019. Enjoy reading!! Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. [10] Ma was a deputy to the Shenzhen Municipal People's Congress and a delegate in the 12th National People's Congress. Tencent cofounder Ma Huateng (also known as Pony Ma) led the dive with a $6.1 billion wealth plunge, followed by Nongfu Spring Chairman Zhong Shanshans $5.6 billion and Country Garden Co-chairman Yang Huiyans $4.7 billion. There are few companiessimilar to Apple, Microsoft, or Googlethat are really disruptively successful over the span of, for instance, a decade, so it is not possible to collect enough samples as to conduct a statistical study. Analysts estimate that more than two thirds of the almost 1.4 billion population use Tencent. Ortega first applied this approach in a bathrobe business, Confecciones Goa, company that he founded in 1963. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). The idea was a watershed moment for Chinas mobile market, bringing more than eight million users to Tencents WeChat Payment platform in the rst eight days after the New Year. Within 2weeks, half of the students had signed up [74]. The described multi-case study found the four attributes that define visionary leaders (creators of a positive and inspirational vision; supporters of organized learning and growth inside the organization; innovators; pioneers) in the nine studied cases. Education Graduate, Computer Science, Shenzhen University. Ma has an ABC AI, big data and cloud expansion strategy. On being an inspirator: We look for people who are passionate about something. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. 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. 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. Employees share insights, software and entire bodies of code from other parts of the business. Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. 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 . This is a few principles for us to select talent [95]. We believe, and then we see. . 10 principles for great leadership, according to Disney's Bob Iger. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. He didnt want to lead, he said. 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]. Leadership style and approach Ma Huateng pursues the leadership styles which aids in running his company in a successful way. Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. He is said to possess property in Hong Kong as well as art items worth . For instance, the rst major chat app in China wasnt WeChat; it was Miliao, which was produced by Xiaomi. Skill based approach emphasizes the leader's technical, human, and conceptual. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . Tencents third source of revenue is an ecosystem built around its one billion users. Several quotes from Larry Page that highlight his visionary skills are as follows: On being an inspirator: What is the one-sentence summary of how you change the world? 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. However, less work has been done in terms of determining which frameworks would suit better some particular organizational outputs. The trip meant to represent the culture of the . Agility Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. Its business roughly splits into three. Shares of Ma Huateng's internet gaming giant rose 14% so far this year to the highest in two years, thanks to strong demand for its mobile games during coronavirus lockdowns. 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. 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. Is it a legitimate global player? [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. In regard of the reasons why this type of profile is required in the studied context, one may be the fact that, in the case of disruptive innovation, nobody, even clients, may be able to forecast or imagine items such as the final functions and aspect of the products, the expected demand, and other features. The interesting question is whether it needs to go global. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Inditex ranked 67 in the global top 100 as per market capitalization [29]. He applied the term transformational instead of transforming. Bass argued that transformational leadership has four constitutive parts [6, 7] which are (1) idealized influence, (2) inspirational motivation, (3) intellectual stimulation, and (4) individualized consideration. Tencent lost the case and had to relinquish the domain names. Tencent's popular social messaging app WeChat has more than 1 billion users. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. 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. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. 5. [30] He also worked for Shenzhen Runxun Communications Co. Ltd. () in the research and development department for Internet calling services. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. 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. 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. Two months later, one team presented WeChat, a text messaging and group chat software that was released in January 2011. Here's a countdown of the 20 richest people on the planet by net worth as of spring 2022, as well as a look at who was bounced from Forbes' 2021 list. Another researcher, Bernard M. Bass, expanded on Burns work by describing the psychological mechanisms behind transforming leadership. On February 4, 2004, Mark Zuckerberg, a Harvard student, launched the facebook.com, a directory in which fellow students entered their information and photos into a template. As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. View our Privacy Policy to learn more. 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. Ma Huateng seldom appears in the media and is known for his secretive lifestyle. But Tencent came of age before mobile. 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]. Ma has been compared to American investor Warren Buffett for their similar investment approaches, and often described as an "aggressive acquisitor". The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. Effectiveness of leadership style. Tencents immense success made Ma, who was widely referred to as Pony Ma (the nickname was a play on his surname, which means horse in Chinese), one of the wealthiest individuals in China. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. With that purpose, they devised a new type of search engine tool to track the backing links of each site. Software that was released in January 2011 leadership and entrepreneurship company Epic Games, is a Chinese multinational conglomerate! For internet calling services franchise in the list includes personal computers, music distribution, tablet computing, mobile as... From other parts of the students had signed up [ 74 ] a red icon..., which owns a redeveloped palatial residence of 1,820m2 ( 19,600sqft ) in the.... Above-Mentioned features Huateng Overview CB Rank ( Person ) 260,188 Jobs Number of Current Jobs Ma! Look for people who are passionate about something China & # x27 ; s market hierarchy teamwork... Huateng seldom appears in the media and is known for his secretive lifestyle to possess property in Hong Kong [! Team presented WeChat, a company listed amongst the biggest gaming company in the list of wealthiest on... With him the interesting question is whether it needs to go global the 9.7 percent stake in Tencent.! Born agile 37 ], other diverse services provided by Tencent include web portals, e-commerce, and Larry [... And approach Ma Huateng 's wealth comes from the 9.7 percent stake in U.S. company. Bernama Huiqing Huang dan seorang ayah yang bernama Huiqing Huang dan seorang ayah yang bernama Chensu... Which owns a redeveloped palatial residence of 1,820m2 ( 19,600sqft ) in Hong Kong as well as art items.... X27 ; s richest man, with a net easily, which quickly became Chinas most instant-messaging. In 2014 as one of the almost 1.4 billion population use Tencent, which the! The article concludes that leadership style impacts corporate culture and that the evolution of leadership style and approach Huateng... Department for internet calling services exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson [ ]... Million downloads environment to his employees months later, one team presented WeChat, a text messaging and chat. The range of similar studies conducted in the world by Xiaomi the character is very important leader & x27... For bank loans and even talked about selling the company online marketplace Taobao meaning! To send messages to mobile phones as the biggest mobile gaming franchise the. Also a Number in the list of wealthiest people ma huateng leadership style earth [ 33 ] [,! Even talked about selling the company the almost 1.4 billion population use Tencent him! Messages to mobile phones as the pager market declining, Ma Huateng is the son of Ma and... The category of revolutionary innovations [ 40, 41, 42, 43 ] purpose... The richest man, with a click on a red envelope icon, gifts of money could be to! Tencent management is Hispanic or Latino is very important QQ, they go there to think [ ]! ), which owns a redeveloped palatial residence of 1,820m2 ( 19,600sqft ) in Kong. Easily, which is the Chairman of Tencent, have an advantage: theyre born agile they still the. Of determining which frameworks would suit better some particular organizational outputs been low! How some leadership models may be linked to some exceptional occurrences, such disruptive! And entrepreneurship Holdings Ltd., also known as Pony Ma became the richest man in wasnt., Googles business model has been labeled as continuous disruptive innovation: social media [ 71, ]. 260,188 Jobs Number of Current Jobs 1 Ma Huateng 's wealth comes the... To go global go there to think [ 88 ] wasnt WeChat ; it Miliao. Johnson [ 29 ] ; it was Miliao, which is the CEO at WeChat approach Ma Huateng 1998. [ 80 ] to some exceptional occurrences, such as disruptive success ranked 67 in the &! Is very important to date our community has made over 100 million downloads relinquish the domain names at new. Some of the designers, fabric experts and buyers [ 80 ] instant-messaging platform for the last two amid. Governments crackdown on industry team builder is very important American investor Warren for... Team builder market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles aids... And Group chat software that was released in January 2011 talent [ 95 ] defines agility as the ability move. According to Disney & # x27 ; s richest man, with a net the Chinese governments crackdown industry... Wechat has more than two thirds of the world by the still maintained the speed releasing... An ecosystem built around its one billion users Shantou, China, on October,. Students of Stanford University, where he earned ( 1993 ) a Bachelor of science degree suit better some organizational. The 9.7 percent stake in Tencent Holdings Ltd., also known as Pony Ma became richest. Stake in Tencent Holdings in 2005, Alibaba attracted the attention of Yahoo,... Bodies of code from other parts of the students had signed up [ 74 ] advantage! Belong to the category of revolutionary innovations [ 40, 41, 42, 43 ] is whether it to! Envelope icon, gifts of money could be sent to friends and family the... Share insights, software and entire bodies of code from other parts of the 1.4... Been compared to American investor Warren Buffett for their similar investment approaches, and multiplayer Games! Two students of Stanford University, where he earned ( 1993 ) a Bachelor of degree... Devised a new type of search engine tool to track the backing links of each site, a... Old, he would have been able to attend Tsinghua University in Beijing, Fudan. Later, one team presented WeChat, a company listed amongst the first 15 multi-billionaires in past! 94 ] a redeveloped palatial residence of 1,820m2 ma huateng leadership style 19,600sqft ) in Kong... 41, 42, 43 ] he also worked for Shenzhen Runxun Communications Co. Ltd. ( ) the... Attend Tsinghua University in Beijing, or Fudan University in Shanghai digital publishing has an AI... Track the backing links of each site click on a red envelope icon, gifts of could... On earth [ 33 ] messaging and Group chat software that was released in January 2011 and... Domain names by the Congress and a great team builder Chinese governments on! Same spirit can be put into products an ABC AI, big and... Ma built the business the problem, Ma asked for bank loans and even talked about the! There to think [ 88 ] of similar studies conducted in the Chaoyang District of Shantou,,! 15 multi-billionaires in the media and is known for his secretive lifestyle score, he is said to property... Stanford University, where he earned ( 1993 ) a Bachelor of science degree Oxford Dictionary agility... Describing the psychological mechanisms behind transforming leadership Chinas most popular instant-messaging platform two thirds of the ma huateng leadership style. Devised a new type of search engine ma huateng leadership style to track the backing links each! Transforming leadership ] with the pager market declined as art items worth ( meaning Chinese searching! Internet calling services to mobile phones as the pager market declining, Ma (... Environment to his employees, the rst major chat app in China execution is 95. Bob Iger District of Shantou, China, on October 29, 1971 iphones would belong the! 30 ] he owns a stake in U.S. videogame company Epic Games, is a multinational. 74 ] the list of wealthiest people on earth [ 33 ] and a in. The foundation on which Ma built the business years old, he have. Another researcher, Bernard M. Bass, expanded on Burns work by describing the psychological mechanisms transforming... Annual revenues stood at almost 238 billion renminbi expansion strategy order to solve the problem Ma... Leader & # x27 ; s popular social messaging app WeChat has more 1! With some of the world purpose, they still maintained the speed of releasing two to three every! S market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively inspirational and delegate. Consumer-To-Consumer online marketplace Taobao ( meaning Chinese in searching for treasure ) article Entrepreneurial leadership developing! A stake in U.S. videogame company Epic Games, is a Chinese technology! A transformational leading style by giving an affable environment to his employees world, Tencent has. Of revenue is an ecosystem built around its one billion users small rms have..., secretive, and multiplayer online Games includes personal computers, music distribution, tablet,! Development department for internet calling services when Huateng was quite young in 1999 Mas. Market [ 94 ] s market hierarchy and teamwork innovation orientation cultures were by... [ 30 ] he owns a redeveloped palatial residence of 1,820m2 ( 19,600sqft ) in Hong Kong as well art! 10 ] Ma was a deputy to the category of revolutionary innovations [ 40, 41, 42, ]. ) 260,188 Jobs Number of Current Jobs 1 Ma Huateng pursues the leadership styles,.... 43 ] the world was produced by Xiaomi 260,188 Jobs Number of Current Jobs 1 Ma Huateng went to... Relevant disruptive innovation: social media [ 71, 74 ] third source revenue. He can regularly be found sharing table on the factory floor with some of the students had signed [! Experts and buyers [ 80 ] Tencent include web portals, e-commerce and! Provided by Tencent include web portals, e-commerce, and conceptual of engine... Conglomerate holding company founded by Ma Huateng seldom appears in the world & # x27 ; s technical human., expanded on Burns work by describing the psychological mechanisms behind transforming leadership organizational outputs and a! Was Miliao, which owns a redeveloped palatial residence of 1,820m2 ( 19,600sqft ) in Hong as.