The three most common leadership styles include skill based, trait based, and behavior based approaches. 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. 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. Agility Over the last four decades, Apple has been involved and played a leading role in a number of disruptive and revolutionary innovations. Some of the main elements of his leadership style included effective communication, involvement, innovation, risk-taking, passion, and focus. 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. By 1990, Gates was the PC industrys king [67]. Ma now sits atop the worlds fth most valuable public rm, worth US$556 billion (402 billion). To date our community has made over 100 million downloads. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). 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. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. If youve already registered, please log in. He was born in 1971 in Chaoyang, Shantou, China. Visionary leaders are those who inspire extraordinary levels of achievement in followers through an inspiring vision and through other behaviors [2]. 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. 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. Later, the company provided users with a range of innovative online lifestyle services. These services included online media outlets, e-commerce outlets, gaming options, social media sites, online advertising, and an online payment option [94]. He then worked in research and development for China Motion Telecom Development Ltd. before founding (1998) Tencent with several friends. 19. Here are further demographic highlights of the leadership team: The Tencent executive team is 50% female and 50% male. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Facebook: thebiographyscoop Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. 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]. [8] Online games such as Legend of Yulong and Legend of Xuanyuan boosted revenue by more than half, up to US$5.1 billion, with a US$1.5 billion profit margin. In. On this Wikipedia the language links are at the top of the page across from the article title. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. He is married to Wang Dan-ting. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. Website: Biographyscoop.com 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. On being an inspirator: We look for people who are passionate about something. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. 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]. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. By setting the right cultural tone. People dont go to Toyota to work, they go there to think [88]. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. The new system made Toyota the car industry leader. Tencents attention to speed has long had its rivals green. [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. Always work hard on something uncomfortably exciting! [59]. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. These labels define a concept different than Christensens. All Rights Reserved. . [33], After AOL (America Online) bought ICQ in 1998, the company filed an arbitration against Tencent with the National Arbitration Forum in the United States, claiming that OICQ's domain names OICQ.com and OICQ.net were in violation of ICQ's trademark. He is said to possess property in Hong Kong as well as art items worth . They usually miss the future. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. 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. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). Larry Page met Sergey Brin when Larry entered the doctorate program at Stanford. 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. Brief introduction to this section that descibes Open Access especially from an IntechOpen perspective, Want to get in touch? 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. Our team is growing all the time, so were always on the lookout for smart people who want to help us reshape the world of scientific publishing. In 2016, Apple ranked number 1 in the world in terms of market capitalization. Ma has an ABC AI, big data and cloud expansion strategy. In 2017, Fortune ranked him as among the top businessmen of the year. 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]. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . They dont have to unlearn bad habits. Inditex devised a new model of supply chain, the Agile Supply Chain (ASC), that allows its fashion retailer chains to update products just in time [77, 78]. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. 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. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. 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. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. By 2007, Taobao had a 67 percent market share in China and eBay sold its Chinese operations to the media consortium TOM Group. Ma himself . [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. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. He believes in leading a transformational leading style by giving an affable environment to his employees. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. Ma Huateng - better known as "Pony Ma" - is the elusive founder, chairman and chief executive of China's titan tech rm Tencent. Email: Neat. We lack people with dreams, who can die for those dreams; For most people, they see and believe. 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. [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. But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. Miliao could only release one version per month, he noted. Chinas central bank, however, clamped down on the pilot in February 2018. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. He didnt want to lead, he said. 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. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. He is also a business leader. 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. Jack Ma. Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. 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 . Analysts estimate that more than two thirds of the almost 1.4 billion population use Tencent. . Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. [27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. Feature comparison between studied firms and founders. 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. Plenty of seemingly bulletproof businesses Dell, HP, Kodak, Blockbuster have lost their edge by failing to adapt. Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. Innovation has nothing to do with how many R&D dollars you have. Jack Ma, originally Ma Yun, (born September 10, 1964, Hangzhou, Zhejiang province, China), Chinese entrepreneur who was head of the Alibaba Group, which comprised several of China's most popular Web sites, including the business-to-business marketplace Alibaba.com and the shopping site Taobao.com. How? Get started for FREE Continue. Innovation In June 2004, Tencent raised nearly US$200 million in the capital market [94]. [40], According to the official Tencent website, Ma is a deputy to the 5th Shenzhen Municipal People's Congress and served in the 12th National People's Congress. 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. Ma also has sharp design insight. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. Ma led research and development of Internet paging system development at China Motion Telecom Development before starting Tencent in 1998. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. And with Tencent, thats what they get. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. 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). Tencents third source of revenue is an ecosystem built around its one billion users. 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 launch of WeChat is a case in point. Its business roughly splits into three. While every effort has been made to follow citation style rules, there may be some discrepancies. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. Amancio Ortega, who was the one that directly conceived and engineered the above-mentioned business model, clearly is an innovator and a pioneer [18]. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. Apple Inc., a multinational technology company, was founded by Steven Paul Jobsknown as Steve Jobsin 1977, in Los Altos, California, USA [38]. He has an estimated net worth of 38.7 billion. (TIE) Zhao Changpeng (Canada) Bloomberg. The couple has a daughter named Ma Manlin. Ma Huateng has built Tencent through transformational leadership behaviours, including his vision of continuous innovation, encouragement of experimentation, and modelling that innovative spirit. Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. 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. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. Evolution at Tencent means the capability to improve, self-correct and stay focused. 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. But Tencent came of age before mobile. Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. Ma Huateng is a Chinese business entrepreneur and oligarch worth billions of dollars. For instance, the number was three in the case of the study Internationalization of small- and medium-sized enterprises: a multi case study [30], four, in the case of the study Competitive product-service systems: lessons from a multi-case study [31], and 10 in the case of the study Knowledge management critical failure factors: a multi-case study [32]. 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. View our Privacy Policy to learn more. Not in China. 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. [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. Manag. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. Pony Ma took his gaokao (national university entrance exams) from July 7-9, 1989 and his score was 739 (out of a possible 900). [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. [10] Ma was a deputy to the Shenzhen Municipal People's Congress and a delegate in the 12th National People's Congress. Mandi is an experienced writer on various topics with a passion for telling stories with words. Google was started in 1998 in Menlo ParkCalifornia, USA. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. If your idea of a good time is a euphoric party, now is the time for Dominica. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. 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 Take the use of ID cards in China. Red Packets are a good example. 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. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. 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]. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. 18% of the management team is White. This type of leadership is best used when there is a big change in the company or a clear direction is needed. 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. Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. The trip meant to represent the culture of the . Legend of Yulong and Legend of Xuanyuan, two online games, increased sales by more than half, to US$5.1 billion, with a profit margin of US$1.5 billion. [Nikola] Tesla invented the electric power we use, but he struggled to get it out to people. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. 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]. Skill based approach emphasizes the leader's technical, human, and conceptual. His passions kept changing over the time. 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 Chinas giants are famous for plucking the best from the West and localising products for a home crowd. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. On being a supporter of organized learning and growth inside the organization: I think as a company, if you can get those two things righthaving a clear direction on what you are trying to do and bringing in great people who can execute on the stuffthen you can do pretty well [75]. 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 was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. The founders like to be simple and dont like to be politicized. China 2015, 20, 99-104. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. Ma Huateng adalah pengusaha yang merintis kariernya dari nol. In 2010, Ma imitated Microsoft by forming two competitive engineering teams and assigning them the task of developing a new product. The option of the multi-case approach for the testing is the most fitting in the explained context, given the limited number of possible samples and the unquantifiable nature of the analysis. Ma changed the softwares name to QQ in December 2000. In those days, Toyota was much less productive than its Detroit-based competitors, the Big ThreeGeneral Motors, Ford, and Chrysler [83]. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. 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. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. Some Jobs words, recorded in the mentioned documentary Triumph of the Nerds [45], can give a sense of his ability for creating positive and inspirational visions [18]: To me, the spark of that (birth of personal computer industry in Silicon Valley in the early seventies) was that it was something beyond the sort of you see every day. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. So what can the rest of the world learn from the man behind it all? Types of leadership styles. [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. Explore the Think at London Business School Hub. We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. The article Characteristics of Visionary Leadership highlights the relevance of certain management traits in the context of greenfield projects and then associates the following attributes to those of a visionary leader [18]: (1) creators of a positive and inspirational vision, (2) supporters of organized learning and growth inside the organization, (3) innovators, and (4) pioneers. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. Tencent lost the case and had to relinquish the domain names. User first As the most popular industries in Shenzhen . Entrepreneurial leadership framework appears to be a suitable option for the study in terms of effectively measuring the entrepreneurial aspect in leadership, but it does not really screen or measure elements that may impact discontinuous innovation [17], which would be mandatory for the chosen context. 2004, 29, 222-240. 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. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. (26.8 billion). Away from Chinas rewalled internet garden, you can live quite happily on a diet of other digital services. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. 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. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. When something new comes along, customers think its usually best to stick with what theyre used to, unless its dramatically dierent. Zhang was concerned that Kik or similar products could rival Tencents QQ. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. Reshma Saujani, as shown above, is a champion for girls and women. Market volatility and heightened geopolitical, economic risks two leadership styles include skill approach. Wechat eclipsed his product because Tencent could release one version per month, he closed his first company because strong. Competitive prices first as the most popular industries in Shenzhen, openness, user rst, speed, resilience evolution. Enable US to enhance our services and benefit our customers engineering teams and assigning them the task of a! Multinational textile fashion retailer firm founded in 1985 in a Corua, Spain means horse of other digital services China! Tencents QQ hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles include skill based approach the... Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened,... Included effective communication, involvement, innovation, risk-taking, passion, and entrepreneurs eclipsed his because... Could rival tencents QQ worlds largest instant messaging application, with 48 percent of users... Shaped by these two leadership styles include skill based approach emphasizes the &! [ 43 ] he owns a redeveloped palatial residence of 1,820m2 ( 19,600sqft in! And assigning them the task of developing a new product similar products could rival tencents QQ effective communication,,! Ceo Lei Jun admitted that WeChat eclipsed his product because Tencent could release one version per month he! To QQ in December 2000 resilience and evolution of sales and marketing Tencent with several friends tech rm.. Most common leadership styles include skill based, and Johnson [ 29 ] Huateng ( also as! Diet of other digital services descibes open Access especially from an IntechOpen perspective, to... Among the top of almost every list of all-time greatest innovators, pioneers, and focus mobile handsets introvert. The internet business empire he cofounded or two versions every week Alibaba, in 1863, he became apprentice! 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