In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. So, its big. Still, Tencent has surged ahead and left national rivals like Baidu behind. 1. Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. Instagram: biographyscoop. At a tech conference in Singapore, I discussed censorship. Email: A recurring leadership style in this paper is the transformational le adership style which, according to Northouse (2004), is "one of the current approaches to leadership that has been the focus of much research since the early 1980s" (p. 169). On his role as a supporter of organized learning and growth inside the organization: My job as a leader is to make sure everybody in the company has great opportunities, and that they feel theyre having a meaningful impact and are contributing to the good of society. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. 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. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. I try to focus on that: What is the future really going to be? While its Western peers face further scrutiny on privacy, Tencent is less restricted. 2022 The Author(s). Tencent's popular social messaging app WeChat has more than 1 billion users. 2004, 29, 222-240. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. 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. 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]. The rm supports a mind-bending number of apps directed at improving peoples everyday digital lives, including its own version of Uber, Didi Dache. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). Home > Therefore, the framework that appeared to suit the best in terms of analyzing environments that combine entrepreneurship and innovation is that of visionary leadership [20, 21, 22]. The companys 2017 annual revenues stood at almost 238 billion renminbi. 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. Tencent has 85,858 employees, of which 46 are in a leadership position. Tencent, which owns a stake in. Changing a product in ight is tough. Pages personality traits, like his introverted tendencies, may not fit the profile of a charismatic leader [55, 56, 58, 60], but he definitively does in that of a visionary leader. 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]. Tecent also operated the social networking site Qzone, which boasted more than 670 million monthly active users in 2015, making it the worlds third largest social network, behind only Facebook and YouTube. Analysts estimate that more than two thirds of the almost 1.4 billion population use Tencent. However, he definitively qualifies as a visionary leader. Tencent. Inditexs business model, which is based on flexibility and speed, requires a vertically integrated value chain that differs greatly from that of other competitors, like Benetton and Mango. Tencents earlier e orts include investing in the US-based Snapchat. The actual scheme was not so much based on sparks of disruptive innovation and genius, but on a systematic approach toward producing inventions [64]. The second is to look at professional ability and coordination, intelligence and so on. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. TENCNET PONY MA ZIXIN LUO(RITA) 4010255 Outline Outline Pony Ma's background TENCENT PONY MA'S MANAGEMENT STYLE CONCLUSION References list Pony Ma's Achievement LEADERSHIP STYLE Pony Ma' background Pony Ma's background He was born on October 29, 1971. 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. One is Alibaba founder Jack Ma, who is fairly well known in the States, and the other is Ma Huateng, . We have added your email address to our mailing list and we hope you enjoy our thought leadership. 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. Ma Huateng is a business tycoon, an entrepreneur, an engineer, a philanthropist, and an investor. But theyre allergic to rules. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. The list of selected American corporations included the top five that could be considered disruptively successful firms as per the rapid growth: Apple, Google, Microsoft, General Electric, and Facebook [29]. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. Tencent lost the dispute, and the domain names had to be relinquished. During the last two decades, there is an increasing number of leadership theories and frameworks. 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. 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. 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 The trip meant to represent the culture of the . It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. This type of leadership is best used when there is a big change in the company or a clear direction is needed. But Mas early focus was on what he knew. According to Ma, "giving up is the greatest failure. Based on our data team's research, Ma Huateng is the Tencent's CEO. Acad. (TIE) Zhao Changpeng (Canada) Bloomberg. 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. Everything started in 1995, during a trip to the USA, when Jack Ma learned for the first time about website portals and Internet. In those days, Toyota was much less productive than its Detroit-based competitors, the Big ThreeGeneral Motors, Ford, and Chrysler [83]. Hum. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. What do they fundamentally do wrong? 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? Please refer to the appropriate style manual or other sources if you have any questions. 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. The other American companies ranked in-between in the original list were not disruptively successful ones e.g. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. Ma changed the softwares name to QQ in December 2000. 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 . 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 His passions kept changing over the time. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. Two months later, one team presented WeChat, a text messaging and group chat software that was released in January 2011. This is related to our culture. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. 4. 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. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. From mobile payments to taxi hailing, users can live their lives on one app. As the most popular industries in Shenzhen . Ma quickly embraced open-source software. 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. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. 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). Zhang regaled the audience with the tale of how, one night during the launch, he needed an urgent product change. Japan, Alibaba Group Holding Limited; Jack Ma. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. 3. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). Ma also has sharp design insight. Profiles. Youve got no business in the workplace if you are just there to be there. *Address all correspondence to: alberto.aba@gmail.com. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. What about Tencent 3.0? Opps.. Something goes wrong. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. Alibaba and Tencent have repeatedly clashed over the same turf. Please try again later. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. Employees become disengaged. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. On being an innovator: People think innovation is just having a good idea but a lot of it is just moving quickly and trying a lot of things [75]. Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. Let China's internet giants tell you", "Ma vs. Ma: The most expensive house in Hong Kong belongs to one of China's internet kings - but is it Jack or Pony? My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. A charismatic leader is a person, who has the ability to influence people and who, consequently, has some controlling power over them [9]. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. Besides, the analyzed variables are not quantitative in nature. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. No product starts perfect. 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. The participative leadership style is highly effective in achieving the business goals and vision of the organization. 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