He is the son of Ma Chenshu and Huang Huiqing. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. [8][9] In 2018, he was named one of the "Most Powerful People In The World" by the CEOWORLD magazine. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. Chinese internet entrepreneur (born 1971), "Bloomberg Billionaires Index: Ma Huateng", "Pony Ma, the global strategist with deep pockets", "Tencent posts 69 percent jump in quarterly net profit; becomes the most valuable company in Asia", Investing in China: The Emerging Venture Capital Industry, "The 100 Most Influential People in the World", Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders, Pg. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. 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. 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. The couple has a daughter named Ma Manlin. Mas visionary leadership is as uniquely prolific as that of Edison and Jobs. 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. He is married to Wang Dan-ting. Leadership style refers to the way the leaders represent their ways of running an organization. Corrections? 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 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. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. [10] Ma was a deputy to the Shenzhen Municipal People's Congress and a delegate in the 12th National People's Congress. If Tencents success in the early 2000s lets call it Tencent 1.0 was due to replication, that of Tencent 2.0 was down to incremental innovation. Ma also has sharp design insight. Autocratic leadership style. Taobao did not charge a fee but made money from online services and advertising. Tencent lost the case and had to relinquish the domain names. Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. While the leadership style of Westerners haven't evolved much in the last decade, the new generation of Chinese leaders have made a great leap forward by . 2023 Forbes Media LLC. Rev. 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]. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. Jack Ma. They were inspired by his ideas behaviour and way of managing his f business. Net Worth $67.5 billion (As of March 01, 2021) Ma Huateng's Assets: Tencent Holdings. And I think that same spirit can be put into products. While every effort has been made to follow citation style rules, there may be some discrepancies. Visionary leadership style. Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. 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]. People dont go to Toyota to work, they go there to think [88]. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. This is the first search effort that proves the link between the visionary leadership framework and firms that experienced disruptive successunicorns. Because of his alternative approach to leadership, which BK is all about, we took a deep dive into what makes Nadella so special and why he's a leader to look . [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. On being an inspirator: We look for people who are passionate about something. The founders like to be simple and dont like to be politicized. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . Therefore, Googles initial success was not based on disruptive innovation, but rather on revolutionary innovationthe development of relevancy ranking in the search engine sector [49, 50]. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. Ma led research and development of Internet paging system development at China Motion Telecom Development before starting Tencent in 1998. (TIE) Zhao Changpeng (Canada) Bloomberg. A widely accepted framework developed and tested by Conger and Kanungo [10, 11, 12, 13] defines four characteristics in charismatic leaders: (1) possessing and articulating a vision, (2) willing to take risk to achieve the vision, (3) exhibiting sensibility to the needs of followers, and (4) demonstrating noble behavior. Openness also means sharing. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. View our Privacy Policy to learn more. We believe, and then we see. 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. Part of Mas deck-spreading strategy is to take Tencent worldwide, in line with the Chinese governments One Belt, One Road national grand plan. As a youth in A Corua, Galicia, in northwestern Spain, Amacio Ortega gained an entry into the garment business by working as a delivery boy for a mens shirt store and assistant in a tailors shop. Ma's leadership style changed from transactional leadership to transformational leadership. Omissions? Tencents earlier e orts include investing in the US-based Snapchat. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. In 2017, Fortune ranked him as among the top businessmen of the year. 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. Changing a product in ight is tough. It was even risky, he thought, to rely too much on the founding team. As of January 2021, Ma is worth $46.8 billion which places him . His father, Ma Chenshu, moved to Shenzhen to work as a port manager when Huateng was quite young. Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. How has he created the capacity to pivot in anticipation of and response to changes? [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. Gates is as introverted, similar to Larry Page [45, 55] and, definitively, he is not as charismatic as Steve Jobs [39, 45, 71, 72], but, still, he has been equally visionary. 2 on China's 100 Richest last yearsaw his net worth tumble to $49.1 billion this year, as Beijing tightened rules on the countrys internet companies. 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 Always work hard on something uncomfortably exciting! [59]. 4 On China's 100 Richest 2021, Tencent CEO Ma Huateng Is Back On Top As Chinas Richest Person, Tencents Ma Huateng Overtakes Jack Ma As Chinas Richest Again Amid Coronavirus Lockdowns, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. London Business School takes your privacy seriously. He reportedly earned $176 per month. Ma himself . Still, Tencent has surged ahead and left national rivals like Baidu behind. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. . By giving the project the green light, Ma, in eect, gave Zhang full licence to cannibalise the existing QQ product. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. He is also a business leader. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. Reflects change since 5 pm ET of prior trading day. The companys influence on the Chinese market was immense. A strategy of continuous renewal Logical incrementalism All five leaders had a clear sense of where they wanted to lead their companies but theirs was not a grand vision, rather a sequence of goals Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. 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. Agility 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. [43] He owns a redeveloped palatial residence of 1,820 m 2 (19,600 sq ft) in Hong Kong. April 6, 2021. Openness This is related to our culture. Part of WeChats early success was its likeness to WhatsApp and Kik, designed for the smartphone. Twitter: @BiographyScoop Acad. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. After his return to China, Ma founded China Pages, a website page developer for Chinese businesses. 4. In 2010, Ma imitated Microsoft by forming two competitive engineering teams and assigning them the task of developing a new product. He was born in 50 years old as of 29 October 2021. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. 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. We should not give up the dream of scoring stunning goals in the science and technology . Take the use of ID cards in China. On being a pioneer: In a world thats changing really quickly, the only strategy that is guaranteed to fail is not taking risks [75]. For instance, he described Toyota in the following way: The Toyota style is not to create results by working hard. Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. 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. 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. Mandi is an experienced writer on various topics with a passion for telling stories with words. The rm also invested US$1.8 billion (1.3 billion) in Tesla. 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. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. So what can the rest of the world learn from the man behind it all? Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. 4. Innovation has nothing to do with how many R&D dollars you have. 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. During the next decade, Edison grew fast as successful mogul [62]. 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 He later managed a clothing store that catered to wealthy clients. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. 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. 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]. 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. The trip meant to represent the culture of the . Spain. 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). 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. VR, AI you name it, Ma is buying stakes in it. 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. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. Ma completed his remaining schooling from there and found a keen interest in computer technologies. Ma and his co-founders built a digital platform business from scratch over two decades and they have one of the largest data treasure chests on the planet to show for it. 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. For instance, the rst major chat app in China wasnt WeChat; it was Miliao, which was produced by Xiaomi. [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 Ma and his colleagues were inspired by the concept and developed a comparable program with a Chinese interface and a slightly different name OICQ (or, Open ICQ). Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. As organisations grow larger they often become insular and bureaucratic. Ma Huateng seldom appears in the media and is known for his secretive lifestyle. That gave Toyota an edge in terms of productivity and quality [86, 87]. 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. 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]. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. 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. From online services and advertising Zhang full licence to cannibalise the existing product. 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The next decade, Edison grew fast as successful mogul [ 62 ] Hathaway, Fargo. Whereas Pony Ma is buying stakes in it formative years and academics the birthplace Ma! Adapts a more stable strategy Chinas growth outlook of Internet paging system at!

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