Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. February 22, 2019. [5], Being one of "Fortune world's greatest leaders",[11] Ma is known for his low profile personality as compared to fellow Chinese businessman and Alibaba founder Jack Ma's outgoing personality. 4. The three most common leadership styles include skill based, trait based, and behavior based approaches. In 2016, Apple ranked number 1 in the world in terms of market capitalization. Always work hard on something uncomfortably exciting! [59]. Associate Editor, Encyclopdia Britannica. Effectiveness of leadership style. After his return to China, Ma founded China Pages, a website page developer for Chinese businesses. Evolution at Tencent means the capability to improve, self-correct and stay focused. Only in the case of Larry Page, the achievements and profile of the leader appears to be, arguably, less remarkable than that of his own company. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. Home > 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. Under Mas guidance, it is shoring up its strategic options, investing in game-changing technologies set to be the next big thing. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. 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. A year later the company launched the Internet-based QQ service (then called OICQ), which soon became one of Chinas most-popular instant-messaging platforms. Home prices slumped for a third-straight month in September; Twitter quietly stopped enforcing its Covid-19 misinformation policy; meet the youngest honorees on Forbes 30 Under 30 2023 list; and more. Internal battles, where two teams can The internet sector in China is politically policed, but it is also lightly regulated. Reclusive, secretive, and reserved are words frequently used to describe him. Ma Huateng. Tencents people are in search of excellence. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. Analysts estimate that more than two thirds of the almost 1.4 billion population use Tencent. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. The World's 10 Most Powerful Executives This year's Forbes list (May 10, 2018) of the World Most Powerful included 75 namesone for every 100 million people on earth. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. Eventually, during the last two decades, this model helped Google to be involved in a relevant number of discontinuous innovations, including Android, YouTube, Google Books, and Google Maps, and some continuous ones, such as Chrome or Gmail [54, 55]. He immediately realized that the design of portals could be a great business opportunity in the yet-unformed Chinese market, especially in the business segment. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. Unlike other studies [1, 2, 3, 30, 31, 32], the presented multi-case study focuses on a very specific business context: that of the creation of exceptionally successful firms such as Apple, Google, Facebook, or Tencent. The other American companies ranked in-between in the original list were not disruptively successful ones e.g. Tencent's popular social messaging app WeChat has more than 1 billion users. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Google was started in 1998 in Menlo ParkCalifornia, USA. In 2017 Tencent opened its rst data centre in Silicon Valley and announced plans for ve more outside China. Get started for FREE Continue. In the future, it would be interesting to conduct more targeted research that could, both, give more details on the profile and the role of these leaders in the stated context and further describe the associated leadership attributes. Innovation Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. But Mas early focus was on what he knew. [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. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. He summarised seven deadly sins of product managers, saying that developers undermine their products by convoluting them beyond recognition: Spending core resources and time repeatedly on the optimisation of the obvious characteristics is basically the mania of novice internet entrepreneurs.. In 1956, Ohno visited the USA to learn their supply and inventory methods. But theyre allergic to rules. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Unshackled by rules, Tencent employees have freedom to act to invent, to problem solve, to wow. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. 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 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. 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. Ortega also is, as most of the previously analyzed leaders, an introvert. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was cofounder and CEO (1998- ) of Tencent Holdings Ltd., one of the world's largest Internet companies. 19. 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 . Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. 1. Ma also has sharp design insight. That's why the need for online management is increasingly urgent. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. Including the selection of cadres, the character is very important. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. Chinas central bank, however, clamped down on the pilot in February 2018. 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]. [32], Talking about the founding of Tencent, he told China Daily in a 2009 interview that "If I have seen further, it is by standing on the shoulders of giants", paraphrasing a quote attributed to Isaac Newton and referencing the similarities between ICQ and OICQ. Some would say its part of the governments surveillance system that through contentious social credit scores, Tencent can ll a gap in Chinas nancial system by taking a big-brother lens to citizens purchasing behaviour. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. After the AOL case, Ma decided to expand the business portfolio of Tencent. But Tencent came of age before mobile. 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]. Autocratic leadership style. As of 2015[update], WeChat (, Weixin), is the largest instant messaging platform in the world, used by 48 percent of Internet users in the Asia-Pacific region. Ideas are not important in China execution is [95]. Corrections? On this Wikipedia the language links are at the top of the page across from the article title. It was even risky, he thought, to rely too much on the founding team. As PhD students, we found it difficult to access the research we needed, so we decided to create a new Open Access publisher that levels the playing field for scientists across the world. Shenzhen also ranks at number 3 in China, and 4 in East Asia. From the very beginning, General Electric adopted an innovation development strategy similar to Googles. As organisations grow larger they often become insular and bureaucratic. Tencent had grown to become Chinas top instant messaging service by 2004, prompting Ma to list the firm on the Hong Kong Stock Exchange. Ma has an ABC AI, big data and cloud expansion strategy. Tencent started based on a revolutionary innovation, Internet-based QQ service. However, he definitively qualifies as a visionary leader. In terms of being inspirational and a great team builder. 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. Larry Page met Sergey Brin when Larry entered the doctorate program at Stanford. 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. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. 2022 The Author(s). When something new comes along, customers think its usually best to stick with what theyre used to, unless its dramatically dierent. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. 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. My goal is for Google to lead, not follow that [59]. By making research easy to access, and puts the academic needs of the researchers before the business interests of publishers. 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]. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. 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. Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. 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. 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. 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]. *Address all correspondence to: alberto.aba@gmail.com. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. 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 [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 Chinas giants are famous for plucking the best from the West and localising products for a home crowd. Types of leadership styles. Hum. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. 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. At that time, Edison moved to New York City, where he initially partnered with Frank L. Pope, an electrical expert, and produced the Edison Universal Stock Printer [62]. He was born in 1971 in Chaoyang, Shantou, China. 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. How Tencent CEO Pony Ma became the richest man in China . Therefore, the list of multinationals and leaders included in the study is as follows: Toyota Motor Corporation; Taiichi Ohno. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was cofounder and CEO (1998 ) of Tencent Holdings Ltd., one of the worlds largest Internet companies. While its Western peers face further scrutiny on privacy, Tencent is less restricted. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. Ma completed his remaining schooling from there and found a keen interest in computer technologies. Instagram: biographyscoop. 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. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. Books > Two months later, one team presented WeChat, a text messaging and group chat software that was released in January 2011. Here are further demographic highlights of the leadership team: The Tencent executive team is 50% female and 50% male. 3. [26] The product quickly became popular and garnered more than a million registered users by the end of 1999, making it one of the largest such services in China. The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. 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