China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. 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. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. The power of cross-cultural collaboration, Leading digital transformation: what you must know, Discover fresh perspectives and research insights from LBS. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. Autocratic leadership style. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have And how do we create it? Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. A self-confessed geek who trained in computer science, he knew about the tech people wanted to use. Some quotes from Ma that also proves his talent as an inspirator and team builder are as follows: A good boss is better than a good company; If we are a good team and know what we want to do, one of us can defeat ten of them; We never lack money. The other American companies ranked in-between in the original list were not disruptively successful ones e.g. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). But imitation, when executed well, is a valid form of innovation. Bachelor of Arts/Science, Shenzhen University. [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. China is home to the world's second-largest number of billionaires after the United States. In 2016, Apple ranked number 1 in the world in terms of market capitalization. The companys influence on the Chinese market was immense. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Chairman and CEO, Tencent Holdings. This chapter is distributed under the terms of the Creative Commons Attribution 3.0 License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. He reportedly owns property in Hong Kong and art pieces worth US$150 million. A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. Amazons Je Bezos created a similar mandate in 2002. He has an estimated net worth of 38.7 billion. 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. It takes rapid iteration and even then, according to Ma, perfection is never reached. We believe, and then we see. 5 On Chinas 100 Richest 2022 Despite A Drop In Wealth, Taiwan Billionaire Rudy Ma, Founder Of Yuanta Financial Holdings, Dies At 82, Three Of Chinas Richest Lose More Than $16 Billion In One Day As Stock Rout Hits Hong Kong-Listed Companies, Tencents Pony Ma Falls To No. Yang Huiyans riches evaporate as her Country Gardens stock plunges 84% amid real estate squeeze. Evolution Ma is China's richest man, with a net . The list includes personal computers, music distribution, tablet computing, mobile phones and digital publishing. Red Packets are a good example. In. Resilience is all part of Mas mission to face down internal and external attackers. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . The four models that were considered potentially suitable for a context of disruptive successtransformational, charismatic, entrepreneurial, and visionaryunderwent a further scrutiny in order to determine which one would better suit the context of disruptive success, as it is briefly described in the next paragraph. Education Graduate, Computer Science, Shenzhen University. 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]. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. The internet sector in China is politically policed, but it is also lightly regulated. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. In those days, Toyota was much less productive than its Detroit-based competitors, the Big ThreeGeneral Motors, Ford, and Chrysler [83]. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. Some of the most relevant ones were the phonograph, the incandescent electric light and power, the motion picture camera, and the alkaline storage battery [53]. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. Tencent had grown to become Chinas top instant messaging service by 2004, prompting Ma to list the firm on the Hong Kong Stock Exchange. He didnt want to lead, he said. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. 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. Reshma Saujani, as shown above, is a champion for girls and women. [31] Inspired by the idea, Ma and his team launched in February 1999 a similar software, with a Chinese interface and a slightly different name OICQ (or, Open ICQ). Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. Regarding the second attribute of visionary leadership [18], which is supporting organized learning and growth within the organization, Jobs spoke eloquently about its importance, from his own point of view: The people who are doing the work are the moving force behind the Macintosh. They write new content and verify and edit content received from contributors. Let us know if you have suggestions to improve this article (requires login). The interesting question is whether it needs to go global. Steve Jobs leadership style & personality. Omissions? [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. Its headquarters is located in Shenzhen, China. WeChat hit most global markets in 2012. 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. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. Teams also have freedom to compete. 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. Ma Huateng adalah pengusaha yang merintis kariernya dari nol. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. Established Western platforms such as Facebook are embedded in peoples crystal-screen portable friends. China 2015, 20, 99-104. Home > It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. Tencent lost the case and had to relinquish the domain names. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. [5], Speaking of censorship at a tech conference in Singapore, Ma was quoted as saying "In terms of information security management, online companies from any country must abide by a defined set of criteria, and act responsibly. This is related to our culture. Please refer to the appropriate style manual or other sources if you have any questions. Miliao could only release one version per month, he noted. 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. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. 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. Inditex produces a significant amount of its production in-house and makes sure that its own factories reserve 85% of their capacity for in-season adjustments [77]. By setting the right cultural tone. Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. For leadership, we have to see things that other people dont see [92]. 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 . 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. 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 . He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. Huateng is the chairman, founder, and CEO of Asia's most valuable company and also one of the largest internets and technology companies across the globe Tencent. This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. Away from Chinas rewalled internet garden, you can live quite happily on a diet of other digital services. For a while, Ma went back to his former job as a public servant, but then, in 1999, Ma persuaded his team at the ministry to go to Hangzhou and found the Alibaba Group [91]. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. 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]. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. Evolution at Tencent means the capability to improve, self-correct and stay focused. Unlike Western app constellations, Tencent combines as many features into one app as possible. He didnt have grand ambitions to build a great enterprise. The article Entrepreneurial leadership: developing and measuring a cross-cultural construct [17] compares all the theories about leadership and entrepreneurship. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. Charismatic leaders emerge in times of instability, change, or crises, but many critics argue that charismatic leaders tend to forget the groups benefit and try to gain most of the attention for themselves. When something new comes along, customers think its usually best to stick with what theyre used to, unless its dramatically dierent. This can be effective in some cases, but it can also lead to resentment from followers who feel like they are not being given a voice. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . Nationality Chinese. What about Tencent 3.0? London Business School takes your privacy seriously. As the founder of the entertainment giant Tencent, Ma Huateng (or Pony Ma, as he's better known) ranks as one of the richest people on the planet. He gives importance to the ideas and strategies given by his employees. Website: Biographyscoop.com While every effort has been made to follow citation style rules, there may be some discrepancies. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. This reality implies that collective or organizational outputs may not always be prioritized or maximized, since that is not the main objective for this type of leaders [9]. 2022 The Author(s). It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. Its now vogue to call customers users. The new system made Toyota the car industry leader. Contact our London head office or media team here. Reclusive, secretive, and reserved are words frequently used to describe him. Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. The second is to look at professional ability and coordination, intelligence and so on. 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. 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. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. The battleground is vibrant. 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 He was born in the Chaoyang District of Shantou, China, on October 29, 1971. On this Wikipedia the language links are at the top of the page across from the article title. 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]. By 2016, it employed 40,000 people, up from 1,000 in 2004. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. Enjoy reading!! The couple has a daughter named Ma Manlin. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. Take the use of ID cards in China. Spain. (26.8 billion). Nine is also a number in the range of similar studies conducted in the past. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. 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. 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. 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]. (with Q and QQ used to stand for the word cute). 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. Mas tolerance of failure is strategic. In order to choose the specific companies or cases, disruptively successful firms, the following three criteria were applied: (1) the pool of chosen companies should be located in, at least, three different geographical realms i.e. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Zhang emailed Ma asking for permission to create a competitor to Kik Messenger, founded in 2009 by a group of students from the University of Waterloo in Canada. 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. And I think that same spirit can be put into products. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. And how do we power our organization to really focus on that and really drive it at a high rate? [59]. In the case of the selected framework, the results are the ones that tell if this choice was right. 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. Yet, Chinese business leaders including Jack Ma (Alibaba), Lei Jun (Xiaomi), Ma Huateng (Tencent) and Wang Jianlin (Wanda) have successfully reversed the prevailing cultural prejudice. User first Resour. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. 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. 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. [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. 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
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