Birth Details October 29, 1971 | Chaoyang, China. 4. 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 . Thats why we allow those who understand the needs of younger users to do the job, said Ma. 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. [31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. Next, the chapter describes a conducted multi-case study that tested the actual possible correlation between the chosen leadership framework and the profile of the leaders of their disruptively successful corporations. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. 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. Associate Editor, Encyclopdia Britannica. Mas management style shifted from transactional to transformational leadership. 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]. 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 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. In that trip, he visited one of the supermarkets of the Piggly Wiggly chain [84, 85]. Huateng is clearly a pioneer and innovator. In China, you can have hundreds of competitors within the first hours of going live. He started off by improving his communication skills and also learned English. 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 reportedly owns property in Hong Kong and art pieces worth US$150 million. 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. But Tencent came of age before mobile. 2022 The Author(s). 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. By setting the right cultural tone. 1. 10 principles for great leadership, according to Disney's Bob Iger. In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. 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. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). 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. Ma's leadership style changed from transactional leadership to transformational leadership. https://www.britannica.com/biography/Ma-Huateng. We lack people with dreams, who can die for those dreams; For most people, they see and believe. . Tencent is the collective answer to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon. 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. And these products can be manufactured and given to people and they can sense that spirit [45]. After purchasing ICQ in 1998, AOL initiated an arbitration against Tencent with the National Arbitration Forum in the United States, alleging that OICQs domain names OICQ.com and OICQ.net were infringing on ICQs trademark. Taking into consideration the profile that could be expected in the context of startups and an innovation-led context [1, 2, 3], best framework candidates for further evaluation would be (1) transformational leadership, (2) charismatic leadership, (3) entrepreneurial leadership, and (4) visionary leadership. 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. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. On the other hand, the Eastern Asian disruptively successful companies that ranked high enough in the global top 100 were Toyota Motors, Alibaba and Tencent15, 22, and 32 [29]. [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. During the last two decades, there is an increasing number of leadership theories and frameworks. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. Miliao could only release one version per month, he noted. As a world, were doing a better job of that. Unlike Western app constellations, Tencent combines as many features into one app as possible. 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. 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. Leadership style refers to the way the leaders represent their ways of running an organization. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. [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). But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. IntechOpen Limited Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. Ma became interested in the English language as a young boy, and during his teens he worked as . [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Employees become disengaged. It was even risky, he thought, to rely too much on the founding team. He gives importance to the ideas and strategies given by his employees. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. By 1990, Gates was the PC industrys king [67]. 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. Ma now sits atop the world's fth most valuable public rm, worth US$556 billion (402 billion). He then worked in research and development for China Motion Telecom Development Ltd. before founding (1998) Tencent with several friends. Ma Huateng is a business tycoon, an entrepreneur, an engineer, a philanthropist, and an investor. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Hum. The concept of transformational leadership was introduced by James MacGregor Burns in his book Leadership [4] and then further developed in Transforming Leadership: A New Pursuit of Happiness [5]. [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. Including the selection of cadres, the character is very important. Chaoyang, Shantou, Guangdong. Eventually, it is interesting to notice that many other leaders analyzed in this study also are, apparently, introvert, e.g. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. Let us know if you have suggestions to improve this article (requires login). By giving the project the green light, Ma, in eect, gave Zhang full licence to cannibalise the existing QQ product. Its not about money. In 2000, Ma turned to US investment firm IDC and Hong Kong's telecom carrier Pacific Century CyberWorks (PCCW) who bought 40 percent of Tencent's shares for US$2.2 million. Always work hard on something uncomfortably exciting! [59]. Both hubs developed a long list of innovations [53]. Published Wed, Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST. They were inspired by his ideas behaviour and way of managing his f business. After two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. 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. 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]. 5. 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. 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. By Urban Woman. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. For us, it is important to choose a character, super emphasis on this one. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. 6. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have April 6, 2021. 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]. He is also a business leader. This type of leadership is best used when there is a big change in the company or a clear direction is needed. Steve Jobs leadership style & personality. Reshma began her career as an attorney and activist, and founded Girls Who Code (GWC) after witnessing first-hand the gender gap in the field of Computer Science while running for US Congress (fun fact: Reshma was the first South Asian woman to run . Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. China is home to the world's second-largest number of billionaires after the United States. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. They called the new search engine Googlea name derived from a misspelling of the word googol [48]. You need resilience to keep you on the ball. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). After giving a quick review of state-of-the-art of the leadership research and theories [1], this chapter shortlists, briefly explains, and finally analyzes the candidate frameworks and chooses the apparently most suitable one. In terms of being inspirational and a great team builder. However, less work has been done in terms of determining which frameworks would suit better some particular organizational outputs. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. At a tech conference in Singapore, I discussed censorship. Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. Jack Ma, the former English teacher who founded Alibaba, is the antithesis of his namesake: fting world leaders, setting bold targets and his penchant for shooting from the hip leave his minders. [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. 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. Ma has been compared to American investor Warren Buffett for their similar investment approaches, and often described as an "aggressive acquisitor". Inditex ranked 67 in the global top 100 as per market capitalization [29]. However, the company failed to attain technological zeal and . Superlatives attach themselves to Pony Ma and Tencent, the Chinese technology juggernaut the 46-year-old entrepreneur cofounded and leads as CEO. He didnt have grand ambitions to build a great enterprise. His passions kept changing over the time. What do they fundamentally do wrong? Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. Ortega eats lunch with his employees in the company cafeteria. 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. Twitter: @BiographyScoop Ma Huateng's fortune is derived from his 9.7 percent ownership of Tencent Holdings. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. Home > Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. Shares of Ma Huateng's internet gaming giant rose 14% so far this year to the highest in two years, thanks to strong demand for its mobile games during coronavirus lockdowns. Email: Wang Dan-ting is the wife of one of China's richest men, Ma Huateng, the founder of Tencent and QQ. What is the profession of Ma Huateng? 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]. Its creator, Xiaolong ma huateng leadership style, put the products success down to simplicity and agility lunch his... He graduated from Shenzhen University with a Bachelor of Science in computers and to... Received additional money from a misspelling of the rm falling into bad habits heavy... 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