Yang Huiyans riches evaporate as her Country Gardens stock plunges 84% amid real estate squeeze. Then, in 1975, Ortega started the first Zaras ready-to-wear clothing store. Ma led his company's leadership committee on a two-day hike through the Gobi Desert for their off-site retreat last year, according to Bloomberg. No product starts perfect. Part of Mas deck-spreading strategy is to take Tencent worldwide, in line with the Chinese governments One Belt, One Road national grand plan. 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. 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]. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. Miliao could only release one version per month, he noted. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. [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. Let us know if you have suggestions to improve this article (requires login). The companys influence on the Chinese market was immense. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. Ma asks people to try bravely, without hesitation, which is how WeChat came about. Leadership - Advancing Great Leadership Practices and Good Leaders [Working Title], Open access peer-reviewed chapter - ONLINE FIRST, Submitted: July 8th, 2022 Reviewed: September 13th, 2022 Published: October 28th, 2022, Total Chapter Downloads on intechopen.com. Mas visionary leadership is as uniquely prolific as that of Edison and Jobs. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. Tencent started based on a revolutionary innovation, Internet-based QQ service. Contact our London head office or media team here. Younger employees understand what people want. Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. Then, other manufacturers of IBM-compatible PCs also turned to Microsoft in search of its products. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. China is home to the world's second-largest number of billionaires after the United States. From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. 6. 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. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. What about Tencent 3.0? Chairman and CEO, Tencent Holdings. 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. The key leadership style of Ma Huateng is transformational, as he has been able to inspire his employees to achieve great things Autocratic leaders make all the decisions without consulting their followers. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. Leadership style and approach Ma Huateng pursues the leadership styles which aids in running his company in a successful way. Ma's leadership style changed from transactional leadership to transformational leadership. Omissions? When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. Ma Huateng has built Tencent through transformational leadership behaviours, including his vision of continuous innovation, encouragement of experimentation, and modelling that innovative spirit. 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. Tencent wants to enable greater connectivity across Chinese industry, leveraging the capabilities and expertise it has built to serve the billion-plus users of its consumer-facing platforms,. Dev. As the biggest gaming company in the world, Tencent certainly has global reach, even if people dont yet know it. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. In China, you can have hundreds of competitors within the first hours of going live. (with Q and QQ used to stand for the word cute). Updates? In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. 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. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. But Tencent came of age before mobile. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. Since that time, the principle of lean manufacturing has been adopted by many firms and industries [84, 86, 87]. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. Steve Jobs leadership style & personality. 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. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. A service starts with the satisfaction and needs of its users in mind and is de ned by those two things, he wrote on WeChats internal platform in April 2017. Get started for FREE Continue. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. We believe, and then we see. This is related to our culture. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Sceptics of the BATs and FANGs of this world could argue that the internet made survival easy even too easy. Still, Tencent has surged ahead and left national rivals like Baidu behind. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. Thomas Edison ranks in the top of almost every list of all-time greatest innovators, pioneers, and entrepreneurs. BAT Baidu, Alibaba and Tencent are Chinas power gang. From mobile payments to taxi hailing, users can live their lives on one app. One former long-term CEO of Inditex, and Mr. Ortegas business partner for 31years, Jos Mara Castellano, says that his ex-bosss working method is to discuss things intensely with small groups, delegate paperwork, listen hard to others and prefer oral over written communication [79]. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. Bachelor of Arts/Science, Shenzhen University. 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]. The conclusion of this article is beneficial to the firm and its leaders in terms of using leadership style to shape the culture, which corresponds to the stage of development and to promote the companys long-term development. By setting the right cultural tone. We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. Ma Huateng expressed that our basic research in science and technology is still weak, and we don't have many unique innovations. Not in China. Types of leadership styles. Yet few, in the West at least, have heard of it. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. 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. [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. For instance, he described Toyota in the following way: The Toyota style is not to create results by working hard. Jobs and Wozniak later designed a far better product, the Apple II [39]. Tencent had grown to become Chinas top instant messaging service by 2004, prompting Ma to list the firm on the Hong Kong Stock Exchange. Leng Hu. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. He is the founder, chairman. Tencents attention to speed has long had its rivals green. 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. Associate Editor, Encyclopdia Britannica. [8] Online games such as Legend of Yulong and Legend of Xuanyuan boosted revenue by more than half, up to US$5.1 billion, with a US$1.5 billion profit margin. Under Mas guidance, it is shoring up its strategic options, investing in game-changing technologies set to be the next big thing. China 2015, 20, 99-104. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. Ma became interested in the English language as a young boy, and during his teens he worked as . Ma has an ABC AI, big data and cloud expansion strategy. Ma has been compared to American investor Warren Buffett for their similar investment approaches, and often described as an "aggressive acquisitor". Resour. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. ", https://en.wikipedia.org/w/index.php?title=Ma_Huateng&oldid=1135733922, Delegates to the 12th National People's Congress, Delegates to the 13th National People's Congress, Short description is different from Wikidata, Articles containing Chinese-language text, Articles containing simplified Chinese-language text, Articles containing potentially dated statements from 2015, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 26 January 2023, at 14:49. 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 Agility Ma Huateng Leadership Style Ma's management style shifted from transactional to transformational leadership. Thats why we allow those who understand the needs of younger users to do the job, said Ma. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. The battleground is vibrant. In 2006 Ma announced a ve-year business plan: to reach annual revenues of 10 billion renminbi (1.14 billion). These labels define a concept different than Christensens. He is the founder, chairman and chief executive officer of Tencent, one of the most valuable companies in Asia, one of the largest internet and technology companies, and one of the biggest investment, gaming and entertainment conglomerates in the world. This type of leadership is best used when there is a big change in the company or a clear direction is needed. 4. Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. View our Privacy Policy to learn more. 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]. In 1956, Ohno visited the USA to learn their supply and inventory methods. He red o an email and the next day a new software release was online. 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. They usually miss the future. Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. Unlike Western app constellations, Tencent combines as many features into one app as possible. Reflects change since 5 pm ET of prior trading day. [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. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. Published Wed, Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST. 2023 Forbes Media LLC. Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. By 2015, QQ had 850 million monthly users [94]. For leadership, we have to see things that other people dont see [92]. [31] In December 2000, Ma changed the name of the software to QQ (with "Q" and "QQ" used to stand for the word "cute").[35]. By 1980, Gates managed to convince a large computer manufacturing multinational, IBM, to depend on Microsoft for every software related to personal computers (PCs). The other quality of a visionary leader, supporting internal growth, was clearly evinced by the way that he spoke about Toyota and its organizational style over the length of his career. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. [37], In December 2015, Ma announced that Tencent would build an "internet hospital" set up in Wuzhen that will provide long-distance diagnoses and medicine delivery. [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.