[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. This is a few principles for us to select talent [95]. 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. 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. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. Instagram: biographyscoop. This method required concentration of researchers and projects in one spot. The first chosen location was Menlo Park, in New Jersey. 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. He can regularly be found sharing table on the factory floor with some of the designers, fabric experts and buyers [80]. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. Shenzhen also ranks at number 3 in China, and 4 in East Asia. 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. As the most popular industries in Shenzhen . By 2016, it employed 40,000 people, up from 1,000 in 2004. Leadership. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. 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. In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Ma Huateng's fortune is derived from his 9.7 percent ownership of Tencent Holdings. Mas visionary leadership is as uniquely prolific as that of Edison and Jobs. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. As of January 2021, Ma is worth $46.8 billion which places him . 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]. But theyre allergic to rules. [30] He also worked for Shenzhen Runxun Communications Co. Ltd. () in the research and development department for Internet calling services. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. 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. Employees become disengaged. By 1990, Gates was the PC industrys king [67]. 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. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. 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]. Wang Dan-ting is the wife of one of China's richest men, Ma Huateng, the founder of Tencent and QQ. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. Tencent, which owns a stake in. My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. The three most common leadership styles include skill based, trait based, and behavior based approaches. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. What about Tencent 3.0? [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. 2. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. Visionary leadership style. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Types of leadership styles. This leadership style shaped Tencent's market/hierarchy orientation culture and teamwork/innovation orientation culture respectively. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. Associate Editor, Encyclopdia Britannica. Licensee IntechOpen. . Hum. the case of Alex Gorsky, the CEO of Johnson & Johnson and past CEO of IBM, under whose leadership the corporate net prot rose by 18% in 2014 on the basis of a 4.2% increase in sales [ 60 Contact our London head office or media team here. Reflects change since 5 pm ET of prior trading day. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. He dropped out of Reed College, in Portland, took a job at Atari Corporation as a videogame designer in early 1974, and saved enough money for a pilgrimage to India [39]. We have added your email address to our mailing list and we hope you enjoy our thought leadership. Leng Hu. However, he definitively qualifies as a visionary leader. Nine is also a number in the range of similar studies conducted in the past. Ma believes that innovation follows the other six principles agility, openness, user rst, speed, resilience and evolution. 19. Published Wed, Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. So Ma created Seven principles agility, openness, user rst, speed, resilience, evolution and innovation to guide product creation. 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]. 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. They dont have to unlearn bad habits. [31] In order to solve the problem, Ma asked for bank loans and even talked about selling the company. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. In 2007, Alibaba.com raised US$1.7 billion dollars in its initial public offering (IPO) in Hong Kong [91]. According to Ma, "giving up is the greatest failure. Toward the end of the second world war, Taiichi Ohno worked as a production engineer for Toyota, a Japanese car manufacture founded in Japan by Kiichiro Toyoda in 1937 [83]. 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 . Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. He didnt have grand ambitions to build a great enterprise. But Mas early focus was on what he knew. Its business roughly splits into three. On this Wikipedia the language links are at the top of the page across from the article title. The power of cross-cultural collaboration, Leading digital transformation: what you must know, Discover fresh perspectives and research insights from LBS. [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. Long ago, Max Weber described charismatic authority in his book Economy and Society [8], where he identified it as one of three types of legitimate domination. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. Tencent had grown to become Chinas top instant messaging service by 2004, prompting Ma to list the firm on the Hong Kong Stock Exchange. Visionary leaders are those who inspire extraordinary levels of achievement in followers through an inspiring vision and through other behaviors [2]. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. For instance, the number was three in the case of the study Internationalization of small- and medium-sized enterprises: a multi case study [30], four, in the case of the study Competitive product-service systems: lessons from a multi-case study [31], and 10 in the case of the study Knowledge management critical failure factors: a multi-case study [32]. He reportedly earned $176 per month. Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. For instance, the rst major chat app in China wasnt WeChat; it was Miliao, which was produced by Xiaomi. That's why the need for online management is increasingly urgent. Plenty of seemingly bulletproof businesses Dell, HP, Kodak, Blockbuster have lost their edge by failing to adapt. [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. Larry Page met Sergey Brin when Larry entered the doctorate program at Stanford. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. 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]. 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. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. Then, in 1975, Ortega started the first Zaras ready-to-wear clothing store. No exceptions, said Bezos. Several quotes from Larry Page that highlight his visionary skills are as follows: On being an inspirator: What is the one-sentence summary of how you change the world? By mlavoie on June 1, 2019. [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. 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 Red Packets are a good example. Huateng is clearly a pioneer and innovator. 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]. Besides, the analyzed variables are not quantitative in nature. On being an innovator: Invention is not enough. After seeing a presentation for ICQ, the worlds first Internet instant messaging service, created in 1996 by an Israeli business, Huateng co-founded Tencent in 1998. Alibabas growth was fast. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. Ma is China's richest man, with a net . So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . Liqing Zeng looked like a boss and thats why we asked him to take care of sales and marketing. Books > Not in China. Always work hard on something uncomfortably exciting! [59]. To date our community has made over 100 million downloads. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . 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 is related to our culture. 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. Nationality Chinese. Corrections? Ortega also is, as most of the previously analyzed leaders, an introvert. Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. Unlike Western app constellations, Tencent combines as many features into one app as possible. Based on our data team's research, Ma Huateng is the Tencent's CEO. He was born in 1971 in Chaoyang, Shantou, China. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. 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. 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. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. 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. QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. The evidences all seem to point to a conclusion that Jack Ma is an effective leader who has a seemingly well-developed emotional intelligence and flexible leadership style. Still, there are little doubts that Page congregates the four attributes that define a visionary leader, as several authors already validated in their studies [18, 57, 58]. Jack Ma. He is the co-founder and chief executive officer of Tencent Holdings, a Chinese technology conglomerate and holding company that is best known for its instant messaging app WeChat and also for mobile gaming. Besides, Tencent has earned its premier status and, as long as Ma keeps pushing his principles, perhaps the rest of the world can adopt them as their own. Walter Isaacson, Steve Jobs official biographer, described the founder of Apple as a creative entrepreneur whose creativity, passion for perfection and ferocious drive revolutionized six industries: personal computers, animated movies, music, phones, tablet computing, and digital publishing [44]. Ultimately, though, the combination of Onhos leadership and revolutionary innovation transformed Toyota from being an average car maker in Japan to becoming the number one global leader. What do they fundamentally do wrong? Explore the Think at London Business School Hub. Let China's internet giants tell you", "Ma vs. Ma: The most expensive house in Hong Kong belongs to one of China's internet kings - but is it Jack or Pony? Therefore, the list of multinationals and leaders included in the study is as follows: Toyota Motor Corporation; Taiichi Ohno. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. These strategic partnerships are all options for future growth. Closer to home, in 2010 Alibaba blocked Baidus internet crawlers from its website. Inditex ranked 67 in the global top 100 as per market capitalization [29]. 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. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. It was a revolution. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. Tencents immense success made Ma, who was widely referred to as Pony Ma (the nickname was a play on his surname, which means horse in Chinese), one of the wealthiest individuals in China. 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. ", 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. In regard of the reasons why this type of profile is required in the studied context, one may be the fact that, in the case of disruptive innovation, nobody, even clients, may be able to forecast or imagine items such as the final functions and aspect of the products, the expected demand, and other features. ] Vera, D. ; Crossan, M. Strategic leadership and organizational learning like a boss thats... 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