Ideas are not important in China execution is [95]. Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. The battleground is vibrant. He didnt have grand ambitions to build a great enterprise. Associate Editor, Encyclopdia Britannica. A recurring leadership style in this paper is the transformational le adership style which, according to Northouse (2004), is "one of the current approaches to leadership that has been the focus of much research since the early 1980s" (p. 169). 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]. Besides, the analyzed variables are not quantitative in nature. 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. His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. Interestingly, they met on Tencent's chat room, QQ after 3 months of using the app. Visionaries may be the only ones that can actually provide some accurate guesses, and, at the same time, put together, motivate, and guide a team in the right direction. If Tencents success in the early 2000s lets call it Tencent 1.0 was due to replication, that of Tencent 2.0 was down to incremental innovation. 2004, 29, 222-240. The rm supports a mind-bending number of apps directed at improving peoples everyday digital lives, including its own version of Uber, Didi Dache. China 2015, 20, 99-104. QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. But theyre allergic to rules. Plenty of seemingly bulletproof businesses Dell, HP, Kodak, Blockbuster have lost their edge by failing to adapt. . 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. Tencents third source of revenue is an ecosystem built around its one billion users. Ma quickly discovered that it was his job to keep bureaucracy at bay. A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. Nationality Chinese. 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. How? 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 . But imitation, when executed well, is a valid form of innovation. Based on the contingency leadership theory,this paper analyzes the leadership style of Ma Huateng and examines the impact of his leadership style evolution on Tencent culture.Ma's leadership style changed from transactional leadership to transformational leadership.These two leadership styles shaped Tencent's markethierarchy orientation culture As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. 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. We are a community of more than 103,000 authors and editors from 3,291 institutions spanning 160 countries, including Nobel Prize winners and some of the worlds most-cited researchers. With that purpose, they devised a new type of search engine tool to track the backing links of each site. He is the founder, chairman. After two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. Over the last four decades, Apple has been involved and played a leading role in a number of disruptive and revolutionary innovations. 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]. He has an estimated net worth of 38.7 billion. Therefore, Googles initial success was not based on disruptive innovation, but rather on revolutionary innovationthe development of relevancy ranking in the search engine sector [49, 50]. If your idea of a good time is a euphoric party, now is the time for Dominica. 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. Lizzy Caplan Bio, Age, Husband, Net Worth, Inside Job, Castle Rock, Movies, Tisha Campbell Bio, Age, Husband, Children, Uncoupled, Net, Movies, Cassi Davis Bio, Age, Family, Boyfriend, Net Worth, Movies, TV Shows. But Tencent came of age before mobile. As for external competition, Tencent has experienced plenty. 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]. 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. [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. Jack Ma. And how do we create it? He started off by improving his communication skills and also learned English. 18% of the management team is White. Unshackled by rules, Tencent employees have freedom to act to invent, to problem solve, to wow. [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. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. [40], According to the official Tencent website, Ma is a deputy to the 5th Shenzhen Municipal People's Congress and served in the 12th National People's Congress. Chairman and CEO, Tencent Holdings. This is related to our culture. It is true that leadership is one of the 4 functions of management but that does not mean that all managers are effective leaders. Profiles. Dev. Ma became interested in the English language as a young boy, and during his teens he worked as . I try to focus on that: What is the future really going to be? Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. Licensee IntechOpen. 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]. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. [8][9] In 2018, he was named one of the "Most Powerful People In The World" by the CEOWORLD magazine. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. Ma Huateng adalah pengusaha yang merintis kariernya dari nol. Tencent made over $56 billion in revenue in 2019, alone. And how do we power our organization to really focus on that and really drive it at a high rate? [59]. 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. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. 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. 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. Ortega also is, as most of the previously analyzed leaders, an introvert. Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. Ma gave Zhang permission to go ahead despite other teams, including QQ, plugging away on similar products. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. 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]. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. Pony Ma, the low-profile founder of tech giant Tencent Holdings, created a social media stir over the weekend by reposting an article on China's economy, an unusual breaking of silence by a . Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. Email: . Elements of disruptive innovation can be found in at least four of the items in Apples list: personal computers, music distribution, tablet computing, and digital publishing. BAT Baidu, Alibaba and Tencent are Chinas power gang. Ma quickly embraced open-source software. In that trip, he visited one of the supermarkets of the Piggly Wiggly chain [84, 85]. The actual scheme was not so much based on sparks of disruptive innovation and genius, but on a systematic approach toward producing inventions [64]. 7. Enjoy reading!! 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. That social media post reflected an uncharacteristic step for the Tencent founder, who has kept a low profile in recent years amid China's regulatory crackdowns. The three most common leadership styles include skill based, trait based, and behavior based approaches. 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]. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have Ma Huateng is a Chinese business entrepreneur and oligarch worth billions of dollars. *Address all correspondence to: alberto.aba@gmail.com. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. Reflects change since 5 pm ET of prior trading day. 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]. Birth Details October 29, 1971 | Chaoyang, China. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was . Leng Hu. 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. He is said to possess property in Hong Kong as well as art items worth . Manag. Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. Take the use of ID cards in China. Explore the Think at London Business School Hub. 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. They grouped the remaining attributes into two enactments and five roles that would help the analysis in case that this one is the chosen leadership framework [17]. Away from Chinas rewalled internet garden, you can live quite happily on a diet of other digital services. 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. Still, Tencent has surged ahead and left national rivals like Baidu behind. China, Tencent Holdings Limited; Ma Huateng. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . Within 2weeks, half of the students had signed up [74]. During the last two decades, there is an increasing number of leadership theories and frameworks. Nine was the maximum number of samples in the list that allowed to keep a reasonable geographical balance across several geographic realms without mixing firms that were not really comparable in terms of size or level of achievements. https://www.britannica.com/biography/Ma-Huateng. In 2016, Apple ranked number 1 in the world in terms of market capitalization. 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. In China, you can have hundreds of competitors within the first hours of going live. 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 We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. [34] With the pager market declining, Ma improved the messaging platform by allowing QQ users to send messages to mobile handsets. We have added your email address to our mailing list and we hope you enjoy our thought leadership. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. VR, AI you name it, Ma is buying stakes in it. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. Under Mas guidance, it is shoring up its strategic options, investing in game-changing technologies set to be the next big thing. UNITED KINGDOM, Leadership - Advancing Great Leadership Practices and Good Leaders, Leadership - Advancing Great Leadership Practices and Good Leaders [Working Title], Ranked in the list of the 20 most influential Americans of all times [, Ranked in the top of the greatest innovators of all times according to the Lemelson-Mit Invention Index [, Lean manufacturing, Just-In-Time (JIT), and derivative approaches created by Ohno are still currently used by a large percentage of manufacturing firms [, Industria de Diseo Textil, S.A. (Inditex).