[38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). [43] He owns a redeveloped palatial residence of 1,820 m 2 (19,600 sq ft) in Hong Kong. In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. There are few companiessimilar to Apple, Microsoft, or Googlethat are really disruptively successful over the span of, for instance, a decade, so it is not possible to collect enough samples as to conduct a statistical study. [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). Nationality Chinese. Inditex ranked 67 in the global top 100 as per market capitalization [29]. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. Ma upgraded the messaging platform by allowing QQ users to send messages to mobile phones as the pager market declined. Away from Chinas rewalled internet garden, you can live quite happily on a diet of other digital services. 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 then worked in research and development for China Motion Telecom Development Ltd. before founding (1998) Tencent with several friends. 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. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. Ma now sits atop the worlds fth most valuable public rm, worth US$556 billion (402 billion). Ma has been compared to American investor Warren Buffett for their similar investment approaches, and often described as an "aggressive acquisitor". During the 2014 Chinese Lunar New Year celebrations, Tencent built on the ancient custom of giving red envelopes lled with money to boost trac on WeChats mobile payments platform. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. By mlavoie on June 1, 2019. They write new content and verify and edit content received from contributors. 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. This model gave Ohno ideas on how to reduce inventory and simplify assembly lines [84, 86, 87]. February 22, 2019. In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. I try to focus on that: What is the future really going to be? Ma sensed this threat: Some say that mobile internet just means adding mobile in front of the internet as an adjective, but I felt it was more than an extension. Ma is China's richest man, with a net . Red Packets are a good example. [Photo by Tang Mingming/For China Daily] NPC deputy believes digital economy could become the engine driving China's next phase of development, affecting many sectors 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. [43] He owns a redeveloped palatial residence of 1,820m2 (19,600sqft) in Hong Kong.[43]. 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. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. 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 Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. Taobao did not charge a fee but made money from online services and advertising. 2.2.2. 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]. Zhang regaled the audience with the tale of how, one night during the launch, he needed an urgent product change. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. Ma Huateng is the originator, CEO, and Chairman of Tencent Holdings Ltd. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. In November 2017, his net worth briefly surpassed that of Larry Page and Sergey Brin (individually) ranking him the ninth richest man in the world, and the first citizen from China to enter Forbes' top 10 richest list,[20][21][22][23] though the net worth of Page and of Brin have each since eclipsed that of Ma. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. [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. Books > 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 During the last two decades, there is an increasing number of leadership theories and frameworks. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. (26.8 billion). He summarised seven deadly sins of product managers, saying that developers undermine their products by convoluting them beyond recognition: Spending core resources and time repeatedly on the optimisation of the obvious characteristics is basically the mania of novice internet entrepreneurs.. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was . It is true that leadership is one of the 4 functions of management but that does not mean that all managers are effective leaders. Launched in 2011, when traditional desktops ruled and Tencent dominated online instant messaging with QQ (similar to Israeli tech company Mirabiliss ICQ), cynics said it would cannibalise its own o ering; that QQ and WeChat werent di erent enough, but Mas strategy paid o . Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. As the rm realised its rapid growth ambitions, Ma feared it would lose its nimbleness and become an overly complex, cumbersome giant. Alibaba and Tencent have repeatedly clashed over the same turf. He is also a business leader. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. 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. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. Regardless of age and background, users want clear, simple, natural, easy-to-use design and products. Small rms that have grown rapidly, such as Tencent, have an advantage: theyre born agile. Ma now sits atop the world's fth most valuable public rm, worth US$556 billion (402 billion). Ma Huateng. Besides, the analyzed variables are not quantitative in nature. Zhang was concerned that Kik or similar products could rival Tencents QQ. He considered the next generation better positioned to dream up the next big product idea. It was even risky, he thought, to rely too much on the founding team. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. An interesting quote in terms of leadership styleas a paradigm of invention versus innovation in practiceis this one: In America, when you bring an idea to market, you usually have several months before competition pops up, allowing you to capture significant market share. [30] He also worked for Shenzhen Runxun Communications Co. Ltd. () in the research and development department for Internet calling services. Ma and his co-founders built a digital platform business from scratch over two decades and they have one of the largest data treasure chests on the planet to show for it. Ma Huateng. *Address all correspondence to: alberto.aba@gmail.com. At an internal leadership conference, its creator, Xiaolong Zhang, put the products success down to simplicity and agility. BAT Baidu, Alibaba and Tencent are Chinas power gang. Otherwise it might lead to hearsay, libel and argument among citizens - not to mention between countries. The article Leadership theory and research in the new millennium: Current theoretical trends and changing perspectives [1] provides a review of the state-of-the-art research in terms of leadership research of the last two decades, including most of the theories and frameworks, except that of visionary leadership, which has anyway been included in the analysis [2]. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. Ma Huateng is currently worth $64.6bn surpassing Zhong Shanshan who is currently at $62.5bn according to the Bloomberg Billionaire's index. Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. In terms of actively supporting internal growth: When you go out into the workplace, you should be looking for things that you can do for your people there. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. Twitter: @BiographyScoop Including the selection of cadres, the character is very important. On being a supporter of organized learning and growth inside the organization: I think as a company, if you can get those two things righthaving a clear direction on what you are trying to do and bringing in great people who can execute on the stuffthen you can do pretty well [75]. I am still clinging to this enthusiasm [95]. In China, you can have hundreds of competitors within the first hours of going live. By 1980, Gates managed to convince a large computer manufacturing multinational, IBM, to depend on Microsoft for every software related to personal computers (PCs). Its hedging its future bets. Please try again later. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Inditexs supply chain operations focus on three aspects: maximizing resources used, minimizing inventory, and minimizing lead times [78]. Only in the case of Larry Page, the achievements and profile of the leader appears to be, arguably, less remarkable than that of his own company. 4. Always work hard on something uncomfortably exciting! [59]. Chaoyang, Shantou, Guangdong. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. Mas tolerance of failure is strategic. Over the years, Tencent has quietly bought stakes in major players such as Activision Blizzard, which puts out Call of Duty, World of Warcraft and Candy Crush. 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. 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. So what can the rest of the world learn from the man behind it all? Inditexs business model, which is based on flexibility and speed, requires a vertically integrated value chain that differs greatly from that of other competitors, like Benetton and Mango. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. The launch of WeChat is a case in point. [Google . Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was cofounder and CEO (1998- ) of Tencent Holdings Ltd., one of the world's largest Internet companies. Rev. 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. 4. He reportedly owns property in Hong Kong and art pieces worth US$150 million. [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]. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. Later, the company provided users with a range of innovative online lifestyle services. These services included online media outlets, e-commerce outlets, gaming options, social media sites, online advertising, and an online payment option [94]. Because of his alternative approach to leadership, which BK is all about, we took a deep dive into what makes Nadella so special and why he's a leader to look . Ma Huateng Overview CB Rank (Person) 260,188 Jobs Number of Current Jobs 1 Ma Huateng is the CEO at WeChat. [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. 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 Ma Huateng - better known as "Pony Ma" - is the elusive founder, chairman and chief executive of China's titan tech rm Tencent. Internal battles, where two teams can Tencent lost the dispute, and the domain names had to be relinquished. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. Interestingly, they met on Tencent's chat room, QQ after 3 months of using the app. Jade Scipioni @JadeScipioni. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. Neat. [10] Ma was a deputy to the Shenzhen Municipal People's Congress and a delegate in the 12th National People's Congress. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. He is married to Wang Dan-ting. Northouse explained, "Transformational For leadership, we have to see things that other people dont see [92]. Enjoy reading!! At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . Agility Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. Unlike other studies [1, 2, 3, 30, 31, 32], the presented multi-case study focuses on a very specific business context: that of the creation of exceptionally successful firms such as Apple, Google, Facebook, or Tencent. Ma completed his remaining schooling from there and found a keen interest in computer technologies. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Get started for FREE Continue. In June 2004, Tencent raised nearly US$200 million in the capital market [94]. Tencent. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. Past attempts at breaking the international market alone havent fared well. You must be a registered user to add a comment here. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. His passions kept changing over the time. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have Net Worth $67.5 billion (As of March 01, 2021) Ma Huateng's Assets: Tencent Holdings. They called the new search engine Googlea name derived from a misspelling of the word googol [48]. 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]. Published Wed, Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST. Finally, Ortega saw an opportunity of appealing to a much broader audience by selling garment at extremely competitive prices. Tencents attention to speed has long had its rivals green. China 2015, 20, 99-104. 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. For instance, he described Toyota in the following way: The Toyota style is not to create results by working hard. Ma Huateng has built Tencent through transformational leadership behaviours, including his vision of continuous innovation, encouragement of experimentation, and modelling that innovative spirit. Its about the people you have, how youre led, and how much you get it [47]. Tencent's popular social messaging app WeChat has more than 1 billion users. Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. Openness If your idea of a good time is a euphoric party, now is the time for Dominica. 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. From the very beginning, General Electric adopted an innovation development strategy similar to Googles. His famous 10/100/1,000 rule reinforces Tencents user-rst philosophy. Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. By 1869, he thought that he had made enough progress with a duplex telegrapha device capable of transmitting two messages simultaneously on one single wireand abandoned telegraphy for full-time entrepreneurship. The other most plausible alternative option, direct interviews or direct surveys, would not have been doable, given the challenge of obtaining response from a large number of highly profiled business leaders. Finally, it would also be interesting to test how other leadership frameworks fit in the same context and how the same leadership framework fits in the different ones. https://www.britannica.com/biography/Ma-Huateng. (Co-founder and Former Executive Chairman of 'Alibaba Group') Jack Ma is a Chinese businessman, investor, and philanthropist. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. 2004, 29, 222-240. On being a pioneer: In a world thats changing really quickly, the only strategy that is guaranteed to fail is not taking risks [75]. The rm also invested US$1.8 billion (1.3 billion) in Tesla. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. 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. This type of leadership is best used when there is a big change in the company or a clear direction is needed. Reshma Saujani, as shown above, is a champion for girls and women. One is Alibaba founder Jack Ma, who is fairly well known in the States, and the other is Ma Huateng, . Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. He reportedly earned $176 per month. Put the behemoth side-by-side with the likes of Facebook and Google and critics would argue that its an unfair comparison. Amancio Ortega has guarded his privacy so jealously that his company only released a photograph of him when the firm was first listed [82]. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. These strategic partnerships are all options for future growth. Birth Details October 29, 1971 | Chaoyang, China. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. Some Jobs words, recorded in the mentioned documentary Triumph of the Nerds [45], can give a sense of his ability for creating positive and inspirational visions [18]: To me, the spark of that (birth of personal computer industry in Silicon Valley in the early seventies) was that it was something beyond the sort of you see every day. We believe, and then we see. Skill based approach emphasizes the leader's technical, human, and conceptual. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. 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