Reflects change since 5 pm ET of prior trading day. 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. Neat. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. So, its big. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. He required complete openness and insisted that all Amazon teams plan and design service interfaces so they can be exposed to developers in the outside world. On this Wikipedia the language links are at the top of the page across from the article title. After the AOL case, Ma decided to expand the business portfolio of Tencent. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. Six years later, in 2005, Alibaba attracted the attention of Yahoo!, which bought a 40 percent stake. Pony is Mas nickname, which comes from the English version of his surname Ma, which means horse. Ma is known for his reclusive lifestyle and rarely appears in the public. He reportedly earned $176 per month. 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. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. 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. 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]. A charismatic leader is a person, who has the ability to influence people and who, consequently, has some controlling power over them [9]. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. 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. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. China is home to the world's second-largest number of billionaires after the United States. Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. Visionary leaders have clear, long-term visions, and are able to inspire and motivate others. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Jade Scipioni @JadeScipioni. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. At that time, Edison moved to New York City, where he initially partnered with Frank L. Pope, an electrical expert, and produced the Edison Universal Stock Printer [62]. [42] Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. 2022 The Author(s). This is a few principles for us to select talent [95]. As of January 2021, Ma is worth $46.8 billion which places him . 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]. Ayahnya bekerja sebagai manajer di pelabuhan Shenzen. As a world, were doing a better job of that. 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). 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. 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. If you havent registered yet, please register and log in. 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]. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. In that trip, he visited one of the supermarkets of the Piggly Wiggly chain [84, 85]. Education Graduate, Computer Science, Shenzhen University. 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.. Agility By giving the project the green light, Ma, in eect, gave Zhang full licence to cannibalise the existing QQ product. He is the founder, chairman, and CEO of Tencent, which is China's most valuable company. In 2016, Apple ranked number 1 in the world in terms of market capitalization. Then again, innovation takes many forms. All Rights Reserved. In Hong Kong, he has a rebuilt palatial mansion of 1,820 m2 (19,600 sq ft). At a tech conference in Singapore, I discussed censorship. 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]. We lack people with dreams, who can die for those dreams; For most people, they see and believe. Reclusive, secretive, and reserved are words frequently used to describe him. Openness also means sharing. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. The success of Inditexand H&M, its main competitoris ultimately based on a revolutionary innovation called fast fashion [77]. 2.2.2. Speaking at the Tsinghua Management Global Forum in 2016, Ma pointed to Tencents early days as a classroom for 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. ", 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. [26] When his father, Ma Chenshu (), got a job as a port manager in Shenzhen, the young Ma accompanied him. You need resilience to keep you on the ball. 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. Please try again later. Part of WeChats early success was its likeness to WhatsApp and Kik, designed for the smartphone. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . Plenty of seemingly bulletproof businesses Dell, HP, Kodak, Blockbuster have lost their edge by failing to adapt. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). Resilience is all part of Mas mission to face down internal and external attackers. However, the company failed to attain technological zeal and . Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Some quotes from Ma that also proves his talent as an inspirator and team builder are as follows: A good boss is better than a good company; If we are a good team and know what we want to do, one of us can defeat ten of them; We never lack money. How has he created the capacity to pivot in anticipation of and response to changes? [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. Tencent, which owns a stake in. We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. Get started for FREE Continue. On February 4, 2004, Mark Zuckerberg, a Harvard student, launched the facebook.com, a directory in which fellow students entered their information and photos into a template. Tencent also offers web portals, e-commerce, and multiplayer online gaming, among other things. During the next decade, Edison grew fast as successful mogul [62]. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. Ma Huateng. Speed [27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. In 2003, Tencent released its own portal (QQ.com) and made forays into the online games market. Evolution at Tencent means the capability to improve, self-correct and stay focused. 2. 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. 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It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. During the second quarter of 2020, the company posted net sales (revenue) of RMB 114.83 billion. Contact our London head office or media team here. But Mas early focus was on what he knew. Tencent's market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. He is said to own property in Hong Kong as well as art worth $150 million. Tencent lost the case and had to relinquish the domain names. 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. Mandi is an experienced writer on various topics with a passion for telling stories with words. 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. Ma Huateng is a Chinese business entrepreneur and oligarch worth billions of dollars. 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]. 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. 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. [39] However Forbes has not decreased his net worth as the shares are still listed under his name. 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. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. From mobile payments to taxi hailing, users can live their lives on one app. As a youth in A Corua, Galicia, in northwestern Spain, Amacio Ortega gained an entry into the garment business by working as a delivery boy for a mens shirt store and assistant in a tailors shop. We should not give up the dream of scoring stunning goals in the science and technology . Tencent developed an online gaming platform in 2004 and began selling virtual goods (weapons, gaming power) as well as emoticons and ringtones to support the games produced on that platform. 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]. 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 Ma is China's richest man, with a net . 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. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. 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]. Once, he said: At Tencent, we may be businessmen, but we are still chasing our IT, our science. Tencent is the collective answer to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon. Chinas central bank, however, clamped down on the pilot in February 2018. 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 didnt have grand ambitions to build a great enterprise. Innovation 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]. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. Jack Ma, originally Ma Yun, (born September 10, 1964, Hangzhou, Zhejiang province, China), Chinese entrepreneur who was head of the Alibaba Group, which comprised several of China's most popular Web sites, including the business-to-business marketplace Alibaba.com and the shopping site Taobao.com. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. Nationality Chinese. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. Afterwards, 80 percent of the company's revenue came from deals struck with telecom operators who agreed to share message fees. Ma's leadership style changed from transactional leadership to transformational leadership. It takes rapid iteration and even then, according to Ma, perfection is never reached. Japan, Alibaba Group Holding Limited; Jack Ma. In 1976, back in Silicon Valley, Steve Jobs and his former friend, Stephen Wozniak, worked on a computer design of their own, the Apple I [39]. 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]. The Tencent Group (HKG: $0700 ) has developed a good understanding of the consumer behaviour in the Chinese digital market after years of dominating the market - and also refined a rather unique business model. Shenzhen is an ideal place to locate for Hardware & IoT, Ecommerce & Retail and Marketing & Sales startups. [36], Mimicking Microsoft, Ma created two competing teams of engineers in 2010 and charged them with creating a new product. 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. 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 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. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. Huateng is worth $55.66 Billion as of October 21 st, 2020. 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