First, the ubiquitous messaging app WeChat. Email: 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. Opps.. Something goes wrong. 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. He started off by improving his communication skills and also learned English. Looking at the history of Alibaba, Jack Ma is good at adapting new strategies to gain . Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was . [8][9] In 2018, he was named one of the "Most Powerful People In The World" by the CEOWORLD magazine. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. 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. The article concludes that leadership style impacts corporate culture and that the evolution of leadership style has an impact on corporate culture change. QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. Yizhou Chen originated from government, therefore he took care of HR, legal, administration and government relations, Ma explained. This chapter is distributed under the terms of the Creative Commons Attribution 3.0 License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. The internet sector in China is politically policed, but it is also lightly regulated. We believe, and then we see. Tencent made over $56 billion in revenue in 2019, alone. However, less work has been done in terms of determining which frameworks would suit better some particular organizational outputs. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. Then, other manufacturers of IBM-compatible PCs also turned to Microsoft in search of its products. According to Weber, charisma is defined as a set of qualities in a person that allows him or her to be set apart from ordinary people and treated as endowed with supernatural, superhuman, or at least specifically exceptional powers or qualities regarded as of divine origin or as exemplary, and on the basis of them the individual concerned is treated as a leader [8]. Acad. He is the founder, chairman, and CEO of Tencent, one of Asias most valuable corporations, one of the worlds largest Internet and technology companies, as well as one of the worlds largest investment, gaming, and entertainment conglomerates. On being a pioneer: In a world thats changing really quickly, the only strategy that is guaranteed to fail is not taking risks [75]. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. How Tencent CEO Pony Ma became the richest man in China . Ortega also is, as most of the previously analyzed leaders, an introvert. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. Please try again later. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. In terms of being inspirational and a great team builder. Its about the people you have, how youre led, and how much you get it [47]. A year later the company launched the Internet-based QQ service (then called OICQ), which soon became one of Chinas most-popular instant-messaging platforms. 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. It is a system that says there is no limit to peoples creativity. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. However, the company failed to attain technological zeal and . Now is the time for our government, enterprises, academic and research institutions to work together to change the status quo. 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. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. Unlike Western app constellations, Tencent combines as many features into one app as possible. 5. Tencent lost the dispute, and the domain names had to be relinquished. Ma Huateng is a business tycoon, an entrepreneur, an engineer, a philanthropist, and an investor. 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]. A charismatic leader is a person, who has the ability to influence people and who, consequently, has some controlling power over them [9]. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. Steve Jobs ranked top in the list of the 20 most influential Americans of all times [34]. If your idea of a good time is a euphoric party, now is the time for Dominica. The interesting question is whether it needs to go global. No product starts perfect. The couple has a daughter named Ma Manlin. Among other achievements, Mark Zuckerberg reached the top five in the list of wealthiest people on earth [33]. But Tencent came of age before mobile. Changing a product in ight is tough. 2022 The Author(s). Taobao did not charge a fee but made money from online services and advertising. 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. 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]. FANGs Facebook, Amazon, Netix and Google preside happily over Silicon Valley. [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). What about Tencent 3.0? Please refer to the appropriate style manual or other sources if you have any questions. With a click on a red envelope icon, gifts of money could be sent to friends and family. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. [Nikola] Tesla invented the electric power we use, but he struggled to get it out to people. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. 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. Japan, Alibaba Group Holding Limited; Jack Ma. Ortega first applied this approach in a bathrobe business, Confecciones Goa, company that he founded in 1963. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. Bill Gates clearly fits in the description of an innovator, a pioneer, and a supporter of organized learning and growth [45, 67, 71, 72, 73]. Reclusive, secretive, and reserved are words frequently used to describe him. League Business Leader. February 22, 2019. They dont have to unlearn bad habits. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). We may process your personal information for carefully considered, specific purposes which enable us to enhance our services and benefit our customers. 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]. We have added your email address to our mailing list and we hope you enjoy our thought leadership. Employees become disengaged. The launch of WeChat is a case in point. 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. 2 on China's 100 Richest last yearsaw his net worth tumble to $49.1 billion this year, as Beijing tightened rules on the countrys internet companies. [5], Speaking of censorship at a tech conference in Singapore, Ma was quoted as saying "In terms of information security management, online companies from any country must abide by a defined set of criteria, and act responsibly. 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. [19] Ma Huateng ranks fourth in the list of Forbes's China's 100 Richest, with a net worth of US$23.4 billion in December 2022. 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. So, you can say Tencent not only helped Ma Huateng also known as Pony Ma to attain financial success, but it also . The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. He believes in leading a transformational leading style by giving an affable environment to his employees. Tencents third source of revenue is an ecosystem built around its one billion users. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. Ma studied computer science at Shenzhen University, where he earned (1993) a Bachelor of Science degree. If youve already registered, please log in. Its not about money. Brief introduction to this section that descibes Open Access especially from an IntechOpen perspective, Want to get in touch? [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. 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. Not in China. Take the use of ID cards in China. 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). Ortega eats lunch with his employees in the company cafeteria. BAT Baidu, Alibaba and Tencent are Chinas power gang. In the case of entrepreneurial leadership, Gupta, MacMillan, and Surie came up with a list of 19 leadership attributes that appeared to be the most relevant [17]. It has stakes in electric car maker Tesla and music-streaming service Spotify, which in turn has a stake in its Tencent Music. Manag. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. 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 The actual scheme was not so much based on sparks of disruptive innovation and genius, but on a systematic approach toward producing inventions [64]. Alibaba, Jack Ma is good at adapting new strategies to gain in electric maker... The Alibaba Group Holding Limited ; Jack Ma is more aggressive on initiatives... Constellations, Tencent can enjoy exclusive invitations to the global party people you have, how youre led and. Taobao did not charge a fee but made money from online services and benefit our customers leadership... Ranked top in the list of wealthiest people on earth [ 33 ] made $! Could be sent to friends and family styles, respectively opinions from LBS faculty and other experts direct to inboxSIGN... 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