Neat. [27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. What is the profession of Ma Huateng? What do they fundamentally do wrong? Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. 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. Part of Mas deck-spreading strategy is to take Tencent worldwide, in line with the Chinese governments One Belt, One Road national grand plan. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. 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]. Both hubs developed a long list of innovations [53]. Amazons Je Bezos created a similar mandate in 2002. Larry Page met Sergey Brin when Larry entered the doctorate program at Stanford. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. He was born in the Chaoyang District of Shantou, China, on October 29, 1971. Northouse explained, "Transformational 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]. With that purpose, they devised a new type of search engine tool to track the backing links of each site. In 2016, Apple ranked number 1 in the world in terms of market capitalization. Thats why we allow those who understand the needs of younger users to do the job, said Ma. Eventually, there is no assumption on what the results would have been or would be if some other of these frameworks would have been tested in the study. Tencent started based on a revolutionary innovation, Internet-based QQ service. Ma asks people to try bravely, without hesitation, which is how WeChat came about. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. 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. 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. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. 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. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. Home prices slumped for a third-straight month in September; Twitter quietly stopped enforcing its Covid-19 misinformation policy; meet the youngest honorees on Forbes 30 Under 30 2023 list; and more. Resilience is all part of Mas mission to face down internal and external attackers. Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. This type of leadership is best used when there is a big change in the company or a clear direction is needed. 4 On China's 100 Richest 2021, Tencent CEO Ma Huateng Is Back On Top As Chinas Richest Person, Tencents Ma Huateng Overtakes Jack Ma As Chinas Richest Again Amid Coronavirus Lockdowns, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Alibabas business model bets a revolutionary innovation: Mas belief that the small-business-to-small-business online market offered much greater opportunity than the consumer-to-consumer one, the reason being that, unlike consumers, small businesses are willing to pay a membership fee [91]. He then worked in research and development for China Motion Telecom Development Ltd. before founding (1998) Tencent with several friends. Ma's leadership style changed from transactional leadership to transformational leadership. Under Mas leadership Tencent greatly expanded its offerings to provide users with a range of what the company described as online lifestyle services. In addition to instant messaging, those services included e-commerce sites, online media outlets, gaming and other interactive entertainment, social networking sites, online advertising, and online payment processing. Bachelor of Arts/Science, Shenzhen University. 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. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. After his return to China, Ma founded China Pages, a website page developer for Chinese businesses. By 2016, it employed 40,000 people, up from 1,000 in 2004. Visionary leadership style. . 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]. 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. 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. Chaoyang, Shantou, Guangdong. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. 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]. 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. Its now vogue to call customers users. Think of Apples iPhone, which rolled the iPod, cell phone and web access into a single device. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. Alibaba and Tencent have repeatedly clashed over the same turf. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. Taking into consideration the profile that could be expected in the context of startups and an innovation-led context [1, 2, 3], best framework candidates for further evaluation would be (1) transformational leadership, (2) charismatic leadership, (3) entrepreneurial leadership, and (4) visionary leadership. 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 worlds largest Internet companies. 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). Publishing on IntechOpen allows authors to earn citations and find new collaborators, meaning more people see your work not only from your own field of study, but from other related fields too. Googles beginnings were less humble than those of earlier Silicon Valley startups at the time, because the two founders were able to initially raise US$1 million US dollars [49]. Steve Jobs leadership style & personality. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. 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 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. In. In 2017 Tencent became the rst Chinese rm to pass the US$500 billion stock market valuation mark, overtaking Facebook. Analysts estimate that more than two thirds of the almost 1.4 billion population use Tencent. Ma Huateng studied computer science at Shenzhen University, where he earned a bachelor of science degree (1993). 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]. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. Each month product managers run 10 end-user surveys, read 100 users blogs and collect user-experience feedback from 1,000 people. [39] However Forbes has not decreased his net worth as the shares are still listed under his name. 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. Visionary leaders have clear, long-term visions, and are able to inspire and motivate others.