[31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. Inditex ranked 67 in the global top 100 as per market capitalization [29]. Mas visionary leadership is as uniquely prolific as that of Edison and Jobs. Taobao did not charge a fee but made money from online services and advertising. It differed from other social media sites at the time in the fact that it required real names and e-mail addresses [74]. Our editors will review what youve submitted and determine whether to revise the article. 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.. 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]. He was born in 1971 in Chaoyang, Shantou, China. And I think that same spirit can be put into products. Corrections? Pony Ma's leadership style can be as unusual as his nickname. These strategic partnerships are all options for future growth. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. 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. Enjoy reading!! Website: Biographyscoop.com He is said to own property in Hong Kong as well as art worth $150 million. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. Omissions? Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. Acad. [32], At Ma's behest, Tencent launched in 2005 the C2C platform Paipai.com (), a direct competitor to e-commerce giant Alibaba. This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. 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. Japan, Alibaba Group Holding Limited; Jack Ma. The battleground is vibrant. 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. By Urban Woman. 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. My goal is for Google to lead, not follow that [59]. WeChat hit most global markets in 2012. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. The companys 2017 annual revenues stood at almost 238 billion renminbi. Profiles. By 2015, QQ had 850 million monthly users [94]. Ortega also is, as most of the previously analyzed leaders, an introvert. Charismatic leaders emerge in times of instability, change, or crises, but many critics argue that charismatic leaders tend to forget the groups benefit and try to gain most of the attention for themselves. Unlike Western app constellations, Tencent combines as many features into one app as possible. [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. ", 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. 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. But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. 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. Openness also means sharing. By mlavoie on June 1, 2019. Mandi is an experienced writer on various topics with a passion for telling stories with words. 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. 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]. This is related to our culture. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. (TIE) Zhao Changpeng (Canada) Bloomberg. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. As stated in Tencent's 2020 official interim report, it makes revenue from its four major lines of business as enumerated below; Value added services - RMB 65 billion, a 35% year-on-year . Ma Huateng is a proponent of the Chinese Communist Party. Then, other manufacturers of IBM-compatible PCs also turned to Microsoft in search of its products. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. It is true that leadership is one of the 4 functions of management but that does not mean that all managers are effective leaders. 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 Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. And lets face it, with a market of almost 1.4 billion, the state economy is still ripe for the picking. On the opposite, transactional leaders, which frequently are less successful in terms of outcomes [5], usually adopt four possible approaches which are (1) contingency rewardrewards in exchange of support, (2) management by exception (active)monitoring and just acting when a corrective deed is necessary, (3) management by exception (passive)no monitoring and just acting when a corrective deed is necessary, and (4) laissez faireleadership avoidance [6, 7]. 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. Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. Thats why we allow those who understand the needs of younger users to do the job, said Ma. Jack Ma's wealth gain for the year all but evaporated, after Alibabas stock was dragged lower on renewed worries over the companys growth prospects. 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]. Mas tolerance of failure is strategic. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. On being an innovator: Invention is not enough. So what can the rest of the world learn from the man behind it all? Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. The couple has a daughter named Ma Manlin. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. How has he created the capacity to pivot in anticipation of and response to changes? Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. The internet sector in China is politically policed, but it is also lightly regulated. Both students were interested in finding a way for extracting useful information from the mass of data in the Internet. Ma Huateng better known as Pony Ma is the elusive founder, chairman and chief executive of Chinas titan tech rm Tencent. 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. Yang Huiyans riches evaporate as her Country Gardens stock plunges 84% amid real estate squeeze. What is the profession of Ma Huateng? Shenzhen also ranks at number 3 in China, and 4 in East Asia. What about Tencent 3.0? This is a few principles for us to select talent [95]. Amazons Je Bezos created a similar mandate in 2002. 4. The key leadership style of Ma Huateng is transformational, as he has been able to inspire his employees to achieve great things Autocratic leaders make all the decisions without consulting their followers. London Business School takes your privacy seriously. By late 2015 QQ had approximately 850 million monthly active users, and WeChata mobile instant-messaging app that was first introduced in 2011had some 650 million users. Based on the streamlined approach to replenishment, Ohno devised the Toyota Production System, which is more broadly known as lean manufacturing or Just-In-Time (JIT) inventory system. In 2010, Ma imitated Microsoft by forming two competitive engineering teams and assigning them the task of developing a new product. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. To date our community has made over 100 million downloads. He later managed a clothing store that catered to wealthy clients. He reportedly owns property in Hong Kong and art pieces worth US$150 million. Reflects change since 5 pm ET of prior trading day. 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. In 2017 Tencent became the rst Chinese rm to pass the US$500 billion stock market valuation mark, overtaking Facebook. He applied the term transformational instead of transforming. Bass argued that transformational leadership has four constitutive parts [6, 7] which are (1) idealized influence, (2) inspirational motivation, (3) intellectual stimulation, and (4) individualized consideration. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. Wang Dan-ting is the wife of one of China's richest men, Ma Huateng, the founder of Tencent and QQ. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. As of January 2021, Ma is worth $46.8 billion which places him . Ma asks people to try bravely, without hesitation, which is how WeChat came about. That's why the need for online management is increasingly urgent. No product starts perfect. 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