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. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. On being a pioneer: In a world thats changing really quickly, the only strategy that is guaranteed to fail is not taking risks [75]. No exceptions, said Bezos. Ma Huateng's fortune is derived from his 9.7 percent ownership of Tencent Holdings. In Hong Kong, he has a rebuilt palatial mansion of 1,820 m2 (19,600 sq ft). It is the biggest mobile gaming franchise in the world, surpassing the revenues of Microsoft and Sony. The trip meant to represent the culture of the . That gave Toyota an edge in terms of productivity and quality [86, 87]. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). 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.. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. He is the founder, chairman. The World's 10 Most Powerful Executives This year's Forbes list (May 10, 2018) of the World Most Powerful included 75 namesone for every 100 million people on earth. On being an inspirator: We look for people who are passionate about something. 2023 Forbes Media LLC. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. As a world, were doing a better job of that. Northouse explained, "Transformational Ma Huateng - better known as "Pony Ma" - is the elusive founder, chairman and chief executive of China's titan tech rm Tencent. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. 2.0Leadership Style of Pony Ma Huateng When starting-up of Tencent Company, Pony Ma was a transactional leader who leads his subordinates through transactions which is more emphasize on quality of product and the relationship with employees is more like in contract form. A self-confessed geek who trained in computer science, he knew about the tech people wanted to use. Tencents market hierarchy and teamwork innovation orientation cultures were shaped by these two leadership styles, respectively. 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]. During the second quarter of 2020, the company posted net sales (revenue) of RMB 114.83 billion. It was a revolution. [27] He received a Bachelor of Science in computer and applied engineering from Shenzhen University in 1993. The list includes personal computers, music distribution, tablet computing, mobile phones and digital publishing. In 1999, Mas company launched QQ service (then called OICQ), which quickly became Chinas most popular instant-messaging platform. By 2015, QQ had 850 million monthly users [94]. 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]. Following the AOL lawsuit, Ma wanted to broaden Tencents business portfolio. Creating back doors was a ring oence. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. Ma Huateng. For instance, the rst major chat app in China wasnt WeChat; it was Miliao, which was produced by Xiaomi. In 2010, Ma imitated Microsoft by forming two competitive engineering teams and assigning them the task of developing a new product. Tencent. 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. 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. 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. It takes rapid iteration and even then, according to Ma, perfection is never reached. In January 2018, WeChat launched a pilot digital ID scheme, allowing citizens to link their national identity to the platforms facial recognition app. Autocratic leadership style. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. 2004, 29, 222-240. 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. Based on the contingency leadership theory,this paper analyzes the leadership style of Ma Huateng and examines the impact of his leadership style evolution on Tencent culture.Ma's leadership style changed from transactional leadership to transformational leadership.These two leadership styles shaped Tencent's markethierarchy orientation culture What about Tencent 3.0? Corrections? Ma led research and development of Internet paging system development at China Motion Telecom Development before starting Tencent in 1998. User first Still, Tencent has surged ahead and left national rivals like Baidu behind. Shenzhen also ranks at number 3 in China, and 4 in East Asia. The new system made Toyota the car industry leader. [43] He owns a redeveloped palatial residence of 1,820 m 2 (19,600 sq ft) in Hong Kong. Visionary leadership is comparable to Lewin's authoritative leadership style. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. 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]. VR, AI you name it, Ma is buying stakes in it. He later managed a clothing store that catered to wealthy clients. 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. The Startup Ecosystem of Shenzhen is ranked at number 18 globally, and shows a positive momentum increasing 3 spots since 2021. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. The launch of WeChat is a case in point. On this Wikipedia the language links are at the top of the page across from the article title. Gates is as introverted, similar to Larry Page [45, 55] and, definitively, he is not as charismatic as Steve Jobs [39, 45, 71, 72], but, still, he has been equally visionary. That's why the need for online management is increasingly urgent. Neat. [39] However Forbes has not decreased his net worth as the shares are still listed under his name. 3% of Tencent management is Hispanic or Latino. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. [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. [Google . TENCNET PONY MA ZIXIN LUO(RITA) 4010255 Outline Outline Pony Ma's background TENCENT PONY MA'S MANAGEMENT STYLE CONCLUSION References list Pony Ma's Achievement LEADERSHIP STYLE Pony Ma' background Pony Ma's background He was born on October 29, 1971. During the last two decades, there is an increasing number of leadership theories and frameworks. The four models that were considered potentially suitable for a context of disruptive successtransformational, charismatic, entrepreneurial, and visionaryunderwent a further scrutiny in order to determine which one would better suit the context of disruptive success, as it is briefly described in the next paragraph. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. Tencent subsequently gained the backing of two overseas venture-capital firms, and in June 2004 the firm raised nearly $200 million when it went public on the Hong Kong stock exchange. Tencent had grown to become Chinas top instant messaging service by 2004, prompting Ma to list the firm on the Hong Kong Stock Exchange. 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. Ortega eats lunch with his employees in the company cafeteria. [31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. Huateng is clearly a pioneer and innovator. Tencent's popular social messaging app WeChat has more than 1 billion users. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. Again, Zuckerberg is as charismatic as Jobs or Edison [39, 45, 71, 72]. Ma quickly embraced open-source software. By Urban Woman. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. Chuanzhi, Zhang Ruimin, Ma Yun (Jack Ma) and Ma Huateng (a description of the five companies and their leaders is provided on page 4). Its business roughly splits into three. Next, the chapter describes a conducted multi-case study that tested the actual possible correlation between the chosen leadership framework and the profile of the leaders of their disruptively successful corporations. Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. Mas tolerance of failure is strategic. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Feature comparison between studied firms and founders. 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