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. READ THE LATEST ARTICLE 16 Jan 2023 4 business administration skills every leader should have Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. The original term transformational already implies the existence of some entity that experiences transformation, and it is not so suitable in the context of completely new startups [7, 19]. Including the selection of cadres, the character is very important. Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. The other quality of a visionary leader, supporting internal growth, was clearly evinced by the way that he spoke about Toyota and its organizational style over the length of his career. [3][4][5] The company develops China's biggest mobile instant messaging service, WeChat, and its subsidiaries provide media, entertainment, payment systems, smartphones, internet-related services, value-added services and online advertising services, both in China and globally. Jobs and Wozniak later designed a far better product, the Apple II [39]. But Tencent came of age before mobile. Inditexs supply chain operations focus on three aspects: maximizing resources used, minimizing inventory, and minimizing lead times [78]. Ortega first applied this approach in a bathrobe business, Confecciones Goa, company that he founded in 1963. These labels define a concept different than Christensens. Openness also means sharing. His passions kept changing over the time. In 2017, Fortune ranked him as among the top businessmen of the year. Agility was their ability to do it. Always work hard on something uncomfortably exciting! [59]. 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 later managed a clothing store that catered to wealthy clients. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. As for external competition, Tencent has experienced plenty. Edisons role on the development of these technologies and later commercialization of them clearly qualifies him as visionary, innovator, and pioneer [18]. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. 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. Alternatively, Call of Duty or Candy Crush might be the vehicle that realises the global ambitions. Reclusive, secretive, and reserved are words frequently used to describe him. That social media post reflected an uncharacteristic step for the Tencent founder, who has kept a low profile in recent years amid China's regulatory crackdowns. He red o an email and the next day a new software release was online. It is a system that says there is no limit to peoples creativity. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. Leadership Styles during Disruption: A Multi-Case Study Written By Alberto Abadia Submitted: July 8th, 2022 Reviewed: September 13th, 2022 Published: October 28th, 2022 DOI: 10.5772/intechopen.108029 IntechOpen Leadership - Advancing Great Leadership Practices and Good Leaders Edited by Joseph Crawford From the Edited Volume Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. Ma Huateng is a business magnate, an entrepreneur, an engineer, a philanthropist, and an investor. It was a revolution. IntechOpen Limited Entrepreneurial leadership framework appears to be a suitable option for the study in terms of effectively measuring the entrepreneurial aspect in leadership, but it does not really screen or measure elements that may impact discontinuous innovation [17], which would be mandatory for the chosen context. 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. 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 [43] References [ edit] Because of his alternative approach to leadership, which BK is all about, we took a deep dive into what makes Nadella so special and why he's a leader to look . While its Western peers face further scrutiny on privacy, Tencent is less restricted. In 2007, 2014,[6] and 2018, Time magazine named him one of the world's most influential people,[7] while in 2015, Forbes credited him as one of the world's most powerful people. Ma quickly embraced open-source software. 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. Let China's internet giants tell you", "Ma vs. Ma: The most expensive house in Hong Kong belongs to one of China's internet kings - but is it Jack or Pony? These strategic partnerships are all options for future growth. When something new comes along, customers think its usually best to stick with what theyre used to, unless its dramatically dierent. 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. Unlike the previous cases, Toyota was not a startup at the time of its disruptive success and Ohno was not its founder. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. In 1859, Edison quit school and began working as a train boy on the railroad between Detroit and Port Huron. Xiaomis founder and CEO Lei Jun admitted that WeChat eclipsed his product because Tencent could release one or two versions every week. On his role as a supporter of organized learning and growth inside the organization: My job as a leader is to make sure everybody in the company has great opportunities, and that they feel theyre having a meaningful impact and are contributing to the good of society. My goal is for Google to lead, not follow that [59]. During the last two decades, there is an increasing number of leadership theories and frameworks. During the next decade, Edison grew fast as successful mogul [62]. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. By giving the project the green light, Ma, in eect, gave Zhang full licence to cannibalise the existing QQ product. Tencent's popular social messaging app WeChat has more than 1 billion users. He considered the next generation better positioned to dream up the next big product idea. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. In 2016, Apple ranked number 1 in the world in terms of market capitalization. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. 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]. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. 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]. How? Leader influence on followers Jack Ma was a charismatic leader that influences his follows; they used to find his a credible source of information so they trust every word he says. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. Take the use of ID cards in China. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. [33], Since Tencent's prized service OICQ was offered free of charge, the company looked to venture capitalists to finance its growing operational costs. But imitation, when executed well, is a valid form of innovation. 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]. 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. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. What about Tencent 3.0? Tencent, which owns a stake in U.S. videogame company Epic Games, is one of the largest videogame publishers in the world. First, the ubiquitous messaging app WeChat. WeChat hit most global markets in 2012. 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. [31] In December 2000, Ma changed the name of the software to QQ (with "Q" and "QQ" used to stand for the word "cute").[35]. The Inditex group is a multinational textile fashion retailer firm founded in 1985 in A Corua, Spain. Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. 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. Therefore, the framework that appeared to suit the best in terms of analyzing environments that combine entrepreneurship and innovation is that of visionary leadership [20, 21, 22]. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. Tencent Holdings Ltd., also known as Tencent, is a Chinese multinational technology conglomerate holding company founded by Ma Huateng in 1998. 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. He started off by improving his communication skills and also learned English. In May 2005, Facebook received additional money from a venture capital firm (US$12.7 million) [74]. Younger employees understand what people want. Tencents third source of revenue is an ecosystem built around its one billion users. Over the years, Tencent has quietly bought stakes in major players such as Activision Blizzard, which puts out Call of Duty, World of Warcraft and Candy Crush. 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. [12][13][14][15][16][17][18], As of January 2023, he has a net worth of US$43 billion according to Bloomberg Billionaires Index. In 1993, he graduated from Shenzhen University with a Bachelor of Science in computers and applied to engineering. Tencent is the collective answer to Facebook, Apple Pay, gaming, WhatsApp, Spotify and Amazon. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Ma Huateng. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. [Google . Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. At 49 years old, he is the Chairman of Tencent, a company listed amongst the biggest companies in the world by the . No exceptions, said Bezos. Get started for FREE Continue. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. London Business School takes your privacy seriously. Ma's leadership style changed from transactional leadership to transformational leadership. Many other tech rms, such as Facebook when it acquired WhatsApp and Instagram, have legitimised internal competition. He is said to possess property in Hong Kong as well as art items worth . Inditex produces a significant amount of its production in-house and makes sure that its own factories reserve 85% of their capacity for in-season adjustments [77]. Business school: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN.! Existing QQ product is Chaoyang, Shantou, Guangdong province is said possess. Quality of Pages leadership strength, especially during his early tenure [ ]! 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