Inditexs business model, which is based on flexibility and speed, requires a vertically integrated value chain that differs greatly from that of other competitors, like Benetton and Mango. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. First, they adopted BASIC, a programming language used at the time on larger computers, as the core of their work. Dear colleague, dear friend: these are the words that, both, Ortega and Steve Jobs, used in letters addressed to employees [81]. I try to focus on that: What is the future really going to be? As for external competition, Tencent has experienced plenty. This chapter reviews relevant literature in order to identify the leadership framework and profile that may better characterize entrepreneurs and business leaders that eventually founded or developed disruptively successful firmspopularly known as unicorns. Next, the chapter describes a conducted multi-case study that demonstrates a strong correlation between the positive checkmarks in the selected leadership frameworkvisionary leadershipand the profile of the leaders of nine different international corporations that became industry leaders in less than 20years (Apple, Google, Microsoft, Facebook, General Electrics, Toyota, Alibaba, Tencent, and Inditex). So Ma created Seven principles agility, openness, user rst, speed, resilience, evolution and innovation to guide product creation. The companys 2017 annual revenues stood at almost 238 billion renminbi. [39] However Forbes has not decreased his net worth as the shares are still listed under his name. As a world, were doing a better job of that. [38], In 2016, Ma transferred US$2.3 billion worth of his personal Tencent shares to his charitable foundation, the Ma Huateng Global Foundation (). Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. Pony is Mas nickname, which comes from the English version of his surname Ma, which means horse. Ma is known for his reclusive lifestyle and rarely appears in the public. 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. The actual scheme was not so much based on sparks of disruptive innovation and genius, but on a systematic approach toward producing inventions [64]. Tencent provides mass media, Internet and mobile phone value-added services including web portals (QQ.com), social networks, popular instant messenger (Tencent QQ), online games, e-commerce, and series of . You must be a registered user to add a comment here. 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. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. Ineciencies and inertia creep in. Its business roughly splits into three. Since then, GE has been in the lists of top ranked companies in the USA [61]. Multiple theorical and practical studies indicate that the longitudinal multi-case approach is the best one in terms of properly investigating the results of qualitative inputs [23, 24, 25, 26, 27, 28]. Reshma Saujani, as shown above, is a champion for girls and women. Ma is a member of the 5th Shenzhen Municipal Peoples Congress and the 12th National Peoples Congress, according to the official Tencent website. Tencent also create Qzone, which boasted 670 million monthly users by 2015 [94]. Tencent Inc. is a Chinese IT and investment holding company that was founded in 1998. Ultimately, though, the combination of Onhos leadership and revolutionary innovation transformed Toyota from being an average car maker in Japan to becoming the number one global leader. Please enter a keyword and click the arrow to search the site, How the man behind the Chinese goliath keeps innovating. We hope you enjoy our thought leadership. According to Ma, "giving up is the greatest failure. Superlatives attach themselves to Pony Ma and Tencent, the Chinese technology juggernaut the 46-year-old entrepreneur cofounded and leads as CEO. Ma Huateng (also known as Pony Ma) chairs Chinese internet giant Tencent Holdings. From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. (Co-founder and Former Executive Chairman of 'Alibaba Group') Jack Ma is a Chinese businessman, investor, and philanthropist. Internet giant Tencent founder and CEO of Ma Huateng, worth $50 billion, has surpassed Alibaba Co-Founder Jack Ma 's $48 billion fortune to become China's richest person, according to the. The described multi-case study found the four attributes that define visionary leaders (creators of a positive and inspirational vision; supporters of organized learning and growth inside the organization; innovators; pioneers) in the nine studied cases. Eventually, during the last two decades, this model helped Google to be involved in a relevant number of discontinuous innovations, including Android, YouTube, Google Books, and Google Maps, and some continuous ones, such as Chrome or Gmail [54, 55]. By 1980, Gates managed to convince a large computer manufacturing multinational, IBM, to depend on Microsoft for every software related to personal computers (PCs). Inditex ranked 67 in the global top 100 as per market capitalization [29]. 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. At a tech conference in Singapore, I discussed censorship. On this Wikipedia the language links are at the top of the page across from the article title. Microsofts initial success was based on one disruptive innovationpersonal computers and related software [66]. Please refer to the appropriate style manual or other sources if you have any questions. 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. In the case of the selected framework, the results are the ones that tell if this choice was right. Ma asks people to try bravely, without hesitation, which is how WeChat came about. [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]. China 2015, 20, 99-104. No product starts perfect. 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. That gave Toyota an edge in terms of productivity and quality [86, 87]. When something new comes along, customers think its usually best to stick with what theyre used to, unless its dramatically dierent. It has also partnered with Oracle as a way of expanding rapidly into software-as-a-service applications. After the AOL case, Ma decided to expand the business portfolio of Tencent. An article in The Economist describes how Ortega works: He has never had his own office, desk or desktop computer, preferring to direct his firm while standing with colleagues in a design room of Zara Woman, the flagship line. In this process, store managers constantly communicate customer feedbacks to collection designers, who immediately update models and production [77, 78]. Alibaba and Tencent have repeatedly clashed over the same turf. It takes rapid iteration and even then, according to Ma, perfection is never reached. Innovation has nothing to do with how many R&D dollars you have. He registered more than 1000 patents in the US alone [53] and founded more than 300 companies [34, 35, 36, 53]. Edison also was one of the first entrepreneurs to apply the principles of organized teamwork to the process of invention [65]. Rev. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. He then worked as a researcher for China Motion Telecom Development Ltd. before founding Tencent in 1998. Regarding the second attribute of visionary leadership [18], which is supporting organized learning and growth within the organization, Jobs spoke eloquently about its importance, from his own point of view: The people who are doing the work are the moving force behind the Macintosh. Lizzy Caplan Bio, Age, Husband, Net Worth, Inside Job, Castle Rock, Movies, Tisha Campbell Bio, Age, Husband, Children, Uncoupled, Net, Movies, Cassi Davis Bio, Age, Family, Boyfriend, Net Worth, Movies, TV Shows. London, SW7 2QJ, Bill Gates, Mark Zuckerberg. 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 4. Ma led research and development of Internet paging system development at China Motion Telecom Development before starting Tencent in 1998. Based on this history, there is no doubt that Taiichi Ohno was a visionary, an innovator, and a pioneer [18]. Tencent's popular social messaging app WeChat has more than 1 billion users. How? We believe, and then we see. Jack Ma is more aggressive on new initiatives and strategies whereas Pony Ma adapts a more stable strategy. Evolution at Tencent means the capability to improve, self-correct and stay focused. Tencent developed Paipai.com, a direct competitor to e-commerce giant Alibaba, in 2005 at Mas request. The article Leadership theory and research in the new millennium: Current theoretical trends and changing perspectives [1] provides a review of the state-of-the-art research in terms of leadership research of the last two decades, including most of the theories and frameworks, except that of visionary leadership, which has anyway been included in the analysis [2]. 2023 Forbes Media LLC. Facebooks initial success was therefore based on one single but relevant disruptive innovation: social media [71, 74]. Huateng is clearly a pioneer and innovator. The conclusion of this article is beneficial to the firm and its leaders in terms of using leadership style to shape the culture, which corresponds to the stage of development and to promote the companys long-term development. 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]. If youve already registered, please log in. Innovation is the result, not the cause, he says but it is easier said than done in a rm as big as Tencent. 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 reportedly owns property in Hong Kong and art pieces worth US$150 million. Also called the "authoritarian style of leadership," this type of leader is someone who's focused primarily on results and team efficiency. Visionaries may be the only ones that can actually provide some accurate guesses, and, at the same time, put together, motivate, and guide a team in the right direction. [31], Along with four other classmates, Ma Huateng went on to co-found Tencent in 1998. IntechOpen Limited Let us know if you have suggestions to improve this article (requires login). In 2017 Tencent became the rst Chinese rm to pass the US$500 billion stock market valuation mark, overtaking Facebook. 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. However, 2years later, he closed his first company because of strong competitors such as Chinesepage [91]. The concept of transformational leadership was introduced by James MacGregor Burns in his book Leadership [4] and then further developed in Transforming Leadership: A New Pursuit of Happiness [5]. The participative leadership style is highly effective in achieving the business goals and vision of the organization. Huateng is worth $55.66 Billion as of October 21 st, 2020. They dont have to unlearn bad habits. He is the son of Ma Chenshu and Huang Huiqing. Omissions? Nationality Chinese. After two months, one team presented an app for text messaging and group chat WeChat which launched in January 2011. No exceptions, said Bezos. In regard of the reasons why this type of profile is required in the studied context, one may be the fact that, in the case of disruptive innovation, nobody, even clients, may be able to forecast or imagine items such as the final functions and aspect of the products, the expected demand, and other features. Ma Huateng is a Chinese business entrepreneur and oligarch worth billions of dollars. As of 2015[update], WeChat (, Weixin), is the largest instant messaging platform in the world, used by 48 percent of Internet users in the Asia-Pacific region. 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]. Always work hard on something uncomfortably exciting! [59]. Wang Dan-ting is the wife of one of China's richest men, Ma Huateng, the founder of Tencent and QQ. 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. 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. Creating back doors was a ring oence. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. Through its participative leadership, Tencent is able to enhance employee motivation, and increase organizational commitment and ownership amongst employees as well as other stakeholders. [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. The evidences all seem to point to a conclusion that Jack Ma is an effective leader who has a seemingly well-developed emotional intelligence and flexible leadership style. 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 started off by improving his communication skills and also learned English. London Business School takes your privacy seriously. Ma Huateng (Chinese: ; pinyin: M Hutng, born on October 29, 1971), also known as Pony Ma,[2] is a Chinese billionaire business magnate. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. 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. User first Finally, it would also be interesting to test how other leadership frameworks fit in the same context and how the same leadership framework fits in the different ones. The other American companies ranked in-between in the original list were not disruptively successful ones e.g. [26] The product quickly became popular and garnered more than a million registered users by the end of 1999, making it one of the largest such services in China. The study described in this chapter explores how some leadership models may be linked to some exceptional occurrences, such as disruptive success. This label can be applied to startups or more maturebut not yet elitecompanies that, at some point, grew fast and became world leaders in a period of less than 20years. If you havent registered yet, please register and log in. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. Zero-Covid rules, geopolitical tensions and a sliding yuan reshape Chinas growth outlook. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. In this Special Edition of the AIB Review, leading industry professionals and members of AIB's Marketing and Entrepreneurship faculty deep dive into the need-to-know industry trends and issues that lie ahead. North America, Western Europe and Eastern Asia, (2) the chosen corporations should be at the highest possible position in the rank of global top 100 companies as per market value [29], and (2) those firms should have become industry leaders in (a) a relatively short period of timeless than 20years, and (b) after leveraging some competitive advantage based on discontinuous innovation. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people [59]. This is a few principles for us to select talent [95]. From 1977 to 1985, Apple was managed by six Chief Executive Officers (Finkle & Mallin, 2010). Tencent made over $56 billion in revenue in 2019, alone. Shenzhen also ranks at number 3 in China, and 4 in East Asia. On being a supporter of organized learning and growth inside the organization: I think as a company, if you can get those two things righthaving a clear direction on what you are trying to do and bringing in great people who can execute on the stuffthen you can do pretty well [75]. Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. 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]. We should not give up the dream of scoring stunning goals in the science and technology . In 2016, Apple ranked number 1 in the world in terms of market capitalization. In 2017 Tencent opened its rst data centre in Silicon Valley and announced plans for ve more outside China. As of January 2021, Ma is worth $46.8 billion which places him . League Business Leader. 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. 3% of Tencent management is Hispanic or Latino. Pony Ma, the low-profile founder of tech giant Tencent Holdings, created a social media stir over the weekend by reposting an article on China's economy, an unusual breaking of silence by a . Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. Otherwise it might lead to hearsay, libel and argument among citizens - not to mention between countries. [31] In order to solve the problem, Ma asked for bank loans and even talked about selling the company. Tencent is also the world's largest gaming company, and amongst the world's largest technology investors, social media networks, and web/mobile app makers. 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] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. Chairman and CEO, Tencent Holdings. . Pages personality traits, like his introverted tendencies, may not fit the profile of a charismatic leader [55, 56, 58, 60], but he definitively does in that of a visionary leader. 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 His proposal was based on reducing production costs by using less expensive materials and more efficient manufacturing systems. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. Ortega also is, as most of the previously analyzed leaders, an introvert. 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. We lack people with dreams, who can die for those dreams; For most people, they see and believe. In 2003, Jack Ma created a new company, the consumer-to-consumer online marketplace Taobao (meaning Chinese in searching for treasure). But Tencent came of age before mobile. By 1889, he had full ownership or participation in many electricity-related companies that got then merged. Updates? He reportedly owns property in Hong Kong and art pieces worth US$150 million. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. The founders like to be simple and dont like to be politicized. Zara soon became not only an internationally famous chain but also the flagship of the holding company Inditex, which he founded 10years later [76]. Ma said in December 2015 that Tencent would open a internet hospital in Wuzhen to facilitate long-distance diagnosis and pharmaceutical delivery. Jobs and Wozniak later designed a far better product, the Apple II [39]. It was a revolution. Nine is also a number in the range of similar studies conducted in the past. Tencent, which owns a stake in. Yang Huiyans riches evaporate as her Country Gardens stock plunges 84% amid real estate squeeze. With a click on a red envelope icon, gifts of money could be sent to friends and family. [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. You need resilience to keep you on the ball. Ma quickly rose to the top of Chinas telecom business after the company raised $200 million in its IPO in June. After giving a quick review of state-of-the-art of the leadership research and theories [1], this chapter shortlists, briefly explains, and finally analyzes the candidate frameworks and chooses the apparently most suitable one. Its based on principles of collaboration, unobstructed discovery, and, most importantly, scientific progression. 5. QQ and Facebook reigned supreme in the PC era and were modied to suit mobile. 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]. But, as it matured, Ma felt the risk of the rm falling into bad habits weigh heavy. Tencent's popular social messaging app WeChat has more than 1 billion users. They were inspired by his ideas behaviour and way of managing his f business. Tencent started based on a revolutionary innovation, Internet-based QQ service. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. 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]. 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. Within 2weeks, half of the students had signed up [74]. 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. As Steve Jobs, Mas idol, once quipped, If you dont cannibalise yourself, someone else will. [Google Scholar] Vera, D.; Crossan, M. Strategic leadership and organizational learning. On being an inspirator: We look for people who are passionate about something. Pony Ma took his gaokao (national university entrance exams) from July 7-9, 1989 and his score was 739 (out of a possible 900). 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. , he had full ownership or participation in many electricity-related companies that got then merged technology juggernaut the 46-year-old cofounded... Before starting Tencent in recent years, we see an incredible increase in FinTech and services! Participative leadership style is highly effective in achieving the business goals and vision of the world in terms market... Students had signed up [ 74 ] pass the US $ 500 billion stock market valuation Mark overtaking. Ma Chenshu and Huang Huiqing time we just could n't afford it, '' Ma remembered some occurrences... Competitor to e-commerce giant Alibaba, in 2005 at Mas request, comes. 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