Bangkok--29 Jun--แม็กซิม่า คอนซัลแตนท์
'Happiness' has become one of the valid concerns around a managerial framework for sustainable business. It leads the framework that facilitates the adoption of the best business practice for enterprises. Not only the enterprises to carry out, it should focus on student learning for the education industry. As a part of academy concern, Chulalongkorn Business School (CBS) of Chulalongkorn University led by Ajarn Kritinee Pongtanalert,Ph.D, associate director of Master Program in Business Administration, recently organized 'Heartful Business' seminar, to reveal sustainable corporate management and practices for enterprises.
Flew from Japan, was a keynote speaker, Professor Koji Sakamoto, former lecturer at Hosei University in Tokyo and an author of 'Japan's Beloved Companies', one of the best-selling books of over 700,000 copies in Japan who insists in building happiness among stakeholders as a key to sustainability. The seminar took place at KBank Siam Pic-Ganesha Theater.
Ajarn Kritinee Pongtanalert, Ph.D, associate director of Master of Business Administration, Chulalongkorn Business School, Chulalongkorn University said 'In the past, successful companies must hold advance technologies or good quality products in order to differentiate from competitors and to win customers' hearts. However, nowadays, technologies and resources such as social media, open source software, 3-D printing, are easily accessible. How would one company maintain its business in this VUCA world? The answer is 'people'. People are the key driver for business success.'
Professor Koji Sakamoto, former lecturer at the Hosei Business School of Management and an author of 'Japan's Beloved Companies' who have studied about small and medium-sized enterprises found that in excellent companies, employee happiness must be a top priority. The employee happiness has a massive impact on company's overall success.
Professor Koji said 'great companies treat employees including their families well and lead the employees to understand the companies' mission. These companies also develop or maintain good relationships with suppliers.
Employees of heartful companies consider themselves as 'philanthropist' and the purpose of business is to meet social needs and bring happiness to all stakeholders. The 5 entities include 1) employees and their families 2) Partners 3) Customers 4) Society 5) shareholders. And the practice to ensure 'employees and their families' happiness and well-being is the top priority.
In the workplace, happiness translates to employment commitment and engagement, all of which are fundamental pillars of an effective corporate. They actively engage in their job well, make customer happiness, no force for selling goods, honesty and fairness to relationships. Customers will not be taken advantage and they will get better products and services.
By bringing the happiness to society, a company in Hokkaido earns one of the most respectable companies with 50% handicapped employees. The company offers a worker-friendly workplace for persons with disabilities with most severe and minor disabilities. Disability residents in Hokkaido don't have to leave their hometown to get job. This commitment brings a lot of happiness to society in Hokkaido and the company wins the first choice whenever is needed.
Another company in Shiba town also hires disabilities for doing the label placement in factory. The company pays 30 Yen for better living instead of performance-based pay 2 Yen. When everybody wants to be helpful to somebody and the company achieves growth even during the economic crisis.
Besides 5 stakeholders, there are 20 common practices of excellent Japanese companies including Competition not based on pricing, many companies use price-war to compete with others. Even though you might win the race that offering the lower price in the market, but you might end up the bottom. The cutting price is more risky to business as the quality of products or services has been dropped. For example, a pen company in Tottori town that produces exceptional standard ink pen. The pen is expensive, for 70,000 Yen and takes over a year for production. There are many production orders and people are willing to wait for their goods.
Managing as a team – at least the great teamwork won't make the team member to compete with each other. Generate long-term vision management - encourage and motivate employees to develop their strengths and provide long-term direction for their dedication. Open-minded family-style management - create employees bonding and relationship and etc.
To increase the numbers of companies most beloved in Thailand, major changes must be carried out. For education program, the shift from 'profit' oriented management theory to 'happiness' is a guided learning for our business future'. Indeed the firms with the 'happiness' platform should be recognized, earning positive feedback or benefits in order to be most beloved companies and sustainability.'
Thai speakers sharing the management practices included: Ms.Chataya Supanpong, Chief Engagement Officer of Food Passion, the operator of the popular restaurant chains 'Bar B Q Plaza' flagship brand mentioned that 'during the 5-6 years, the company grew by 128%. Bar B Q Plaza brings happiness through food and make people happy through our meals.
We have developed a happiness-oriented approach under the 'Happy 4' concept in our corporate philosophy. The Happy 4 delivers all day happiness - eating well, take a good rest, healthy body and knowledge sharing. Prioritize human resources, we started from making employees through customers feel happy. This leads to a cycle of sustainable happiness. In the restaurant business, happy employees can deliver the best service and make the happy meals to customers.
The employees' happiness has a direct impact on business, including employee engagement, higher efficiency, better service creation and stronger team relationships; all of which are fundamental of a sustainable business towards the future. The employees' energy and creativity for the future of business comes from the joy and requires a long term contribution. Therefore, we should not focus only on profit objective at the beginning.'
Mr.Vanus Taepaisitphongse, Executive Chairman of Betagro said 'we have paid great attention to customer care and their quality of life by ensuring consumers' satisfaction through high quality, safe and nutritious food products. We are also working closely with communities around the manufacturing bases. We approach the Holistic Area Based Community Development to enhance the community sustainability.
The commitment to community support, particularly those in the whole society and local communities lead us to better practical knowledge and valuable experience to achieve the best possible products and services in the future.'
Ajarn Kritinee added 'if the company only focuses on 'profit-oriented', the company would employ the low-cost strategy, including labor, products, materials and others. If you drive down costs so much, you might build other costs such as marketing cost and switching costs.
Rather than to manage with the most profitable outcome, the 'happiness-oriented' should be practiced. The happiness-related management practices associate to every single action such as a healthy working relationship, ensure client happiness experience, encourage effective teamwork, build brand loyalty and many more areas to benefit the organization. When everybody is happy, the 'sustainable' development will be occurred'.
Photo show
01 Ajarn Kritinee Pongtanalert, Ph.D. associate director of Master Program in Business Administration, Chulalongkorn Business School, Chulalongkorn University
02 Speakers at 'Heartful Business' seminar from left: 1. Professor Koji Sakamoto, former lecturer at Hosei University in Tokyo and an author of 'Japan's Beloved Companies' 2.Mr. Vanus Taepaisitphongse, Chairman of the Executive Board of Betagro Group 3. Ms. Chataya Supanpong, Chief Engagement Officer of Food Passion Co.,Ltd. 4. Asst. Prof. Patchara Popaitoon, Ph.D, a seminar moderator
03-04 Professor Koji Sakamoto, former lecturer at Hosei University in Tokyo and an author of 'Japan's Beloved Companies', the best-selling book
05 Mr. Vanus Taepaisitphongse
06 Ms. Chataya Supanpong
07 from left 1.Ajarn Kritinee Pongtanalert, Ph.D. 2.Asst.Prof.Siri-on Setamanit, Ph.D, Director of Master Program in Business Administration, Chulalongkorn Business School, Chulalongkorn University 3.Professor Koji Sakamoto 4.Mr.Vanus Taepaisitphongse 5.Ms.Chataya Supanpong 6.Asst.Prof.Patchara Popaitoon, Ph.D.