Bangkok--7 Nov--SCB Sasin, in collaboration with Siam Commercial Bank, has organized the “Bai Pho Business Awards by SASIN”, Thailand’s most prestigious award program for SMEs, aimed at optimizing SME competitiveness, inspiring sustainable business development, and propelling the Thai economy into the future. The project is now open for SME award nominations. SCB Chairman of the Executive Committee Dr. Vichit Suraphongchai described the Bank’s motivation in participating in the awards as being, “…due to the Bank’s recognition of SMEs (Small to Medium Enterprises) as an important engine driving economic development. Therefore, the Bank’s primary focus has been on strengthening SME potential to continuously operate their businesses amidst increasing competition. The key factor to SME success is for those organizations to differentiate themselves. With increasing competition from foreign companies and larger firms with lower costs, distinguishing Thai SMEs will assist them in maintaining their market share and increasing their pricing power. Currently, many SMEs have admirably built up their unique reputation, strictly adhering to good governance principles, to serve as role models for other firms. The Bank, therefore, would like to praise such SMEs, who demonstrate their capability to succeed in business, setting a benchmark for good standards to others.” The Bank provides support to such projects only for funding, and the evaluation process will be at the discretion of the project committee. Project participants are not required to be Bank customers.” Thai Chamber of Commerce Honorary Chairman Dr. Ajva Taulananda, in his capacity as Project Chairman in charge of selecting award winners for the Bai Pho Business Awards by SASIN, added that, “Currently, SME awards have not been very popular, especially awards that focus on distinctions or differences, which are key factors in optimizing competitiveness. SMEs are an important foundation in generating revenues for the country, in terms of exporting, strengthening the economy, and employment. The strength of SMEs will in turn enhance the economy. The Bai Pho Business Awards will contribute to the value of SMEs, and broaden opportunities for recognition in business circles. The awards will be a symbol of distinction and success for entrepreneurs, and will be publicized through the Project’s public relations plan. At the same time, entrepreneurs will also receive practical recommendations to benefit their business development.” Sasin Deputy Director for Academic Affairs Mr. Kittirat Na Ranong noted that, “As an educational institution continuously focusing on skill development for business management, the Bai Pho Business Awards by SASIN will serve to provide opportunities to SMEs to demonstrate their business potential, and develop their capabilities. Sasin will conduct case studies of award winners to be adopted as an educational tool for business study in the future. SMEs with capabilities in accordance with the predetermined criterion will be passed to a consideration process to identify their excellence in terms of customer focus, innovation initiatives striving towards high quality, adaptability to change, value creation, branding, efficiency, leadership & team building, and social responsibility.