Bangkok--12 Jun--124 Communications
The Thailand Corporate Excellence Awards Program has now been successfully organized for eight years by the Thailand Management Association (TMA) in collaboration with Sasin Graduate Institute of Business Administration (Sasin) of Chulalongkorn University. The program’s Thailand Corporate Excellence Survey is conducted annually by MarketWise Ltd. and is the largest survey among senior business executives of the top 1,000 companies as ranked by revenue to serve these objectives:
1. To identify Thailand’s leading organizations in various key corporate excellence categories;
2. To obtain information on corporate excellence, business outlook and relevant issues through the perspectives of business management professionals; and
3. To establish and develop a benchmark for Thai business management and development.
The survey was conducted during the period of 11 March — 11 May 2009 and altogether 412 executives, the majority of which are chairmen, presidents, vice presidents, managing directors, and directors, in these leading companies completed and returned the questionnaires.
BUSINESS VIEWPOINTS OF PARTICIPANTS
“Since the survey’s inception 8 years ago, executives this year have the most negative outlook on the business and economic situation in Thailand as a result of the global economic crisis and local political turmoil. To best weather the storm, executives have focused on reducing expenses, increasing efficiency, undertaking prudent investments and building on the company’s core competencies. Other than these basic initiatives, good corporate governance, effective financial management and strong vision are seen as the elements that can lead to corporate success in this type of economic situation.”
Although leading business executives anticipate a gloomy year, there is one industry — agricultural — that they deem to have a somewhat positive business outlook.
Altogether, a high 87% of the participating executives this year compared to 49% in 2008 have a negative outlook on the economic situation in Thailand, and 76% have experienced somewhat to very high effect on their business as a result of the global economic crisis. Industries that have been hardest hit are light industries such as electronics parts and plastic products, and the automotive/transportation industry.
As for industries such as heavy industry, tourism/hotels, retail, information technology, construction/real estate and professional/business consultancies, they have also experienced high effect on their businesses as a result of the global economic crisis but less so than the first group. It is really only the agricultural industry in which executives share that they are not so affected.
Of steps they intended to take in 2009 owing to world economic problems, reducing costs, increasing efficiency, reduce capital investments and focus on core competencies well outpolled other initiatives.
Initiatives in 2009 as a Result of Global Economic Situation
Reduce operating cost (other than workforce reduction) 80%
Increase efficiency 68%
Reduce capital investments 39%
Focus on core competencies 35%
Restructure organization 27%
Introduce new products/services 24%
Increase productivity 20%
Reduce the workforce 18%
Seek merger or acquisition opportunities 8%
Leave certain markets that do not show growth 8%
Hire talent that would not have been available otherwise 6%
Increase hedging 5%
(Base) (412)
In the past five years, the business outlook that Thai business executives have has continually deteriorated but four aspects are consistently more and more seen as being the pillars for business success.
1. Corporate governance
2. Efficiency in operating business
3. Strong financial management
4. Visionary global perspective
Areas in which business in Thailand needs to improve to achieve success
LIST OF NOMINEES FOR THAILAND CORPORATE EXCELLENCE AWARDS 2008
There are many companies that are cited for their various achievements this year but Oishi Group Public Co., Ltd. makes its first ever appearance in the top rankings in the category of Marketing Excellence. Meanwhile, companies that attain top rankings in new categories include Kasikornbank Public Co., Ltd., Charoen Pokphand Group Co., Ltd. and Advanced Info Service Public Co., Ltd. in the category of Product/Service Excellence; Kasikornbank Public Co., Ltd. in Innovation Excellence: and Siam Commercial Bank Public Co. Ltd. in Leadership Excellence. The complete list of nominees for the Thailand Corporate Excellence Awards are:
LIST OF NOMINEES FOR THAILAND CORPORATE EXCELLENCE AWARDS 2008 (con’t)
FINANCIAL MANAGEMENT EXCELLENCE
Bangkok Bank Public Co., Ltd.
Kasikornbank Public Co., Ltd.
Siam Commercial Bank Public Co. Ltd.
PTT Public Co., Ltd.
Siam Cement Public Co., Ltd.
HUMAN RESOURCE MANAGEMENT EXCELLENCE
Kasikornbank Public Co., Ltd.
Charoen Pokphand Group Co., Ltd.
Toyota Motor Thailand Co., Ltd.
PTT Public Co., Ltd.
Siam Cement Public Co., Ltd.
INNOVATION EXCELLENCE
Kasikornbank Public Co., Ltd.
Toyota Motor Thailand Co., Ltd.
True Corporation Public Co., Ltd.
Siam Cement Public Co., Ltd.
Honda Automobile (Thailand) Co., Ltd.
MARKETING EXCELLENCE
Siam Commercial Bank Public Co. Ltd.
Charoen Pokphand Group Co., Ltd.
True Corporation Public Co., Ltd.
Total Access Communication Public Co., Ltd.
Advanced Info Service Public Co., Ltd.
Oishi Group Public Co., Ltd.
PRODUCT/SERVICE EXCELLENCE
Kasikornbank Public Co., Ltd.
Siam Commercial Bank Public Co., Ltd.
Charoen Pokphand Group Co., Ltd.
Toyota Motor Thailand Co., Ltd.
Advanced Info Service Public Co., Ltd.
CORPORATE SOCIAL RESPONSIBILITY EXCELLENCE
Toyota Motor Thailand Co., Ltd.
Thai Beverage Public Co., Ltd.
Bangchak Petroleum Public., Co., Ltd.
PTT Public Co., Ltd.
Siam Cement Public Co., Ltd.
LEADERSHIP EXCELLENCE
Siam Commercial Bank Public Co., Ltd.
Charoen Pokphand Group Co., Ltd.
Toyota Motor Thailand Co., Ltd.
PTT Public Co., Ltd.
Siam Cement Public Co., Ltd.
Thailand Corporate Excellence PR
For further information, please contact
Khun Saralin Nittayapat
MarketWise Ltd.
Tel. 0-2259-0290-4 ext. 106
For more information, please contact:
Kittisak Anansitichok [email protected]
Eakkapop Pathuratana [email protected]
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Tel. 0 2662 2266 Fax. 0 2204 2662