Coping with corporate challenges amid uncertainties

The initiative under Krungsri Business Empowerment aims to provide knowledge, perspectives, and inspiration to entrepreneurs, and airs on Business Watch, TNN 16 Channel, this month.

Krungsri collaborated with four CEOs from four leading Thai organisations to share their experiences in leadership during a crisis in order to empower customers and entrepreneurs to make a change, welcome disruption and uncertainty.

Each of the four leaders gave important lessons on how to “manage business durinv uncertainty”.

Prasit Boondoungprasert, chief executive officer of Charoen Pokphand Foods Pcl, suggested that “in crisis, we must shift to high-speed mode; otherwise problems will not be fixed in time". What is a high-speed way of operation?

"The end game must be set, we have to ask, if we want to achieve this kind of success, which direction we should take and how to solve problems. Moreover, frontline workers must be given more authority to make decisions, and the steps in approval process must be reduced to enable prompt response to customers,” he said.

"We are also trying to look for opportunities, for example, during the Covid-19 situation, we visited our export partner countries to see how they were affected.

What happened was we had the opportunity to export thousands of tons of chicken meat to Singapore, which led to a bigger project that would help the supply chain in Singapore by providing food safety.

"CP’s plant in Wuhan was chosen by the government to be the sole food supplier for the province, leading to learning and acquisition of logistics knowledge.

"The situation also caused employees of all generations to adapt to IT, resulting in faster operations, decrease in expenditure, use of AI in connection with production process, eg, voice technology in pork quality checking and camera-based chicken weighing system.

"The idea was that everyone should select technologies and approaches suitable for each of their business.