'Customer first' key to success in Asean market
Play
Siam Commercial Bank president Kannikar Chalitaporn has suggested that Thai enterprises planning to expand into the Asean region after it becomes a single market in 2015 should think more about how their businesses can benefit customers in other countries
Speaking at the SCB seminar “Cutting-Edge Strategies for AEC”, Kannikar said several global companies used this philosophy, as they know their overseas customers are as important as those at home. Companies doing business overseas must think about sustainability, and Thai companies should develop better products and services than local businesses if they want to succeed in Asean markets.
She said Thai businesses should recognise the importance of preparing for the coming Asean Economic Community. The seminar aimed to provide knowledge and understanding about the AEC and new business opportunities while also identifying perspectives on business potential in the region. The bank is ready to provide full support to customers seeking to tap new business opportunities, she said.
Sutapa Amornvivat, chief economist at SCB, said business opportunities could be divided into three major types. First is pursuing more opportunities in the local market, second is seeking enlarged investment or market opportunities abroad, and the third type faces new challenges arising from changes in rules and regulations and more players in the business.
Businesses should start studying themselves as well as rivals, exploring opportunities while ensuring they can manage risks. Every business must discover its “secret weapon”, because having a competitive advantage will be the key to prosperity in the Asean market.
