Advice on grooming young tycoons

Harald Link, chairman of B Grimm Group, which has been in Thailand for 137 years, said that what he wanted his children to have was a good and healthy life, and to be a good person.

“What I can contribute to my children is good education. And I’m glad to see my daughter continue our family business,” he told a forum held by Forbes Thailand.

Link said he led his daughter to be a citizen of the world, and have a chance to touch different countries and absorb their languages and best practices. 

“My daughter Caroline is able to speak six languages, including English, German, Spanish, French and Arabic. She also knows many business practices, starting from retailing, marketing, real estate, finance and manufacturing.” Caroline, who will continue in her family’s business in June, said she had not had any pressure from her father to do so. She said her parents “gave me the freedom to learn and doing anything I love. However, what is growing in my heart is the feeling of responsibility and ownership in the family’s business.” 

Harald Link said that to ensure sustainable growth, the next generation needed to understand the business, such as the role of shareholders and boards of directors.

“They also have to learn how to build a strong business structure and working system,” he said.

“I started my career in Thailand 36 years ago. At that time, Thailand was a small road with no way out, as it was surrounded by non-opened countries, consisting of Laos, Myanmar, China and Vietnam. 

“Nowadays, all those markets are opened and the world is changing. Then we need to understand the world and know which direction Thailand will go,” he said.

“As business entrepreneurs, we want to know what is happening in  developed countries, such as the US and Europe. What happens in those markets will also happen here,” he said.

The key challenge is that some executives have strong management practices, but what they lack is long-term vision. 

He would like to apply the way of Buddhism to the business so as to create a culture of harmonisation and togetherness in the organisation, and to allow all staff to be happy at work. 

Business also has to provide good contributions to society.

Pornsit Sriorathaikul, chairman of Beauty Gems Group, said that when he was young, he was sent by his older brother to study in the United States for four or five years in preparation to run the family’s jewellery business.

“What I received from my parents is a good business reputation and what I have to do is to maintain and pass on that good reputation to the next generation,” he said.

“I have worked very hard in running Beauty Gems from the beginning. And what I will teach my son, Suriyon, is to stay and manage his life by himself, and not to take advantage of others.”