Wednesday, September 18, 2019

TCP Group plans to become Thai-owned multinational

Aug 21. 2019
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By THE NATION

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TCP Group, the manufacturer and distributor of Krating Daeng (Red Bull), Ready, Som Plus, Sponsor, Mansome, Puriku and Warrior brand beverages as well as Sun Snack snacks, today, unveiled its plan to introduce significant corporate changes.

The company aims to become a multinational corporation in order to boost corporate potential, increase staff capabilities, create business opportunities and support global marketing through overseas offices. The group aims to initiate three major changes – the “3Cs” – change of namely office, work approach and technology at a cost of some Bt1.3 billion.

“At a time when everything is being disrupted, we need to adapt and be ready to deal with fast changes in the industry. It is crucial to prepare people to drive our organisation. TCP’s vision is clear. As a Thai company which owns world-class brands, runs overseas offices and works with business partners around the world, we have to operate at the highest standard to guarantee a good reputation and prestige for Thailand. It is a huge responsibility. The corporate transition to a digital platform is part of our 5-year business plan to enable employees at all levels to handle ever-changing technological challenges. We are looking to triple our sales to Bt100 billion and become a Thai-owned multinational corporation,” said Saravoot Yoovhidhya, the group’s chief executive. 

Prakun Chanthong, TCP Group’s director of Human Resources and Administration Division, also commented, saying: “TCP Group is a large organisation that employs people from different backgrounds. Getting both experienced employees and younger staff to collaborate seamlessly is one of our priorities. That’s why we have designed a new approach to work. Utilizing the 3Cs concept will enable everyone to transition from the old framework to an innovative platform, which integrates technology with work process. Our goal is to uplift and modernize people’s capabilities while also attracting new generations of talents to support global business growth.”

C 1 – Change of Office to Innovation Hub

TCP Group has invested Bt740 million in building a new company headquarters on a property adjacent to its existing head office. The new building has been designed to include work space supportive of the new approach. The work space will be more open and relaxed with partition areas between departments allocated for talks or meetings. On individual floors, each department will focus on creating a positive ambience among employees. The amount of common areas to be used for staff activities and recreation, will increase by 30 per cent. Modern technology will be installed to connect the equipment of employees at the head office, at provincial offices and at overseas branches to enable fast and convenient operations.

The new headquarters will be built on an area of 6 rai and will be 4 stories high. Construction will begin in 2019, with completion and operation slated for 2021. Following the opening of the new headquarters, the existing head office will be renovated, following the same concept as the new headquarters.

“We know how important it is to create a good atmosphere in the workplace. Offices need to be more than a workplace. They should be places where everybody comes together in casual meetings to brainstorm and collaborate. This will allow employees to mingle and promote creativity and innovation. When the new headquarters are completed, we will hire 250 additional employees,”. Prakun said.

C 2 – Change of Work Approach and Building a Powerful, Resilient Organisation

“Today, innovation is crucial to driving business. To ensure that we stay ahead with the wave of change in the industry, technology is an essential tool to increase agility. Our staff will be able to work from a virtual office which functions like a mobile workplace. You simply need a notebook computer and the Internet, or hold video conferencing as needed. This allows people to be more agile and productive without being bound to the office. TCP staff may work at home or in a co-working space provided by the company in cities, upcountry and abroad. This will allow the organisation to truly operate as a global company,” Prakun said.

In addition, agile performance and scrum are adopted to allow cross-functional and cross-generational co-working to create seamless teamwork, especially in international collaborations or global marketing when local employees work with marketing teams of other countries. This will lead to the integration of a global-standard approach to work for staff located in different countries, enabling a borderless culture of high performance.

“This new approach will bring our staff a positive work experience, as it will simplify and provide effective solutions to day-to-day hiccups. It is designed to make our organisation stronger and more agile,” Prakun said.

C 3 – Change of Technology

“New developments like the Internet of things, virtual reality, AI, cloud computing or robotics will eventually change the way businesses operate,´ Prakun continued. “That’s why we have invested more than Bt560 million to introduce technology designed to help our team work, such as the introduction of a virtual office and the use of an AI chatbot to communicate with our employees and customers. We have also set up an internal ‘incubator’ team to help our staff learn and experiment with prototyping product and service ideas, which could leads to deeper understanding of consumers and the marketplace.

“Our plan is for TCP Group to become an innovation hub that continuously keeps us on the leading edge in terms of product and service development, propelling our organisation forward in line with our vision. In addition, equipping our people with skills for the new world is of extreme importance. For that reason, we have invested Bt80 million into staff training to ensure our people are up to speed and that no one is left behind. With this transformation, it is our commitment to retain all employees and not have any lay-offs. Our investments are aimed to uplift capabilities, bolster job security and open the organisation up for new high-performing talents.

“The corporate transformation will be completed in 2022. By then, we will have a strong foundation needed for sustainable growth which will make TCP Group a Thai-owned multinational corporation,” Prakun said.

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