5 CEOs of Well-Known Businesses Reveal the Secrets of Transformations;

Oct 26, 2022

Infographic_SEAC Transform_ Final.png SEAC, a leader in personal and organizational development that ignites a passion for lifelong learning, organized a seminar on “Transformation Starts at the Top!” inviting 5 top executives of well-known companies in the country to join the seminar on transforming the organization starts from the top executives in order to achieve sustainable growth and cope with the changes of the global society. One of the key elements of ‘Transformation’ is that it is not only about transforming financial and administrative management but also enhancing potentiality of people to work more efficiently, without forgetting to consider happiness of work. Dr. Chairat Panthuraamphorn, Managing Director and Chief Executive Officer of Samitivej Hospital and BNH Hospital Group “Take good care of the good employees. Treat differently for those who always cause setbacks.” First interesting thought was from Dr. Chairat Panthuraamphorn, Managing Director and Chief Executive Officer of Samitivej Hospital and BNH Hospital Groups, leading private hospital groups in Thailand and Southeast Asia. He talked about managing people during the transformation period that “Maintaining the balance of human resources is essential. During the time when Samitivej Hospital was affected by the COVID-19 pandemic, we needed to find ways to manage cash flow of the organization and streamlined the organization through the ‘Transformation’ team to enhance working efficiency. We initiated the concept of 4 Saves, 1 Seize as follows:
  1. Save people – We have to understand that every staff is important element in driving the organization. Executives must do their best to save every employee during the pandemic and must be the one they can rely on when they got sick.
  2. Save family – Family means every matter in the whole hospital. For example, on the day when our income dropped, we needed to find ways to cut more expenses so that we could save our family.
  3. Save Money – We chose to cut expenses and unnecessary manpower and save the rest for important things.
  4. Save work – We must consider what work should be removed or what work should be enhanced to add more value. And 1 Seize means seizing the good opportunities by transforming work, money, and assets that we have into additional sources of income for the organization as much as possible. At the same time, he also revealed the techniques of managing people with the concept of ““Take good care of the good employees. Treat differently for those who always cause setbacks.” And lastly, he revealed the secret of ‘No Vision’ management by creating value and embracing agility as the guidelines for doing business in the constantly changing world in order to handle the new situations in a timely manner.”
Thanapol Sirithanachai, Chief Executive Officer (Country CEO), Frasers Property (Thailand) Public Company Limited Learn New Things (Unlearn – Learn – Relearn) Management restructuring, changes of leaders, mergers and acquisitions are common things in the business circle. It often comes with the cultural change problems that force everyone to adapt. In this regard, we can learn interesting experiences from Thanapol Sirithanachai, Country CEO of Frasers Property (Thailand) Public Company Limited, a leading integrated real estate developer in Thailand. He said, “In the past three years, there was a major restructuring in our group. We had a merger and acquisition, resulting in the integration of three real estate businesses: residential, industrial and commercial properties into one platform. It helped to strengthen and mitigate business risks. The big challenge was how to make people in the organization but from different cultures accept each other and work together. We had to lead changes in attitude, communications, and understandings to make employees accept and adapt to the company’s new policies. They had to let go of the old things and “learn new things” (Unlearn – Learn – Relearn).” Thanaphon has also set up the ‘People Passion’ team to explore employee’s working satisfaction and build relationships with them. Lastly, the secret formula of transformation is the understanding of human nature. You must transform yourself into an executive who is reachable, listens, and knows how to let go. You have to take off your mask, reduce the desire to be No. 1 or outstanding one to become the one who connects and collaborates for the benefits of the shareholders. Ronnachai Kongboonma, Chief Executive Officer of Chanwanich Security Printing Co., Ltd. “Changes Start at the Top of the Organization.” Transformation is not just a change of the executive’s thinking, but it is also about making everyone in the organization aware of the directions of transformation, starting from the top executives of the organization to employees. Ronnachai Kongboonma, Chief Executive Officer of Chanwanich Security Printing Co., Ltd, the leader of advanced anti-counterfeiting printing solutions, said that “Transformation must start from the top management of the organization.” It has to begin with changing the mindset of yourself, executives, and everyone involved, equipped them with the entrepreneurial spirit and ways of thinking that can help survive the organization. They must also be ready to overcome any obstacles that might happen by using different expertise of the teammates. Ones must be willing to learn new things and skills to help improve the organization by placing the right people and let them drive the organization in various dimensions. Most importantly, ones must know how to strike a balance between family, shareholders, employees, customers, stakeholders and businesses by setting the common goals to achieve. And the secret formula is understanding. You should look for individual value and interests, put the right man in the right job, create a powerful passion, and do the work together.” Panittha Buri, Managing Director of Bangkok International Trade and Exhibition Centre (BITEC) “Creating the Balance of Management, Professionally Manage the Family Businesses” COVID-19 has had quite a severe impact on the on-event business as a result of the lockdown measures. Panittha Buri, Managing Director of Bangkok International Trade and Exhibition Centre (BITEC), a leading event venue in Thailand and Asia Pacific, mentioned about the moment she had to make the organization and family get through the crisis by enhancing professionalism of staff in every business unit. “With the two lockdowns, BITEC received negative impact of over 50% because we had to shut down the venue for almost a year. We had to find new solutions by using figures, statistics, and data analysis to consider whether what should be continued and what had to be stopped. Executives must change themselves first and have to work fast. Finally, the secret of successful transformation is to tell the truth to employees, accept the circumstance, try different solutions, learn new things, and letting go of the old things as to create a balance of management and professionally manage the family business. Yuthachai Charanachitta, Chief Executive Officer, Italthai Group of Companies “Choose the people who work for the organization, not the ones who please the boss” People are important element in the organizational transformation. However, choosing the ones who don’t match the requirements or don’t have the right attitude can bring trouble as well. Yuthachai Charanachitta, Chief Executive Officer of Italthai Group of Companies, the owner of various business groups including hotels, machineries, integrated construction businesses and so on, revealed the secret of improving people’s efficiency that “Transformation is all about policies and people management. The right people should be the ones who work for the organization, not the ones who only please the bosses.” Furthermore, we also need the employees with the fighting spirit so that they can help the company to survive the crisis. In terms of management, we have reviewed our business plans and find the ways to save costs. We also created an efficient platform. Every change and execution plan must be able to be analyzed and calculated into amount. Executives must have positive thinking and vision. The last secret of success is they should know what skills they are good at and what passion they have. Executives must know how to set the common corporate goals to get quick win. At Italthai, we let employees to celebrate even a small success. It is an encouragement for everyone.” Arinya Talerngsri, Managing Director of SEAC, finally concluded that “Transformation has no specific format. Transforming an organization and a business range from financial management, administrative management, as well as human resources management which is the most important aspect. Executives or leaders of the organization are the first and foremost element that leads to the success of transformation. Followed by the improvement of working and sharing common attitude of people in the organization to boost their working potential. SEAC hoped that the talk being held this time would benefit all the audiences, who mainly are the business owners of various industries, enabling them to cope with the global changes and support their employees to the next level of growth in the organization in the future.”