Bangkok, Stock Exchange of Thailand Organized a seminar and launched the book ‘Formula for Success in Thai Family Business: in a World of Change’ written by Special Professor Kitipong Urapeepattanapong Chairman Thai Credit Bank Public Company Limited and directors of the Stock Exchange of Thailand In this book launch There was also a ceremony to award royalties for the book to Chewamit Social Enterprise Company Limited in the amount of 2 hundred and twenty -five thousand baht.
Special Professor Kitipong mentioned that this book was first published in 2003 and first published in 2011 in 5,000 copies, second edition in 2019 in 8,000 copies and third edition in This year 2024, there will be 5,000 copies. For this book, it will be useful to readers. The book is over 400 pages long. If anyone reads it, they will see a picture of the family business that someone once asked: If you have read this book Will it be successful or not as you see it? It can’t be proven yet because the book has only been written for 21 y
ears. He is not the first person to write a book on family business success, but he is the first person to write it this long. However, family businesses can be successful. There must be a good structure such as shareholding and company regulations. Benefits Compensation Communication Dispute Resolution Generosity and Kindness including changes However, if running a family business, there must be the principles of the “4 brahmavihahara” which are loving-kindness, compassion, kindness, upekkha and the “4 sa?khahavatthu” which are dana, piyavaca, atthacariya, and samanatta as important elements.
Mr. Sathien Sathithamma, Chief Executive Officer of Carabao Group Public Company Limited, talks about the formula for family business success. From the business owner’s point of view, the business will be successful today. Must do business in a new way Environmental impacts must be taken into account because things on this planet are all interconnected. Change is inevitable, especially in the retail business. If we use
technology, we will be able to compete. I used to make Carabao Dang drink more than 20 years ago. But the old factory had to be closed. Let’s open a new factory using technology to help increase production capacity. They can produce 1,200 bottles in 1 minute and 2,700 cans in 1 minute. In terms of family life, I have 3 children. Every child must get along with the employees in the company. You must make your children understand employees. So we can work together. The important thing is that we will teach our children to love each other.
Ms. Sineenuch Koknutaporn, Managing Director of Thai Eastern Group Holdings Public Company Limited, talks about the formula for family business success. From the point of view of business owners, they have seen the development. Father’s business At home, he runs a business of growing sugar cane, rubber plantations, and palm plantations. Father prepares the soil. Prepare everything for planting. I am the second generation to continue doing business after my father. The next ge
neration will be the children and grandchildren. In the past, father often took them to meetings with customers. It makes you understand the business you are doing more. However, the problem in agriculture is water resources and water sources. We grow crops mainly by using the rain. Therefore, we must prepare water sources for cultivation. He himself has been through 5 drought cycles so he understands water management very well. At present, there are more than 10 factories in the house, so there must be continuous development of water sources. There must be a way to recycle water and reuse water for which we must use sufficient resources.
Dr. Sornphon Tulayasathien, Deputy Manager of the Stock Exchange of Thailand, said that family businesses are considered important to the Stock Exchange of Thailand because businesses are registered with the Stock Exchange. More than half come from family businesses. Able to employ more than 900,000 people. After the pioneer era has passed into the 2nd and 3rd eras, we do n
ot want the business to fail and be unable to continue. which this book It will help the family business grow sustainably. It is considered a good textbook for those who are interested.
Source: Thai News Agency