Corporate management reflects comprehensive practices of leading, directing and managing an organization to achieve the desirable corporate objectives. This particular award is intended for companies operating in Thailand with annual revenue of less than 10 billion baht. This year, the Corporate Management Excellence is awarded to TTW Public Company Limited (TTW).
The workplace at SCG has been redesigned to encourage collaboration, with open space and digital facilities to facilitate people-to-people engagement and development. The company uses robotic process automation (RPA) in HR operations to optimize repetitive works such as standard reporting and transaction recording.
Leadership in the digital era is no longer hierarchical; that is, a top-down approach is no longer relevant. Rather, it is about encouraging people to participate, involve and contribute to assigned tasks and empowering people to lead and work with autonomy and freedom.
Today, financial executives are under great pressure to advance their companies into the digital economy. A substantial wave of automation is coming into finance. A good financial strategy is the one that promptly forwards the right information to decision makers when they need it.
A digital transformation has caused a swift change in customer behaviors recently. A thinking on the role of marketing must now accommodate how customers interact with products/services using the digital technologies, devices and platforms. As the digital economy evolves, market-oriented behaviors associated with the uses and purchases of products/services are affected. For instance, with information readily available, buying behaviors are more self-directed and goal-oriented and rely more on social influencers rather than traditional vendors. How individuals make choices depend on all aspects of work, life, emotions, and experience in addition to the products/services usages. Thus, marketing strategies must consider customer behaviors that associate with social interaction, information-gathering process, business and working relationships, brand loyalty, and networked decision-making behaviors, among others.
Traditionally, to fulfill the customers’ expectation, companies must ensure not only sustainable development of their products/services but also social and environmental benefits for all stakeholders. However, in the age of digitalization, it is not just about selling the products/services through different channels of distribution but rather about identifying the best way to enhance the customer’s experience or providing the best solution to facilitate the customer’s circumstances.
A digital economy can be symbolized by a high rate of innovation that leads to rapid technological progress and increased disruption. For example, a technological innovation in the information sharing has triggered a new business model such as Airbnb and Grab. The arrival of block chain technology leads to business model innovation by, among others, allowing financial institutions to create direct links among themselves without correspondent banking as well as making it possible to track products from their origins in the supply chain management.