The Wolfpack has howled its way to victory in the HSBC/HKU Asia Pacific Business Case Competition 2016 in Hong Kong, bringing home the 1st-runner up award, being the first Thai team to have won such an honour. Wolfpack is a team of four Thammasat University students, led by 21-year-old BBA senior Pakapol "Max" Thangthongchin. Prior to this success, Pakapol was also the winner of the recent L'Oreal Marketing Plan Competition 2016. Schooled in Singapore in his teens, Pakapol has mastered the art of self-discipline and being goal-oriented at a young age. Guru chats with the young rising star about his recent win and beyond.
Tell us about the competition.
This competition is unlike anything that we have ever done before. We were met with time constraints and a new way of presenting our strategy. In other competitions we have took part in, we would be granted 20 hours to work on the case, but in this competition, we only had two hours and thirty minutes. Instead of using a PowerPoint presentation, we had to use transparencies, which we were not familiar with. We had to go through many rounds for the competition and during each we had to come up with solutions for the business case assigned to us. There are two rounds, the first in the country where we competed with 195 other teams, and after we won, we went through another round in Hong Kong to compete with 24 teams from all over the world.
Photos: Pakapol Thangthongchin
Why "Wolfpack"?
There are actually two objectives for this name. First, we wanted something to remind us of teamwork. Second, we wanted it to sound intimidating. We have actually had some of the judges in Thailand compliment us on the team's name.
What was the toughest part of the competition?
The competition was a very long process. It started a few months back. Before we went through the final round, we had to go through seven rounds. Sometimes, with the competition being dragged on for that long, we felt a little discouraged so what kept us hanging on was the motivation we received from people who support us and also sticking together as a team.
What is it about public presentation that fascinates you the most?
I actually got inspired by a senior from Thammasat University. I remember being impressed by him when he won a CFA Institute Research Challenge. The way the audience were so captured by him, the way people listened to him and paid attention to the things he said intrigued me. It made me realise that it is the effect I want to have on people.
What makes a good presentation?
It comes down to three things which are the message, how you carry yourself and tonality. For message, sometimes we have to pick out just some of the many points that we have in order to emphasise them to the audience. How we carry ourselves is also important. Show that you are confident in what you have to say and that what you have is good enough to capture people's attention. When you are confident in what you know, you also look confident when you talk. Confidence means eye contact, gestures to engage the audience. The last thing is tonality: if we speak in a dull tone, people might not be interested in what you have to say.
Is there any particular business model in Thailand that you admire?
I like Lazada Group. They started pretty quickly and the company knew how to use social media as a medium to connect with customers. I think that it's really vital in today's business world. Social media is very important since traditional channels such as television have been dying out and they are not nearly as effective as social media anymore. It is a better way to reach younger consumers these days, it engages everyone and I think it really helps businesses grow. It's also cheaper for the company's side since social media is largely free of charge.
What changes do you want to see in Thailand's businesses?
There is a culture of seniority, which in a way is reasonable because older people do have more experience and know more about business. What they forget to take into consideration is the fact that the younger generation are capable of coming up with fresh and new perspectives that can be used in order to make the business grow. I think that lots of businesses should adapt to this new society and open their minds to new opportunities and ways to engaging consumers. Since I aim to work at a consulting firm, a kind of business which usually hires young people, the problem is the seniors from different businesses would have a hard time believing in the advice that has been given to them from the younger generation. What they do not realise is that the younger generation is more familiarised with the modern world and we can give them different perspectives.
What's next for you?
My future career is to work in a consulting firm, because I would have the chance to give advice to other businesses. My work would not only be about making our business grow but also helping other businesses in the country grow as well.
