TCP in B1.3bn drive to go multinational
TCP Group, the maker and marketer of Krating Daeng and gold Red Bull energy drinks in Asia, is spending 1.3 billion baht this year in a rejig to boost sales to 100 billion baht by 2022 as part of an ambitious plan to become a multinational corporation.
Saravoot Yoovidhya, the group's chief executive, said the spending is largely to upgrade corporate potential, increase staff capabilities and support global marketing.
"At a time when everything is being disrupted, we need to adapt and be ready to deal with fast changes in the industry," Mr Saravoot said. "It is crucial to prepare people to drive our organisation."
As a Thai company that owns world-class brands, runs overseas offices and works with business partners around the world, TCP has to have the highest standards to guarantee a good reputation and prestige for the country, he said.
Prakun Chanthong, the group's director of human resources and administration, said the company has designed a new approach to work, transitioning from the old methods to an innovative platform that integrates technology.
The group's goal is to modernise people's capabilities while also attracting a younger generation of talent to support global business growth, he said.
TCP Group has also invested 740 million baht to build a new headquarters on 6 rai of land in Bangkok's Bang Bon district adjacent to the existing head office.
The new building has been designed to include workspace supportive of the new work approach. The workspace will be more open and relaxed, with partition areas between departments allocated for talks or meetings.
The new headquarters will start construction in 2019, with completion and operation scheduled for 2021. The company will hire 250 additional employees.
"We know how important it is to create a good atmosphere in the workplace," Mr Saravoot said. "Offices need to be more than a workplace."
He said the company is also changing the working approach and building a powerful, resilient organisation.
"Innovation is crucial to driving the business," he said. "To ensure the company stays ahead with the wave of change in the industry, technology is an essential tool to increase agility.
"Our staff will then be able to work from a virtual office that functions as a mobile workplace. You simply need a notebook computer and the internet to 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."
Moreover, with the change in technology, the company has invested over 560 million baht to introduce technology designed to help its teamwork.
The company has also invested 80 million baht in staff training to ensure its people are up to speed.
Mr Prakun said the corporate transformation should be completed in 2022, at which point it will have a strong foundation for sustainable growth and expects the proportion of young workers at TCP to increase to 20%, up from 10% at present.