Effective strategic and business continuity management plus “Banpu Heart” help overcome
published : 16 Sep 2020 at 13:42
the challenges and grow business in a sustainable way, say two executives of Banpu
Managing an organisation to overcome a number of challenges and business disruptions has never been easy. With the COVID-19 effect, it was even harder than usual. However, a leading energy company like “Banpu” somehow managed to maintain its strength, so the Company was not affected much and has been able to overcome the challenges of business situations.
One big reason, obviously, was because, on a daily basis, energy is necessary for every life and every business. However, this reason alone is not sufficient to explain Banpu’s strength. As such, Mr. Virach Vudhidhanaseth, Senior Vice President – Corporate Strategy and Corporate Secretary, and Mr. Jirameth Achcha, Head of Corporate Services of Banpu Public Company Limited, shared their views about the Company’s business plan and corporate strategy as well as its business continuity management plan especially in a time of crisis. They also shared their views towards the corporate culture that led Banpu to overcome any crisis that has happened over the years, particularly the COVID-19 crisis, and striving to strengthen the business in a highly sustainable way.
Mr. Virach Vudhidhanaseth, Senior Vice President – Corporate Strategy and Corporate Secretary of Banpu Public Company Limited started by saying, “In any industry, challenges can happen at any minute of every day. It’s why Banpu needs agility in our business plan in order for us to cope with any change or challenge that might arise. Every year we come up with long-term 5-year business plans where we analyse the situation in the global economy as well as in the industry. We also update our plan to be relevant with the changing situations. During the spread of COVID-19, our three core groups of businesses, namely, energy resources, energy generation, and energy technology, have not been directly affected because energy is a necessity for a living. However, we have got indirect impact due to the decline in an energy demand, which is a result of the global economic downturn. Consequently, we need to adjust our business plan. 2020-2021 will be a defensive period where we focus on our financial liquidity through generating cashflow while reducing risks by investing only in projects that should gain immediate cashflow. We will also
reduce expenses to strengthen our cashflow and cope with uncertainty in the best way possible. 2022-2025 will be revitalisation period after COVID-19, where we will look for more investment opportunity in renewable energy and energy technology to be the main income of Banpu Group, which is in line with our Greener & Smarter strategy.”
Mr. Jirameth Achcha, Head of Corporate Services of Banpu Public Company Limited shared that, “During the spread of COVID-19, the situation was quite tough. When the government announced lockdown, Banpu brought out its business continuity management plan to adapt within our organisation. This was a result of how we are well prepared for unexpected circumstance. In normal situations, we have a tangible business continuity plan (BCP). We have an Incident Management Team (IMT) in every country our business operates. The teams do the exercise of BCP at the country level annually to ensure that our business continues no matter what happens, so that we can deliver our products and services to clients as promised while generating a long-term return to all stakeholders.”
In a challenging situation, agility is one important factor that helps an organisation survive difficulties. Banpu has regularly encouraged agility among employees to make them adaptable to change. The Company also came up with a “Work Anywhere” program to allow employees to work anywhere for three days each month. The program has been executed for more than nine years. This is not to mention how Banpu uses Electronic Document Management systems to
promptly connect, send, and receive important information from inside and outside the organisation. When the Company announced a ‘work from home’ measure during the spread of COVID-19, every employee was ready and able to work smoothly and effectively. This was truly a driving force that allowed the Company to move forward and grow strongly.
Another key success factor that allows Banpu to be flexible and well-prepared for crisis is something the Company calls “Banpu Heart”. As Mr. Jirameth Achcha puts it, Banpu Heart comprises.
• Passionate which is passion about the work to strive for the Company to be a leading integrated energy solutions provider in Asia Pacific.
• Innovative which is being creative and innovative to improve and elevate your work to be even more effective and, at the same time, be able to come up with new ideas to create new business while being flexible to adapt to changing business environments to allow the Company to grow in a sustainable way.
• Committed in terms of sustainability, honesty, and unity to make our company reliable to all stakeholders while financial institutions are ready to support us.
Mr. Virach Vudhidhanaseth concluded, “Banpu Heart is what harmonises our employees who work in 10 countries with differences in race, language, culture, knowledge, competencies, and experiences to be working together smoothly. It is what drives everyone at Banpu to synergise, bring the Company forward and overcome difficulties and challenges to reach the goals. We care for each other like a family, so employees have good morale and encouragement in their dedicated work to fight together to overcome challenges over the years. I think this is the reason why we are surviving the COVID-19 crisis without being hugely affected by it.”
The two executives from Banpu also discussed how, after COVID-19, everything would not only be new normal because we might actually enter an era where nothing is normal again. That is why an organisation needs to have a plan to be well prepared for risks and changes and to cope with challenges promptly that might happen in the future. Banpu will continue to look for new technologies and tools that help it better prepare for changing business environments all the time. The aim is to allow business to continue smoothly while retaining financial liquidity with sustainable growth.
And as a result of that, the Company can be ready to help communities and society during crises. Over the past months, Banpu has offered its help to Thai society through a 500-million-baht fund under the name " “Mitr Phol-Banpu Solidarity to Aid Thailand on COVID-19 Confrontation Endowment". The aim of the fund is to support medical and public health organisations with medical supplies and help people affected by COVID-19 across the country. Banpu will continue to help people in Thailand and pave the way for Thais to survive this difficulty together.