• 
• 

Published on October 16, 2007

Call such a phenomenon what you may, but the dynamics of the movement of capital and its consequences are changing, said Suvit Maesincee, a marketing lecturer at the Sasin Graduate Institute of Business Administration.

Taking his cue from all the popular "big ideas" books - think Malcolm Gladwell's "Blink" and Wired magazine editor Chris Anderson's "The Long Tail" - Suvit explained the blurring of the line between private and public good has ushered in a new era of greater openness and an outward-looking attitude in the capital society.

With more interactivity the result of the fast movement of information and knowledge, catalysed by the Internet, we are now living in a "post-knowledge society", Suvit said.

Lest you think he is yet another academic preaching from his ivory tower, Suvit was once an adviser to Somkid Jatusripitak, then a deputy prime minister in the Thaksin Shinawatra government.

With the new "three Cs of capitalism" - concept, capital and connection - peer-to-peer interactivity has rendered size irrelevant.

Having acquired McDonald's Thailand last year, Vicha Poolvaraluck, chairman of Major Cineplex, said the fast-food giant now no longer focused on opening more branches, but individual store growth.

"We realised we would grow and retain customers better by improving the quality of services and products," said Vicha. "I spent quite some time convincing the board we could learn from McDonald's."

McDonald's holds a bimonthly global conference, where managers share their best practices and help each other improve their businesses.

For instance, McDonald's Thailand could learn why McCafe works in some countries but not another, said Vicha.

Meanwhile, faced with competition and an influx of overseas capital, Muang Thai Life Assurance has been trying to survive.

In the highly fragmented market, the insurer has succeeded in tapping into the grassroots market by listening to what "70 per cent of the population has to say", president Sara Lamsam said. The company implemented a localised, village insurance scheme, with policies sold by spouses of village and community leaders.

The 50-year-old Muang Thai has risen from 10th in the local market to fourth since Sara took the reins of the family company and radically rebranded its identity.

"I am not sure if capitalism can be sustainable … I only get the chance to see my two daughters at the weekends," said Sara. "Perhaps I have lost myself in capitalism."

Ki Nan Tsui

 The Nation