With the economy experiencing low growth, corporations and entrepreneurs have to reorganise their businesses to prepare for the economic cycle bringing recovery.
This is the way to manage a business during a crisis period, Surapit Promsit, president of Bangkok Training International Co, said yesterday.
“With our more than 10 years of experience in training and advising for the restructuring of corporations, when an economic crisis is a challenge for corporations to restructure their business, we can help them with training their staff, restructuring the management team and also learning new technology.
“This will prepare the company to do business as soon as possible when the national or global economy recovers,” he said.
If a business is ready to take advantage of the economic recovery with the best organisation that it took time to restructure during the downturn, it will succeed faster than its competitors that did not do anything during the slowdown.
The key is to train the whole staff from top to bottom on what the corporation wants from its employees, and to find out what they want from the organisation.
This will inspire them to do their best work for the firm.
Most corporations in Thailand need to reorganise when they grow faster because they have the problem of finding middle managers and how to develop middle management to rise to higher ranks in the future.
Surapit said it was not just Thai corporations that were interested in restructuring their business during an economic slowdown, Myanmar firms also need advice and training after the country opened up to foreign investors.
Bangkok Training International opened a branch in Myanmar last year when corporations there needed to restructure to compete with the international firms entering the country.
“Corporations in Myanmar opened their minds to restructuring and training their staff to support sustainable growth and compete with newcomers that have more experience than local firms,” he said.
Most corporations in Asean have already prepared for the Asean Economic Community that goes into effect next year, resulting in growth in the training and advisory business in this region, which has both local and international firms.
The company is advising and training both private and public entities such as the Energy Ministry, Thai AirAsia, Central Marketing Group and corporations in Myanmar.