Passionate about investing

Sufficiency Economy Part 2

29 May 2012

I will continue this blog about Sufficiency Economy but focus more on the Energy Industry.  In the afternoon section of The Symposium event, it was separated into 3 major seminars for 3 different industries which were Agricultural, Medical Services and hospitality and Energy.  I chose to go to the Energy seminar room, which interested me, the most.

The Financial Director of PTT, Mr. Surawong, mentioned about the different interpretation between “Enough” and “Sufficient”.  Enough is the point of satisfaction of each person but Sufficient is how to do things at its most efficient and long lasting.  In the case of PTT, it operates with sufficient vision helping the country operate with its own energy.  PPT supports the use of energy wisely and effectively.  One tip he mentioned that caught my attention is our country’s control on energy consumption; we should control internal factors instead of external factors, which we have no power to manipulate.  In this case, we can do Demand Side Management (DSM) or develop sufficiency usage inside the country.

Communication and Community Relation Director of Bangjark Petrolium, Miss Chaweewan, amends sufficiency concept with company culture to both taking care of the environment and society.  The organizations vision is “Green Energy Excellence” which reflects clearly the environmental friendly operation of this company.  The balancing between increasing the company’s value in cash and value in people’s mind happens since the first step of recruitment.  Every employee has to sign the contract that he/she will devote time each month for social work.  This is a company that I think knows how to give and take.

Mr. Pravit, Board of Director of Mitrphol, shows clearly that sufficiency does not stop development or company growth.  The company always develops and evolves since the start as “Ruam-yu Ruam-Chareon”.  The Company focuses on Research and Development and they believe knowledge and prudence needs to cooperate together within an organization.  The major development of this company is expanding the value chains vertically and horizontally.  With this development, it can operate with zero waste.  Every part of cane is used to produce valuable products, not only sugar which is a core product of Mitrphol, but also a fertilizer from its residue and ethanol from molasses.

Miss Korpkarn, President of Toshiba Thailand, proves that taking care of people and society pays off for the company, especially in the bad times.  The major flood last year had a huge effect to Toshiba since its factory is located in the flooding area.  But unlike other electrical appliance companies, Toshiba Thailand was safe because of its employee’s and the small distribution shops helped protect the company, which makes Toshiba able to survive from the natural disaster.  Its people and partners love Toshiba because the company creates confidence for workers, consumers and society.  Even though other companies might turn away from small stores but Toshiba supports them with good a business model for surviving tough competition from Super Stores.

I found out a common thing between these companies, which is the focus on “people”.  For every company to walk in the same direction and commit to the same goal, especially the good one, requires right people who possess the right attitude which will drive the company forward and act in the best interest of the company and society.  For me, not every company can use the sufficiency concept but each people can live each life with sufficiency in mind as well.  A Good example is to have a work life balance by spending a good amount of time taking care of your family or doing social work, not only devoting all your time for work and forgetting about what really matters in life.

Suchada Larpkittavorn

Marketing Executive