News 198 views last update:6 Aug 2012

CPF sets corporate values

With nearly 300,000 staff employed worldwide, Charoen Pokphand Foods (CPF) sees the importance of having all share a single set of goals no matter where they work.

President and CEO Adirek Sripatak said that aggressive expansion has driven the conglomerate to adopt a tighter corporate strategy.

With a huge workforce in subsidiaries in 20 countries, it is inevitable that junior workers and some middle-level executives of the company do not share the same business concepts with the top executives led by Dhanin Chearava-nont, chairman of CP Group.

"Top executives like us are close to Khun Dhanin as we talk a lot. But others can feel quite isolated. We need a single set of values to ensure the continuity of corporate success," Adirek said told the English language Thai newspaper The Nation.

The CPF Way
Named the "CPF Way" the program was drawn up to promote young management talent to learn about the organisation's culture via an exchange of views with top executives more often.

It concentrates on six key practices:

  • receptivity to change,
  • personal mastery and shared learning,
  • innovation,
  • integrity and honesty,
  • achievement orientation, and
  • returns to Mother Earth.
Adirek believes that the strategy - based on international practices - will drive the company from an original equipment manufacturer (OEM) to a global brand manufacturer.

In particular, the plan aims to change the mindset of its employees to concentrate more on brand building, consumer needs and retail business channels.

The "CPF Way" should support the company's plan to achieve sustainable growth amid fierce competition. The company plans to reach annual sales of Bt200 billion (€ 4.35 billion) in the next three years. It reported total sales of Bt125 billion (€ 2.72b) last year.

Knowledge transfer
Knowledge transfer is a main focus, given that some executives have worked for the company for 40 years while the company never stops recruiting new employees in response to its global expansion.

One day every month there is a session where 10 selected employees, aged 39-45 years, present their ideas to improve their respective areas to Dhanin and other top executives.

The recorded presentation is also stored in the in-house electronic system so that other employees are informed of the same issues. Next time, it could be their chance to present their views.

"Accumulated experiences will lead them to the right decisions and avoid mismanagement," Adirek said.

More local management
So far, CPF has promoted its Thai executives to lead newly opened overseas units. Now, when the locals in respective countries are subsequently promoted, Thai executives will be dispatched to somewhere else.

Talented young executives will be trained in appropriate courses to become effective leaders and an important engine to drive the company's business in the future.

The training programmes are written after visits to many multinational companies such as GE and Boeing.

Their human-resource development schemes have become CPF's platform to stand for good practices from the West. But Thai management culture is mingled to complete the training programmes of CPF.

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