Readers of this column will no doubt be familiar with the Thailand 4.0 initiative and its focus on the areas of technological disruption and the need for capability building in Thailand. Other markets in Asia and the world are also facing similar challenges brought on by what's termed the fourth Industrial Revolution or "Industry 4.0." These terms may not yet have entered your business conversations but no doubt the concepts have. In 2018 it’s hard to imagine any business leader worth their salt who is not thinking hard about how they are going to compete in a world where technological disruption is permeating everything. Marketers now need to understand and utilize big data, customer teams must effectively manage their social media presence, and logistics professionals now have to play with parameters in complex shipping algorithms so that the pair of socks you ordered online is sure to arrive at your house in a maximally efficient way.If you don't feel like your company … [Read more...] about Winning in a 4.0 disruptive economy – why developing high potential talent is key (part 1 of 2)
Economy challenge
Manpower solutions for workforce challenges
Sourcing competent, reliable and skilled workforce in a full employment situation is a major challenge for every employer, large-scale or small-scale. Offering ready-made and tested solutions is a role that has been provided for 70 years world-wide and 20 years in Thailand by the Manpower Group. Manpower operates worldwide through 3,500 offices in 80 countries, serving over 400,000 clients. In Thailand, Manpower operations commenced in March 1998 under the leadership of Simon Matthews, who continues to develop the company from his Bangkok head office, with a total of 12 offices nationwide. Manpower employs over 15,000 contract workers, who are designated as "associates", working with over 500 clients. The company has 220 permanent staff and a turnover in 2017 of Baht 3.9 billion.We asked Simon Matthews, who also until recently served as Chairman of the British Chamber of Commerce in Thailand, about the objectives, challenges, performance and ethics of Manpower Group in Thailand and … [Read more...] about Manpower solutions for workforce challenges
Saudis cheer tycoons’ release, face business challenge
RIYADH: Cheering supporters greeted Saudi Arabian billionaire Prince Alwaleed bin Talal when he arrived at his skyscraper offices in Riyadh after his release from detention in an anti-corruption crackdown. But he and other tycoons freed from a luxury hotel in the Saudi capital face a challenge to get back into the swing of running their financial empires in the uncertainty hanging over the business community since their detention in early November.Their ability to do so could impact Saudi Arabia's attempts to lure investors to big projects, an important part of Crown Prince Mohammed bin Salman's grand vision to transform the kingdom and reduce its dependence on oil."It will need another six to nine months without disruption or another witch hunt before anyone would be willing to move on anything major," a regional banker said of the business climate. "This is not the right time to bring anything to market."Online footage showed Prince Alwaleed waving from a luxury car in a convoy … [Read more...] about Saudis cheer tycoons’ release, face business challenge
There’s a major hurdle to employment that many Americans don’t even think about — and it’s holding the economy back
Transportation presents a difficult and underreported challenge to low-income workers trying to find jobs and manage daily life in the US without a car. Regional Federal Reserve Banks such as the Philadelphia and Kansas City Feds are working to promote solutions for economic problems by bringing together the private sector, government, and community organizations. The struggles of Nichole Keyes, a 28-year-old single mother of three who works as a picker in a Pennsylvania warehouse, echo those of millions of Americans. For Nichole Keyes, a 28-year-old single mother of three young children, landing a job as a warehouse picker in Scranton, Pennsylvania, proved difficult enough. But that was only half the battle – getting to work was the other. Keyes’ day has her waking up at 4 in the morning. At 5, she wakes her kids (ages 2, 4, and 6), and gets them ready for school. She then walks a half-hour to downtown … [Read more...] about There’s a major hurdle to employment that many Americans don’t even think about — and it’s holding the economy back
Cambodia economy to grow at 6.9% this year: Central bank
The Cambodian economy will grow by 6.9% this year, according to projections from the National Bank of Cambodia (NBC), spurred by the robust performance of the tourism, construction and garment sectors. The figure features in a recent report by the NBC titled Macroeconomic Prospects and Financial Sector in 2017 and Outlook for 2018, according to the Khmer Times.Other international bodies have issued similar forecasts, with the World Bank also placing Cambodia’s growth in 2018 at 6.9%, the International Monetary Fund (IMF) projecting 6.8% and the Asian Development Bank saying it will be 7.1%.“Strong regional growth will support investment, exports and tourism,” the report reads.“Garment exports, meanwhile, will be supported by access to preferential treatment from the European Union and the US, as well as an increase in exports to Japan and Canada, which will help us reduce our reliance on just a few markets.“The country has also been diversifying its … [Read more...] about Cambodia economy to grow at 6.9% this year: Central bank