Hello everyone,
Year of 2024 was a tough year for us, where we couldn’t cope with swift changes of environment due to a big land scape market change by the industrial products price dumping which created harsh competitions and overall stagnant economic growth.
It was the first year of our Business Domain management under the new structure by 3 business domains : ES : Equipment sales, AM : After-market and LR :Lease and Rental with key directions of CASE : connected, autonomous, sharing and empowerment, which I believe will work better this year.
We have also conducted our DX projects and continue applying the DX in order to enhance our back support productivity and operation efficiency. E-commerce platform was also launched for our products and parts sales as customer’s new entry point in our business circle.
New challenge of our business transformation:
We must respond to the market challenges by developing our customer solutions and we need to reshape our competitive landscape by the right products and to redesign or re-engineer solutions by our human resources with new mindset and by reskilling.
Our business focus shall be on “CLV” : Customer Lifetime Value engagement with our sector-specific knowledge and customer relationship. Its value creation opportunities can be found in the business circularity as “Circular Operating Models”.
By offering a lower cost of ownership and life time engagement by (1) reduce “consumption”, (2) extend “product life span” and (3) increase “product utilization”, which will develop a strong partner eco-system and hopefully it will establish the PLM : “product life-cycle management” : faster, lower cost and customized.
Shift our paradigm!
Our core value is “Driven by Excellence” always focusing on our product and business quality as value. Our slogan is “Engineer the value” where we are seeking the base values as key elements : (1) financial value to sustain our business, (2) culture value to retain our staff bonding and sense of belonging and (3) public value to contribute to our local community and our business stakeholders.
Our business principles are clear but principles are not values. Values are coming from the right map which can navigate us to the right place for business. Now it is a time to change our map, this is the paradigm shift required to each of us for our right practice in the right place.
A thousand-mile journey begins with the first step, and can only be by taken one step at a time. Take your fist step with the right map by your daily goal setting.
Value Chain management :
To enhance our corporate value for the continuous business growth, the “Unity”, not just as slogan but as actual solidity or oneness of our staff to work in a good harmony sharing our common goal, is continuously required.
Under the current uncertainty and confusing world, and tougher market competition, our “focus” on growth is important with flexibility to the diversity outside and our inner power of “inclusion” needs to be established internally.
Our internal business focal points always fall on “quality” and “safety” and enhance our value for our customers with the great customer experience which is our business purpose.
Now the time to review our current habits based on our business discipline and strategy for our further growth. The growth is only the evidence of our business and life. We always strive to achieve this goal.
The “value chain management” is the key for this achievement and everyone needs to share this concept as our common goal.
We are living in this business ecosystem of value chain and need to be aware of this fundamental fact, and need to tune and adjust our behavior and habits by increasing our sales and service quality and by decreasing unnecessary wastes and losses.
Unity project :
This year we continue our “Unity project” which is a core of the value chain management and to enhance our business corporate value where there are 11 traits behind this project : 1) oneness, 2) harmony, 3) combination, 4) trust, 5) respect, 6) confidence, 7) joy, 8) peace in mind, 9) wisdom, 10) excellence and 11) victory.
I strongly believe this business direction will create more values and contribution to our community and make our staff and stakeholders life better, and shall make the current negative impacts turn to positive by our strong leadership and ownership of the business and society.
Wishing you all in this year of 2025 turn all the obstacles we face be the way to our growth.
With my warmest regards and best wishes for you and your family healthy, successful and happy new year!
