Spotting Opportunities In The Future Amid The Crisis: Thai Opinion

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STREET WISE

Spotting opportunities in the future amid the crisis

Achara Deboonme

The Nation

After a crisis erupts, when most people are in despair, some are talking about opportunities.

After the 1997 financial crisis, many white-collar workers lost their high-paying jobs and few were happy with that. They started up businesses. Their businesses generated smaller incomes, but greater work flexibility that their former jobs couldn't offer.

It's not yet forgotten that former property developer Siriwat Voravetvuthikun turned himself into the owner of a successful sandwich chain. Now, his sandwiches are still sold at major office buildings.

Just as the ozone layer is getting thinner and causing widespread skin cancer, researchers recently discovered a new fibre that can filter out dangerous UV rays. As only useful rays are allowed to pass through clothing to the skin, skin doctors are hoping that the fibres will promise youthful skin for their patients.

Following the Hamburger crisis in 2008, the whole world including Thailand coughed badly. If the US economy stumbles, how many export-oriented economies would survive? But then, they survived well. The US financial crisis forced them to look for new markets that were totally ignored or considered unnecessary in the past.

PTT chief Pailin Chuchottaworn, during an interview on the sidelines of CNBC's 10th Asia Business Leaders Award in Singapore last week, said opportunities always prevail in any crisis. Honoured as the leader in talent management for his two-year stint at IRPC, when he turned the fallen integrated petrochemical empire into a successful enterprise, he said that this is applicable to everything including the flood disaster in Thailand.

Pailin should have scratched his head, as the flood disaster struck shortly after he won the race to become CEO of the country's biggest company.

The month before officially taking over the helm, he was in charge of the underwater gas pipeline leak.

But he is happy to be in charge. Now, he is guiding PTT towards relief and rehabilitation efforts. PTT is spending thriftily. The CEO believes money is not the issue here, as PTT is a state enterprise and is obligated to help the country.

More importantly, a crisis like this may not return and the company should not feel sorry afterwards that it was doing too little in the face of so much need.

"The floods completely killed our perception that Thailand is safe from disasters. Yet, the Thai economy stands a chance of being resurrected, if we learn from the crisis and seize this opportunity to design a new water management system," he said.

Yes, he was happy for Nakhon Sawan, which recently hosted a big cleaning day to mark the end of the big floods. Yet, he wondered what the people in Nakhon Sawan and policymakers learned from the crisis. Are flood data from different spots in the province available for study? How would they cope if more storms than last year hit Thailand again?

In Japan, after the tsunami, officers were on the scene collecting information on the maximum height of the waves and the most inland areas hit by the waves.

Pailin also sees the need to base the water management plan on the long-term economic direction of the Kingdom. A better irrigation system is necessary, as the agricultural sector will continue to be promoted. A better city plan is necessary if manufacturing is to be saved from this kind of disaster.

"It's useless to blame anyone for this. Nobody has the experience to deal with this, as a disaster on this scale does not occur every year. It's more important that we learn from it and cope with it," he said.

In his speech to Asian leaders gathered at the CNBC gala dinner, he said Thais are fighting on. Yes, we are fighting on. We may be agitated by some corrupt and ignorant politicians, but all - laymen and politicians - need to look forward. At least, as a poll indicated yesterday, more Thais have learned that they should care more for the environment, as it is the cause of the disaster.

After all, the disaster did not wipe Thailand from the world map and everyone needs to contribute his best to the recovery of the country.

-- The Nation 2011-11-28

Edited November 28, 2011 by Scott
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[007]

Opportunities in the future... how about a new TAT campaign: "Thailand - Venice of the East"...

[garrfeild]

Interesting Photo, Just what everyone needs after a flood, Bra's and Panties!!!!!!!!!!!!!

[SICHONSTEVE]

I know someone who is a master at spotting and making opportunities out of someones tragic misfortunes - and no he doesn't even live in Thailand but Dubai I believe!!!!.

I'm not giving any clues to his identity either as it's my secret!!.

Edited November 28, 2011 by SICHONSTEVE

[David48]

Has anyone (outside of Thailand) ever heard of the Global Financial Crisis (GFC) referred to as the Hamburger Crisis?

Eventually I found this reference ... http://www.thaiworld.org/upload/question/file_833.pdf

Thailand … I’m learning something new every day