“Resilient and Dynamic” Bangchak: Entering Its Fifth Decade with Strength and Sustainable Growth
This Executive Talk was honored by
Ms. Narupan Suthamkasem
Senior Executive Vice President, Corporate Strategy and Business Development
This Executive Talk was honored by Narupan Suthamkasem, Senior Executive Vice President, Corporate Strategy and Business Development
Entering its fifth decade in 2024 is not only a milestone of success for Bangchak Corporation Public Company Limited, but also a reflection of its resilience and growth - evolving from a small oil refinery into a leading energy corporation in the Asia-Pacific region. This Executive Talk invites you to explore the vision and key strategies for success of the Strategic and New Business Development Group at Bangchak Corporation, driven by the leadership of Khun Narupan.
- Could you please share with us what Bangchak Corporation's strategy is and how it promotes and drives Bangchak Group's growth?
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“4S” strategy is a vital mechanism driving Bangchak’s growth. The strategy focuses on creating energy Security, fostering collaborative Synergy, developing sustainable businesses (Sustainability), and seeking new growth opportunities (Scalability).
It begins with environmental scanning to assess trends and opportunities that may impact the business or create new avenues for the organisation. The gathered data is shared with business groups to formulate strategic plans aimed at navigating global changes while aligning with their specific goals and Bangchak Group’s overarching ambition. These individual plans are subsequently combined into a comprehensive corporate plan encompassing all five business groups, while maintaining the flexibility to adapt to evolving circumstances.
- In your view, what are Bangchak's key strengths that have propelled it to become a leading energy company in the region?
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I believe Communication and Participation are keys to Bangchak’s success. Bangchak is an organisation that prioritises teamwork and shared goals. The company not only develops business strategies but also systematically integrates sustainability through its Growth Balanced Portfolio Strategy, which balances business growth and sustainability initiatives. To ensure the entire organisation shares the same vision and moves towards the same goal, each business group sets its own carbon neutrality targets, with the flexibility to determine how to achieve those goals through synergy. This approach reflects Bangchak’s commitment to balancing value and virtue while advancing towards a sustainable, low-carbon society.
In the rapidly changing business environment, it is crucial to anticipate situations in advance to prepare defensive strategies or identify opportunities to “Plan Ahead to Stay Ahead.” Additionally, the ability to adapt swiftly upon recognising mistakes is essential. This adaptability is one of Bangchak's key strengths, driven by the readiness of its executives and employees to respond quickly.
- A final question: how do you envision Bangchak Corporation 10 years from now?
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Bangchak aims to grow into a strong, diversified company with core businesses extending beyond the domestic market. The acquisition of BSRC, formerly Esso Thailand, was a pivotal first step in the Security and Synergy strategy, already delivering significant growth. Bangchak’s commitment to exploring and driving new S-curve businesses under the Bangchak100x target has diversified revenue streams, propelling EBITDA to 100 billion baht and total revenue to over one trillion baht across five robust core business groups. Today, Bangchak continues to demonstrate sustained growth and a solid foundation, earning recognition for its organisational management and adherence to world-class standards in multiple areas. At the heart of this success are Bangchak’s employees, who grow alongside the company and help drive it towards achieving 100x Happiness.
Bangchak’s journey from a small refinery to a globally recognised energy corporation is a testament to its adaptability and commitment to sustainability. The company’s success comes not from its size but from strong strategy, collaborative teamwork, and flexibility to adapt to change. In an era filled with new business challenges and opportunities, Bangchak is poised to enter its fifth decade with stability, powered by its “4S” strategic plan, focused on creating security, fostering cooperation, and driving sustainable growth.
Ms. Narupan Suthamkasem
Senior Executive Vice President, Corporate Strategy and Business Development