Thanasiri

TIME MACHINE STRATEGY

HOW USING INSIGHTS FROM JAPANTURNED A STRUGGLING PROJECT EXTREMELY SUCCESSFUL

Thanasiri Group is a publicly-traded developer specializing in developing detached, semi-detached, and townhouse projects in Nonthaburi, Thailand.

Mr. Sutthirak Sateanraphapayut

Managing Director of Thanasiri Group PLC

What was the situation in the company before you decided to ask LiB Consulting to conduct strategic planning and change work processes?

We had a project with a positioning that we thought was clear and consistent with the company’s overall strategy. Also, this project was in close proximity to a previous project, so we thought that there would be no problems. However, the number of walk-in customers and contracts were very low. We were able to sell only about a unit per month for the first year. At the time, a new metro line was just finished, and the number of competitors in the area was increasing,

Why did you decide to ask for help from a consulting company?

Actually, I have never thought nor wanted to use a consulting company. Our company had never used one before; usually, we will think of how to solve the problems ourselves.

In that case, how come you decided to choose LiB Consulting?

Well, LiB Consulting is a Japanese consulting company specializing in the real estate and housing industry, having conducted many projects for huge property developers in Japan. Since the Japanese housing and real estate industry has already passed the mature phase and entered the declining phase, LiB Consulting has a lot of know-how on how to adjust to changing environments and succeed in different times. This is extremely valuable because the Thai market will face similar obstacles, such as increased competition and oversupply, in the near future.

The project turned out to be very successful; however, at the start of the project, LiB Consulting did not have a lot of consulting cases in Thailand. Did you worry that LiB Consulting’s know-how might not be effective in the country?

I think that LiB Consulting has the know-how that Thai companies, maybe even the big companies, are still unable to do.

No, I had no worries at all.

Of course, the lifestyles of the people from Thailand and Japan and the way they make decisions are different. But I think that the framework for thinking and work process are applicable. LiB Consulting has a very structured way of thinking, based on logic and data, yet very practical and detailed. LiB Consulting has adjusted their know-how to match Thailand and our company really well. I think that LiB Consulting has the know-how that Thai companies, maybe even the big companies, are still unable to do. I had full confidence on the company and their staff’s capabilities.

After having worked together with our team in LiB Consulting, how do you feel about the way we conduct consulting projects?

Well, we have never used other consulting firms before, but from what I experienced, LiB Consulting’s main difference from other companies is that in addition to conducting research and planning the strategy, LiB Consulting led us when we had to roll out the plan. You helped us execute the strategy by also diving into the details in the operation level, and in the employee development and organizational culture aspects as well. This created a continuous change in our company; employees were more proactive and initiated than before and were all working together continuously to execute the newly-formed strategy.

I think that the full support from strategic creation to execution and organizational change is LiB Consulting’s ultimate value for their customers. This is where LiB Consulting is superior to other normal consulting companies; although other companies may have great know-how as well, LiB Consulting can actually incorporate it into the working process and culture of the organization.

You briefly mentioned organizational change. How did you feel the employees and organization as a whole have changed?

The whole organization changed from regular employees to executives across all departments. When we felt the success from the new strategy and work process, employees became more confident and started communicating it to others around them. As a result, everyone in all levels of the company are able to work together confidently across departments towards the same direction. This is due to LiB Consulting’s impeccable strategic planning, operation improvement, and change management know-how.

Lastly, what do you think is the best benefit of working with LiB Consulting?

The best benefit, even better than increased sales and profits, is the clear and systematic work process that we can continue to use in the future. For example, the process of using quantitative data analysis to create a marketing strategy, then using qualitative data, such as interviews, to cross-check, is extremely effective, and is unprecedented in the Thai real estate and housing industry,