Increased minimum wage of Thai labor
Increased minimum wage of Thai labor
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Issue Date
2012
Authors
Thanathiprat, Natthaporn
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Abstract
People need to realize their responsibility in the company and see themselves as an important part of the organization. Udomchai will treat people fairly and try its best to protect their wellbeing. We need to help them grow and succeed in their job responsibility. Engagement programs and training programs are important to their growth and they can use that knowledge to help build the company's success. High investment is only a long term investment that would benefit the company later on, therefore, by installing RFID and machines would give as competitive advantages over competitors. If we can produce at a higher level, it means we can produce cheaper in term of cost per unit. If we have low cost of unit, we can sell at the same price. Since most of medium businesses are struggling on the labor cost, the possibility that the prices of our competitors will increased is likely high. We can use this opportunity to take the market segment from them.
We believe that this combined strategy would give us an opportunity to serve our customers and most importantly, is the responsible action for our people. Udomchai considers this issue to be one of our lessons in becoming better company, as we are hoping to be more productive and more responsible we can take this issue to educate ourselves.
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Business administration