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- Category: อสังหาริมทรัพย์ฯ
- Published: Saturday, 19 September 2015 16:50
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JARKEN brings on business model guru Consulus to help penetrate provincial markets and ASEAN countries, increase brand awareness
JAKEN Co. Ltd.'s expanding design business has received positive customer feedback, resulting in 2014 revenue growing to 425 million baht. Now it brings on Singapore-based Consulus to strengthen its Thai business in the latter half of 2015. JARKEN hopes to boost brand recognition to achieve greater market shares in other Thai provinces as well as AEC countries. It targets 5% sales growth within 3-5 years from 2015, which has a target revenue of 480 million baht.
Dr. Kuldej Sinthawanarong, Managing Director of JARKEN group of companies, spoke on the overall picture of the consultancy and design market in Thailand. He said, “The combined market value of consulting, project management and design in Thailand, for both public and private sectors, is an estimated 60 billion baht (with private companies making up 15%). Of this market value, project management consulting makes up 10% and grows every year according to GDP, along with the number of projects per year.
“Towards the end of 2014, the company committed to becoming a multi-disciplinary design firm. This meant providing architectural design, interior architecture, furnishings, construction, graphic design, brand development, and furniture and fashion products. These services and products have been well-received by both retail and commercial clients. We try to meet every aspect of business development to create a cohesive vision for the final product. This reduces mistakes over the course of the project, as well as the time to completion. You could call it meeting 360 degrees of customer specifications and the lifestyles of modern society. This mindset allowed us to achieve last year's sales growth to a total of 425 million baht.
“Nevertheless, in Q1 of FY2015, the company has expanded its consulting business and developed the organization using the concept of 'Design Thinking', building on a business model by Singapore-based Consulus. The business model has been adapted to the business culture and practices of Thailand. It requires a study of our organization's management and operations, as well as solving internal problems to reform and enhance the management structure and operation of our company. This will give the company the strength to move towards its objectives and grow from the inside out. In turn, we will maximize performance for sustainable development.”
Dr. Kuldej also spoke on the origins of this collaboration. He explained, “Fundamentally, this concept came from the perspective of both organizations, which saw the value and significance of pushing and developing Thai business to grow on the global stage in a way that is robust and sustainable. 'Design Thinking' can be used for business management, because we believe that successful businesses have sound business plans, vision, and staff, and fair and equal communications/public relations,as well as moves forward in the same direction. We aim to foster strong companies that contribute to the whole of the Thai business landscape.
“As for JARKEN, which started 12 years ago as a design firm, the one quality that sets us apart is that we always think like marketers and we've never seen our services as purely aesthetic.
We consider the sustainable growth of our business.”
In terms of company procedure, there has been a push for an in-depth study of client businesses. This research will help to tailor business model proposals to the benefit of client businesses. New, appropriate business models can improve the company's services in terms performance and capacity, or its production to be comprehensive and appropriate to the target demographic. These types of company reforms can also lead to cutting unnecessary or redundant procedures and reducing expenses. At the same time, it can increase opportunities and growth for new company businesses and clarify marketing activities and the company's vision to consumers and partners.
‘Design Thinking’ is not just consulting or management development, but extends to all aspects of an organization. It can have holistic effects on finance management, personnel management, communications, public relations, marketing (eg. of graphic design, marketing activities) and so forth. This distinguishes 'Design Thinking' from other marketing consultations.
Dr. Kuldej added, “Because these are new businesses, I project their main revenue will expand 5% over the next 3-5 years. On the other hand, the company believes that clients that use our services will reap many more benefits. An estimated 80% of clients are real estate businesses, while the remaining 20% are retail and commercial businesses. Client businesses are comprised of five group, namely:
1.Construction
2.Real estate and property management
3.Banking
4.Manufacturing
5.Hospitality and tourism
Generally, these businesses have a high risk of internal problems, whether it be the sheer variety of operating systems, differences between personnel, or potential of the services or production for the purpose of achieving their targets.
In the latter half of 2015, as part of JARKEN's plans for market share growth in neighboring countries ahead of the ASEAN Economic Community (AEC), the company will join in “Myanmar Build and Decor 2015,” organized for the aforementioned businesses to network with the real estate sector, specifically hotels, resorts, and residential buildings. The event will be held this October 2015.
This 2015, the company set a revenue target of 480 million baht, or a growth 15% from 2014.
