Tuesday, January 22, 2008

Building an Organized Process for Strategy Communication

In the New Economy, strategy is executed from the ranks. Employees interact with customers and peers; senior executives do not. No longer the exclusive domain of the CEO, strategy is literally everyone’s job.

As Dick Clark, CEO of Merck, once said, “Culture eats strategy for lunch.” Yet despite the ample evidence of employees’ pivotal role in strategy execution, 95% of workers typically do not understand their organization’s strategy. Employees are not informed about it, do not know their relation to it, and are not incented to find out. Many executives treat their strategy with the same secrecy accorded the formula for Coca-Cola. They fear that by revealing it to their employees, they will also be revealing it to their competitors.

However, we are seeing signs of a new openness about strategy. In a March 2006 Balanced Scorecard Collaborative survey of 143 performance management professionals, we found that 73% of the companies that were outperforming their peers had a formal process for communicating strategy to their employees. Among the underperformers, only 28% had such a process.

Through our research of successful organizations, we have learned that understanding the strategy is a prerequisite to executing the strategy. Employees cannot make proper judgments when interacting with customers, partners, and peers unless they understand the strategy and their role within it. Creating this understanding is not easy. Strategy is a complex subject that touches every facet of a business, from finance to products, customers to technology. For large companies with thousands of employees, the effort is complicated by diverse backgrounds and values.

Educating your workforce about the strategy, as well as your progress in achieving it, takes more than a brochure, pep talk, or report. It requires a comprehensive approach that makes strategy the central agenda around which all internal communication is organized. The employee Strategic Communication (which we call “Stratcomm”) program must be as comprehensive and systematic as an external marketing communications program that’s intended to convert prospects into customers. It’s a call to action for the organization, designed to align behavior with the strategy.

(From: 1.David P. Norton, Chairman and Cofounder, Balanced Scorecard Collaborative, and President, Palladium Group, Inc., and James Coffey, Manager, Palladium Group, Inc.
2.This article excerpt was featured in the May-June 2007 Balanced Scorecard Report)

Sunday, January 20, 2008

Actual Examples of Key Performance Indicators

This is a continuation of our KPIs series. The article will show you some real examples of companies that use KPIs to measure their success. You may like to compare their KPIs to your current KPIs. If we base our KPIs model along with the approach of Kaplan and Norton, our KPIs will reflect both financial and non-financial perspectives of the business.

The key performance indicators or indexes used to measure the success from the financial perspective usually consist of figures such as operating revenues, sales growth, inventory turnover, percentage increase in sales compared to percentage increase in expenses, return on investment, etc.

For non-financial perspective, the indexes consist of:
(1) Customer Perspective : buying frequency, number of customer complaint, monetary value of each business transaction, customer satisfaction index, size of each transaction, etc.
(2) Internal Business Process Perspective : ratio of job standard that has been developed, number of goods sold per goods return, delivery lead time, ratio of cost reduction of existing production process, inventory turnover, etc.
(3) Learning & Growth Perspective : employees satisfaction survey, percentage of employee turnover, percentage of employee who possess strategic skill, percentage of new innovation, comparison between the system and the plan, percentage of the person’s increasing proficiency in the job, etc.

These are some examples of KPIs proposed by Kaplan and Norton, where I often rely on when developing the KPIs for our local business. Next is an example of KPIs used in automobile and part manufacturing company that I served as a consultant to develop the “KPIs Development Model”. The example should give you some ideas that you can further apply to your business. These are also four strategic objectives that cover four perspectives. 1) Financial 2) Customer 3) Internal business process and 4) Learning & Growth perspective. Each perspective uses the following indexes to measure its success.

1) Financial Perspective : sales volume, production volume, operating budget, ROI, ROA, ROE, revenue generated from new product, production cost, profitability ratio.
2) Customer Perspective number of existing customer, new customer, customer satisfaction, market share.
3) Internal business process : production capacity, cost reduction, on time delivery, valued-added engineering /value of quality control system & design.
4) Learning & growth perspective : contribution fo each unit towards new innovation, innovation HR management, personnel development in each unit, employee satisfaction.

The above two examples should give you a very clear picture of using the KPIs in real business. Be careful however when you are applying the KPIs to your company : the indexes can be similar or different even when being applied to the same business. Success however depends on the correctness of preparing the KPIs Development Model, the analysis of Key Result Areas, which must be analyzed from the scope of the job of each unit or department. So, we may find that some Key Result Areas are still missing from the KPIs, which means that that unit might be omitting some important areas.

Once these indexes have been in place, each unit needs to live it up by further processing the KPIs, which are :
1. Measure and keep track of the percentage, number, ratio, or the amount of time as required by the indexes for every key result areas. These indexes themselves are tested from time to time and be continually improved until they serve as an appropriate indexes. They also lead to strategy preparation and improvement that covers all the key areas. The point to emphasize is a continued improvement of KPIs because they are not perfect numbers or percentages that become valuable within three months. On the contrary, the value of KPIs is it is a tool to achieve the successful preparation of strategy for the whole team.
2. KPIs leads to organization transformation. Because KPIs is a tool, which business can used to measure the success of strategic objective, when the strategy fails to translate into result (as we know that by comparing them to the KPIs), business operator can’t avoid to design their organization so that it meets the strategic objective.

The real danger of KPIs is that business executive, consultant, or KPIs developer is lack a real understanding of KPIs, the KPIs development model, or inexperience in implementation, including using the KPIs as a catalyst for organization transformation. The degree of success depends on the right model-tool-resources and the right advice.

Dr.Danai Thieanphut
Managing Director
DNTConsultants Co.,Ltd.

Wednesday, January 16, 2008

A Successful Implementation of Key Performance Indicators

To start any new business management program or strategic management program after self-learning, right after finish class, or even after receiving a nice advice of counseling company, generally the first problem is where are how to start.

To implement of the KPIs to your business, the problems is the same. It is a problem of where and how. To accommodate this problem, I had developed the KPIs Development Model, which I provide the step-by-step explanation on how to implement the KPIs to business. But before that, may I explain how the model had been derived and what did kind of business already apply this model?

During the early development phase when I tried to adapt the Balance Scorecards to the KPIs, I thought that there should be a model to aid the implementation of KPIs to our local business, and the validity of that model should be tested, probably through some action researches, against this hypothesis.

1) The framework of the KPIs is universal to all business or must be tailor to the business.
2) Is the KPIs is fit all businesses or only some business?
3) What model or format should be used to make executive and personnel from all level to understand and actually implement the KPIs in their organization?
4) How to develop a process or follow-up method that be truly benefits to business and indicates the achievement of the goal set at the beginning?
5) During the normal strategy planning session, the KPIs will be included in these process and so that all units can practice and gain more knowledge about it.

After the model had been tested against to the hypothesis, another problem is to figure out how long it would take to see the success of the KPIs because
1) During the KPIs implementation process, there will certainly be many threat,adjustment, including the change of indicating factors from time to time.
2) What tools of supporting factors are required for the continuation of the KPIs? And how can these factors be developed into a format or standard form?
3) If we are to achieve the successful corporate transformation using the KPIsas a catalyst, which period or step during the KPIs development should we begin with? If there are resist to change, how we can manage and turn them into cooperation using the appropriate strategy or incentive.

After taken into account all these points, I started to apply the KPIs development model to many businesses. The result was satisfactory: the model was applicable to many types of businesses whether multinational or local company, from industry ranging from FMCG to services, insurance, telecommunications and e-Business. Thereafter, I wrote a book about the KPIs-Road Map, giving examples and methods. Recently I’ve tried to take a step further by improvising the standardized measurement indexes, which will be included in the second publication (now in progress).

In summary, the KPIs development model that I have developed is based on many extensive actual action researches. Therefore, the model is eligible to be applied to your business immediately.
The KPIs Development Model consists of four major steps:
1) Perform a strategy review session on which business operator will test the materiality execute of existing strategy, the embedded importance of the strategy, and the profitability in terms of customer, product & services, to know how to adjust the strategy during the actual strategy work-out.
2) Implementing the KPIs involves an analysis of Key Result Areas (KRAs) of every business unit or department. These Key Result Areas will become the goal that the unit or department must attempt to achieve. Then the master draft of KPIs is created along these key result areas and tried out.
3) Testing is done during the actual implementation and the KPIs development model will receive a find tuning here. So often that during this step, the company is required to change the way the task is carried out. A new strategy may be necessary so that the preferred results of those KRAs are in line with those set by the KPIs.
4) Become the KPIs-led organization.

The key to successfully implemented the KPIs lies in the development of the KPIs development model according to the above four steps. The early participation of high ranking executive increases the chance of success. Once you start preparing a rough draft of KPIs development model for your organization, you will find that success is just the other side of a coin. So, let’s start doing. The KPIs is ready to help you measure your success.

Dr.Danai Thieanphut
Managing Director
DNTConsultants Co.,Ltd.

Sunday, January 13, 2008

Dr.Danai Talks on Key Performance Indicators

A lot of people agree that the collapse of the Thai economy has provided some valuable lessons of business and industry. Business failures have prompted the question of what is the most efficient way to measure businesses performances. After all, measuring by means of the financial approach may not be good enough. A good example is the closure of several banks and financial institutes, contrary to the general perception that they are of a good financial standard.

Danai Thieanphut, the managing director of DNT Consultants Co.,Ltd., also considered the very same question and that prompted him to develop the use of Key Performance Indicators (KPIs).

The Concept : “The KPIs concept is based on Kaplan and Norton’s book “The Balanced Scorecard’” Danai said. According to Kaplan and Norton, traditional indicators focus mainly on financial performance, which, they argued, only reflects a company’s past performance. However, it is also appropriate to judge long-term investment and customer relation, which are not considered to be serious factors for future success under the more traditional financial assessment method. In this age of technology, businesses need to create a value-added situation in the future by exploiting the returns in terms of their customers, business partners, human resources, business process, technology and innovation investment.

The Objective : “The objectives of KPIs can be derived from the following questions. Firstly, what are key driven factors for the organization’s success? Secondly, what are key strategies to accomplish the organization’s tasks? Thirdly, are there any gaps that need to be narrowed down to facilitate the organization’s success? Finally, what are key success factors, in the eyes of the shareholders’ that will maximize their return on investment”.

The Indicators : In addition to the financial perspective, the factors businesses should bring into consideration when measuring their performances are customer satisfaction, the internal business process, and learning and growth. Under the concept of KPIs, these four factors will truly reflect how good the business has performed. The financial perspective is a commonly-used indicator. It focuses on the organization’s profitability, return on investment, return on capital and employees, sales growth and cash flow management. In terms of customers, businesses consider customer satisfaction, customer relations, new customers and market share. The measurement for the internal business process focuses on two main areas: innovation, eg product design and development; and operational processes including production, marketing and after sales services. The learning and growth perspective is to measure the organization structure for long-term growth which depends upon human resources, systems and processes in the organization.

Vision, Mission and Strategy : Vision development and strategic planning are the first step towards the organization’s success. “The successful organization must have clear vision and mission, “Danai emphasized, adding: “which will be a good platform for objective development. With a good strategic objective, the organization can transform them into realistic goals and practical action”.

Before developing KPIs the organization needs to define Key Results Areas (KRA) to consider whether the mission of each business unit is in line with the organization’s vision, mission and strategy. The establishment of KPIs for Key Job Area (KJA) and Key Result Area (KRA) will provide a clearer picture of each business unit’s performance.

“Normally, businesses look at the big picture” Danai said, adding “that is not enough. In my opinion, it should look into the detail. A high performance organization needs to also have key job areas that match the organization’s concept. “However: he cautioned that too many strategies will do no good either. “Today, strategy is more like a fashion. Most management fail to consider this as significant because they do not fully understand whether such strategy is a mean for their organization’s success”.

A good strategic objective should also bridge businesses and their supporting units together. So, we may need to establish separate KPIs to evaluate the performance of these units. “As you can see KPIs provide us with a valuable tool. It works like a thermometer to check the condition of the organization’s health,” he said.

The Advantage : Another advantage of KPIs implementation is that a special task force is not required. “According to my observations, the management, especially those responsible for strategic planning are satisfied with KPIs. They help them achieve clear, easy to read and integrated strategic planning. More importantly, it is often the first time that they are able to summarize the organization’s vision, mission, strategy and key performance indicators into 1-2 pages of A4.

After implementation, the outcome can be known within six months. However, it will only indicate the level of the organization’s performance, which will vary depending on the division, business and industry. It could be compared to a sprinter, Danai said. If he aims to break a world record, he should develop his performance using the world record as a benchmark. He may have to go through long grueling sessions until his performance reaches that level. “That applies to the implementation of KPIs. If the result is poor, the organization should look back, find out whether there are any defects and try to improve their performance until it reached a satisfactory level.

The Success : With continuous development, Danai believes, an organization with a clear vision and strategy will eventually succeed. “The achievement, however, will depend on the organization’s human resources not on KPIs,” he noted; “KPIs serve only as a yardstick, while the human resources are the driving force that will lead to the organization’s success.”

Dr.Danai Thieanphut
Managing Director
DNTConsultants Co.,Ltd.

Monday, January 7, 2008

Key Performance Indicators:Past and Present

Over the past 4 years, all businesses in thailand have gradually realized that they need something to tell them how successful their businesses are. Are their businesses comparable to other world class organizations?

Western businesses are lucky to have two prominent thinkers, Kaplan and Norton, who, in 1996, proposed a way to measure the business success. They proposed the famous Balanced Scorecard method to measure the strategic success of business (in fact, the Balanced Scorecard method had been disseminated in Harvard Business Review during 1990-1992). The latest version of the book titled ‘Strategy-Focused Organization’ will be on shelf around this September. In the last article, I presented some thinking and theories about measuring the business success, to assist in creating a vision and preparing business strategy with the method called Strategic Management with BSC and Key Performance Indicators (KPIs).

I would like to present the KPIs method to you because of my involvement in many studies of various organizations and seminars during the recent years, in many public programs and company’s specific programs, there are several issues that are important to business and its various units. Essentially, I found that :
- Modern businesses need a tool to measure the degree of their success. They need a measurement tool that is tangible, solid, and precise.
- They need to link the KPIs to the actual performance. Simply speaking they need to expand from merely making an individual performance measurement up to scale, to measure the business success as a whole, and link what they find to specify the compensation system such as the annual salary adjustment and the bonus.
- The heart to this is how to make the KPIs work for the entire organization.
- It is glad to know that several business re-processing tools such as TQM, or all versions of ISO apply KPIs as a measurement of success.
- An increasing number of institutions, private and public, are contemplating with an idea of applying the KPIs to their business.

The most common question about KPIs is what actually is KPIs? I’d like to put it this way. KPIs is a key performance indicator. KPIs is a strategic management system or the system that controls the strategy. KPIs will translate mission and strategy into a set of measurements within a specific frame to achievement. Measurement of success is generally based on 4 perspectives: Financial perspective, Customer perspective, Operational perspective, and Learning and Growth perspective. I’ve made an easier summary that “KPIs is a tool to tell the health of business, whether the business is healthy and successful or requires some improvements in different areas. KPIs works like a thermometer”. Certainly, many executive would have questioned the necessity of it. The answer is it is necessary. It is compulsory. We usually pay attention to figures, the financial aspect to business. Unfortunately, figures like return on investment, current asset ratio, cash flow, account receivable, etc. can only give a retrospective view of the business. According to the KPIs, by looking at these figures, business is essentially looking back in the past, looking at its past success or failure. KPIs lends itself more to the future-looking as it attempts to measure success in a broader perspective.

We know that a vision from top executive often fails to become a reality. Why? A vision is normally communicated down the line, onto the Strategic Business Units (SBUs), who then create strategy that will make that vision a reality. But it often turns out that the strategy created by those business units failed. These strategies just don’t work. What is the problem? The answer is the middle level management or the strategic business unit executives do what is not written in the strategy. In other word, they don’t want to do what they’ve written in their strategy. They are forced to create for them to carry out the strategy successfully. Simply speaking, there is no clear and tangible strategy. The remuneration system just doesn’t inspire the executives to stick to the business strategy.

Another problem is the balance of strategy. Is a state of balance in exist strategy in an organization? This is probably an area of strategic management that we receive a minimum understanding from the executive’s viewpoint, or perhaps not at all. And it is, most executives have no understanding in the relationship between the causes and effects of a strategy, not to mention the balance of strategy concept.

Textbooks about strategy during the period before the end of the 20th century explain very little about what factors help to balance the strategy or what relationship exists between the cause and the effect of a strategy.

At this point, KPIs comes in, to manage the relationships among various measurement perspectives. The measurement on these perspectives will be carried out in a balanced way, including the balanced strategic objectives of both strategic business units and various supporting units. I have linked the KPIs principle and the actual business operations by summarizing it into a model called the “BSC & KPIs Development Model”, which consists of 4 major steps:
(1) Strategic Review (2) Fast Track to KPIs Development (3) Process Reengineering (4) Towards and Achievement.

The BSC & KPIs Development Model will assist management and helps them to understand the answer to their questions. The model seeks to clarify problems inherited in vision visualization; it helps to clarify the strategy too. You can email me at drdanait@gmail.com or you may wait for a book of Key Performance Indicators, second publishing, which will present many new theories and ideas about e-Strategy KPIs.

KPIs is a jigsaw that completes the missing picture of business when it attempts to compete with other world class competitors; when business is entering the electronics operation, especially during the transitional period of change in management. The objective is to prepare the business or the organization to become a leading corporation, ready for the battle taking place in the Cyberspace field.

Dr.Danai Thieanphut
Managing Director
DNTConsultants Co.,Ltd.

Sunday, January 6, 2008

New Strategic Management : New Approach

Traditional, strategic management processes are making way for new, strategic methodology that is more inline with contemporary management practice.

A new class of company is arising in the world today, a group of emerging challengers that are becoming important players in both developing and developed markets around the globe. The advent of the internet and communication has already redefined business across the world.

The 1990s were an epoch-making decade –one that not only closed down a millennium, but also brought into vogue a new technology considered by many to be revolutionary in human history. The workplace and working lives of people have been radically transformed by the internet and also by other net-centric innovations that came in sequel.

As the desktop gateway to the world, the internet changed the very concept of work and business. It became a catalyst for new business models, competitive strategies, and organizational restructuring. The internet brought to the surface a new business landscape, new pressures and new rivalries.

Companies based in rapidly developing economies such as Brazil, China, India and Russia have to cope up with more new pressures and new rivalries. These economies yearned to expand overseas armed with ambitious leaders, low costs appealing products and services and modern facilities. The dramatic surge in low-cost communication technologies, internet and economic reforms has spurred the trend.

The Indian market itself has been a strong enabler for the creation and growth of globally ambitious companies. The rapid growth of the economy has meant that domestic companies have an opportunity to become quite large on the home turf that is achieved, the focus shifts to the foreign markets for new challenges and opportunities.

Tata Steel, Aditya Birla Group and ONCG Videsh are a few examples of Indian companies that are going global after gaining a strong foothold in the domestic arena. Not content with a small pie, Indian companies have also started assuming leadership positions in lucrative developed markets. Many have established beachheads in other rapidly developing economies.

Bharat Forge is now the world’s second largest forgoing company. Ranbaxy Pharmaceutical is among the top ten generic pharmaceutical players in the world. Wipro has become the world’s largest third party engineering services Company.

Incidentally, Indian firms can also access significantly more capital than in the past. The increase of foreign direct investment (FDI) inflow by 151% in the year’ 06-07 over the last year, reiterates the growing rate of return on investments offered by Indian economy. A number of companies are underleveraged and can therefore borrow sizable amounts of cash, which can be deployed for acquisitions.

Much of the focus is on acquisition, globalization is largely being driven by organic growth either by exporting from India or by establishing international operations, in some cases through joint ventures.

Indian companies are also showing an equal preference towards the low risk approach of setting up marketing or distribution operations along with the relatively higher risk approach of acquisition or joint ventures with competitors, suppliers or distributors. In addition companies such as Bharat Forge have used merger and acquisition (M&A) activities to obtain immediate access to vital technologies.

The new competencies and expanding business ties have brought enormous advantages to the business world there is a flip side to the story. In the highly volatile, electronically networked global business environment where any form of long term stability is the exception to the rule, traditional strategic management processes are being questioned.

Clearly emergent technologies are not only impacting on the business environment of modern day public and private sector business institutions, they are in effect changing the very way that things are done within and outside the organization.

Technology has also brought to the core as variety of cross cultural management relates issues. The extreme volatility of the business environment confronting most enterprises has brought many challenges. Companies can no longer insulate themselves under subsidies or shy away from competition – which is set to be international in nature.—

Ref: from http://www.citeman.com/new-strategic-methodology

Saturday, January 5, 2008

Intellectual Flaw of the Business Graduate School

Research and development is of vital significance to the development of national competitiveness. R&D activities in both business and educational system are fueling growth in all areas. Surprisingly although academic institutions in Bangkok and upcountry race to provide new curriculums for the new intakes, mushrooming just like the number of job vacancies, companies find it more difficult than ever to find appropriate recruit.

From my experience in assisting several clients on personnel recruitment, I found many support evidences that pointed to poorer quality of the applicants. I appreciate to know that many efforts have now been spent to transform the educational system, all under a close supervision of the “Office of Education Transformation”.

Over the past many years, I have been providing counselling to many local and multinational businesses on the creation and development of performance measurement tool or the strategic measurement system, which is a management idea based on the Balanced Scorecard. In Thailand, I have conducted many action researches on the subject and developed what I called the KPIs or Key Performance Indicators. After four years of actual business application, I wrote a book and it sold out. The book is still in high demand because the KPIs offers a useful tool that allows management to achieve a real and tangible performance measurement system. It also assists many businesses to compete in a higher league that they have never thought of before.

Coincidentally, I came across an academic article, which was a research study of some MBA students from the Faculty of Commerce and Accounting, Chulalongkorn University, under the topic of “Organizational measurement system” (from MBA, magazine, vol.19, 2000 p.25-29). The article reports that the performance measurement tool will
- provide management multiple aspects of the business operations all at the same time,
- prevent management from an information overload by limiting the information to the prespecified measurement criterion,
- allow management to see the effect of unbalanced emphasis on any single aspect of business operations,- allow management to integrate several measurement criterions and lead to continuous organizational development.

The article also mentioned the limitations of the Balanced Scorecard or KPIs that
- It is only suitable to large-scale business organization that already hasefficient management system in place because this system requires a completed and suitable set of measurement indicators from every aspect of business operations,
- It takes considerable amount of time and expenses to identify and set up the measurement indicators, which might outweigh the expected benefits, especially when business lacks an effective planning on the measurement indicators,
- For some businesses, limiting the Balanced Scorecard to only five perspectives (customer, process, learning & growth. Finance, social and environment) may not provide an adequate performance measurement system to the business operations. Some other perspectives may be required.

I have several points to address about the above research findings.
(1) Knowledge of the researcher, the counsellor, and the group of business samples greatly affects the validity of the research findings. The degree of accuracy of the above research findings depends on the comprehension of the idea, principle, and implementation of the KPIs (KPIs and BSC have the same meaning).
(2) Many points in this research findings are applicable to some of the business conditions in Thailand although some of the above limitations seem inappropriate, perhaps because of an inadequate information or a misunderstanding as mentioned in number (1).
(3) Sometime the quality of the post graduate research is similar to the “Baby Thesis” which is far from adequate to create any body of knowledge. However there are great number of post graduate researches that are very valuable.

Consequently, one has to recognise these points when reading, studying, and applying any research findings, at the same time to exercising one’s consideration & Judgement. A knowledge of the principle or theory behind the subject is necessary. The research methodology must also be highly reliable and be accurately carries out. The truth is the real business world is more cruel than any classroom environment. There is no way that educational institution could match the idea or new theory that are taking place in the market. This is especially true for Thailand.

I had a chance to apply KPIs/BSC ot many SMEs businesses, which are characteristic operations. These businesses are not large organization. And the sample group of more than 300 independent SMEs who participated in the test is large enough to represent the universe. All of them are in the distribution business and owned by Thai. After the test, I further developed the KPIs into a universal model that can be applied to business of all type and size. This is in contradiction to the limitation as reported in the above research.

I would like to remind the executive on the following points.
• Every business has the strategy especially the big ones like the bank, finance, telecommunications, construction, large manufacturing company, why then these businesses don’t survive?
• Regarding the business strategic tools or processes such as TQM, every version of ISO, MRP II, ERP etc., are there any business that succeed after a shot period of implementation?
• Why the training on leadership, EQ teamwork, or WALK RALLY that create good habits to the trainees do not work outside the training room? For all the pros and cons are there, which probably could be answered by the research that no one has ever taken or care to do at all.
• There is no limit as to the number of business aspects to be measured by the KPIs or BSC model. Instead, Kaplan and Norton suggested that the measurement should be in balance, that is, measurement should include both financial and non-financial perspectives.

All these answer why the right candidate is harder to find. Moreover, our lack of research & development that is adequate to create a new body of knowledge would undoubtedly affect our long-term competitiveness. With such a constraint, how could we possible compete in the intellectual war of the 21st century.

Dr.Danai Thieanphut
Managing Director
DNT Consultants Co.,Ltd.