Change is inevitable in business. As one generation gives way to another and global forces impact local business, companies and their leaders need to evolve. Perhaps the best example of generational change in Thailand is Siradej Donavanik who is is the Director of Development and Projects – Dusit International, a company his Grandmother founded 70 years ago. The company is changing under his direction and this reflects companies dealing with succession all across the globe.
In his early thirties Mr. Siradej who also goes by the name Champ, is focused on changing the culture at his family business and shaking up the sprawling company. His plans for Dusit Intenational is part of a growing trend across Asia and around the world as a new generation of leader enters large family run businesses. These millennials see business and the opportunities and threats faced by them very differently from their fathers.
“Business succession has always led to change but this generational shift seems different. Today’s new leaders want to shakeup how their companies operate and reimagine their business lines. ” says Earl Marek a Canadian-based business strategist. “Changing a company takes time, but this new generation of leader has time and capital on their side.” For his part, Mr. Siradej sees Dusit International as being a company with a very bright future. One he will undoubtedly lead into new directions.
Educated in the UK, Mr. Siradej also brings a global viewpoint to the company. If he could sum up the future he sees for Dusit International, that word would be “experiences.” For him big picture thinking is critical as is providing his customers with experiences. Changing a large company with many businesses to focus on experiences will be a large task, but one Mr. Siradej seems ready for.