25 November 2021
Bangchak received 4 awards at the Thailand Corporate Excellence Awards 2021; with Corporate Improvement Excellence reflecting the commitment to drive organization for being the Energy Transition Leader.
Chaiwat Kovavisarach, President and Chief Executive Officer, and executives from Bangchak Corporation Public Company Limited, received 4 awards at the Thailand Corporate Excellence Awards 2021, consisting of 2 royal awards from Her Royal Highness Princess Maha Chakri Sirindhorn, namely the Corporate Improvement Excellence and the Product/Service Excellence Award, and 2 ‘Distinguished’ awards for Leadership Excellence and Innovation Excellence, reflecting its commitment to green business innovation, and driving organizational development through management, product/service, and innovation excellence. Bangchak received the following awards,
- HRH Princess Maha Chakri Sirindhorn Corporate Improvement Excellence Award. Bangchak was the only organization to receive the award in 2021, considered as the organization with the overall performance excellence, in all dimensions throughout the year. Bangchak’s corporate resilience, including structural and policy agility, has continued to empower its positioning as the leader in energy transition and has initiated the goal to become a beyond 100-year sustainable organization, “Bangchak 100X”, enhancing the strength of all business groups, and accelerating environmentally-friendly investments, one the occasion of the company’s 38th year.
- HRH Princess Maha Chakri Sirindhorn Product/Service Excellence Award, according to the company’s message to its customers ‘Greenovative’, Bangchak uses innovation to improve product quality, care for the environment, all with the goal to provide the best-in-class products, the new line of gasohol products, S EVO FAMILY, namely Gasohol 91, 95, E85, and E20, that incorporating innovative fuel technology, receiving Asia’s first EURO5 certification, and offering the cost-effective, environmental friendly products for consumers in Thailand.
- Distinguished Award for Leadership Excellence, reflecting Bangchak executives’ foresight and dedication to organizational excellence following to the vision of “Evolving Greenovation”, that enhanced the positioning of Bangchak as the leader in Energy Transition, with the commitment to develop the sustainable innovative business in harmony with the environment and society through the 3S Strategy, namely ‘Security’ to enhance energy security through securing upstream sources, ‘Stability’ by managing its portfolio for growth and risk mitigation towards stable business returns, and ‘Sustainability’ to continually develop and expand core businesses.
- Distinguished Award for Innovation Excellence. To guide the firm toward a new S-curve, Bangchak’s corporate innovation framework is built, by the establishment of the Bangchak Initiative and Innovation Center (BiiC), a startup incubator program, and etc., to affirm our focus in research and development, leading to new business opportunities for green energy and bio-based businesses locally and abroad. The corporate fosters the creation of internal innovation and the incorporation at all levels, resulting in the creation of internal startups named Winnonie, Thailand’s first e-motorbike rental business, backed by a network of battery switching stations, reflecting how a green society could be created whereby the standard of living of members in the society could also be lifted by the utilization of green innovation.
The Thailand Corporate Excellence Awards 2021 was organized by the Thailand Management Association (TMA) and the Sasin School of Management, Chulalongkorn University to honor organizational excellence various dimensions to serve as role models for others to study and emulate. The Royal Awards were presented in front of royal portrait, and the Distinguished Awards were presented by PM Prayut Chan-o-cha at The Athenee Hotel, a Luxury Collection Hotel.
Moreover, the awards come from an assessment of the opinions of top executives from Thailand’s top 1,0000 companies. Participants responded to the survey assessment online to select the winner of each category. The Royal Award presented to organization with the highest scores from the assessment, and the Distinguished Awards presented to organizations who are significant others.