Page 45 - FoodFocusThailand No.207 JUNE 2023

SPECIAL FOCUS

water pollution, and sustainable on different business strategies regardless of potential failure or success. To sharpen
agricultural practices. Similarly, their competitive edge and enter new markets, food SMEs need to strengthen their
solutions for fuel- and time- brands, clearly define their own unique positions, and resort to innovations. To reach
consuming food logistics as well the goal of successful business transformation, Thai food operators must be brave
as policies encouraging local enough to learn, adapt, and take action. In the future, those who do not go with the
farming and local consumption BCG flow may inevitably face an impending crisis, which will eventually leave them
can also help lower energy with no choice but to give in to the change.
usage.
The Thai food sector is a large
industry inextricably linked with
the agricultural sector. The More Information Service Info C003
integration of the BCG model with
the sector will refine its
competitiveness and contribute
to sustainable business growth.
To efficiently compete in new
markets, food operators need to
combine the unique traits of their
existing products with novel
features to invent even newer
and one-of-a-kind products. Thai
food operators must, furthermore,
dare to step out of their comfort
zone, think out of the box, and be
more observant of the changing
dynamics to find a new opportunity
that allows them to expand
business network, broaden
selling channels, and improve
businesses in a constant and
continuous manner.
If the Thai food industry does
not adapt itself to the BCG
economy model, it s
competitiveness will be
compromised. The consequential
adverse effects will be more
pronounced for food SMEs since
bigger companies usually enjoy
a more advantageous position
thanks to their competitive
manufacturing costs and constant
cash flow, which allow them to
afford the luxury of experimenting

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