Taking the long view on resilience and sustainability with 5Cs at B. Grimm

• Main Author: Suparak Suriyankietkaew
• Other Authors: Mahidol University
• Format: Article
• Published: 2020
• Subjects: Business, Management and Accounting
• Online Access: https://repository.li.mahidol.ac.th/handle/123456789/50442

© 2019 Wiley Periodicals, Inc. In an age of disruption, uncertainty, and constant change, resilience and sustainability are critical to business success. Practitioners concerned with ensuring the longevity of their firm can learn much from the experiences of 140-year-old B. Grimm of Thailand, which evolved from a modest pharmacy into a leading multinational enterprise in Asia. A review of the company's history and interviews with its leaders reveal five basic elements—the 5Cs—that underlie a humanistic management strategy focused on the growth and development of all stakeholders. Integrated into every aspect of the organization's operations, they are: crafting a strong corporate culture and values; cultivating compassion-oriented people management; caring for stakeholders through ethics, social and environmental responsibility, and cooperative partnership; continuing innovation with high quality; and considering long-term adaptability and agility.