Question

What could be the executive summary for the following case study?

Mr. Kriengsak Lertpittayapoom is the owner of Chug Yont Engineering Co., Ltd (CYE), a smallsized family business located in , Thailand. Although CYE experienced some early financial struggles, Mr. Lertpittayapoom led CYE in the right direction by diversifying its products from food packaging machineries to commercial and residential metal construction. Because of CYE's steady financial performance, Mr. Lertpittayapoom has turned much of his attention to engaging in corporate citizenship and providing financial and non-financial assistance to local educational institutions, hospitals, and Buddhist temples because of his Buddhist values. Unfortunately, Mr. Lertpittayapoom's kindness and care for others has resulted in several business-related challenges, such as the absence of leadership at work and personnel issues. To find resolutions for the challenges without interrupting his continuous desire to provide for the community, Mr. Lertpittayapoom has turned to his son-in-law, a business management professor, for guidance

Answer 1

The owner of the business of CYC, Mr. Kriengsak Lertpittayapoom, performed well for the first few years to give it the shape. It also diversified into various product manufacturing and constructions in the nation of Thailand. In the first few years, the business saw some financial deficit which was well-taken care by the owner in the journey ahead to make steady growth and business challenge management. This made the family-owned business rich which made the owner be happy and focus on the social responsibilities of a businessman. Hence the needed amount of time and material is needed to make the right choice of making social donations to institutions, Buddhist temples, and small business owners to support them. However, this provided to be a little too early for the business to lose its guide and mentor who was the decision-maker and related challenge taker for the business. Hence he had to look towards his son in law for guidance for the CYC ahead. The business needs and guidance for long-term care to be within the challenges for business sustainability were missing in such challenges. The time of the leader was more into his world of religious life over making the decisions on time for the business which was so needed for the business for its long term.