SET Senior Executive Vice President Krisada Sektrakul said the COVID-19 outbreak has accelerated the pace of disruption in diverse dimensions faced by industries across the globe. A number of Thai listed companies have managed to adapt to navigate through this difficult time with sound risk management system, enabling business continuity. SET has recently incorporated practices and showcased the experiences in managing businesses amid the unprecedented COVID-19 crisis in a report entitled 'Sustainable Development Showcase 2020' contributed by 149 companies, also responded in sustainability assessment form, across the sector. With Covid-19 making different types and magnitude of impact on different sectors, the data collected revealed how companies resiliently overcome enormous challenges by using varying management tools. The report is expected to be useful and adaptable to other listed firms and interested entrepreneurs in running their businesses.
"The information gathered exhibits Thai listed companies' capabilities in applying flexibility & agility, and adjusting well to handle crisis. They have taken great care of their employees and stakeholders; innovated work processes, products and services; and initiated new business models. In addition, they have upskilled their employees and adopted new technology to quickly respond to consumers' needs. This is in line with SET's plan to encourage listed companies to integrate environment, social and corporate governance (ESG) principles in their operations on their journey toward balanced growth," said Krisada.
How the 149 listed companies resiliently handled the COVID-19 crisis is comprehensively mapped under four frameworks: 1) Emergency Response 2) Crisis Management 3) Impact Mitigation and 4) Business Recovery. Moreover, SET has also created checklist for listed companies and other businesses to use as guidelines for managing risks and business planning to ensure business continuity in the midst of the crisis.
Source: SET Corporate Communications