Slingshot Group’s restructure branches out into three businesses
Expanding the market through vertical growth strategy to attract everyone from corporate clients to workers
Setting a 3-year plan to triple its growth with one million Thai people joining the ecosystem leadership
Slingshot Group’s strong growth has been reflected in its 2021 income growth, up 33% from 2020, despite lockdown measures. It envisions that the world after COVID-19 will prioritise leadership and skill development for corporate employees. The way of thinking and business models will change. The focus will now be on building ecosystem leadership. In its 3-year work plan, the company aims to triple its growth, focusing on vertical growth strategy through its newly formed businesses: Jupiter focuses on building the bigger picture; Slingshot Leadership focuses on leadership development; and V One caters to workers.
Dr. Sutisophan Chuaywongyart, Partner & Group Chief Executive Officer, Slingshot Group revealed that, during the pandemic of COVID-19 from 2020 to 2021, lockdown measures meant in-person meetings, training and seminars weren’t able to take place, which became a risk to business operations. Even so, the company was growing continuously. In 2021, the company saw a 33% increase in income compared to the same time period last year. This is because the company has adapted and developed its business and services to fit the New Normal way of working, especially in its business model which focuses on building ecosystem leadership.
“The COVID-19 situation has been a catalyst that made leaders realise how crucial leadership and skill development is. However, the method has to change. From focusing on developing leaders and personnel of certain organisations, we are shifting to helping leaders let go of old ideas and ways. We invite them to cross individualism into a space where they understand what’s necessary for cohabitation. It’s not about one particular organisation, or community, or country. It’s about the entire world. In the past two years, leaders from over 200 organisations have joined the ecosystem leadership through the LeadershipACT programme,” Dr. Sutisophan said
The opportunity in building ecosystem leadership in Thailand is a huge mission, which has led to an important business restructuring of Slingshot Group as a training ground to a corporation that builds Thai people to a global standard.
Based on the trend, Slingshot Group has been increasing its potential. It is now the most crucial time to question the future. In the next three most intense years from now, how is Slingshot planning to improve itself in order to benefit Thai people and grow with the new world?
It resulted in a resolution that Slingshot Group will not limit itself to just training and seminar business. Its core strength in understanding Thai leaders and corporations for almost 20 years will be utilised to expand the business vertically. The focus will no longer be only on leaders but will be expanded to cover from management to workers.
Dr. Sutisophan continued that, from this clear vision for its business, the board of Slingshot Group agreed on 28 February 2022 to adjust the business structure into three businesses under Slingshot Group according to the 3-year work plan (2022-2024). The objective is to triple the growth with 1 million Thai people in the ecosystem leadership. The three businesses are as follows:
- Jupiter will oversee the bigger picture of the structure, management system and operation under the leadership of Mr. Plurth Eungkaneungdeja, Chief Executive Officer of Jupiter.
- Slingshot Leadership, the current business, will cover corporate leadership development under the leadership of Mrs. Mantana Raksachad, Partner & Chief Executive Officer, Slingshot Leadership.
- V One will serve general workers and will be led by Mr. Sukit Phanchaphanpong, Chief Executive Officer, V-One.
Additionally, to increase the group’s potential, an investment worth 30 million baht will go towards building a research team that will utilise real-time information to create a curriculum and environment that responds quickly to the ecosystem leadership that’s designed especially for Thai audiences.
Mrs. Mantana Raksachad, Partner & Chief Executive Officer, Slingshot Leadership stated that “Amid the uncertainty resulting from the spread of COVID-19, many may feel this is the time to just stay still. On the contrary, businesses in corporate leadership development are growing. This is because many organisations have realised that the key to a business’s survival is the leader. They have taken this opportunity to improve the skills of their leaders. In the past two months alone, even at the height of the Omicron variant, we’ve had over a hundred corporate leaders undergoing the process of skill development. Moreover, it’s not happening at just the corporate level, but also at the national level. In the past year, we have developed the skills for civil servants and personnel from over sixty state departments and enterprises in order to improve the standard of Thai personnel to an international level. This is the direction Slingshot Group is heading in order to uplift the potential of personnel in all sectors in Thailand to accommodate changes and uncertainties in the future.”
Mr. Plurth Eungkaneungdeja,Chief Executive Officer, Jupiter said that “The survey on leaders’ future business operations from a foreign report matches the results of many Thai leaders. It has been found that 45% of corporate leaders expect that business growth will be better in 2022. They also agree that businesses will require transformations to adjust their business models in several dimensions. This is different compared to the Hamburger Crisis which focused mainly on reducing cost and capital. Our company also has one important principle to work with clients in achieving results together (outcome focus). We believe that all organisations or industries in Thailand possess enough potential to lift themselves to a global standard. So, we are offering services in consultation by developing the strengths that each organisation already possesses and making them even stronger to suit the organisation and various needs of clients.”
Thus, the company is now dividing its services into three sectors to aid clients in all dimensions as follows. These are 1) Configure: Design and restructure management systems to make the organisation suitable for the direction it is heading in the future, 2) Perform: Design and adjust workflow, knowledge management, change management and more to increase productivity, 3) Develop: Develop a career course for the new generations and successors to create career mobility and a leadership bench. Furthermore, the company also has business partners that provide technological services that can support the aforementioned services. There are also other types of services that are being innovated and developed in order to provide the best services and consultations for clients in the future.
Dr. Sutisophan concluded that, “We believe this transformation will unlock not only ourselves but also our clients. Every puzzle piece – from corporations to leaders to workers – is important. No piece can be missing. We can undoubtedly help our Thai clients and Thailand to take a step forward toward growing at a global level.”