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Foster Innovation Culture

We build talents through innovations

ISO 26000 and ISO 9001

Management Approach

TIPCO Asphalt Group integrates innovation philosophy in the Group’s Vision 2025 Corporate Strategy, focusing on establishing knowledge and foundation, full understanding and structure of innovations while promoting innovations through Innovative Solutions Award and Innovation Boot Camp activities. Successful innovations would lead to tangible business results including social benefits. The Group formulated Innovation Roadmap 2025 as a guideline for systematic innovation thinking. The roadmap, implemented since 2021, focuses on employee skill coaching, inspiration, and incentives for employees to initiate and execute innovation ideas. In 2022, the plan aims at innovation initiatives from cross functional collaboration across units that seamlessly integrate and optimize multi-skills from various units. By 2023 the roadmap will focus on creating the organization’s capability that can drive innovations across different areas where the Group operates while seeking external partnerships to further co-develop new innovations, both from business partners or from other innovation-driven organizations which will be the Group’s ultimate target by 2025.

Policy: Innovation Policy (Link PDF)

Stakeholder :

Employees and Community

Sort term goals :

  1. Training on systematic innovation thinking at Innovation Bootcamp project, for interested employees who further submitted their projects for the Innovation Solution Award >50% of totalparticipants
  2. 50% employee participation
  3. More than 90% project satisfaction
  4. More than 10 projects on ‘green’ innovation, or environmental and social innovations. More than 5 of which were already implemented in 2020

Long term goals :

  1. Integration of ‘innovation’ into corporate culture; with >25% profit increase from innovation, as compared to baseline year 2018

Key Performance :

One of the key lessons learned from our first annual Innovative Solutions Award was the challenge in finding right innovationtopics and benefits. The Group conducted the “Innovation Bootcamp” with coaching sessions hosted by external innovation experts to train our participating employees on systematic innovation thinking, including presentation of their project ideas. In 2020, there were more than 50% of proposed innovation projects that exhibited high potential for further developments into new business models and fully aligned with the Group’s corporate strategy, were selected through to the next round of innovation development stage.

Innovation Bootcamp project

Satisfaction score

84%

Number of participants

Pre – Learning

124

persons

Presentation

77

persons

Total projects

Pre – Learning

23

projects
Experiment

23

projects
Presentation

23

projects

Monitoring results of Innovative Solutions Award 2019

Finished

2
projects

On-Going

32
projects

Stop

37
projects

No Report

62
projects

Cost saving

27.8
million Baht

Time saving

2,812
hours

Sales of New Products

2.0
million Baht