Intellectual capital is knowledge that can be exploited for some money-making or other useful purpose. The term combines the idea of the intellect or brain-power with the economic concept of capital, the saving of entitled benefits so that they can be invested in producing more goods and services. Intellectual capital can include the skills and knowledge that a company has developed about how to make its goods or services; individual employees or groups of employees whose knowledge is deemed critical to a company's continued success; and its aggregation of documents about processes, customers, research results, and other information that might have value for a competitor that is not common knowledge.

Human capital refers to the stock of productive skills and technical knowledge embodied in labor. Many early economic theories refer to it simply as labor, one of three factors of production, and consider it to be a fungible resource  homogeneous and easily interchangeable. Other conceptions of labor dispense with these assumptions.

8 K's 

8 k’s that lead us to think about Human resource which has the component of  capital that can be classified to 8 types but in this question; Intellectual, Ethical and Happiness Capital is so important because it is the first step of human resource management.

Intellectual Capital is the ability of thinking, analysis and then can be used to create value added. Every people do not have intellectual Capital. People who intend for every knowledge and study consistently will have an Intellectual Capital. This is because the knowledge is not only study in the program but also find from every part of the world and you have to experience in the real world. If you have Intellectual Capital, you can bring your knowledge and experience to create value added.

Ethical Capital is not only people who have good welfare and good education but it is the personnel ethical. If the leader people in Thailand do not have ethical, they will work for their successful and selfish. They do not work for social. Therefore, Ethical is so importance because it could be having in every people. People who have ethical will develop country and make the successful.

Happiness Capital is the importance one because every people want happiness. They want happiness in every time. Therefore, every people have to think for their happiness and others happiness too. If they do not think so, Social does not have the unity.

Finally, Every Capital could be composing together. If it lose one, people will not meet successful.

            After I finish my Bachelor Degree from Double Degree Program from Kasetsart and Victoria University, I plan to work with strong and successful company for 1-2 years in order to find the area of interest to study in Master Degree. After that I will study more in Master Degree and study Chinese or Japanese language because they are importance language as same as English.The reason why I need to work with strong and successful company because they have the capacity and good management that useful in my future life because they create knowledge for me to open my window. Moreover, if I have a chance, I will create my own business.

The company in Thailand that has good business planning is the Red Bull Beverage Co., Ltd that sells energy drink to over the world. It is the successful and well known company of Thailand that widespread all around the world because Red Bull Beverage Co., Ltd has a good organization and good marketing .In addition Red Bull Beverage Co., Ltd is a good business planning company, it has a long term plan. Red Bull Beverage Co., Ltd creates many profits to Thailand.

Intellectual Capital is the way to increase and improve the value of them. People have to learn all the time in order to bring their knowledge to use in their life.

Ethical Capital is about moral and virtue that is the basic of human .People must have Ethical Capital because it can create a good thing to themselves, other people, countries and the world.

Happiness Capital is happiness is very importance and every people want it .People need happiness to occur to their life. If people happy, they will work well and do the right things to other people.

     Personal goal  

     After I graduated from Kasesart University, I have planned to work in any companies involving with trading oversea for one year. Then I would continue studying in master degree. I want to work for one year before continue studying because I want to gain experience in working especially in International Trade, so that I can use this experience to apply with the knowledge while I’m studying Master degree. After I study MBA for two years, I will accumulate more experience by working for other one year before entering in doctoral course. At the fifth of my plan, I will be studying doctoral degree.

           The company in Thailand that has good business planning

            Thai Beverage PCL is one of the companies that has good business plan.  Thai Beverage is the leading producer of beer and spirits in Thailand by sales revenue and production volume, and one of the leading brewers and distillers in Southeast Asia. The Company's major market is still Thailand, but the Company plans to expand abroad in future. Thai Beverage's strategy is to maintain and build on its leading position in the Thai alcoholic beverage market and expand business internationally by investing in a portfolio of existing and new brands to cater to key segments of the market, while remaining focused on profitable growth and shareholder value creation.

             About 8K theory

             8 K theory is the theory that tells us of about human resource. The theory of 8 K consists of Human, Intellectual, Ethical, Happiness, Social, Sustainability, Digital and Talented Capacity. All those are good component of being a good human resource.

            Intellectual Capacity is the capacity of a person to think and to understand ideas and information. It also refers to the ability of people to think and analysis. There are many people that have high education but lack of ability to think and understand well. So the intellectual capacity should have among organization.

            Ethical Capacity is the capacity of understand of what right and wrong. Even though, in the company or organization has a lot of smart people but do not have ethical capacity, the company will be easily failed. Ethical Capacity will build trustiness among organization.

Personal Goal

When I will graduate at Kasetsart University, I will find the job for getting mor experience. I decide to work about international business at CPF about 3 years. THe requirement of people who want to join in this company is specialized in writtng and speaking English well. It is the first time that I make money from myself, I promise in my mind that I want to give some gift to my father when I can make th salary from working. After I get new experience, I will learn in master degree program about risk management and insurance at Chulalongkorn University. My father told me that risk management and insurance is an interesting subject. I can bring this subject to apply in my daily life. I have to try more and more in English skill, get new expereince and incrase more knowledge when I have good chance. Mu quote id the everything the best. I have to run to get a chance but not wait for it. Everything is risk. I have to invest although it has a barrier or high risk because the result will be good and I will get high return.

Example Company

The company that I choose for example is CPF because they have a good plannig in divided the responsibility to professional officer. Each part of organization structure have different part an responsibility in their wok. They do the business from step by step. This company have good stategic in advertising and marketing. CPF is the best company to manufacturing agricultural food to global market.

Theory of 8 K's

This theory  based on human resource. It is completed if it has 8 component combine with together. There are human capital, intellectual capital, ethical capital, happiness cpital, social capital, sustaimability capital, digital capital and talented capital.

Intellectual capital: Ability to htink and apply in te real world. People have to use critical thinking and reasonal thinking to be a good analyze for getting more profit and achieve the goal.

Ethical capital: Ethic is an important factor to make people do the good thing. Although people who have more knowledge or get many degree from learning in university, lack of knowledge, those people not have value in the organization. The society needs intelligenct people with good moral to develop country.

Happiness capital: Everything that we want to do should make us happy especially "good idea, good act" and not make trouble somebody. We should not selfish and think other mind as our mind. For example, when we want someone respect us, we have to respect other people first.

The important of Intellectual, Ethical, and happiness Capital.

Intellectual Capital

In my view, intellectual capital is like a knowledge asset of an organization which mainly comes from employee. It is important because without the knowledge, the organization can not success in their business. This time the world war is not fight by any weapon but it is the knowledge. Therefore nowadays people or organization who/which wants to survive in globalization must have knowledge. Thai is why IC is so important.

Ethical Capital

Ethical Capital is one of the key factors that make the business survive and get competitiveness in global market. Now there are a great pressure from stakeholder around the world that want business sector have responsible to social and environment. Fortunately, my research topic related to this area. There are many evident on research worldwide shown that now employee, consumer, investor, and government pays a great attention to social responsibility from organization around the world. Some evident shown consumer and investor will punish the company that does not have responsibility by boycott it. Thus if the company want to success in world market, they have to take ethical and moral into their organization. Ethical capital also helps the company to gain sustainable development.

Happiness Capital

In my view, the most important factor in successful life is happiness. If we have a lot of money but do not have happiness, that money is nothing. Thus I think it is the most important thing to concern if company has to work with people. This is because if our employee not happy with their work, how they can reach their maximum efficiency. I think people will work with their best when they love to do that job. Therefore, if company can make their employees to have happiness in work, they will gain the maximum capability of their employee. This will be one of successful factors for company around the world. 

       The important of ethical capital is a group of experienced, committed organizational change professionals who are using the experience and expertise gained over 15 years in large systems and culture change, and applying it in collaboration with organizations who want to move beyond ethical Compliance in their organizations.

Our work is based on the Assumptions that Building Ethical Capacity must be:

Systemic – All aspects of the organization must be included

Global – Not strictly a US-based orientation

Dialogic – Requires focused and expansive conversation together

Business Results Driven – More than just a “nice to do

We believe that Building Ethical Capacity requires A New Positive Paradigm of Business Ethics. Most of all, we believe that it is Possible.

      The important of happiness capital is so important to us, both as individuals and as a world, primarily because happiness is really all there is.  As human beings, although we possess cognitive abilities and are highly "thought" oriented, the quality of our lives is ultimately ENTIRELY determined by our emotions.  For example, which life would you rather have; that of a very rich, attractive, successful, healthy, powerful person who despite all of those blessings is very unhappy or that of a very poor, unattractive, unsuccessful, unhealthy and powerless person who is nevertheless fortunate enough to be very happy.

After I graduated from Kasetsart University, I have plan to ordain for return favour to my parents and then my plan is do work in strong or mid-company about 2-3 years for accumulate experience from working. After that I would continue study in master degree.

For the company in Thailand has good business planing in my view is Kasikorn Bank Public Company Limited, because Kasikorn Bank has to develop itself always into a strong situation and institution that provide a variety of financial services of world class quality by harmoniously combining technology and resoures.

Etheical capital is main factor for success in business and developing organizational leadership, resources and practices that build ethical capacity in global organizations.

After graduated, I plan to participate in work and travel program at America for getting the new experience and then if I have chance I will go to work at Australia too for developing my English skill. Next, I plan to have my own business at Chaeng Mai province because my parents decide to live there; I think it’s easy for me to begin my own business there because Chaeng Mai has many foreigners.

I think PTT public company limited is the good example. They plan to be the pre eminent Thai energy corporation. They are operating a fully integrated oil and gas business, which encompasses gas-based petrochemicals and total energy services. Also PTT want to be a regional leader and a high performance organization with accountability, integrity, and optimum stakeholder returns, within a value-driven corporate culture. PTT shall manage its business to sustain growth and portfolio advantage whilst taking into account of satisfactory returns and provide customer satisfaction with its diverse offers of high quality international standard products and services.

• Intellectual capital: in my view, intellectual capital is important in term of think and applies our knowledge to use in real world. Somebody have much theory or knowledge but they can not apply and use it; this means that they will not survive in the real world or high competitive condition.
• Ethical capital: I think ethical capital is the important factor to make human know what is the right thing and decide to do it. The smart human without ethic is the beast.
• Happiness capital: if people do the job or work with stress, their performance will reduce compare with the one that do with happiness.

     Intellectual capital is knowledge that can be exploited for some money-making or other useful purpose which It combines the idea of the intellect or brain-power with the economic concept of capital, the saving of entitled benefits so that they can be invested in producing more goods and services. Intellectual capital can include the skills and knowledge that a company has developed about how to make its goods or services; individual employees or groups of employees whose knowledge is deemed critical to a company's continued success; and its aggregation of documents about processes, customers, research results, and other information that might have value for a competitor that is not common knowledge.

     Ethical capital is a group of experienced, committed organizational change professionals who are using the experience and expertise gained over 15 years in large systems and culture change, and applying it in collaboration with organizations who want to move beyond ethical Compliance in their organizations.

      Happiness capitalHappiness can be defined as various of things depending on whom you are, we can all find our own little pieces of happiness from various sources, in all honesty it does not matter where these sources originate but what matters most is that we feel happiness. Life is a very frightening place with trials and tribulations, a little bit of happiness can brighten the most darkest of days and help us to deal with whatever life throws at us. Happiness has no restrictions, age limits, guidelines or boundaries, it is reachable by all.

1.  What is your personal goal in 5 years from now? How do you plan to achieve it?

After I graduated from Kasetsart University and Victoria University I am going to join work and travel program in USA next month. After that I will go back to my home town to rest myself from study, while helping my parents business for 1 year. Moreover, in the first year I plan to travel oversea country as many as I can afford to widen my horizontal, and to know more about the other country. After I travel to many country and gain more knowledge from traveling, I will study in Master degree in International Business. Then, I will take a short course about fashion design and set up my own business about costume, however the costume business would be my part time job, while I am working in International Trade field.

2.  Give me 1 example of Thai Company that have good business planning.

1.  Give me 1 example of Thai Company that have good business planning.

I  think that AIS has a very good business planning and vision on telecommunication of Thailand since they forecasted that the communication would play the important role in the globalization. Moreover ,it was the first service publisher of Thailand. From this point until now it show it great strength in its operating and business planning because it still remain as a first position of telecommunication in Thailand. AS well as ,all of its promotion and it's strength of signal that cover all part of Thailand tell that it has the competitive advantage above other company which this is why they can gain Thailand people heart especially people in far province. Moreover, this achievement result from a good business planning,that is the synchronize between functional of the company and emotion of the customer which this point give AIS ahead of its competitors.

            In my personal view all 8 k theory is all important however, Aj. Jira asks us to write only three of them. Firstly, the intellectual capacity is the important of how can they use its knowledge and intellectual on their actual working.

            For ethical capital I think every firm should concentrate on social that they should concern more on social happiness rather than their private return. Also they should take more research on how to develop their ethical capital knowledge to their employees.

            Lastly, happiness capital is a vital part in all company which every company should seek for any management or tools that can make their employees feeling happy in what they are doing for the company and also feeling that they are the owner of the company. If lack happiness work amount and quality will be so worse.

Why Intellectual capital, Ethical capital and Happiness capital are so importance?

Intellectual capital is important because companies or organizations are drive by human capital, and they will meet the efficiency level only the human have intellect. The intellectuals are not just having knowledge, but they also have consciousness, smart, and right decision. I have had read a book that imply about intellectual. The writer shows the different between the cleverer and the intellectual. It makes me understand that both clever and intellect are not the same. Only clever is not enough in these days.

Ethic capital is very important nowadays in macro and micro level because global demand pay a lot of attention on social right and care in environment much more than the past. In human resource, ethic leads operation to run smoothly without problem, and if the operation can run without stumble, company will get higher output.

Happiness capital, from many researches and experiences can confirm that ability to work was impacted directly by the happiness of the workers. The output will go in the same way with the happiness, and follow by the royalty of the workers to the organization.

My future plan after my graduation is to help my father business to expand his business in agricultural field by using my knowledge both from agriculture and international trade. And in 4 years time after my father business is stabilize I will take a further study of Master degree on Marketing to improve the company marketing strategy.

            I think EGCO or Electricity Generating (Egco) has a good business planning which the company has surveyed 10 possible site for new construction of a new coal-fired power plant, by using new technologies to minimize the cost for the government to select EGCO as a company to build electricity for the country.

            In my opinion I think intellectual capacity also one important issue for a company to success and improve in their business and also ethical capital that each employee should have if not they won’t be loyalty and technologies or information may lose from the company. And last of all the happiness capital is really important part for a successful company because if employees doesn’t feel happy their work won’t be good.

Prinnada Malairassamee

Kittipong Namuangrak

ขอเปลี่ยนจาก SCB เป็น Kasikorn Bank ค่ะ

Topic: re-engineering

Case study: Kasikorn Bank

Team member: Prinnada Malairassamee, Kittipong Namuangrak

Let me change  case study to be    Big c

Topic JIT

Topic: Human Capacity Building

Case Study: PTT

I. ON FUTURE PLANS

As I near the finish line of yet another milestone in my life, thinking about the future and what lies ahead is inevitable. Whether to invest four very productive and significant years to studying and "sharpening the axe", or do something else, was a major decision I had to make. And now, after all is said and done, after all the sleepless nights cramming to prepare for exams or to finish a report due the following day, I am quite happy, satisfied, and proud with what i have achieved. Even though i second-guessed my decision to enroll in this program at first, now I can say that i have no regrets of having done so.

I am a person who is typically a control-freak, and not knowing what will happen next is extremely disconcerting. But I am confident that, be it in pursuing a career in Thailand or abroad, or continuing on to higher education, or even making a family, I will be able to make a more- informed decision now because I have gained more knowledge and wisdom in this last four years that I have dedicated to Kasetsart and to Thailand. 

II. ON A THAI COMPANY WITH OUTSTANDING PLANNING

From a foreigner and a consumer's perspective, and given the limited information avaiable to me at this time, I believe that Fuji Restaurant Company is highly commendable.

Judging from its popularity among Thai consumers, and the myriad branches it has all over the country, it does not take an accountant to figure out that Fuji as a company is doing extremely well. Their market positioning works perfectly, as their prices are not extremely expensive that it is limiting, but it is also not too cheap, thus it still has the "society" image in it. The service is fast and efficient, the restaurants are pristine, and most importantly, the food is consistent and great value for money. I can say that, from an outsider's point of view, Fuji does excellent planning!

III. ON INTELLECTUAL, ETHICAL and HAPPINESS CAPITAL

Intellect, Ethics, and Happiness.....sounds to me like a perfect buffet of aspirations a company could possibly want and need from its people.

Intellectual capital is vital in running a business, as "know-how" is the core of doing business. Without it, business as we know it would seize to exist. It is imperative for companies to 1)hire the right people, with the right qualifications and technical expertise and experience, and 2) to continuously improve the intellectual capacity of the employees by fostering a dynamic learning environment.

Ethical capital is very crucial in business, and is somethhing that a company should safeguard just as much as intellectual capital. In this day and age of internet and wireless connections, ethics and personal boundaries are violated and neglected very easily, may it be intentional or unintentional. Piracy, infringement of privacy, and other forms of ethical misconduct happen left and right. As a company, it can safeguard its ethical capital 1) physically (i.e. having stringent rules and security on properties and domain) and 2) personally (i.e. by instilling the company virtues and ethics on each employee). The second way is the more lasting and surer method of maintaining and even uplifting the ethical capital, however it is also the more difficult and more elaborately tedious way.

Happiness capital sounds arbitrary at first, but if one is to really ponder on this matter, we can say that it could be the key to having a successful business - having people who are happy and proud of what they do. Happiness is indeed very difficult to gauge, as every person is different and each has different aspirations in life. Happiness could mean financial success for one, but may mean more time for leisurely activities for another. Thus, the key in achieving a wealth of this happiness capital in a business is striking the right balance for all the employess. Indeed, it looks good in theory, but doing it in actual business setting, and actually finding out how to keep employees happy while keeping the business on the black is an entirely different story....Cheers!