Page 116 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
2) Internal units/ personnel : Suitable and fair remuneration structure and welfare are established for the work. The personnel’s skills and potentials are developed continuously, with stability and progress in their careers. Their rights and liberties are respected and protected from being violated. Good working environment is created to ensure occupational health and safety.
3) Partners : Contracts with partners are executed correctly and timely. THP encourages its partners to present new methods/ technologies to improve the goods and services. Information of the partners is not disclosed to any other persons, unless consent is granted by the partners. THP will not engage in any business with partners whose behavior is illegal or against the public order and good morals.
4) Competitors : THP operates business ethically and transparently under the framework of trade competition laws, fair competition laws and other relevant laws. It does not use dishonest methods to seek confidential information of the competitors.
5) Supervisory agencies : Organizational management is carried out in accordance with the visions and business operation is compliance with the corporate governance principles.
6) Society and communities : THP supports activities and projects of the government or governmental agencies, supports and strengthens communities, especially those surrounding THP, to enable them to help themselves in a sustainable manner. Communication channels are arranged to transmit accurate information to the general public in a timely manner.
7) Sellers of goods/ services : Proper and fair purchase prices are determined, taking into account reasonable price, quality and services received. Contracts with the sellers are upheld. Regulations in relation to procurement and other processes are defined clearly. THP operates business transparently and does not demand or receive any assets or benefits from its trade partners. It encourages the sellers of goods/ services to take part in environmental responsibility.
Moreover, THP has prepared a manual for stakeholder management as well as the stakeholder strategic plan of 2024 - 2028 with stakeholder engagement creation plan of 2024, and has monitored the results of operations and reported them to the THP's Board of Directors through the Marketing and Communication Strategies Subcommittee on quarterly basis.
Sustainability and Innovations
» Sustainability Performance
THP is committed to managing the organization
effectively and ensuring sustainable business operations, coupled with creating value by responding to demand and reducing impacts on stakeholders throughout the business value chain. The approach follows the ESG+E framework, covering four sustainable dimensions : Environmental (E), Social (S), Governance (G), and Economic (E). The organization begins by setting policies for sustainable development to demonstrate executives’ direction and commitment to operating towards sustainability. It has established management systems and operational promotion systems that ensure efficient performance. Additionally, a monitoring and evaluation system is in place to ensure that sustainability efforts meet their objectives and goals. THP’s sustainability operations consist of 23 initiatives, divided across the four sustainability dimensions. These are monitored and reported quarterly to the Board of Directors through the Corporate Governance, Risk Management, and Sustainability Development Subcommittee.
» Innovations Performance
THP has an innovation management approach to
drive the organization’s competitiveness and sustainability. The approach begins with setting innovation management policy to define a clear framework that meets stakeholder needs and expectations. The organization has a Corporate Innovation System (CIS) that fosters values and promotes a culture focused on building operators’ networks. It also uses body of knowledge and Big Data related to customers for analysis, aiming to meet customers’ needs and predict their future demands, leading to the development of innovative solutions that competitors cannot easily replicate in the short term. THP’s innovation efforts consist of 22 initiatives, which are monitored and reported quarterly to the Board of Directors through the Strategy Driving and Investment Screening Subcommittee.
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Thailand Post Company Limited