we should not be afraid of taking calculated risks, particularly in a series of small steps, ones which should have been carefully studied and thoroughly planned out.

This year and over the next few years, economic and business complexion will go through drastic changes and so business organizations have to adjust themselves to the new environment accordingly, in order to survive and grow. Globalization has made its effects felt far and wide, some of which are no less than severely disturbing to the global economy and business operation. Globalization, the effect of instability inherent in the flexible exchange rate system and disruptive technology nowadays can be quickly transmitted globally and together have combined to introduce so much volatility to the business world and create a great deal of uncertainty, the kind that is hard to dispel because their nature is neither exactly nor completely predictable, as they can arise from numerous unforeseen sources, events, activities or processes and different countries. Such circumstances may make it exceedingly hard to cope with the resultant uncertainty effectively. Nevertheless, having said that, every organization, including Toyota Tsusho (Thailand) Co., Ltd. Must be ready and prepared for such unavoidable eventuality.

With so much uncertainty which implies risks that naturally accompany it we cannot take chances but rather need to plan ahead. Since the new environment has become highly sophisticated and complex, the ideal way to deal with it is to gain more knowledge about it, and about our own situation, weakness and strength, and the changing conditions surrounding us. Apart from that, each one of us also needs to increase our individual capability to tackle the new conditions once we have identified them correctly and accurately. That may be difficult but not altogether impossible if we employ cross-functional teamwork and put out mind to it and we must.

I realize that this is a portrayal of harsh future outlook ahead but we all must face up to the new conditions and attune ourselves to them and if we successfully do that we will survive and grow stronger.

Nowadays, it seems that most markets are pretty much saturated and new profitable opportunities are few and far between. Simply put, we are compelled to rigorously explore prospective new market opportunities and take possibly increasing risks. More often than not, this means we have to come up with new ideas and innovation of new products, new services, new processes and the likes. This day, since uncertainty and risks abound we need to be careful and take initial small steps when initiating a new project, bearing in mind that most successful business undertakings usually start with a tiny step and seemingly small opportunities and eventually, if we pursue the right path it could and would become a huge success.

Some new ideas and innovation may turn sour but we should not be afraid of taking calculated risks, particularly in a series of small steps, ones which should have been carefully studied and thoroughly planned out. This means that if something goes wrong early on we can rectify the situation without suffering too much damage. We have to never forget the basic business tenner that - no risks, no returns.

And so, I urge all our staff and management to try your best to utilize teamwork efforts and your own full potentials. If we dare to open the door to new ideas and innovation, then profitable opportunities will find a way to knock on our door - and to do that an entrepreneurial spirit is definitely called for.

Dr. Chet Chaovisidha

Honorary Chairman