Innovation Management
Goal and Performance Highlights
Performance
Goal
Challenges and Opportunities
Central Pattana Public Company Limited operates in a rapidly evolving environment, which presents both challenges and opportunities in innovation management. The Company must closely monitor technological advancements and effectively integrate innovation into all business processes. Striking a balance between innovation development and risk management is critical to ensuring that innovations meet the diverse needs of stakeholders and contribute to sustainable growth.
At the same time, Central Pattana recognizes the opportunity to utilize technology to enhance customer experience, increase operational efficiency, and reduce costs, while pioneering new business models aligned with future market demands. Innovation also provides a competitive advantage and supports sustainable practices by minimizing environmental impact and addressing social issues. Data utilization and advanced analytics are therefore essential tools enabling the Company to develop effective solutions, stay ahead of market trends, and create long-term value continuously.น
Innovation also provides a competitive advantage and supports sustainable practices by minimizing environmental impact and addressing social issues.
Management Approach and Value Creation
Central Pattana is committed to managing innovation systematically by integrating it into every stage of the business value chain—ranging from product and service development to process optimization and fostering partnerships. The Company's objective is to enhance customer experience, improve operational performance, and generate positive impact on society and the environment. Innovation is not merely a growth driver, but a key differentiator that enables the Company to stay agile in the face of changing markets and consumer behavior.
Customer-Centric Innovation
Central Pattana places a strong emphasis on customer-centric innovation. By leveraging customer insights and feedback, the Company continuously improves its products and services to meet genuine needs. Data collection, analysis of feedback, and exploration of customer pain points guide the development of services that effectively meet expectations. This process is underpinned by the Kaizen philosophy and the PDCA (Plan-Do-Check-Act) cycle, which supports continuous improvement, error reduction, efficiency enhancement, and customer satisfaction. These efforts help create a superior experience at every touchpoint and deliver services that are adaptable to changing consumer behaviors.
Customer centric innovation
Internal Innovation Programs
Central Pattana encourages innovation from within by empowering employees to contribute new ideas and approaches to product development and operational enhancement through the “Power of Dream” initiative. This program invites employees across all levels to propose actionable innovation projects. Additionally, the Dream Team and Dream Big programs provide platforms for employees to demonstrate their creativity and develop innovations that streamline workflows, boost efficiency, and deliver measurable results. These initiatives not only generate new products and services but also foster a strong culture of innovation, enhancing the Company's competitiveness and ability to continuously offer market-differentiating solutions.
Encourages innovation from within by empowering approaches to product development nd operational.
Digital Technology and Innovation
Central Pattana prioritizes digital transformation by developing platforms and digital solutions that optimize operations and elevate experiences for customers, tenants, and partners. Notable innovations include Central Offices and Central Pattana SERVE, digital platforms enabling tenants to access leasing information, manage transactions online, and obtain essential services conveniently.
The Company also focuses on strengthening its digital infrastructure and advancing Big Data Analytics to interpret complex data and refine business strategies. These developments allow Central Pattana to proactively forecast market trends and respond to consumer behavior with greater precision and efficiency.
Focuses on strengthening its digital infrastructure and advancing Big Data Analytics
Digital Technology Innovation
The Company applies digital technology innovations to develop applications and Omnichannel marketing strategies to better serve key stakeholders—customers, tenants, partners, and employees—by enhancing business benefits, improving experiences, and increasing operational agility. These innovations are also leveraged to improve the efficiency of information infrastructure and big data analytics, as follows:
Stakeholder Groups
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Office visitors
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Residents
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Retail Tenants
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Suppliers
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Employees
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Innovation from Internal Units: Power of Dream Project
The Power of Dream project brings to life the Company's four core beliefs, particularly the principle of “Never Stop Developing New Things,” by embedding it into corporate culture. It encourages employee participation in developing new innovations and continuously enhancing work quality and standards. The program fosters a culture of idea-sharing and knowledge exchange and is held annually.
Innovation through Collaboration with Partners or External Entities
The Company incorporates feedback from key stakeholders and collaborates with partners to improve and develop products, services, and processes. This is done using a pilot-test-feedback-improve-iterate-expand model. Innovation management is categorized as follows:
- Procurement to Support Innovation – Procuring products or services that are considered new innovations in the market, such as:
- Cleaning robots to reduce manpower during mall closing hours
- Transparent visual display screens as new retail innovations, piloted at Central Ramintra
- Grey water waste decomposition systems, piloted at Central WestGate under a CSR initiative
- 2. Co-development of New Innovations with Partners, such as:
- Collaboration with SCG Building to pilot an indoor air purification system at Central Ayutthaya, improving indoor air quality and energy efficiency
- Collaboration with Thai Watsadu and Gulf to pilot a concession-based solar power generation system where Gulf installs rooftop solar panels on Thai Watsadu buildings and transmits the electricity to Central Salaya
Business Collaboration to Develop Innovation
Central Pattana recognizes the importance of developing innovation through collaboration with business partners. The Company initiates projects aimed at co-developing new solutions that meet customer needs and promote sustainability. Examples include air purification system development with SCG Building to reduce indoor pollution, solar energy initiatives in collaboration with Thai Watsadu and Gulf Energy, and joint development of eco-friendly products and services with external partners. These collaborations enable access to new technologies and diverse ideas, resulting in innovations that create long-term stakeholder value.
Aimed at co-developing new solutions that meet customer needs and promote sustainability.
Driving Innovation with Data
Central Pattana emphasizes data-driven innovation by utilizing Power BI and advanced analytics tools in business management. The insights derived from data analysis are applied to enhance operational efficiency, refine business strategies, and strengthen decision-making capabilities.
Emphasizes data-driven innovation
Innovation Monitoring and Evaluation
The Company places importance on tracking and evaluating the effectiveness of its innovations using clear KPIs, such as reductions in operating costs, improved service efficiency and speed, and customer satisfaction. Continuous evaluation helps identify the strengths and areas for improvement in each innovation initiative, enabling the development of sustainable solutions that generate long-term value.
Importance on tracking and evaluating the effectiveness of its innovations.
Agile Innovation Approach
Central Pattana adopts a flexible and agile approach to innovation management, incorporating Agile Innovation into the development process. This approach facilitates rapid testing, refinement, and scaling of new products and services. Pilot projects can be trialed in real settings before broader rollout.
The Company is committed to driving the organization forward through innovation that enhances competitiveness while advancing sustainability at the corporate, community, and environmental levels. Central Pattana’s innovation efforts not only create business value but also play a key role in delivering long-term positive societal impact.
Incorporating Agile Innovation into the development process
Stakeholders Directly Impacted
Tenants and Lessees (Retail and Offices) and Residential Customers
Employees
Customers
