Sasin Alumnus Voraphol Nithipitigan on the Success of Squid Brand and Megachef

Building Trust and Honesty

Squid Brand Fish Sauce, a global fish sauce brand, has seen success for over 80 years. Sasin alumnus Voraphol Nithipitigan (Sasin Executive MBA 2022), Assistant Managing Director of Squid Brand and Marine Resources Development at Megachef shared the ingredients behind the brand’s enduring success. He emphasized that the first crucial element in any business is establishing trust with all stakeholders, including suppliers, employees, and customers. “Over the 80 years, our customers have given us trust, and the reason why they’ve given that trust is because we’re very honest in what we do,” he said. “Honesty is how we become successful — creating good quality, consistent products, and staying true to ourselves as well.”

“Our employees are all rooted in a culture of honesty. People work towards the same goal, and not everyone is working for their own benefit.”– Voraphol Nithipitigan (Sasin EMBA 2022), Assistant Managing Director of Squid Brand and Marine Resources Development, Megachef

Being Adaptive and Pragmatic Beyond trust, Voraphol believes adaptability is equally critical to long-term success. “The most important thing is being able to be adaptive and pragmatic in your business approach,” he said. For Squid Brand and Megachef, this meant expanding into new customer segments and developing products tailored to the growing health-conscious market. Managing a Family Business Running a family business presents a set of challenges distinct from those of managing a public company. Varaphol said that when managing a family business, establishing strong family governance — at least 50 percent of the effort — must come before tackling the operational side of the business. For Squid Brand and Megachef, having strong top leadership that sets clear goals and direction allows the business to flourish and grow. Building on this foundation of governance and leadership, Varaphol further emphasized another critical aspect of family businesses, that is, recognizing that family dynamics are emotional, not purely logical. “Family is very emotional-based, so I think sometimes logic isn’t the way to do things,” he said. Sustainability in the Food Business According to Voraphol, Squid Brand and Megachef have transitioned to become an all-clean-energy company, minimizing energy consumption across production and manufacturing. Solar systems have been installed at their manufacturing plant to reduce carbon emissions. “I think we can say 100% that we are a zero-waste company,” Voraphol said, pointing to their practice of converting fish waste into pet food and agricultural products. “We have a system that manages waste, and a continuous supply chain that puts that waste to efficient use,” he added. Transforming Leadership Style Traditionally, Squid Brand and Megachef operated with a steep organizational hierarchy where frontline workers rarely had access to senior management. Voraphol is working to change that. “We are trying to flatten out the organizational structure, allowing new employees to interact with top management and share ideas,” he said. For Voraphol, a thriving workplace goes beyond productivity. Employees should feel fulfilled not just at work, but in life. Work-life balance and activities outside of the office are equally important. He emphasized that clear goals are also very important in terms of career path. “When employees know where they are headed, they feel motivated and are able to maximize their productivity,” said Voraphol. Technology Transformation Squid Brand and Megachef are in the midst of a significant technology transformation, particularly in manufacturing. Robotics are being introduced on the production floor, while AI-powered systems are being integrated across business operations. “We are implementing sales systems to be more transparent in our information and to serve customers better,” said Voraphol. “This extends to our accounting systems as well — helping management access faster data to make decisions and respond to changes in the industry, including geopolitics and globalization.” Yet amid all this transformation, product quality remains crucial: “I think it’s more important that we focus on adding value to our products and improving quality to compete internationally with foreign competitors.” Sasin’s Impact on Leadership At the core of Voraphol’s leadership philosophy is a commitment to continuous learning — something he credits Sasin for reinforcing. “Sasin gives great opportunities for people — not just young leaders, but all business leaders to learn. A good leader has to be able to learn and think about change all the time.” Beyond the classroom, he values the strength of Sasin’s alumni network. “I joined the alumni golf team, and what amazed me was that people from 20 to 30 years ago are still involved and connected,” he said. “It’s a great place not just to connect with people of our generation, but with those from the past — to share experiences and learn from one another.” Advice for Next-Gen Leaders Voraphol’s advice for the next generation of business leaders is to “Listen more, be patient, and be adaptive.” Above all, he encourages young leaders to embrace risk and remain open to change.