TP Rachmat Conglomerate: The Crisis Due To COVID-19 Is Not As Bad As The 1998 Economic Crisis
TP Rachmat conglomerate. (Photo: Doc. Antara)

JAKARTA - The legendary entrepreneur who is also the founder of the Triputra TP Rachmat Group shared his experiences of how a company leader or CEO could bring an organization out of the crisis both during the 1998 economic crisis and when facing the COVID-19 pandemic which is still ongoing today.

"Hope, namely hope and conviction, namely the belief that a crisis will end, is the key word that differentiates the quality of leaders," said former Astra Group CEO TP Rachmat in a webinar with the topic "Leadership Challenges in the Double-Disruption Era: Wisdom from the Senior", quoted from Between, Friday 26 February.

TP Rachmat, who is usually called Teddy Rachmat, said that the leader's hopes and beliefs will bring the company out of the crisis due to the COVID-19 pandemic, because with these two things a leader will be able to control what he calls "gas and brakes" in the company, when to step on the gas. and brakes to keep companies competent, contextual and relevant to the current and post-pandemic situation.

One of the largest shareholders of PT Adi Sarana Armada Tbk (ASSA), assessed that the crisis due to the current pandemic is still much better than the 1998 economic crisis.

"Currently there is no negative spread, NPL 2020 is only 3-5 percent, inflation is only 1.68 percent, there are no banking institutions that must close, and investment grade 2020 is at triple B, which is much higher than the selective default level. in 1998, "said TP Rachmat.

He also shared the important values that a CEO must have in a crisis situation, namely core values, business model, core competence, and cash flow.

"The crisis is to test how strong and in our belief in the core values that we believe in," he said.

However, he said, the disruption caused by the pandemic must also be closely watched because it will test the company's business model, core competence, and cash flow, so as to avoid unrealistic optimism that causes the company to not survive until the crisis ends.

"Crisis can be a means of forging your qualities as a person and as a leader," said TP Rachmat.

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Meanwhile, Dunamis Organization Services Partner and Head of Franklin Covey Indonesia, Tommy Sudjarwadi, who is SWA Media's partner in finding the best CEO, said that in turbulent conditions only CEOs can build "trust" among employees who can bring the company to safety.

"We all understand that the pandemic has created a multidimensional crisis that has brought rapid changes in various ways of life and business. Anyone who becomes a CEO in this era cannot escape the threat of life and death of a company," he said.

Therefore, in choosing the best CEO in 2020, a survey of company employees was conducted on the 4 important roles of CEO, consisting of inspire trust, create vision, execute strategy, and potential coach.

"The requirement is that the company he leads must have a good performance in the era of his leadership. Besides that, he also has a strong commitment to implementing Good Corporate Governance," added the Chief Editor of SWA Sujatmaka.

From the survey results, 13 names were included in the list of Best CEO 2020 versions of SWA and Dunamis Magazine, including Kuswiyoto (President Director of PT Pegadaian Persero), Didik Purwanto (CEO of PT Elnusa Trans Samudera), and Rudolf Tjandra (CEO & President Director of PT Sasa Inti. ).


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