Buddhist socio-cultural influences on entrepreneurial actions and performance: case of rural Thailand

Abstract

This study examines entrepreneurs in the Buddhist socio-cultural setting of rural villages of Thailand. Avoiding conflict is a cultural norm and business challenge for Buddhists, who have social and ethical obligations to present oneself as avoiding 'clashes' at any cost, particularly in a rural environment that is fraught with uncertainty and the 'triple jeopardy' effect. A total of 178 rural small business respondents from 31 Buddhist provinces with different economic development were obtained through interview-based field research using a survey questionnaire administered in-person on-site. Although the Buddhist context fosters peace loving entrepreneurs, it was found that non-financial success matters more, 'reactive' actions were taken in response to competition instead of aggressive preemptive actions, and there was positive correlation between proactiveness, risk-taking and innovativeness. This suggests the need to consider alternative models of socio-economic development that offer a more holistic and balanced approach for rural Buddhist entrepreneurs.