The Influence of Entrepreneurial Leadership on Organizational Performance of Small and Medium Enterprises in Thailand during COVID-19 Pandemic

Abstract

In Thailand, small and medium enterprises (SMEs) have played a significant role in promoting economic growth and sustainable development. Thai SMEs constitute a major source of employment, generate significant earnings, and contribute to the country's gross domestic product (GDP). Accordingly, the 4th SME Promotion Master Plan (2017-2021) has put a significant emphasis on upgrading Thai SMEs and increasing their growth potential. However, Thai SMEs still have problems and limitations, for instance, almost all are small enterprises, few medium enterprises, management system limitations, only a minority of SMEs able to compete in the international market, and a continuous trade deficit. Furthermore, the COVID-19 pandemic has further the slowdown in the economic growth of SMEs. (The Office of SMEs Promotion, 2022). Therefore, SMEs need to continuously improve and develop organizational performance to compete in the domestic and international markets. It is important to understand how SMEs can continue to grow and compete in the markets. Previous research in the business management literature indicates that there are several factors that account for the development of SMEs including CEO Attributes, leadership styles, and human resource management. Recent research also reveals that in order to survive the new normal imposed by COVID-19 and the market competition, several SMEs have adopted technical innovation and marketing and processes innovation (Akpan et al., 2020; El Chaarani et al., 2021). Keywords: Entrepreneurial Leadership; Intellectual Capital; Innovation; Organizational Performance