Business In Thailand Research Articles

Management Accounting Practices and Financial Performance of Hotel Business in Thailand: Are Contingency Theory Perspectives Still Relevant During the Covid-19 Pandemic?

This study examines the impact of perceived uncertainty on management accounting practices (MAPs) and financial performance in Thai hotels during the COVID-19 pandemic. Using Generalized Structured Composite Analysis (GSCA), results show that uncertainty significantly influences MAP implementation, enhancing financial performance. MAPs partially mediate the relationship between uncertainty and performance, indicating their role in addressing uncertainty but not fully explaining performance outcomes. This research highlights that MAPs should be seen not just as reactive measures but as proactive tools for building resilience in dynamic environments, offering insights into contingency theory application.

Sustainable supply chain management challenges analysis in local plastic recycling business

Sustainable supply chain management (SSCM) has become the key concept for every industry in managing their supply chain system by focusing on three aspects: economics, social, and environmental. Even though the implementation of SSCM will help the industry increase the efficiency of supply chain management, some challenges make the firms cannot implement the SSCM concept well and unsuccessful. The challenges of SSCM implementation need to be identified and managed to overcome these challenges and increase the efficiency of SSCM management. Therefore, this study aims to identify and analyze the challenges to SSCM implementation in the case of the local plastic recycling business in Thailand. The questionnaire was used to collect data from plastic recycling business experts. The best-worst method was used to analyze the significant challenges and prioritize ranking the SSCM implementation challenges. The results of this research found that management challenges are the first rank which lack of the policy and strategy for SSCM is a critical sub-challenge in the management dimension. The financial challenges are the second rank for SSCM due to the local plastic recycling business still being faced with financial constraints, which is the critical sub-challenges in the financial dimension, and the technology challenges are ranked last, which presented that it is less critical for SSCM in the local scale. Furthermore, the research conclusion and the guideline for the research direction of this research are presented

Future workforce skills for hospitality and tourism business in Thailand

Currently, the hospitality and tourism industry in Thailand is at a state of great flux. This, therefore, calls for a highly competent and versatile workforce to deal with this situation. For this paper, we shall attempt at providing an overview of the current skill set from the current workforce involved in the hospitality and tourism industry in Thailand. We also attempt to identify the prevailing opinions of the managerial personnel on different work aspects, which include the perception of the skills that Thai workers possess. Moreover, the paper looks at what the managers would want and hope for in the future workforce, and the strategies applied to develop such skills in workers soon. This qualitative research approach is employed to dig deep into the minds of key decision makers in Thailand by way of in-depth, one-on-one, or small group interviews to document and consolidate the insights and viewpoints of distinguished executives and top-level decision makers belonging to prestigious hotel and tourism conglomerates in Thailand. The findings of our research unmistakably indicate that the hospitality industry in the country is doubtless in a growth and prosperous period, where it successfully meets various and constantly changing preferences among tourists coming for different purposes. With the tourism industry in Thailand mushrooming, it is vital to establish what has contributed to such success. With more and more people globe-trotting and with tourists pouring in droves into Thailand, the need for a skilled workforce within the hospitality industries is at an all-time high. It therefore becomes relevant during these times of change to identify the skillset of the personnel at work within this vibrant industry. Deep inside the minds of managerial professionals, we can gain a clear insight into how they perceive the current workforce. By conducting comprehensive interviews on an individual and small group basis, we hope to capture the capability and strengths of the Thai workforce with a great degree of subtlety. Second, we also attempt to find out what aspirations and expectations the managers have from the future workforce. The resulting skills and competencies will have to be identified as the industry continues to evolve, but by exploring strategies utilized to develop such skilled labor, we expose the preparations being made for the workforce of tomorrow. Our qualitative research methodology enables us to interact directly with key decision-makers in the industry. We have thus gathered much information and opinion by involving those senior executives and senior-level decision makers of reputed hotel and tourism conglomerates. Their valuable insights helped us to closely look into the current scenario and aspects which still needed to be improved. Our findings clearly revealed that the hospitality industry in Thailand is one of the fastest growing and most successful sectors. It has satisfactorily adapted to the increasing and changing tastes and preferences of the tourists coming from different parts of the world. On the other hand, innovation and high-quality service have allowed this industry to satisfactorily address the needs and desires of its guests. Conclusion Our study puts light on the change which the hospitality and tourism industry of Thailand is experiencing at present. The following sections provide a broad outline of the skillset of the workforce, based on in-depth interviews with managerial professionals. We have taken a closer look at what industry leaders expect and/or hope for in the future workforce, and how they are developing the skills necessary to meet those expectations. This research supports the notion that the hospitality industry is increasing its growth to meet the demands of a multifaceted global customer base.

The Influence of Logistics Activity on Sustainable Performance of Air Cargo Business in Thailand

This research applies logistics management concepts to sustainable business operations in the context of air cargo businesses in Thailand. The study aims to understand how logistics activities impact the sustainable performance of air cargo businesses. The objectives of this study were to examine: 1) logistics activities in air cargo businesses in Thailand, and 2) the influence of logistics activities on the sustainable performance of the air cargo business. This study consists of descriptive research, utilzing a questionnaire for data collection. The sample consisted of 424 employees of air cargo businesses operating in Thailand. The findings reveal that all 9 logistics activities significantly influenced the sustainable performance of air cargo businesses in Thailand, in terms of economic, social, and environmental performance, where Customer Services and Support (CSS) had the highest average value with a mean value of 5.90 (S.D. = 0.723). Regarding the results of the study of influences, Facilities Site Selection, Warehousing, and Storage (FWS) was found to strongly impact Economic Performance (ECOP) with a β value of .740. Meanwhile, Reverse Logistics (RL) had the greatest impact on Social Performance (SOCP) with a β value of 0.843, and Transportation (TRAN) had the greatest influence on Environmental Performance (ENVP), with a β value of 0.749. The findings can support the introduction of business guidelines to enhance competitiveness and enable the achievement of sustainable success, offering encouragement for Thailand as a key air cargo hub for Southeast Asia. Moreover, the study can be used to enhance academic knowledge in the field of logistics and contribute to the future sustainable performance of the air cargo business.

The causal factors of transformational leadership and sufficiency economy philosophy practice influencing the performance of coast tourism business in Thailand

Purpose Transactional leadership and old-school management practices may not answer the changes in today’s world. Therefore, the study aimed to examine the influences of transformational leadership and the practice of sufficiency economy philosophy (SEP) on the performance of the coast tourism business in Thailand.Design/methodology/approach The population of this study comprised all Thai coast tourism businesses. Using simple random sampling, the quantitative data were collected from 407 coast tourism businesses in Thailand as the samples. Transformational leadership, SEP practice and business performance were adapted from the literature. Path analysis and factor confirmation including a correlation matrix were used to test the causal factors influencing the Thai coast tourism business’s performance.Findings Transformational leadership, SEP practice and performance of coast tourism business in Thailand were on a high level. Moreover, there were positive influences of transformational leadership (direct and indirect) and SEP practice on the coast tourism business’s performance.Practical implications Tourism business managers should pay attention to transformational leadership and SEP practice to lead to better performance for their businesses. Policymakers should educate businesses about new management practices to prepare for the changes in the future.Originality/value The findings of this study demonstrate that stakeholder theory can be used to explain the positive influences of transformational leadership and SEP practice on the coast tourism business’s performance in Thailand.

A PURPOSE CONCEPTUAL FRAMEWORK TO EXAMINE THE CORRELATON OF LOGISTICS SERVICE QUALITY, LOGISTICS PERFORMANCE & COMPETITIVE ADVANTAGE OF LOGISTICS SERVICE PROVIDERS IN THAILAND

The logistics service offers a crucial role in the process of developing into the worldwide market. Several nations must enhance their logistics service operations to achieve strong performance and attain a competitive edge in the market. Logistics service quality is a crucial element in Thailand's logistics operations. It is a major feature in developing a new conceptual model for logistics service performance, which is essential for achieving competitiveness in the logistics sector. The aim of this study is to investigate the relationship between the framework of logistics service quality, logistics performance and competitive advantage of logistics service provider (LSPs) firms in Thailand. This study utilizes primary data and applies a quantitative methodology, involving the collecting and analysis of research data using a strategy that emphasizes quantification. The sample will be LSPs companies in Thailand. The future data in this study will be analyzed using the statistical software packages SPSS and Smart PLS. Partial least squares structural equation modelling (PLS-SEM) is a statistical method employed for data analysis, with the primary goal of enhancing the research model. Thus, the study presents a conceptual framework that suggests that enhancing service quality can improve the logistics performance and competitive advantage of the logistics service provider business in Thailand.

BROTH: The Broad Recommender Ontology for Thai Herbs

With Thailand rapidly embracing digital technology, this paper explores how to bridge the gap between traditional Thai herbal remedies and modern healthcare practices. Thai herbs possess a vast array of medicinal properties, from anti-inflammatory and antimicrobial to antioxidant and pain-relieving. This research introduces the Broad Recommender Ontology for Thai Herbs (BROTH), a comprehensive database designed to encompass various aspects of these herbs. BROTH incorporates botanical data, local Thai names, medicinal uses, recommended plant parts, preparation methods, and even local market availability. Furthermore, a smartphone application utilizing BROTH has been developed as a recommender system. Users can search for herbs in Thai using text or voice recognition. The app then connects them with local vendors selling the desired herbs. This project aims to achieve a dual benefit: improving the health of Thai citizens, particularly the elderly, while simultaneously supporting local herb farmers. The System Usability Score (SUS) administered to 75 users resulted in a score of 83.6, which shows high usability. The BROTH recommender system has the potential to positively impact both public health and local businesses in Thailand.

Causal Factors of Competitive Advantage Influencing Operations of the Mattress Product Business in Thailand

Causal Factors of Competitive Advantage Influencing Operations of the Mattress Product Business in Thailand

Model the Quality of Tourism Travel Business in Thailand

The objective of this research was (1) to study to study factors affecting the service quality of tour businesses in Thailand. (2) To analyze the service quality of tour businesses in Thailand. (3) To develop a service quality model of tour businesses in Thailand. This research is a mixed methods research. During quantitative research and the qualitative research of the population studied this time includes tour operators in Thailand, totaling 2,821 people tour operators in Thailand. The sample size was determined according to the criteria of Hare et al., resulting in a total sample population of 460 people and qualitative research. A purposive random sampling method was used for 15 people, including entrepreneurs and executives. The tool used to collect data was a questionnaire using structural equation modeling techniques. Major Findings: (1) The service quality model of the tour business in Thailand includes the competitive advantage of the tour business. Entrepreneurial Focus acceptance of technology Market focus business adjustment business innovation and service quality of the tour business (2) Competitive advantage of travel business Entrepreneurial Focus acceptance of technology Market focus business adjustment and business innovation Affecting the quality of service of the tourism business. (3) Models of service quality of tour businesses in Thailand that affect the service quality of tour businesses. There is a connection with each other. Competitive advantage of travel business Entrepreneurial Focus acceptance of technology Market focus business adjustment business innovation.

Approaches to Developing the Manufacturing Industry of Small and Medium Enterprises for Readiness Towards Large Businesses in Thailand

This research aims to 1) study the structure and operational characteristics of the manufacturing industry in small and medium-sized enterprises (SMEs) in Thailand for readiness towards becoming large-scale businesses; 2) investigate the components of development approaches for the manufacturing industry in SMEs for readiness towards becoming large-scale businesses; and 3) develop a structural equation model (SEM) for the development approaches of the manufacturing industry in SMEs for readiness towards becoming large-scale businesses. The study employed a mixed-methodology approach, incorporating both quantitative and qualitative research. The qualitative research involved in-depth interviews with a sample of 9 experts from 3 different groups: 3 entrepreneurs or executives in the manufacturing industry, three from the government sector, and three academics. For quantitative research, data was collected via surveys from 500 entrepreneurs or executives and analyzed using frequency, percentage, average, standard deviation, and structural equation modeling (SEM) with the advanced statistical analysis software AMOS. The research on the general characteristics of organizations found that they have been operating for 10-15 years, are predominantly Thai-owned, use financial institutions for funding, are established as limited companies, and mostly have offices located in Thailand. In terms of structure and operational characteristics, the research revealed that the most suitable business strategy for these organizations is creating a product advantage, emphasizing mentorship systems from knowledgeable employees, and key leadership qualities, including treating colleagues with kindness and generosity and developing leadership at various levels focusing on experience, comprehensive knowledge, and business expertise.The study on the importance of different components indicated that all aspects were highly important, with the order of importance from highest to lowest being digital technology, entrepreneurial leadership, knowledge management, and innovative organization. The results of the analysis of the structural equation model for small and medium-sized enterprises management for sustainable strength found that the chi-squared probability (CMIN-r) was 0.128, the relative chi-squared (CMIN/DF) was 1.126, the GFI was 0.955, and the root mean squared index of error estimation (RMSEA) was 0.015. It can be concluded that the model is consistent with the empirical data.

BUSINESS PARTNERSHIPS, PERSONNEL COMPETENCY, AND MARKETING STRATEGIES INFLUENCING THE SUCCESS OF TOURISM BUSINESS OPERATIONS IN THAILAND

In this study, an attempt has been made to examine factors affecting the success of various types of tourism business in Thailand. A total of 100 copies of the questionnaires were given to operators and managers engaged in tourist businesses in Thailand. These respondents were chosen by Proportionate Random Sampling-a method that ensures an unbiased cross-section from every section of society. The statistical methods used in data analysis include percentage calculation ; determining a mean value for all readings ; assessing standard deviation; analysing frequencies and multiple regression analysis. Entrepreneurs in Thailand's tourism industry have indicated that for the success of their operations marketing strategy, personnel competency, and business partnerships are the most important factors. When the study carried out the hypothesis tests it showed that price, place, and product (the 4Ps of marketing mix) location, and physical surroundings on one hand skills of human resource management to bring employees together while business partnership are positively correlated with success in operating a tourism business statistically.

The Impact of Information Reliability and Cloud Computing Efficiency on Website Design and E-Commerce Business in Thailand

The Impact of Information Reliability and Cloud Computing Efficiency on Website Design and E-Commerce Business in Thailand

Corrigendum: A community sustainability ecosystem modeling for water supply business in Thailand

Corrigendum: A community sustainability ecosystem modeling for water supply business in Thailand

SCOR model factors affecting the success of food delivery business in Thailand

SCOR model factors affecting the success of food delivery business in Thailand

IMPROVING MATERIAL REQUIREMENTS PLANNING THROUGH WEB-BASED: A CASE STUDY THAILAND SMEs

In the small business industry, effective cost control is of paramount importance. A well-functioning Material Requirements Planning (MRP) process plays a vital role in enabling businesses to manage their costs efficiently. This research paper explores the improvement of MRP in the context of small businesses in Thailand through the implementation of a web-based application. The objective was to enhance the MRP process by developing an MRP system using ReactJS, NodeJS, and PostgreSQL. The system was evaluated using heuristic evaluation techniques and the results indicated a positive outcome, the mean value is 0.83. The developed web based MRP system proved beneficial for small businesses, as it effectively reduced stocking costs and facilitated efficient raw material procurement. This research provides valuable insights into the implementation of web based MRP systems, enabling small businesses to optimize inventory management and enhance operational efficiency.

Utilizing Net Promoter Score To Assess Customer Satisfaction And Brand Loyalty In The Real Estate Industry Of Thailand

This research aimed to examine the net promotion score to gauge customer satisfaction and brand loyalty of Real Estate businesses in Thailand. This research was focused on assessing the loyalty and satisfaction of customers towards the business of residential houses. In Thailand, the real estate market is expected to rise by 6 percent in 2018. The core aspects that lead the housing market comprise of global economy that tend to enhance exports to enhance public investments. The research was emphasized on studying the Net Promoter Score of Home and Condominium businesses. The research adopted a quantitative research method to examine the objectives of the study. The research applied random sampling techniques based on the selective sampling in each region which is urban with housing estates and condominiums dense in the region based on the East, Central, North, West and South. The research comprised of the simple sampling of two housing projects in each provide along with six projects in Bangkok and within its vicinity including around 18 projects. The information for the research paper was collected from the customers who live within housing estates and condominiums in Bangkok. The open-ended research questionnaire was designed based on 5-10 level questionnaire based on customer loyalty and satisfaction. The research concluded that based on customer perspective, this aspect need to be enhanced to have maximum service satisfaction in entire 5 aspects. It is revealed that with high satisfaction level, it would drive to high degree of acceptance, word-of-mouth and recommendation outcome in higher NPS which was confirmed by research that determined the relationship and impact of satisfaction, indicating the statistically significant influence of brand loyalty.

Corporate social responsibility, board characteristics, and family business in Thailand

AbstractExploring the relationship between corporate social responsibility (CSR) strategy, family business, and board characteristics in Thailand provides invaluable insights into how boards of family businesses integrate CSR considerations, leading to responsible business practices and sustainable development in Thailand. Relying on the top 100 listed firms in the Stock Exchange of Thailand and the Refinitiv's CSR strategy score, we find that family business firms or firms with CEO serving as the chairman of board engage less CSR strategy, being consistent with the agency cost hypothesis and the expropriation view of family businesses. Additionally, in line with the resource dependency theory, female directors, independent directors, board tenure, and board size positively influence a firm's CSR. Additional analyses including the Heckman's sample selection bias and 2SLS instrumental variable approaches show that our results are robust and are not driven by unobserved heterogeneity. More importantly, gender diversity is an exemplary governance mechanism as it is the only board characteristic with a positive effect on CSR in both family and non‐family sub‐samples. While board tenure is positively associated with CSR in the non‐family business sample, larger board size and more board independence in the family business positively influence a firm's CSR. Findings from the family business sample support the functional view of board and socioemotional wealth of family firms.

Exploring the Relationship Between Entrepreneurial Orientation, Innovation and Financial Performance: The Mediating Role of Absorptive Capacity and Technological Innovation Capability

The purpose of this research was to study the relationship between entrepreneurial orientation, innovation and financial performance, through the mediating role of absorptive capacity and technological innovation capability. The study used a quantitative research method to collect data via questionnaire from the executive officers of 156 startup organizations in Thailand. Respondents were selected using a simple random sampling method and Structural Equation Modeling (SEM). The results demonstrate that entrepreneurship orientation is a variable directly and significantly correlated with innovation and financial performance. However, it was found that entrepreneurship orientation does not correlate indirectly with innovation or financial performance via the mediation of absorptive capacity and technological innovation capacity. The results of the study can enable startup businesses in Thailand to create and pay attention to the behavior of entrepreneurship orientation to improve the organization’s innovation and financial performance.

The Development of Recreational Scuba Diving Amid (COVID)-19: An Exploratory Interview Study About How Dive Tourism is Adapting to the New Normal

The recreational scuba diving industry plays an important role in coastal countries of Southeast Asia with a significant economic contribution toward tourism receipts. Recreational scuba diving is one of the fastest growing tourism industries around the world, although that accelerated growth was largely impaired by the coronavirus outbreak. The study aims to investigate how scuba diving businesses in Thailand are adapting to the new normal. An exploratory framework serves as the basis to collect empirical data through 25 semistructured in-depth interviews with business owners and industry experts. The following themes were identified through the thematic analysis: business model scaling, global competitiveness, environmental sustainability, domestic market and customer behavior, and government measures and support. The article concludes by discussing the results and providing implications for policymakers, tourism researchers, and scuba diving business owners.

The Quality Development of Brand Equity in Online Health and Beauty Businesses in Thailand

The results of this research, a new model has been found related to creating value for health products and online work in Thailand. That affects the views and intentions of investors towards the health and beauty business. The findings show that the quality development of brand equity in online health and beauty business investors' views and intentions. This study uses qualitative and quantitative methods to collect and analyze data. Step 1: e- Delphi qualitative research. Method: twenty-one experts received an email questionnaire to complete online. Two parts of the questionnaire were open-ended and closed-ended with a seven-level rating scale. Step 2: quantitative research involves an online questionnaire to interview and collect data from 600 health and beauty businesses, sellers, and traders. Results of analysis of structural equation testing of factor models influencing brand crosses of online health and beauty product entrepreneurs in Thailand. Variables include Marketing Factors, Online marketing and social media marketing activity, Brand association, perceived quality, brand awareness, brand image, brand trust, brand loyalty, and brand equity, totaling 9 latent variables and 46 observed variables. Considering the regression coefficient of independent variables in the form of standard scores, but in the rapidly growing online health and beauty product market in Thailand Developing and maintaining brand quality has become a key factor for business success. This is in line with the study's objective to provide valuable insights into the dynamics of brand quality within the context of online health and beauty businesses in Thailand.