Enterprises In Thailand Research Articles

A Study on the International Management Strategy of Small and Medium Enterprises in Thailand

A Study on the International Management Strategy of Small and Medium Enterprises in Thailand

The Interlink between Stakeholder Influence and Sustainable Practices: A Case Study of Thai Agriculture Enterprise

Nowadays, agriculture businesses have been significantly impacted by rapid global changes, compelling the agro-industry to adopt sustainable development practices to remain resilient. Moreover, the application of stakeholder theory has become essential in business management to achieve inclusive growth and fulfill sustainable business. Understanding the interlink between stakeholder pressure and the motivation to transform an enterprise’s practices into sustainable development is imperative. Therefore, this study aims to evaluate the direct pressure of stakeholder groups on sustainable practices in agriculture enterprises in Thailand through a questionnaire survey. This paper focused on the influence of primary and secondary stakeholders and evaluated the weighting of sustainability practices. The survey was conducted on employees who work in enterprises that apply Thailand’s Sufficiency Economy Philosophy (SEP). The research adopted the regression and information entropy methods for result analysis. The results showed that employees, shareholders, and competitors are significant stakeholder groups that drive sustainable capital covering economics, nature, society, and human capital. Last, stakeholder management is an outstanding practice in a SEP thinking enterprise. Concurrently, human capital is the highest priority to fulfill this alternative pathway to be successful in enterprise sustainability.

Measurement model for community enterprise management strategies

Community enterprises in Thailand are facing a highly competitive marketing challenge, an inability to hand on business to the next generation, and a lack of a flexible goods production system. This study aims to develop a measurement model for community enterprise management by surveying the expectations of 500 entrepreneurs in a community enterprise group using a questionnaire. This study uses exploratory factor analysis and confirmatory factor analysis. The objective is to develop critical strategies for overcoming obstacles and creating sustainability for organizations, comprising eight dimensions: product design management, production management, logistics management, product quality and standard management, marketing management, knowledge management, service quality management, and organization management. The study results can be used to effectively solve and improve the community enterprise's operation and continuously develop it per the entrepreneur's expectations. Moreover, the government sector can use this method to determine the policy toward supporting more sustainable community enterprises The government can also use this approach to set policies, promote the creation of an environment conducive to community enterprise operations, and create added value for community businesses through the identity of the area to support community enterprises to be more sustainable.

Relationship between Awareness and Implementation of Environmental Management Accounting–Evidence from Small and Medium-Sized Enterprises in Thailand

In this study the relationship between awareness and implementation of Environmental Management Accounting within small and medium-sized enterprises listed in Market for Alternative Investment in Thailand was explored. A descriptive and correlational study design was adopted, and questionnaires were used to collect data from 57 small- and medium-sized Thai enterprises. The results provided empirical evidence that these firms had a moderate to high level of awareness of some aspects of environmental management accounting, and were practicing it to a certain extent. Furthermore, a positive correlation (.500, p < .01) between environmental accounting awareness and accounting practice was found. Hence, this implied that when firms were aware of the impact of environmental disclosures on their operations and had access to environmental management accounting knowledge, they were more likely to adopt appropriate accounting practices. The implementation of environmental accounting among small to medium enterprises in Thailand is still in the early stages. Further support and development are required to foster implementation. Further studies are encouraged–both qualitative studies to gain deeper insights into challenges of implementing environmental management accounting, and quantitative studies about factors that would better enable its practice.

A STUDY OF FACTORS INFLUENCING WORK ENTHUSIASM OF THAI EMPLOYEES OF CHINESE ENTERPRISES IN THAILAND (THE CASE STUDY OF Z RUBBER COMPANY)

With China's "Belt and Road" and "Going Global" initiatives implemented, an increasing number of Chinese enterprises are investing and establishing operations in Thailand. Among these companies in Thailand, Thai employees constitute the primary human resources. Many Chinese enterprises still rely on management practices based on Chinese experience; however, this approach does not entirely align with the actual situation of Thai employees. This misalignment between management practices and employee realities has a direct impact on Thai employees' work enthusiasm, thereby influencing market competitiveness and sustainable development of Chinese enterprises in Thailand. Taking Z Rubber Thailand Company as an example, this paper aims to explore methods to enhance the work enthusiasm of Thai employees by drawing on previous research on employee work enthusiasm. This study conducted a questionnaire survey of Thai employees at Z Rubber Thailand Company, resulting in 312 valid responses. The analysis revealed that six factors primarily influence the job enthusiasm of Thai employees in Sino-Thai companies: job characteristics, promotion opportunities, work relationships, working conditions and environment, salary policies, and welfare policies.

Promoting Community Enterprises in Thailand: Challenges and Opportunities

Objective: The study examines how policy implementation, policy network management, and capacity building can help promote community enterprises in Thailand. Theoretical Framework: A theoretical approach has been used in this study. Concepts such as Small and Micro Community Enterprise Policies, Policy Networks, Policy Implementation, and Community Enterprise Management Potential have been considered. Method: This qualitative study examined how policy implementation, policy network management, and capacity building can help promote community enterprises in Thailand. Several government agencies and community enterprises were interviewed for the research. While community enterprise promotion policies are widely supported, there are challenges in tailoring them to local contexts and ensuring effective collaboration among stakeholders. Bottom-up and context-sensitive policymaking is needed, as well as stronger interorganizational coordination and data sharing mechanisms. Results and Discussion: The research highlights the importance of tailoring policies to local contexts, fostering collaboration among stakeholders, and addressing capacity building needs in a comprehensive manner to promote the success of community enterprises in Thailand. The findings offer guidance for policymakers and practitioners while also suggesting areas for further research to deepen understanding and inform future interventions. Research Implications: This study contributes to a more nuanced understanding of what it takes to promote community enterprises in Thailand and offers valuable guidance for policymakers and practitioners working to support community-based entrepreneurship. The findings underscore the importance of context-sensitive policies, strong collaboration among stakeholders, and a holistic approach to capacity building. Originality/Value: The study contributes to a nuanced understanding of what shapes community enterprise success in Thailand. This report offers policymakers and practitioners valuable insights into creating an enabling environment for community-based entrepreneurship.

How Could Digital Transformation Help Medium-Sized Enterprises Access Thailand’s New Capital Market Financing (LiVEx) to Support Sustainable Growth in the Digital Economy Era?

In today’s modern era, digital transformation serves as a crucial element for organizations to gain a competitive edge and optimize their operating systems. However, medium-sized enterprises in Thailand face difficulties in accessing capital market financing, despite its significance in promoting the development of small- and medium-sized enterprises according to the 13th National Economic and Social Development Plan. One potential solution to this issue is digital transformation, which can help these enterprises achieve their strategic business objectives and find a reliable source of funding while enhancing their reputation and credibility, thereby contributing to the growth of the economy as a whole. This study utilized a mixed-methods approach to explore how digital transformation can assist medium-sized enterprises in accessing LiVEx, a new capital market for Thai SMEs. We conducted extensive research and interviewed 12 senior executives across three groups, government agencies, LiVEx-listed companies, and social associations, to develop a questionnaire and conceptual model. Data collected from 360 individuals working in medium-sized enterprises in Thailand collected using an online questionnaire were then analyzed, using CFA and SEM techniques to validate the model. Our study emphasizes the importance of digital literacy, digital usage, and digital advocacy in the success of digital transformation in accessing Thai capital market financing. These findings serve as a valuable knowledge repository for future research.

The Influence of AI-CRM Adoption and Big Data Analytical Capability on Firm Performance of Large Enterprises in Thailand

Purpose: This research explores the impact of adopting AI-CRM on integration capability, team collaboration, and firm performance. Additionally, it investigates whether big data analytical capability significantly influences integration capability, team collaboration, and competitive advantage. The study delves into whether integration capability is a driver of team collaboration and assesses the influence of competitive advantage on firm performance. Design/methodology/approach: A quantitative approach was employed using a questionnaire as the primary tool. Online Google forms were distributed to 450 middle-high level management professionals across ten large enterprises in Thailand that have implemented AI-CRM and big data analytics. Sampling techniques included judgmental, convenience, and snowball sampling. Data analysis utilized Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM) to validate model fit and test hypotheses. Findings: The study revealed that the adoption of AI-CRM significantly impacts integration capability, team collaboration, and firm performance. Big data analytical capability has a significant influence on team collaboration and competitive advantage but lacks a significant effect on integration capability. Furthermore, integration capability is significantly associated with team collaboration. However, the study did not find support for the relationship between competitive advantage and firm performance. Research limitations/implications: Findings are specific to the 450 middle-high level managers in ten large Thai enterprises; caution is needed when applying results to a broader population. Furthermore, the study focused on key factors, but additional variables may influence relationships. Future research could explore a broader range of factors. The study did not deeply investigate potential mediating mechanisms between variables. Further research could explore detailed pathways connecting studied variables. Originality/value: The study provides actionable insights for businesses, particularly those in Thailand, that have implemented AI-CRM and big data analytics. Practical implications may guide strategic decisions to enhance integration, collaboration, and overall performance.

Assessing economic implications for micro, small and medium enterprises in Thailand post Covid-19 lockdown.

Micro, Small, and Medium-sized Enterprises (MSMEs) in Thailand were assessed in this study to determine the short-term and long-term economic effects of post-COVID- 19 -, with the goal of developing policy guidelines that focus on the methods and strategies that will further develop and help recover these sectors. MSMEs are the most vulnerable and require assistants to combat the pandemic. This study assesses the perspectives of stakeholders on the development of mechanisms and the strategies applied to support vulnerable groups in Thailand, which mostly consist of women and children. The main data collection was gathered through online questionnaires that were distributed to various stakeholder groups. The tools used for analysis were advanced quantitative analysis tools that aid in achieving this research study's objectives, and data was examined primarily through the usage of path modeling, structural equation modeling (SEM), and descriptive analysis was among the methods used. The findings reveal that in the short term, MSMEs' ability to respond to COVID-19 implications has a significant impact on both financial and non-financial performance. Non-financial performance, on the other hand, is more affected by adaptability than financial performance. Demand shock from lockdowns and other COVID-19 cautionary interventions has a negative and significant impact on MSMEs' adaptability, financial performance, and non-financial performance. The demand shocks increased the vulnerability of MSMEs significantly but it was found that proper management of demand shock has helped stabilized and improve MSMEs' financial and non-financial performances, as well as helped decrease their vulnerability. When it comes to government policy, the focus is usually on enhancing the flexibility and financial performance of MSMEs. The government's legislative actions have little impact on MSMEs' non-financial performance and vulnerability. This could be because the majority of the programs are more focused on providing financial assistance to businesses or their consumers. COVID-19's supply and demand shock only hindered MSMEs' ability to respond to the changes and challenges caused by the pandemic, according to vendors. The vulnerability of MSMEs caused by COVID-19 creates grave effects on their financial performance. The findings of this research paper will assist policymakers in identifying the most vulnerable aspects of MSMEs, as well as their expectations- and determine the forms of support that will be required to combat the current and future pandemic situations that may occur in Thailand. In addition, it will aid policymakers in the establishment of procedures and supporting strategies for MSMEs to reduce the unemployment rate and stimulate the Thai economy, among other factors of improvement.

Driving policy support for open eco-innovation enterprises in Thailand: A probit regression model

Open eco-innovation, which involves collaborative processes to develop environmentally sustainable solutions with diverse stakeholders, heavily relies on collaboration. This study aims to address this research gap in open eco-innovation by (1) examining perceived support and participation in an open innovation program for SMEs, predicting the outcomes of open eco-innovation, and (2) providing a foundation for a targeted public policy program. A sample of 495 SMEs in Thailand was analyzed using multiple probit regressions to understand how different forms of support and participation in open innovation programs affect the probability of open eco-innovation. Findings indicate that SMEs with uncertain internal open innovation programs are more likely to decrease the predicted probability of open eco-innovation. For instance, Thai SMEs investing in R&D and network activities may lack a clear pathway to enhance their eco-innovation capabilities, resulting in reduced R&D alliances and joint ventures. Practically, it is advised that SMEs carefully consider the advantages and disadvantages of open innovation before developing eco-innovation capabilities. Moreover, the study offers empirical evidence on the open innovation activities that influence SMEs' engagement in open eco-innovation. From a policy perspective, policymakers should prioritize creating a supportive environment, such as enhancing green cooperation. The originality of this paper lies in the use of a probit regression model to analyze factors influencing open eco-innovation and a logic model to provide actionable steps for promoting it.

An Analysis of Multigenerational Issues of Generation X and Y Employees in Small- and Medium-Sized Enterprises in Thailand: The Moderation Effect of Age Groups on Person-Environment Fit and Turnover Intention.

Multigenerational employees can evidently impact human resource management practices in terms of effective employee retention. Arguably, a high turnover intention of young employees can hinder a company's human resource development, while a high volume of retirement of senior employees can create a skill deficit and even a labor management dilemma. This study explored how a supportive work environment can retain employees of different age groups in Thailand's small- and medium-sized enterprises (SMEs), particularly Generation X and Y. It modeled a supportive work environment that impacts the behaviors of Generation X and Y employees, taking into consideration the relationship among factors such as person-job fit, person-group fit, person-supervisor fit, person-organization fit, person-environment fit, and turnover intention. This paper statistically analyzed a set of data drawn from an attentive survey of a total of 400 employees of SMEs in 4 populous provinces in Thailand using structural equation modeling (SEM) and multigroup analysis (MGA) with the moderation effect of generations. This paper then found that person-job fit, person-group fit, person-supervisor fit, person-organization fit, person-environment fit, and turnover intention can influence an employee's intention to remain in his/her job. Additionally, the relationship manipulation among the aforementioned variables might influence Generation X and Y employees differently. Under the circumstances, supervisory support with less group involvement may encourage the retention of Generation Y employees, whereas a sufficient focus on job suitability could improve the retention of Generation X employees.

Effect of innovations in human resource practices, innovation capabilities, and competitive advantage on small and medium enterprises’ performance in Thailand

This study examines the performance of wholesale and retail small and medium enterprises in Thailand, which are integrating innovations in human resource practices, innovation capabilities, and competitive advantage. The data sample comprises 260 small and medium enterprises located in the Eastern Economic Corridor, Thailand. The data were analyzed using quantitative and structural equation modeling. The study finds a significant relationship between innovations in human resource practices, innovation capabilities, competitive advantage, and SME performance. The significant success factors of innovations in human resource practices indirectly affect SME performance through the mediation of innovation capabilities and competitive advantage. These outcomes help develop long-term and business performance effectiveness, as the essential human resource factors and innovation capabilities practices of the current extremely competitive industry will intensify with the digital disruption era.

Social innovation: relationships with social and human capitals, entrepreneurial competencies and growth of social enterprises in a developing country context

PurposeThis study aims to examine capital and competency variables – human capital, social capital and personal entrepreneurial competencies – in relation to social innovation development and growth of social enterprises in a developing country with an emerging social enterprise sector: Thailand.Design/methodology/approachA hypothetical-deductive approach was adopted and a quantitative survey by questionnaire was applied to collect data from owners/top management of 103 social enterprises in Thailand. The data were used to test hypotheses and further analysed using partial least squares technique.FindingsThe results revealed that there were positive direct and indirect (mediating) relationships between human capital, social capital, personal entrepreneurial competencies and social innovation development and growth of Thai social enterprises. Skills and training were key determinants of human capital, whereas social interaction, trust, social identification and shared knowledge were key determinants of social capital which affected social innovation development. Goal orientation, information seeking, opportunity seeking, persuasion and self-confidence were key determinants of entrepreneurial competencies that also affected social innovation development. This study ultimately revealed the mediating effects of social innovation development on the relationships between capital and competency variables and the growth of social enterprises.Originality/valueThis study fills the research gap, from the theoretical perspective, by identifying capital and competency variables as well as their additional determinants that are divergent from previous literature, which can potentially influence the social innovation development of social enterprises, and where only limited research is evidenced. From an empirical perspective, this study attempts to investigate the associations between these variables and growth indicators in the context of social enterprises in a developing nation, where its sector is in its infancy. This study further helps to clarify the existence of the direct and indirect (mediating) effects of social innovation development in the context of the economic and social accomplishments of social enterprises.

Evaluating Competitiveness in the Supply Chain Management of Small and Medium Scale Enterprises

This research investigated Supply Chain Management (SCM) in Small and Medium Enterprises (SMEs) in Thailand, Slovakia, and Poland and compared the SCM practices among the three countries. The sole purpose was to first determine the various factors that influence SCM operations and SCM practices in each of the countries and then find out whether there is a difference among the three countries in terms of SCM operations and practices. The study was conducted using primary data collected from SME management personnel from the three countries. A structured questionnaire was used to collect the data using a 5-point Likert scale. The data was analyzed using multi-group Structural Equation Modeling (SEM). The results of the study indicated that supply chain management practices and operations adopted by the small and medium enterprises in Thailand, Slovakia, and Poland were invariant. The environmental sustainability elements in SCM and the social aspects of sustainability in SCM have positively influenced SCM practices in all countries. The study recommended that SMEs in the countries should consider adopting the factors that support SCM, operationalizing the SCM through enhancing the capabilities of the end-user, and vitally taking into consideration the environmental sustainability elements in SCM, such as environmentally-friendly production processes, taking action towards waste management, and adopting production processes that inhibit the emission of harmful substances into the atmosphere by encouraging the implementation of policies that foster the use of renewable energy sources in production.

Business Survival in Times of COVID-19: Empirical Evidence from Tourism Enterprises in Thailand

The impact of COVID-19 has been extensively explored, but little research has been conducted on its impact on business sector adaption. This study analyses business adaptation and business survival in the face of the COVID-19 pandemic by focusing on tourism enterprises in Thailand as a case study. Based on a survey of 316 tourism enterprises taken during the pandemic, the survey found that the pandemic resulted in the decline in revenues of most enterprises, and more than half of businesses tried to survive by reducing wages, reducing the number of branches and cutting back on store-opening hours. Using the Cox Proportional Hazard Model to predict length of business survival from the pandemic, it was found that most enterprises were unable to survive for more than 6 months (after the survey). Survival was found to be shorter in areas and business sectors that relied mainly on foreign tourists. Therefore, as for business implications, the traditional business model should be adapted to meet the needs of tourists in their new post-COVID lifestyles. In addition, tourism businesses need to focus on human resource management. Moreover, each type of tourism business needs to adapt its service model in different ways in order to meet the challenges of catering to a new normal.

Marketing Strategies with Government Support Affecting the Marketing Success of Small and Medium Enterprises in Thailand

Small and medium-sized businesses play an important role in the economic development of countries around the world, including Thailand. This research aimed to study the direct effects of offline and online marketing strategies on the marketing success of Thai enterprises. It also examined the moderating effect of government support on the relationship between offline and online marketing strategies and Thai enterprises’ marketing success. A quality-validated questionnaire was used as the study tool, and data was obtained using a stratified random sampling method. The PLS-SEM method was used to statistically analyze the data of 236 Thai entrepreneurs. The findings revealed that offline and online marketing strategies had a significant positive impact on the marketing success of Thai enterprises. The study, however, revealed no evidence of a moderating effect of government support on the relationship between offline and online marketing strategies and Thai enterprises’ marketing success. The study recommends that Thai small and medium enterprises should concentrate on both offline and online marketing techniques, since this has a significant impact on their marketing success, and this concentration will eventually contribute to the enterprise's success.

Development of a Training Course: A Needs Assessment Approach to Enhance the Facilitator Technique for Thai Community Enterprises

As the Thai government's policy requires community enterprises to be able to solve problems by themselves and be self-reliant, this study was conducted to assess and prioritize the needs of facilitator skills to enhance the facilitator technique in developing a training course for Thai community enterprises. The data was collected from 137 members of the community enterprises in Thailand. The research instrument was a need assessment questionnaire on the actual situation and expected situation towards skills of facilitator for community enterprises. The statistics used to analyze the data included mean (X ̅), standard deviation (SD) and Priority Needs Index Modified (PNIModified). It is suggested that the results of this study should be applied in the development of training courses to enhance the ability of facilitator of community enterprises. The findings present new knowledge on facilitator techniques, which community enterprise members can use to develop an economic system of the community self-sufficiency.

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

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

Causal relationship model of green logistics management and lean management affecting food and beverage industrial performance in Thailand

This research aims to study the effect of green logistics management and lean management on environmental performance and industrial performance of food and beverage industry in Thailand. The research was designed as quantitative. The sample consisted of 430 food and beverage enterprises in Thailand. Data were analyzed using structural equation modelling (SEM) technique. The findings revealed that green logistics management and lean management influence environmental performance and industrial performance of the food and beverage industry in Thailand at a statistical significance level of 0.05 with the statistical values of c2= 99.472, df = 83, p-value = 0.105, c2/df = 1.198, RMSEA = 0.022, RMR = 0.009, GFI = 0.976, AGFI = 0.945, CFI = 0.998, which can predict 77.80% of industrial performance. This indicates that that green logistics management and lean management can help improve performance of organizations and industries, enabling them to compete and survive in a dynamic business environment. Not only do green logistics management and lean management help improve financial performance, but they also help protect the environment, leading organizations to develop sustainable growth.

Competencies of Accounting Professionals and Quality of Financial Reporting: Evidence from Enterprises in Thailand

Quality financial reporting positively benefits business development and economic decisions. It is essential for growth-oriented enterprises to ensure the quality of financial reporting to enhance performance. This study empirically examined accounting professionals’ opinions on their competencies and quality in financial reporting. The data were collected from 381 samples. The instruments used for data collection were a self-administered survey and in-depth interviews. The results showed that the overall mean scores of competencies and quality of financial reporting were 4.31 and 4.37 respectively. Consequently, for higher levels of competency, this study suggests enhancing the following issues: professional knowledge (namely on economics, taxation and business laws and regulations), professional ethics (namely in finance and financial management), operational skills (namely financial reporting skills), organizational management skills (namely on business and organization of the environment) and adaptive skills for the digital age (namely information technology). In addition, for higher report quality, this study suggests enhancing the following areas: relevance to decision-making (such as objectives, procedures and methods), credibility (namely assurance and audit) and verifiability (namely governance, risk management and internal control). The findings of this study contribute what has been theoretically ignored and may be part of the revised conceptual framework suggested for future inquiry.