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

Chuanling Zhang; Vichit U-on

doi:doi:10.11648/j.ijefm.20241205.20

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

Chuanling Zhang^*, Vichit U-on

Published in International Journal of Economics, Finance and Management Sciences (Volume 12, Issue 5)

Received: 21 September 2024 Accepted: 14 October 2024 Published: 31 October 2024

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Abstract

In the context of global economic integration, information technology accelerates economic transformation, international division of labor, and enterprise competitiveness in the global development chain. As a result, international management has become a critical strategy for businesses seeking to enhance competitiveness and ensure sustainable development. For Thailand’s small and medium-sized enterprises (SMEs), economic globalization presents both new opportunities and challenges. However, much of the current research on international management in Thailand focuses on large corporations, leaving SMEs underexplored, particularly in their internationalization strategies. This study employs a qualitative research methodology, involving a comprehensive literature review, case studies, and interviews with key stakeholders in Thai SMEs. The data were analyzed using thematic analysis to identify core challenges and strategies for SME internationalization. The research takes a problem-solving approach, examining the inevitability of SME internationalization in Thailand. It explores key issues such as the feasibility of international operations, critical success factors, and the role of government policy in supporting international management efforts. The findings reveal that Thai SMEs face substantial pressure to internationalize due to the increasing globalization of domestic markets. However, their success in international ventures is contingent on addressing internal challenges such as limited resources, strategic planning deficiencies, and external issues like regulatory barriers and competitive pressures in the international arena. This research contributes to the theoretical understanding of SME internationalization by expanding the focus to smaller enterprises, which have been largely overlooked in the Thai context. Practically, the study offers strategic recommendations for Thai SMEs to enhance their international management capabilities. It also highlights the critical role of government policies in facilitating successful SME internationalization, providing actionable insights for both business leaders and policymakers.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 12, Issue 5)
DOI	10.11648/j.ijefm.20241205.20
Page(s)	329-335
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Small and Medium Enterprises, Theoretical, Internationalized Operations, Market Positioning, Management Strategies

References

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Zhang, C., U-on, V. (2024). A Study on the International Management Strategy of Small and Medium Enterprises in Thailand. International Journal of Economics, Finance and Management Sciences, 12(5), 329-335. https://doi.org/10.11648/j.ijefm.20241205.20

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ACS Style

Zhang, C.; U-on, V. A Study on the International Management Strategy of Small and Medium Enterprises in Thailand. Int. J. Econ. Finance Manag. Sci. 2024, 12(5), 329-335. doi: 10.11648/j.ijefm.20241205.20

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AMA Style

Zhang C, U-on V. A Study on the International Management Strategy of Small and Medium Enterprises in Thailand. Int J Econ Finance Manag Sci. 2024;12(5):329-335. doi: 10.11648/j.ijefm.20241205.20

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@article{10.11648/j.ijefm.20241205.20,
  author = {Chuanling Zhang and Vichit U-on},
  title = {A Study on the International Management Strategy of Small and Medium Enterprises in Thailand
},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {12},
  number = {5},
  pages = {329-335},
  doi = {10.11648/j.ijefm.20241205.20},
  url = {https://doi.org/10.11648/j.ijefm.20241205.20},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20241205.20},
  abstract = {In the context of global economic integration, information technology accelerates economic transformation, international division of labor, and enterprise competitiveness in the global development chain. As a result, international management has become a critical strategy for businesses seeking to enhance competitiveness and ensure sustainable development. For Thailand’s small and medium-sized enterprises (SMEs), economic globalization presents both new opportunities and challenges. However, much of the current research on international management in Thailand focuses on large corporations, leaving SMEs underexplored, particularly in their internationalization strategies. This study employs a qualitative research methodology, involving a comprehensive literature review, case studies, and interviews with key stakeholders in Thai SMEs. The data were analyzed using thematic analysis to identify core challenges and strategies for SME internationalization. The research takes a problem-solving approach, examining the inevitability of SME internationalization in Thailand. It explores key issues such as the feasibility of international operations, critical success factors, and the role of government policy in supporting international management efforts. The findings reveal that Thai SMEs face substantial pressure to internationalize due to the increasing globalization of domestic markets. However, their success in international ventures is contingent on addressing internal challenges such as limited resources, strategic planning deficiencies, and external issues like regulatory barriers and competitive pressures in the international arena. This research contributes to the theoretical understanding of SME internationalization by expanding the focus to smaller enterprises, which have been largely overlooked in the Thai context. Practically, the study offers strategic recommendations for Thai SMEs to enhance their international management capabilities. It also highlights the critical role of government policies in facilitating successful SME internationalization, providing actionable insights for both business leaders and policymakers.
},
 year = {2024}
}

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TY  - JOUR
T1  - A Study on the International Management Strategy of Small and Medium Enterprises in Thailand

AU  - Chuanling Zhang
AU  - Vichit U-on
Y1  - 2024/10/31
PY  - 2024
N1  - https://doi.org/10.11648/j.ijefm.20241205.20
DO  - 10.11648/j.ijefm.20241205.20
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 329
EP  - 335
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20241205.20
AB  - In the context of global economic integration, information technology accelerates economic transformation, international division of labor, and enterprise competitiveness in the global development chain. As a result, international management has become a critical strategy for businesses seeking to enhance competitiveness and ensure sustainable development. For Thailand’s small and medium-sized enterprises (SMEs), economic globalization presents both new opportunities and challenges. However, much of the current research on international management in Thailand focuses on large corporations, leaving SMEs underexplored, particularly in their internationalization strategies. This study employs a qualitative research methodology, involving a comprehensive literature review, case studies, and interviews with key stakeholders in Thai SMEs. The data were analyzed using thematic analysis to identify core challenges and strategies for SME internationalization. The research takes a problem-solving approach, examining the inevitability of SME internationalization in Thailand. It explores key issues such as the feasibility of international operations, critical success factors, and the role of government policy in supporting international management efforts. The findings reveal that Thai SMEs face substantial pressure to internationalize due to the increasing globalization of domestic markets. However, their success in international ventures is contingent on addressing internal challenges such as limited resources, strategic planning deficiencies, and external issues like regulatory barriers and competitive pressures in the international arena. This research contributes to the theoretical understanding of SME internationalization by expanding the focus to smaller enterprises, which have been largely overlooked in the Thai context. Practically, the study offers strategic recommendations for Thai SMEs to enhance their international management capabilities. It also highlights the critical role of government policies in facilitating successful SME internationalization, providing actionable insights for both business leaders and policymakers.

VL  - 12
IS  - 5
ER  -

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Author Information

Chuanling Zhang

Business Administration, Graduate College of Management, Sripatum University, Bangkok, Thailand

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Vichit U-on

Graduate College of Management, Sripatum University, Bangkok, Thailand

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APA Style

Zhang, C., U-on, V. (2024). A Study on the International Management Strategy of Small and Medium Enterprises in Thailand. International Journal of Economics, Finance and Management Sciences, 12(5), 329-335. https://doi.org/10.11648/j.ijefm.20241205.20

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ACS Style

Zhang, C.; U-on, V. A Study on the International Management Strategy of Small and Medium Enterprises in Thailand. Int. J. Econ. Finance Manag. Sci. 2024, 12(5), 329-335. doi: 10.11648/j.ijefm.20241205.20

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AMA Style

Zhang C, U-on V. A Study on the International Management Strategy of Small and Medium Enterprises in Thailand. Int J Econ Finance Manag Sci. 2024;12(5):329-335. doi: 10.11648/j.ijefm.20241205.20

Copy | Download

@article{10.11648/j.ijefm.20241205.20,
  author = {Chuanling Zhang and Vichit U-on},
  title = {A Study on the International Management Strategy of Small and Medium Enterprises in Thailand
},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {12},
  number = {5},
  pages = {329-335},
  doi = {10.11648/j.ijefm.20241205.20},
  url = {https://doi.org/10.11648/j.ijefm.20241205.20},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20241205.20},
  abstract = {In the context of global economic integration, information technology accelerates economic transformation, international division of labor, and enterprise competitiveness in the global development chain. As a result, international management has become a critical strategy for businesses seeking to enhance competitiveness and ensure sustainable development. For Thailand’s small and medium-sized enterprises (SMEs), economic globalization presents both new opportunities and challenges. However, much of the current research on international management in Thailand focuses on large corporations, leaving SMEs underexplored, particularly in their internationalization strategies. This study employs a qualitative research methodology, involving a comprehensive literature review, case studies, and interviews with key stakeholders in Thai SMEs. The data were analyzed using thematic analysis to identify core challenges and strategies for SME internationalization. The research takes a problem-solving approach, examining the inevitability of SME internationalization in Thailand. It explores key issues such as the feasibility of international operations, critical success factors, and the role of government policy in supporting international management efforts. The findings reveal that Thai SMEs face substantial pressure to internationalize due to the increasing globalization of domestic markets. However, their success in international ventures is contingent on addressing internal challenges such as limited resources, strategic planning deficiencies, and external issues like regulatory barriers and competitive pressures in the international arena. This research contributes to the theoretical understanding of SME internationalization by expanding the focus to smaller enterprises, which have been largely overlooked in the Thai context. Practically, the study offers strategic recommendations for Thai SMEs to enhance their international management capabilities. It also highlights the critical role of government policies in facilitating successful SME internationalization, providing actionable insights for both business leaders and policymakers.
},
 year = {2024}
}

Copy | Download

TY  - JOUR
T1  - A Study on the International Management Strategy of Small and Medium Enterprises in Thailand

AU  - Chuanling Zhang
AU  - Vichit U-on
Y1  - 2024/10/31
PY  - 2024
N1  - https://doi.org/10.11648/j.ijefm.20241205.20
DO  - 10.11648/j.ijefm.20241205.20
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 329
EP  - 335
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20241205.20
AB  - In the context of global economic integration, information technology accelerates economic transformation, international division of labor, and enterprise competitiveness in the global development chain. As a result, international management has become a critical strategy for businesses seeking to enhance competitiveness and ensure sustainable development. For Thailand’s small and medium-sized enterprises (SMEs), economic globalization presents both new opportunities and challenges. However, much of the current research on international management in Thailand focuses on large corporations, leaving SMEs underexplored, particularly in their internationalization strategies. This study employs a qualitative research methodology, involving a comprehensive literature review, case studies, and interviews with key stakeholders in Thai SMEs. The data were analyzed using thematic analysis to identify core challenges and strategies for SME internationalization. The research takes a problem-solving approach, examining the inevitability of SME internationalization in Thailand. It explores key issues such as the feasibility of international operations, critical success factors, and the role of government policy in supporting international management efforts. The findings reveal that Thai SMEs face substantial pressure to internationalize due to the increasing globalization of domestic markets. However, their success in international ventures is contingent on addressing internal challenges such as limited resources, strategic planning deficiencies, and external issues like regulatory barriers and competitive pressures in the international arena. This research contributes to the theoretical understanding of SME internationalization by expanding the focus to smaller enterprises, which have been largely overlooked in the Thai context. Practically, the study offers strategic recommendations for Thai SMEs to enhance their international management capabilities. It also highlights the critical role of government policies in facilitating successful SME internationalization, providing actionable insights for both business leaders and policymakers.

VL  - 12
IS  - 5
ER  -

Copy | Download