A Study on the International Management Strategy of Small and Medium Enterprises in Thailand
Year: 2024
Type: article
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.
Authors: Chuanling Zhang, Vichit U-on
Institution: Sripatum University
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404129557