Browsing by Subject "Growth"
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ItemFindings of main obstacles facing Thai SMEs towards business growth sustainabilityThis paper aims to provide insight information into main competencies thirty-four local Small and Medium-sized Enterprises (SMEs) are lacking in order to achieve their business performance and sustained healthy economic growth. The data was obtained from Researchers' five day-planned productivity improvement to individual firms during the year 2017 to 2019 in Nakornpathom, Ratchaburi, Rayong, Samutprakan, and Samutsakorn provinces, and Bangkok. The information reveals that eighteen (18) or 52.94% of both small and medium enterprises have low entrepreneurial skills (the inability to identify and define a viable market niche, recognizing, envisaging, and formulating strategies for taking advantage of opportunities). This study also summarizes the lack of main management skills or competencies of the SMEs based on the study of Mitchelmore & Rowley (2009). The impact of these skills led to Thai SMEs' inability to: smoothly and continuously produce and deliver quality products to customers, keep costs down and compete, and attract and retain talent. Further studies should delve into specific entrepreneurial skills of SMEs owner/managers, which significantly impact firm performance and sustained growth. Consequently, current Thailand's SME promotion policies could be reviewed in order to differentiate existing promotional programs based on the quality of SMEs for their sustained development and effective utilization of SME's budgets.
ItemNurturing SMEs for export export growth: a case of apparel and textile industry of Thailand
ItemOn new ventures' board of directors: formation, adjustment, and influences on internationalizationTo survive and grow, young firms must leverage different means, such as strategic alliances or founders’ personal networks, to access and acquire necessary external resources to overcome, or at least mitigate, the liability of newness. In this study, we found that the board of directors can serve as a means of resource provision for new ventures. We conducted a historical analysis and case studies on high-tech new ventures, in order to delve deeply into the processes regarding how boards are formed, how board members provide these resources, and what factors influence the processes. Results showed that a board of directors is more likely to be formed when the funds are raised from institutional investors, rather of individual investors. Moreover, for founders, formation of the board connotes an exchange of partial ownership for critical external resources. When more resources are needed, founders adjust their boards. Adjustments of the board can be categorized into two: “planned board adjustments” are initiated by the founders to acquire external resources, while “required board adjustments” are set out by disgruntled board members, and reduced resource endowments of the firm. In addition, board members exploit their individual assets, experience, reputation, and personal networks to provide personally endowed resources to the new venture, and leverage their firms’ assets, reputation, and business networks to contribute organizationally endowed resources. Board members also facilitate new ventures’ internationalization.