How SMEs Carry Out Strategic Management:A Multi-Case Study In Thailand

Small-and medium-sized enterprises play an important role in the world's economy,especially in developing countries.It holds strategic and crucial role from many aspects such as their substantial amount of industries,large employment potentials,and for developing countries-a major contribution to the Growth Domestic Product.SMEs are often confronted with challenges that are uncommon to the larger enterprises and multi-national corporations.SMEs in Thailand are defined as either small or medium using the size of SMEs based on the number of employees and the value of total fixed assets excluding land value.SMEs in Thailand are classified into three categories based on the business sector:(1)Manufacturing sector,(2)the service sector,and(3)Trade sector which is composed by wholesale and retail.The conceptual model of strategic management consists of four main elements which include:(1)environmental scanning,(2)strategy formulation,(3)strategy implementation and(4)strategy evaluation and control.The purpose of this study is to explore the role of strategic management for Thai SMEs which allows them to gain competitive market advantages.In this research,literature reviews on the basis of strategic management process has been conducted with regards to SMEs firms.A mix method research which is a combination of qualitative and quantitative approach has been conducted.The data for analysis were obtained from qualitative interviews with decision makers of 20 sampling Thai SMEs in four major industries which includes Manufacturing,Service,Whole and Retail.It aims to obtain a reference for these firms to improve and utilise strategic management tools to gain market competitiveness.The results obtained indicated that all of the decision makers of the sampling companies are aware of strategic management processes and their corresponding tools.These processes and corresponding tools have been implemented.However,the pattern of which it is implemented is in a diverse way when compared to the conception and theoretical framework.