The Internationalization of Thai Companies

Abstract

Thailand is the most economically advanced country of mainland South-east Asia, which is itself a dynamic area in which new firms are developing and economic activities growing at a rapid pace. Some Thai corporations have attempted to internationalize but have, to date, received only limited success in their efforts. When success has been achieved, it has commonly resulted from cross-border activities in Thailand's poorer neighbours or else to have taken advantage of the fact that successful managers are frequently ethnic Chinese and have been able to create personal connections with other Chinese overseas. This has led to some commonality in the internationalization patterns of Thai companies. This paper analyses the background of the internationalization of Thai companies and their limited success. Attention is paid to the role of historical factors and the international education of many Thai executives. It is argued that only when Thai executives (and Thai society more generally) are able to overcome chauvinist associations to Thai styles of management will their corporations assume a place in the international economy