Dissertation on "Startsups and Smes in Thailand"

Dissertation 55 pages (15471 words) Sources: 65 Style: Harvard

[EXCERPT] . . . .

, 2000; Brown, et al., 2006). In spite of the significance of computer simulation business, software applications have two core issues in SMEs application i.e. difficult user interface, and absence of real visualization method. Moreover, the applications are very complex and demanding for novices as well as casual users like worker to understand and use them (Seo, et al., 2014).

These days augmented reality in smartphones attracts plenty of attention since the technology uses special software that allows users to turn their phones into virtual displays. Customers that use mobile applications anticipate a captivating experience that is attractive and useful. Leveraging augmented reality can improve existing businesses and even help develop fresh businesses (Infosys, n.d.).The lack of communication between enterprises and peripheral decision makers like the customers can be significantly reduced through the implementation of IVR (Immervise Virtual Reality). Studies indicate that IVR support SMEs in several areas of their external and internal decision making processes and IVR's superiority over 2D technology in carrying out communication (Eisenhardt, 2007; Nutt, 1998; Van Dam, et al., 2000; Brown, et al., 2006). In spite of the significance of computer simulation business, software applications have two core issues in SMEs application i.e. difficult user interface, and absence of real visualization method. Moreover, the applications are very complex and demanding for novices as well as casual users like worker to understand and use them (Seo, et al., 2014).

Factors affecting business success of small and medium enterprises (SMEs)

There is quite a difference in criteria used to determine success in most of the previous studies. These are some of those studies that have focused on the factors that affect performance in the SME sector. According to authors, Indarti & Langenberg (2005), the key components required for the success in the SME sector are; the contextual components of SME development, the characteristics of the SMEs and the qualities of the entrepreneurs. Westhead (1995) on the other hand in his study investigated about 227 SMEs in the high-technology sector. The study by Ghosh and Kwan (1996) made an intersectional study to investigate the key success factors of 164 SME's in Australia and 152 SMEs in Singapore. Yusuf (1995) investigated the factors that were necessary for success in small firms across different sectors based on the viewpoints of some two hundred and twenty entrepreneurs in the South Pacific. Wijewardena and Cooray (1996) investigated the significance of crucial factors for success by looking into some 300 SMEs in the Japanese manufacturing sector. Gadenne (1998) explored the impacts of several management practices on the success of small firms by studying 369 small business in the manufacturing, service and retails sectors in Australia. Bracker & Pearson (1986) investigated the practices and financial performance of small but established firms in the laundry business. Pelham (2000) investigated the link between performance and market orientation of SMEs in the manufacturing sector across 8 different industry sectors. Based on these studies, the factors affecting the success of small and medium sized business can be classified into the following:

The characteristics of an entrepreneur (Kristiansen, et al., 2003; Rutherford & Oswald, 2000; Chittithaworn, et al., 2011)

The characteristics of the enterprise (Kristiansen, et al., 2003)

Management and know-how (Swierczek & Ha, 2003)

The services and products (Hitt & Ireland, 2000)

The manner of doing business and cooperation (Hitt & Ireland, 2000; Jarillo, 1988)

Finance (Swierczek & Ha, 2003; Kristiansen, et al., 2003)

Policies and strategy (McMahon, 2001)

External factors (Huggins, 2000; Indarti & Langenberg, 2005

IT (Hesselmann, et al., 2002)

Despite the huge number of factors only six of them namely, the characteristics of the enterprise, management and know how, services and products, the manner of doing business and cooperation, finance and external factors were considered for the purpose of this study based on their suitability in the Thai context. Thus the success of SME companies is based on the following (in)dependent variables: the characteristics of the enterprise, management and know how, services and products, the manner of doing business and cooperation, finance and external factors (Chittithaworn, et al., 2011).

Significance of the problem

Since, small and medium sized enterprises are crucial to the Thai economy, it is important to find ways to increase their resilience. One of the ways to do this is to give them adequate funding. Credit given to SMEs totaled to about 32.8% of total money loaned out by commercial banks in 2012, a proportion that was still significantly small in scale. However, the scale is somewhat justified since, the total non-performing loans in the SME sector were at 3.4% compared to the overall non-performing loan rate of 2.2% in the second quarter of the country's financial calendar in 2013. While the strong demand for credit by SMEs has somehow shifted the lending practices of commercial banks in favor of the SMEs rather than large companies, lack of collaterals and other form of guarantee still hinders access to credit for most of the SMEs (ADB, 2014; Yoshino, et al., 2015). This study additionally sets its goals to assess the utilization of virtual reality as well as augmented reality in SMEs decision making and use or adoption of these two technologies in Thailand SMEs. This research aims to evaluate the use of virtual reality and augmented reality in supporting innovative SMEs in tackling issues.

Overview of the methodology

The success of the business is the dependent variable while independent variables are: the characteristics of the enterprise, management and know how, services and products, the manner of doing business and cooperation, finance and external factors. A self-structured questionnaire was utilized to collect research information and data. The questionnaire was made up of three segments. The first dealt with profile information, demographic and characteristics of the respondents. The second part was made up of forty questions which were meant to determine the success factors required for SMEs success. The factors were the characteristics of the SME, management and know how, services and products, the manner of doing business and cooperation, finance and external factors (Chittithaworn, et al., 2011).

Delimitations of the study

This study investigates the limitations and challenges associated with the development and success of SMEs in Thailand. The information and data was gathered and analyzed via the interviews with executives of top small and medium sized companies that received financial support from NIA (National Innovation Agency) and literature reviews. The result of the research is that the barriers that are hindering the growth and success of innovation in the small and medium sized businesses in Thailand are: 1) lack of adequate support from the government, 2) high research and developments (R&D) costs and, 3) difficulty in accessing funding (Sukasiriwat, n.d.).

Definitions of key terms

GDP- Gross domestic product

NIA- National innovation Agency

SME- small and medium enterprise

IT- information Technology

NPL-Non performing loan

Organization of the dissertation

This study is organized in the following manner:

Statement of the problem

Introduction

Problem statement

Significance of the problem

Overview of the methodology

Delimitations of the study

Definitions of key terms

Organization of the dissertation

A Review of the Literature

Chapter organization

Review of empirical and theoretical literature

Summary of what the past studies say and imply and how they relate to this study

The methodology of the study

The general methodology

The research context or site

The respondents

The materials utilized

The procedures followed

Analyses made

A summary of the methodology

The results of the study

A chapter overview

The presentation of the results, organized in the manner that the problem statement was stated in the first chapter

A summary of the results obtained

Summary and discussion

A summary of the results, organized in the manner that the problem statement was stated in the first chapter

A discussion of the findings

Literature Review

The term enterprise has been utilized in a variety of different meanings and contexts (Bridge, et al., 2003). According to Salminen (2000) an enterprise is a controlled system that is made up of three components: a selector, a detector and an effector. The detector is the component through which the system collects the information on its environment; this information is then utilized by a different component (selector) as a basis for its behavioral response. And lastly, the behavior is carried out by the effector. There is an assessment system that collects data on the performance and the environment of the enterprise. This data is then utilized together with the values of the management and the company policies to produce decisions on the actions that were required. Consequently, the enterprise's outputs - services, products, financial performance and operational performance -- are changed. Firm performance refers to a company's success in the market. The success of a company in the market may have its own different outcomes. Firm performance is one of the most studied phenomena in business and financial studies. In spite of it being a focal point in these studies, it is also a complex and multifaceted phenomenon. Firm performance can be conceptualized as a company's ability… READ MORE

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