An Investigation into the Current Success Factors for Small and Medium Essay

An Investigation into the accredited Success Factors for Small and Medium Enterprises (SMEs) in Thailand - Essay ExampleThe type of businesses involved in this resume is small and medium business enterprises (SMEs), which are characterized by being relatively smaller than larger enterprises (LEs) in terms of the number of employees or amount of fixed assets. The geographical region in focus is the sylvan of Thailand in South East Asia. A range of different types of SMEs will be included from mixed sectors so that the findings are representative of Thai SMEs in general. Thus, it includes the fruit, wholesale and retail sectors. We shall adopt the classification of SMEs as defined by the Thai Institute for Small and Medium Enterprises Development (ISMED, 2010) as follows Enterprises in the production/service sectors no more(prenominal) than 200 employees or no more than Baht 200 one million million in fixed assets. Enterprises in the wholesale trading sectors no more than 50 empl oyees or no more than Baht 100 million in fixed assets. Enterprises in the retail sectors no more than 30 employees or no more than Baht 60 million in fixed assets. Similarly, the field of study will non be confined to SMEs in a particular area of Thailand because that would not inescapably be representative of Thai SMEs. ... These are primarily related to the areas of administration, management, finance, technology, human resources, and marketing (Garengo, and Bernardi, 2007). For example, the problem of gaining approaching to sources of funding is very common. Often, SMEs are unaware of potential sources of finance, lack the management skills to satisfy lenders, and are un competent to meet lenders rigorous assessment criteria and screening process (Atrill, 2006). Even then, SMEs are often not able to receive sufficient chafe to credit, as do LEs. The nature of this particular problem however is not unique to Thai SMEs as it is a similar situation with SMEs elsewhere, even i n developed countries much(prenominal) as Europe (European Commission, 2006). Other problems include lack of employee-training (Thassanabanjong et al., 2009), especially in family-owned SMEs (De Lema and Durendez, 2007) an informal approach if not negligible regard to human resource management (HRM), and consequently low productivity (Huang, 2003). SMEs seeking to provoke are often unable to cope with globalization and e-commerce challenges (Tiessen et al., 2001) and in addition have difficulty gaining access to international markets (Worthington & Britton, 2009) and in developing successful growth models to expand regionally or globally (Li & Tan, 2004). globular SMEs looking to expand into Thailand often have difficulty in establishing ties with local networks (McNamara, 2005). Managers of SMEs typically have generous responsibility for the organization, so management issues tend to be more acute in SMEs than in LEs where on that point are typically several tiers of managemen t. In addition, as Kotey (2005) noted, management practices in SMEs tend to be informal, ambiguous and seldom focus on strategic