Challenges and Obstacles of Small and Medium Enterprises Under a Creative Economy: The Case of Thailand.
5
Issued Date
2011
Resource Type
Language
eng
Rights
Mahidol University
Suggested Citation
Piriya Pholphirul, Veera Bhatiasevi (2011). Challenges and Obstacles of Small and Medium Enterprises Under a Creative Economy: The Case of Thailand.. Retrieved from: https://repository.li.mahidol.ac.th/handle/123456789/40214
Title
Challenges and Obstacles of Small and Medium Enterprises Under a Creative Economy: The Case of Thailand.
Author(s)
Other Contributor(s)
Abstract
Most small and medium enterprises (SMEs) have acquired the status of being either “creators” or “outsourcers”, the latter referring to SMEs that are part of the production chain of large companies. Different roles in the production value chain lead to business strategies that vary for each type of creative industry.
Those SMEs face many obstacles and challenges, such as an inability to meet the needs of the consumer, reliance on large companies for the distribution or delivery of their products to the market (The Humdrum Factor); problems
adapting existing products to suit the needs of some markets; overlooking the importance of intellectual property (IP) registration for creative products; and not being able to obtain adequate sources of funding, especially for those that do not have the necessary collateral. Therefore, the following strategies have been proposed in order to develop SMEs into becoming creative enterprises namely: modifying the organizational structure; creating a business network; creating unique business strategies; focusing on public relations; market development by utilizing electronic commerce; and by creating strong commitment within the
organization. Business strategies that suit a creative economy are different for each type of organization; different for each rganizations role in the production
chain; and as mentioned above, different for each type of creative industry. The challenge for an entrepreneur is to develop the organization towards becoming a creative enterprise that has been able to find a structure that is a perfect fit.
Description
The International Journal of Arts & Sciences Conference for Academic Discipline, Rome, Italy. October 31 – November 3, 2011