Success Factors for the Transportation Business Strategy During Economic Crisis of SMEs in Thailand

Abstract

The objective of this research was to study the factors of success that affect the operating strategy of the transportation business during the economic crisis of Small and Medium-sized Enterprises in Thailand. Indepth interviews with predefined questions were conducted on a sample of 10 small transport businesses that were selected as successful from the SMEs searching radio program. The results of the study revealed that every entrepreneur decided to start their own business voluntarily. In terms of products and services, each were in different formats and were distinctive and unique. In addition, every small business was affected by the economic crisis. The factors that made them successful were doing things that they were good at, having adaptability, having ability to plan and solve problems, giving importance to their personnel and customers as well as the quality of products and services, not imitating others, and their determination in the business. It was found that most successful small businesses used the top priority planning strategies, followed by complete pre-planning strategies. They also were found not using opportunity-seeking and defensive strategies. Therefore, the interested parties should pay attention to study and develop specific planning strategies which are essential strategies that lead to success. In addition, the success factors of entrepreneurs should be considered as indicators of success and should be made available as information to the general public for improving small Thai enterprises into bigger businesses that can compete at the global level.

A Review of Business Model Transformation in Transportation Business Post Pandemic

“…Here, we need to look at the empirical studies on how transportation companies adapt to the Covid-19 pandemic. Some studies reveal various factors ensuring their survival during the pandemic [71].…”

“…These stakeholders include elements in the sustainable value network such as society, natural environment, customer, government, alliance partner, and supplier [64]. Business alliance boosts transportation business survival during the pandemic [71]. Each stakeholder has value forms linking the stakeholder with the focal firm.…”