International Management Strategy of Small and Medium Enterprises in Thailand: Challenges and Strategic Adaptation in a Globalized Economy

Abstract

In the context of global economic integration, small and medium enterprises (SMEs) in Thailand face considerable challenges in their internationalization efforts, which are crucial for sustained growth and competitiveness in the global market. These challenges include technological limitations, insufficient knowledge of international markets, structural inefficiencies, talent shortages, and inadequate risk management practices. Overcoming these barriers is essential for Thai SMEs to successfully adapt to the demands of international competition and seize opportunities in foreign markets. This study aims to investigate the international management strategies employed by Thai SMEs to address these challenges, with a particular focus on the role of government policy support in facilitating their global expansion. The research examines the effectiveness of various approaches, such as innovation adoption, capacity-building initiatives, and strategic alliances, in enhancing SME competitiveness and resilience. By analyzing these strategies, the study provides actionable insights into how Thai SMEs can leverage their unique strengths and external support to achieve sustainable international growth. The findings also offer valuable implications for policymakers, emphasizing the need for targeted interventions to foster SME development in a globalized economy. The paper concludes by presenting recommendations for enhancing SME internationalization and identifying areas for future research to address persistent gaps in knowledge and practice.