Article | Entrepreneurship area | Year 2021 | |
Cultural factors in Chinese family business performance in Thailandby T. Luechapattanaporn; Winai Wongsurawat | |
International Journal of Entrepreneurship 25(2), p.1-15 |
AbstractThe purpose of this research was to investigate the cultural characteristics of
Chinese family business in Thailand and to identify how these characteristics contribute to
business performance. A qualitative-led mixed methods strategy was used, incorporating
with a business questionnaire (n = 380) and interviews with owners and managers of firms
(n = 5).
There were three distinct types of practices and values that were identified as
unique to Chinese family businesses, namely renqing (reciprocity), guanxi (network
relationshisp), and Confucian values (benevolent leadership, prioritising family, and
exchanging favours). These values enabled the firm to increase resource access and
capacity, to focus on mutual benefit, to meet deadlines and production requirements, to
improve internal trust and relationships, and to create long-term relationships. Such
practices, however, may also contribute to corruption and poor management. Thus, these
cultural factors do create competitive advantage, but must be used carefully.
Keywords: - |