Factors for Success in Doing Business Between China and Thailand

Yuan Xiao, Tanapol Kortana, Bundit Pungnirund, Thanakorn Thanathanchuchot, and Chattip Manmai

ABSTRACT:

This paper aims to develop and validate a comprehensive model of success factors for conducting business between China and Thailand, addressing a critical gap in holistic, empirically-grounded frameworks. Methodology: A mixed-methods approach was employed, beginning with a quantitative survey of 440 entrepreneurs in Sino-Thai joint ventures. Data was analyzed using Second-Order Confirmatory Factor Analysis (CFA) to validate the proposed model. Subsequently, in-depth interviews with 30 experts—comprising successful entrepreneurs, academics, and trade association leaders—were conducted to triangulate and enrich the quantitative findings. Findings: The analysis confirms a robust six-factor model for business success: (1) Business Relationship, (2) Effective Business Communication, (3) Trade Compliance Capability, (4) Business Network Development, (5) Business Resilience and Flexibility, and (6) Logistics and Supply Chain Management. The model demonstrates strong statistical fit with the empirical data and is corroborated by qualitative expert insights, which highlight the interdependent and dynamic nature of these capabilities. Implications: The validated model provides a strategic roadmap for managers, highlighting the interconnected capabilities required to navigate the complexities of the Sino-Thai business environment. For policymakers, it identifies key areas for support, such as regulatory training and networkbuilding initiatives, to enhance the competitiveness of domestic firms in this critical economic corridor.

KEYWORDS: Sino-Thai Business, Success Factors, International Business, Dynamic Capabilities, Mixed-Methods Research, Emerging Economies

DOI: 10.62788/Nn433XB

PUBLISHED IN: ICCMETS Conference Proceedings 2024

DATE OF CONFERENCE: October 21 - 22, 2024

CONFERENCE LOCATION: Singapore

PUBLISHER: EDUCATION STUDIO (THAILAND) CO., LTD.

ELECTRONIC ISBN: 978-616-7901-69-5

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