Surviving the next economic crisis: corporate entrepreneurship strategies in Thai automotive SMEs

Abstract

This paper examines the antecedents to corporate entrepreneurship (eE) in Thailand's auto-parts manufacturing industry in the post Asian financial crisis era using a mixed-method approach. There is a lack of research on CE strategies of SMEs in response to the Asian financial crisis in developing Asian countries. This paper presents a model based on existing CE theory where organizational strategy, culture and the environment impact on CE and organizational peiformance. Structural Equation Modeling was used to analyze data collected from 220 chief executives/deputy chief executives who participated in this research. The results suggest that environmental and organizational factors impact on CE which in turn influences firm performance in terms of both financial and non-financial aspects. Significantly, non-financial performance was found to influence financial outcomes. This paper demonstrates that CE is important not only for wealth creation but also for efficient processes and operations, all of which reflect on overall performance. As there is a dearth of empirical research in this area. this paper makes, a useful contribution to knowledge by highlighting the CE initiatives afThai SMfs to survive future crisis and stiff competition in the Asian region.

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