Global Competitiveness: Ten Things Thai Businesspeople Should Know

ISBN-13: 9789811677571 / Angielski / Miękka / 2023 / 97 str.

William Philip Wall

Opis

This book discusses the aspects of global competition in terms of the strategies that could be applied to improve the competitive position of businesses and consolidate gains particularly in the Thai market. The book is composed of 10 chapters focusing on topics related to business strategy, such as competition, marketing, innovation, utilizing information, technology, human resources, strategic alliances, customer service, implementation, monitoring and evaluation of strategies, and corporate social responsibility. This book will serve as a useful guide for those already in business in Thailand as well as for businesses that hope to expand their existing operations in Thailand to the global market.

Spis treści

Chapter 1: Global Competition – The Battlefield 

1.1 Scope of Business Competition 

1.2 Types of Competition 

1.3 Forms of Competition 

1.3.1 Perfect Competition 

1.3.2 Monopoly Competition 

1.3.3 Monopolistic Competition 

1.3.4 Oligopoly Competition 

Chapter 2: Marketing – Position Yourself 

2.1 Definitions of marketing 

2.2 Practicing Marketing 

2.3 Applying the 4p’s of Marketing 

2.3.1 Product 

2.3.2 Price 

2.3.3 Place 

2.3.4 Promotion 

2.4 Positioning Yourself in the Business Market 

2.4.1 Positioning Strategies 

2.4.2 Developing a position statement 

2.4.3 Identifying Current Market Position 

2.4.4 Analyzing Competitor Positioning 

2.4.5 Developing a Unique Position 

Chapter 3: Innovate – Generate and Evaluate 

3.1 Business Innovation 

3.2 Applying the Four Types of Innovation 

3.2.1 Incremental Innovation 

3.2.2 Disruptive Innovation 

3.2.3 Architectural Innovation 

3.2.4 Radical Innovation

3.3 The Business Innovation Process 

3.3.1 Step 1: Idea Generation and Mobilization 

3.3.2 Step 2: Advocacy and Screening 

3.3.3 Step 3: Experimentation 

3.3.4 Step 4: Commercialization 

3.3.5 Step 5: Diffusion and Implementation 

Chapter 4: Using Information – Leverage Resource 

4.1 Information as a Resource 

4.2 Exiting Forms of Information 

4.3 Basic Sources of Information 

4.4 Leverage Business Information/Knowledge to create Value 

4.4.1 Leveraging Business Information 

4.4.2 Information in Driving Revenue 

4.4.3 Improving Operational Efficiency 

4.4.4 Improving Customer Focus 

4.4.5 Gaining Competitive Advantage 

4.4.6 Setting Realistic Goals 

Chapter 5: Technology – Upgrade 

5.1 Technology in Business 

5.2 Steps to Follow When Upgrading Your Business Technology 

5.2.1 Step 1: Identify Technological Loopholes 

5.2.2 Step 3: Pilot Operation 

5.2.3 Step 3: Communication Plan 

5.2.4 Step 4: Training 

5.2.5 Step 5: Preparing Infrastructure 

5.2.6 Step 6: Implementation and Support 

5.2.7 Step 7: Performing Upgrade Review 

5.3 Benefits of Upgrading Technology in Business 

5.3.1 Increased Productivity 

5.3.2 Security of Data 

5.3.3 Attracting More Customers 

5.3.4 Cost Minimization 

5.3.5 Solving Problems 

Chapter 6: Human Resources/Cross-Cultural Communication 

6.1 Human Resource Development 

6.2 Cross-Cultural Communication Awareness 

6.3 Focusing HRM Communication towards Business Missions 

6.3.1 Strategic Communication 

6.3.2 Communicating Human Resources Benefits and Risks

6.3.3 Functional Implementation 

6.4 Creating Effective Communication within the Organization 

6.5 Human Resource as a Business Asset 

6.5.1 Human Capital 

6.5.2 Possess Skills and Knowledge 

6.5.3 Contribution to Profits 

6.6 Creating Company Culture That Breeds Success 

6.7 Developing Cross-Cultural Communication 

6.8 Developing of Cultural Intelligence 

Chapter 7: Strategic Alliance - Strength in Numbers 

7.1 The Spirit of Strategic Alliance 

7.2 Establishing a Strategic Alliance 

7.3 Advantages of Strategic Alliance 

7.4 Disadvantages of Strategic Alliance 

7.5 The Power of Partnerships 

7.5.1 Access to new customers 

7.5.2 Building brand trust 

7.5.3 Developing New Perspectives 

7.3.4 Increased Moral Support 

7.6 Types of Strategic Alliances 

7.6.1 Procompetitive Alliance 

7.6.2 Competitive strategic alliance 

7.6.3 Noncompetitive Strategic Alliance 

7.7 Making It Work 

7.7.1 Picking a Partner 

7.7.2 Structuring the Agreement 

7.7.3 Managing the Deal 

Chapter 8: Customer Service – Listen to What They Say 

8.1 Active Listening to Customers 

8.2 How to Listen to Customers 

8.3 Importance of Listening to Customers 

8.3.1  Improved Relationship with the Customers 

8.3.2 Creating New Customers 

8.3.3 Avoiding Crisis 

8.4 Keeping the Conversation Going 

Chapter 9: Implementation, Monitoring & Evaluation – Now What Do We Do? 

9.1 Now What Do we Do? 

9.2 Implementation 

9.2.1 How to carry out a successful implementation 

9.2.2 Communication of the Strategic Business Plan 

9.2.3 Developing the implementation structure 

9.2.4 Developing Implementation Support Policies and Programs 

9.2.5 Budget and resource allocation 

9.2.6 Discharging implementation activities 

9.2.7 Avoiding Business Implementation Pitfalls 

9.2.8 Weak strategy 

9.2.9 Ineffective staff training 

9.2.10 Poor Communication 

9.2.11 Poor Follow Through 

9.3 Monitoring and Evaluation 

9.3.1 Developing monitoring and evaluation strategy 

9.3.2 Defining measurable benchmarks 

9.3.3 Communicating Benchmarks 

9.3.4 Developing Monitoring Plans 

9.3.5 Establishment of the Review Plans 

9.4 Benefits of Monitoring and Evaluation in Business Strategies 

9.5 Challenges of Monitoring and Evaluation Process 

Chapter 10: Social Responsibility – Giving Something Back 

10.1 Giving Something Back 

10.2 Giving Back for Business 

10.3 Ways to Give Back to Society 

10.3.1 Getting your employees involved 

10.3.2 Setting aside part of the profits 

10.3.3 Being part of the community 

10.3.4 Building communities 

10.4 Moral obligation and corruption 

10.5 Benefits of Giving Back to the Society 

10.5.1 Improved Business Reputation 

10.5.2 Attracting talent 

10.5.3 Building connections and widening business networks 

10.6 The Cost of Ignoring Social Responsibility 

10.7 Using Social Responsibility to Build a Sustainable Business 

10.7.1 Building your social responsibility strategy around your core competencies 

10.7.2 Recognizing the important social issues to your customers 

10.7.3 Motivating your employees 

10.8 Bottom line 

References 

O autorze

William Philip Wall has a Doctorate in Management Science with concentrations in strategic management and global competitive advantage. He has lectured at numerous universities around the world including the UAE, Myanmar, Thailand, and the USA.