An Exploration of Key Success Factors of Social Enterprise in Thailand
DOI:
https://doi.org/10.14456/abacodijournal.2022.19Abstract
The awareness of sustainability is increasing in people across the world. Business needs to incorporate social responsibility practices in its product or process, while there is a new type of business called Social Enterprise (SE) that has a main mission aligned with sustainable development goals. SE shares common characteristics with the typical business but aims to solve social and environment problems in specific areas. This paper aims to explore key success factors of SE in Thailand as it can benefit future research and practitioners. The main research question is the key success factors for SEs in Thailand. Samples were purposively selected from Thai SEs listed in SET (Stock Exchange of Thailand) Social Impact that has been operated on for more than five years. These organizations were categorized into seven groups. Each group had organization representatives voted for the most successful organization among them. There were seven organizations and 12 participants in this study. Data was collected using semi-structured interviews and analyzed using theory-driven thematic analysis. There were 63 emerged themes according to McKinsey's 7s framework, namely: strategy, shared value, system, structure, staff, skill, and style. The outcomes of this study reflected characteristics of SE, the Sufficiency Economy Philosophy, and healthy organization. Researchers in this field can use the quantitative study to confirm the themes of this study, using phenomenology to study living experiences. Practitioners can consider the results as a guide to developing and managing SE in Thailand.
References
Alagaraja, M. (2013). Mobilizing organizational alignment through strategic human resource development. Human Resource Development International, 16(1), 74–93. https://www.tandfonline.com/doi/pdf/10.1080/13678868.2012.740794
Alter, K. (2007). Social Enterprise Typology. https://www.globalcube.net/clients/philippson/content/medias/download/SE_typology.pdf
Bass, B. M., & Avolio, B. J. (1993). Transformational leadership and organizational culture. Public Administration Quarterly, 17(1). 112-121. https://www.jstor.org/stable/40862298
Beckhard, R. (2006a). What is organization development? In J. V. Gallos (Ed.), Organization development: A Jossey-Bass reader (pp. 3-12). Jossey-Bass.
Beckhard, R. (2006b). The healthy organization. In Organization Development (In J. V. Gallos (Ed.), Organization development: A Jossey-Bass reader (pp. 950-952). Jossey-Bass.
Brouard, F., & Larivet, S. (2010.). Essay of clarifications and definitions of the related concepts of social enterprise, social entrepreneur and social entrepreneurship. In A. Fayolle & H. Matlay (Eds.), Handbook of research on social entrepreneurship (pp. 29-56). Edward Edgar.
Brown, K. (2021, December 21). 5 global issues to watch in 2022. https://unfoundation.org/blog/post/5-global-issues-to-watch-in-2022/
Chell, E. (2007). Social enterprise and entrepreneurship: Towards a convergent theory of the entrepreneurial process. International Small Business Journal, 25(1), 5–26. https://doi.org/10.1177/0266242607071779
Defourny, J. (2001). Introduction: From third sector to social enterprise. In C. Borzaga & J. Defourny (Eds.), The emergence of social enterprise (pp. 1–28). Routledge.
Defourny, J., & Nyssens, M. (2008). Social enterprise in Europe: Recent trends and developments. Social Enterprise Journal, 4(3), 202–228. https://doi.org/10.1108/17508610810922703
Di Domenico, M., Haugh, H., & Tracey, P. (2010). Social bricolage: Theorizing social value creation in social enterprises. Entrepreneurship Theory and Practice, 34(4), 681–703. https://doi.org/10.1111/j.1540-6520.2010.00370.x
Diochon, M., & Anderson, A. R. (2009). Social enterprise and effectiveness: A process typology. Social Enterprise Journal, 5(1), 7–29. https://doi.org/10.1108/17508610910956381
Dive, B. (2004). The healthy organization: A revolutionary approach to people & mangement. Kogan Page
Ho, J. T. S. (2000). Managing organizational health and performance in junior colleges. International Journal of Educational Management, 14(2), 62-73. https://doi.org/10.1108/09513540010315896
Jenner, P. (2016). Social enterprise sustainability revisited: an international perspective. Social Enterprise Journal, 12(1), 42–60. doi:10.1108/sej-12-2014-0042
Mair, J., & Martí, I. (2006). Social entrepreneurship research: A source of explanation, prediction and delight. Journal of World Business, 41(1), 36–44. https://doi.org/10.1016/j.jwb.2005.09.002
Martin, R. L., & Osberg, S. (2007). Social entrepreneurship: The case for definition. Stanford Social Innovation Review, 5(2), 28-39.
Michelman, P., & Drayton, B. (2009). Social entrepreneurship – Its past and future. https://www.hbr.org/ideacast/2009/05/social-entrepreneurship-its-pa.html
Nitayakasetwat, E. (2011). The development of social enterprises in Thailand and other countries: Case studies and best practice applications. NIDA Business Journal, 8, 95-125.
Noonin, S. (2014). Organizational analysis: Social enterprise. Journal of Social Sciences Srinakharinwirot University, 17, 358-372.
Pruetipibultham, O. (2010). The sufficiency economy philosophy and strategic HRD: A sustainable development for Thailand. Human Resource Development International, 13(1), 99-110.
Rink, F., & Ellemers, N. (2010). Benefiting from deep-level diversity: How congruence between knowledge and decision rules improves team decision makingand team perceptions. Group Processes & Intergroup Relations, 13, 345-359. doi:10.1177/1368430209344866
Rouna, W. E. A. (2005). Analyzing qualitative data. In R. A. Swanson & E. F. H. III (Eds.), Research in organizations: Foundations and methods in inquiry. Barrett-Koehler.
Russ-Eft, D., Watkins, K. E., Marsick, V. J., Jacobs, R. L., & McLean, G. N. (2014). What do the next 25 years hold for HRD research in areas of our interest? Human Resource Development Quarterly, 25(1), 5–27. https://doi.org/10.1002/hrdq.21180
Sansaneewitayakul, I. (2013). The analysis of social enterprise policy by using policy network approach. Modern Management Journal, 11(2), 39-57
Sengupta, S., & Sahay, A. (2017). Social entrepreneurship research in Asia-Pacific: Perspectives and opportunities. Social Enterprise Journal, 13(1), 17–37. https://doi.org/10.1108/sej-11-2016-0050
Shaw, E., & Carter, S. (2007). Social entrepreneurship: Theoretical antecedents and empirical analysis of entrepreneurial processes and outcomes. Journal of Small Business and Enterprise Development, 14(3), 418–434. https://doi.org/10.1108/14626000710773529
Short, J. C., Moss, T. W., & Lumpkin, G. T. (2009). Research in social entrepreneurship: Past contributions and future opportunities. Strategic Entrepreneurship Journal, 3(2), 161–194. https://doi.org/10.1002/sej.69
Sommit, K. (2014). Social business ventures situation under the social capital context in Hang Dong District, Chiang Mai. FEU Academic Review, 7(2), 120-131.
The Stock Exchange of Thailand. (n.d.). Social Impact Investment. https://www.set.or.th/sustainable_dev/en/social_impact_investment/about_p1.html
Thiemboonkit, S. (2016). An exploratory study of the development social entrepreneurship: Key concepts, characteristics, roles and success factors of social enterprise in Thailand. Academic Journal Institute of Physical Education, 8(1), 135-146.
Thompson, J. & Doherty, B. (2006). The diverse world of social enterprise: A collection of social enterprise stories. International Journal of Social Economics, 33(5/6), 361-375. https://doi.org/10.1108/03068290610660643
Thompson, J. L. (2008). Social enterprise and social entrepreneurship: Where have we reached? Social Enterprise Journal, 4(2), 149–161. https://doi.org/10.1108/17508610810902039
United Nation. (2015). Sustainability development goals: 17 goals to transform our world. https://www.un.org/sustainabledevelopment/sustainable-development-goals
Verschoor, C. C. (2003). Eight ethical traits of a healthy organization. Strategic Finance, NA+. https://link.gale.com/apps/doc/A118951795/AONE?u=anon~d518e05a&sid=bookmark-AONE&xid=7d03d490
Wattanamaekhinkul, B. (2007). The study of healthy organizational conceptual model: Case studies of 100 year-old Thai-owned private organizations in Thailand [Unpublished master's thesis]. National Institute of Development Administration
Yunus, M., Moingeon, B., & Lehmann-Ortega, L. (2010). Building social business models: Lessons from the Grameen experience. Long Range Planning, 42(2-3), 308–325. https://doi.org/10.1016/j.lrp.2009.12.005
