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Nurturing and Transferring Entrepreneurship in Thai Business Families

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  • Rungluck Naksung
  • Opas Piansoongnern

Abstract

This research aims (1) to investigate patterns and phenomena of entrepreneurship formation in Thai business families; (2) to investigate practices of parent (the founders/predecessors of the business family) in nurturing and transferring entrepreneurship to their family members (successors); and (3) to build a model for nurturing and transferring entrepreneurship in Thai business families. The Semi-structured interview was used for collecting data from key informants who are potential successors of Thai business families. Eighteen potential family business successors participated in the interview. The study revealed that entrepreneurship in the Thai business families has been emerged since childhood developmental stages. The key practices of the Thai business families used for creating family entrepreneurship are- (1) Parental role modeling; (2) Parental family business practices; and (3) Parental support. However, the study disclosed and indicated that the founder or predecessor should build the family infrastructure before implementing any key practices. In this regard, the intellectual and mental factors were found as key elements. According to the findings, to be effective, these two factors must be created simultaneously.

Suggested Citation

  • Rungluck Naksung & Opas Piansoongnern, 2018. "Nurturing and Transferring Entrepreneurship in Thai Business Families," Journal of Entrepreneurship and Business Innovation, Macrothink Institute, Journal of Entrepreneurship and Business Innovation, vol. 5(1), pages 1-23, December.
    • Handle: RePEc:mth:jebi88:v:5:y:2018:i:1:p:23
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    References listed on IDEAS

    as
    1. P. A. Geroski & José Mata & Pedro Portugal, 2010. "Founding conditions and the survival of new firms," Strategic Management Journal, Wiley Blackwell, vol. 31(5), pages 510-529, May.
    2. Natenapha Yabushita & Akira Suehiro, 2014. "Family business groups in Thailand: coping with management critical points," Asia Pacific Journal of Management, Springer, vol. 31(4), pages 997-1018, December.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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