Key success factors of an elderly nursing home: the case study of Baan somtawin.

Abstract

Thailand has moved into the aging society since 2005 but the rate of increasing the aged population is growing rapidly. It was around fifteen years ago that Thailand stepped into an aging society and just only about a decade that people starting to realize about it and probably five years ago that aging society has become “the topic of the day” in terms of business aspects. Today, rather than the government’s elderly nursing home, many nursing homes from the private sector are open with the trend of increasing competition as the aging society becomes new business opportunities. There is a nursing home which is one of the very first private nursing homes for the elderly was established in 1990, even before Thailand shifted into an aging society. It survived in the business for almost thirty years and up until now, it passes the achievement to the hands of the second generation of the owner. This paper aims to examine what are the keys to their success. What is the strategy to handle the business in a hard time and to survive before the wave until the right wave comes.