Digitalization challenges in Thais family business.

Abstract

ABSTRACT This study captures a variety of family businesses in Thailand as a consequence of intention, which may help the family business to plan the future. The study adopts the factors of the successful family businesses to the business innovation and digitalization framework. The result shows that most of the family businesses last only one generation and only one third can be successfully transferred from generation to generation. Furthermore, some of the specific family businesses have not been transferring further through digitalization due to internal and external factors. The business model, digitalization leadership, digital activity, stakeholder and investment plan are essential factors to drive family businesses. This research helps the family businesses to identify the consideration that they need to drive the businesses through the digitalization era.