Creating Shared Value in Thai SMEs for Competitive Advantage

Abstract

The Business practices of SMEs wishing to apply the Creating Shared Value for competitive advantages strategy should only focus on improving society in general, or not to create a marketing image for the organization. However, it is also about adopting activities or a projects to create awareness of all parties involved both within the organization and without the organization rather than just solving social problems. It also has to be based on the expertise of the organization to create activities that result in more action than just providing information to third parties. When solving local community problems, the context of the location of the organization will be relevant at the societal level, community level and might also affect social change on a global scale. Therefore, to develop SMEs business operation by applying Creating Shared Value for competitive advantages strategy, it is important to focus on the following: 1) The invention of new products should meet the needs of the society and the community, 2)There should be a new standard set for productivity that will focus on social issues, community as well as the Value Chain and 3) The development of the basic infrastructure should be supported in the context of the local community, but still remain conducive for business.