Published on February 26, 2014
# 02 Thai Garment Industry Organizational Characteristics and Strategic Factors that Affect Corporate Performance
# 03 Chavalit Nimlaor – (Presenter) Dr. Jirasek Trimetsoontorn Dr. Wanno Fongsuwan Administration and Management College King Mongkut’s Institute of Technology Ladkrabang
# 05 1. Abstract/Research Methodology 2. In recent years – 2008 data 3. How far have we fallen and why? - 2013 4. The way out of the dark - 2014 & beyond 5. What does the research tell us? 6. Conclusion/Recommendations
# 06 Thai Garment industry to continue contraction Quantitative data was obtained from 178 TGMA Association members Qualitative data was obtained from 10 senior level industry executives
# 07 Thai garment industry employed over 1 million people per year Revenue exceeding 100 billion baht Thailand’s top export sector Totally integrated production and supply chain cycle
# 08 Thai garment industry had over 1 million workers
# 09 Thailand had 4,385 establishments
# 10 How far have we fallen and why?
# 12 Perpetual state of decline Feedstock import Shortage of skilled labor Rising mandatory government labor costs ASEAN competitor’s undercutting Thai companies
# 14 ‘Thailand in Turmoil over increase in minimum wage’ – October 2013 headline Minimum wage increased to 300 baht day Many rural located factories had to close Provinces use to set their own minimum wage
# 15 Lampang Province wages went up 81% Tak Province wages increased 85% Minimum wage of 300 baht day started Many rural located factories had to close or move outside Thailand Provinces use to set their own minimum wagethis was the reason for their competitiveness
# 16 Baht appreciation Raw material price increases Labor shortages Trade liberalization-especially China Daily minimum wage increase to 300 baht
# 17 2012 – exports plunged nearly 14% yearon-year to US$4.27 billion 2012 - Apparel exports fell 10% year-onyear to US$2.95 billion Devastating floods
# 18 The way out of the dark 2014 …and this study
# 21 To study the relationships and influencing factors of Organizational Characteristic and Corporate Strategy that influence the Corporate Performance of the Thai garment industry.
# 22 Organizational Characteristics Investment Size H2 Teamwork Leadership
# 22 Investment Size
# 22 Leadership
# 22 Teamwork
# 23 Research and Development (R&D) Product Differentiation Corporate Strategy Branding
# 23 Research and Development (R&D)
# 23 Product Differentiation
# 23 Branding
# 24 Profits H2 Corporate Performance Asset Value Competitive Advantage Cost Advantage Customer Responsiveness
# 26 Entrepreneurs must have a clear strategic vision keeping pace with change Businesses must have timely customer response while maintaining margins and competitive advantage
#27 The key factor that most directly influences the apparel industry performance is: Corporate Characteristic The industry must embrace R&D which raises the international image The importance of branding Leadership and workforce teamwork
#28 Thai social and economic conditions have changed dramatically Very limited skilled Thai and foreign workers Labor intensive industry ASEAN 2015 – Thailand cannot compete with CLMV countries (Cambodia, Laos, Myanmar and Vietnam)
#29 Thai wholesale and brand name industry very strong in ASEAN BUT It is necessary to put Bangkok on the global fashion industry map to compete with London, Paris, New York, Milan and Tokyo
#29 ASEAN growth strengthens the Thai regional fashion supply chainnel (manufacturer, retailer, logistics, supplier and distributor channel) Become a leader in fashion development Become a leading ASEAN garment exporter to a potential 650 million consumer and labor supply market
#30 Thailand must become a global garment and fashion industry exporter through large manufacturers Maintain high value operations in Thailand by focusing on marketing, administration, finance, R&D, logistics control, technical support, production and quality assurance
#31 Relocate or outsource production operations Or…transform to be a fashion agency for SME garment or fashion companies with their own retail operations Develop regional branding and expand into the ASEAN market like Fly Now, Saha, Pattana Group
#32 Become an ASEAN wholesale business by supplying new fashions, ‘quick style change’, ready stock or quick response and outsourcing sewing operations to local operators or neighboring CLMV countries Join together as a cluster/Co-Op to work in the supply chain for the public sector
#32 Promote Thailand as a tourist and fashion destination!
#33 Thank you for your time and attention.
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