International entrepreneurial culture of Thai SMEs

This study examines an entrepreneurial culture of international small and medium-sized enterprises (SMEs). Organizational culture is one of the crucial aspects that can differentiate one firm from another. We highlight the role of organizational culture under a new construct International Entrepreneurial Culture (IEC), with a particular emphasis on how cultural values embedded in organizational cultures might influence SMEs’ performance through a strategic management process. Using data from SMEs engaged in international transactions based in Thailand, results suggest that IEC consists of three dimensions which are somewhat different from what was conceptually explained in the literature. The combination of these dimensions significantly affects strategy formulation and strategy implementation in a consequential manner, although it is not directly influential in international performance. The findings offer theoretical contribution in the international entrepreneurship literature as well as managerial implications for policy makers dealing with SMEs in small open economies found in emerging markets.