Conclusions
This study aimed to investigate the entrepreneurial orientation effects on Thai SMEs’ growth through the study of related theories and research, including in-depth interviews with experts and entrepreneurs who have significant experience in the field. The results of the study showed there were 10 particular characteristics of EO that affected Thai SMEs growth. The study can be summarized as follows:
1) Entrepreneurial orientations have affected Thai SMEs’ growth and they are caused by the entrepreneurs’ characteristics. These include: knowledge and competency and skills, innovation, proactivity, learning, patience, ethics and honesty, determination to attempt and achieve as well as marketing and analysis of competitors.
2) Entrepreneurial orientation is related to external factors, such as entrepreneurial networks.
3) Business owners who encourage their employees to express their opinions and make decisions display an important trait of entrepreneurial orientation.
This study is mainly based on data obtained from related theories and research coupled with interviews with experts and entrepreneurs who are involved in this field as well as with experienced entrepreneurs. Further study is suggested to analyze the data applying statistical tools in order to be sure of EO’s effects on Thai SMEs’ growth. In addition, statistical analysis can help to identify the direction, influence and magnitude of EOs, so as to compare and contrast differences among entrepreneurial orientations, especially those caused by business characteristics.