51 Personnel expenses Other expenses Payback short-term loans & overdraft Interest expenses Purchase of production line Purchase of office equipment Purchase of securities Taxes Payment of dividends (of prev.period) Extraordinary expenses TOTAL OUTFLOWS CLOSING CASH BALANCE 3. Pro forma Balance Sheet Years 1 through 5 Company Name Pro forma Balance Sheet by Year As of………….. Year 1 Year 2 Year 3 Year 4 Year 5 ASSETS Current Assets Cash Short-term Investment Accounts Receivable Merchandise Long-term Investment Fix Assets Machinery & equipment Other Assets Total Assets LIABILITIES Current Liabilities Liabilities to banks Short-term loan Notes payable Account payable Other payable Long-term Liabilities Long-term loan
52 Bond payable Total Liabilities PROVISION FOR PENSIONS EQUITY Subscribed Capital Capital Reserves Retained Earning Total Liabilities plus Equities
53 Evaluation and Control Measuring Performance Performance is the end result of activity. The objectives that were established earlier in the strategy formulation part of the strategic management process should certainly be use to measure corporate performance once the strategies have been implemented. Measurement A firm needs to develop measures the performance. There are several types of measurement as follows. 1. Return on investment (ROI) The most commonly used measure of corporate performance. (in terms of profits) It is simply the result of dividing net income before taxes by total assets. 2. Earnings per share (EPS) Earnings per share, dividing net earnings by the number of shares of common stock issued, also has several deficiencies as an evaluation of past and future performance. 3. Return on equity (ROE) Return on equity, dividing net income by total equity, also has its share of limitations because it is also derived from accounting-based data. 4. Economic value added (EVA) Economic value added has become an extremely popular shareholder value method of measuring corporate and divisional performance and may be on its way to replacing ROI as the standard performance measure. EV A measures difference between the pre-strategy and post- strategy value for the business. Simply put, EV A is after-tax operating income minus the total annual cost of capital. The formula to measure EVA is: EVA = After tax operating income - (investment in assets x weighted average cost of capital) 5. Market value added (MVI) Market value added is the difference between the market value of a corporation and the capital contributed by shareholders and lenders. Like net present value, it measures the stock market's estimate of the net present value of a firm's past and expected capital investment projects. As such, MV A is the present value of future EVA To calculate MVA : 1 First add all the capital that has been put into a company from shareholders, bondholders, and retained earnings. 2 Reclassify certain accounting expenses, such as R&D, to reflect that they are actually investments in future earnings. This provides the firm's total capital. So far, this is the same approach taken in calculating EVA. 3 Using the current stock price, total the value of on understanding stock, adding it to the company's debt. This is the company's market value. If the company's market value is greater than all the capital invested in it, the firm has a positive MVA meaning that management has created wealth. In some cases, however, the market value of the company is actually less than the capital put into it shareholder wealth is being destroyed. 6. Balanced Scorecard Approach (Kaplan and Norton) The balanced scorecard combines financial measures that tell
54 the results of actions already taken with operational measures on customer satisfaction, internal processes, and the corporation's innovation and improvement activities-the drivers of future financial performance. Management should develop goals or objectives in each of 4 areas: 1 Financial: How do we appear to shareholders? 2 Customer: How do customers view us? 3 Internal Business Perspective: What must we excel at? 4 Innovation and Learning: Can we continue to improve and create value? Each goal in each area is then assigned one or more measures, as well as a target and an initiative. These measurements can be thought of as key performance measures that are essential for achieving a desired strategic potion. Control Control can be established to focus on actual performance result (output), the activities that generate the performance (behavior), or on resources that are use in performance (input) 1 Input controls focus on resources, such as knowledge, skills, abilities, values, and motives of employee. Input control (such as number of years of education and experience) are most appropriate when output is difficult to measure and there is no clear cause-effect relationship between behavior and performance (such as in college teaching) 2 Output controls specify what is to be accomplished by focusing on the end result of the behaviors though the use of objectives and performance targets or milestones. Output control (such as sales quotas, specific cost reduction or profit objectives, and surveys of customer satisfaction) are most appropriate when specific output measure have been agreed on but the cause-effect connection between activities and results is not clear. 3 Behaviors controls specify how something is to be done though policies, rules, standard operating procedures, and order from a superior. Behavior controls (such as following company procedures, making sale calls to potential customer, and getting to work on time) are most appropriate when performance result are hard to measure but the cause-effect connection between activities and results is clear. One sample of an increasingly popular behavior control is the ISO 9000 Standards Series on quality management and assurance developed by the international Standards Association of Geneva, Switzerland. The ISO 900 series is away of objectively documenting a company's high level of quality operation. The business plan remains the standard for describing the business in detail. The nine parts of the full business plan are outlined as table 1.
55 Form of Business Plan Table 1 Business Plan Outline 1. Cover Page—Name of venture and owners, date prepared, and contact person. 2. Executive Summary—One to three pages overview of the total business plan, mission statement, objectives, description of products and services, marketing plan, financial budgets. 3. Table of Contents—put the major section heading. 4. Description of the business—Background of the company origins, history of products or services, organization structure and company history in brief. 5. Marketing Plan—target market/area, market analysis, competitor analysis, industrial analysis, marketing strategy. 6. Production and Operational Plan—Manufacturing plan, quality control plan, states of patents, trademarks or copyright. 7. Ownership and Management Plan—Organizational chart, management team and employee policies. 8. Financial Plan—Pro forma income statements (5 years), Pro forma balance sheets (5 years), Pro forma cash flow analysis (5 years) and financial analysis. 9. Emergency Plan—this plan described the greatest risks, or challenges facing the firm, and how to preventing, insuring, repairing, or monitoring the situations. 10. Appendix—Narrative history of firm in detail, résumés of key employees, brochure describing products, letters of recommendation or endorsement, details of products and services, research and development, and etc.
56 III. Making the Business Plan Presentation There are 9 keys to making an effective business plan presentation as follows. 1. Know who is the reader or audience. 2. Demonstrate enthusiasm, but don't be too emotional. 3. \"Hook\" investors quickly with an up-front explanation of the new venture, its opportunities, and the benefits to them. 4. Keep it simple and to the point. 5. Avoid the use of technological terms. 6. Use visual aids. 7. Close by reinforcing the nature of the opportunity and the related benefits to investors. 8. Be prepared for questions. 9. Follow up with every investor to whom the firm makes a presentation. Strategic Decision-Maker Process. 1(a). Evaluation Current Performance Results. Elements Company Competitors Remark s 1. Single/Multiple SBU 2. Market Share 3. Profit 4. Growth or Expansion 5. Revenue 6. Other ___________ 1(b). Examine and Evaluate the current. Elements Company Competitor(s) 1. Mission: 2. Objectives:
3. Strategies: 57 4. Policies: Competitor(s) 2. Review Strategic Managers. Elements Company 1. Board of Director 2. Top Management 3. Other ______________ 3. Scan External Environment. Task Environment Competitive Force Societal Environment 1. Customers: 1.Sociocultural Force: 1. Buyer 2. Competitors: Power/Switching 2. Political-Legal Forces: cost: 3. Technological Forces: 4. Economic Forces: 2. Rival exist: 3. Communities: 3. Potential 4. Creditors: Entrants: 4. Substitute: 5. Employee/Labor Union: 6. Government: 7. Stockholders: 5. Other Stockholder: 8. Special Interest Group(s):
9. Supplier(s): 58 10. Trade 6.Supplier Power Association: 4. Scan Internal Environment. 4.1 7-S Framework: 1. Structure: 2. Style: 3. Skill: 4. Staff: 5. System: 6. Strategy: 7. Share Value: 4.2 PIMS(Profit Impact of Market Strategy)Analysis.(For High ROI). 1. Investment Intensity: 2. Market Share: 3. Relative Product Quality: 4. Capacity Utilization: 5. Operating Effectiveness: 6. Relative Direct Cost per unit: 4.3 Value Chain affect profit margin. Primary Activities(Strength or Weakness) Support Activities(S or W) 1. Inbound Logistics(raw material, 1. Firm Infrastructure(gen mgt, acct, handling, warehouse). fin, str.planning). 2. Operation(machine, assembling, 2. HRM(recruit, training, devl). testing). 3. Outbound Logistics(warehouse and 3. Tech Development(R&d, distribution). Process Improvement).
4. Marketing and Sales(advertising, 59 promotion, price, distribution). 4. Procurement(purchase raw mat, 5. Service(installation, repair, parts). machine). . 4.4 Functional Analysis. 1. Structure: 2. Culture: 3. Resources: 3.1 Marketing(Market Target, Position, PLC, Marketing Mix). 3.2 Finance(Use and Source of Fund, Capital Budget, Break-Even Analysis, etc). 3.3 Research and Development(Basic, Product, Process, R&D mix, Technology). 3.4 Operation(Make/Buy, Manufacturing process, CAD/CAM, etc). 3.5 HRM(Job Analysis, Selection, Performance Appraisal, etc). 3.6 Information System(Internal or External IS). 5(a). Analysis Strategic Factors of Current Situation. 5(a).1 S.W.O.T(TOWS) Matrix. External(EFAS) / Strength(s) Weakness(W) Inter(IFAS) 1. 1. 2. 2. 3. 3. 4. 4. 5. 5. 6. 6. WO Strategies Opportunities(O) SO Strategies 1. WT Strategies 2. 3. 4. 5. 6. Threats(T) ST Strategies 1. 2.
60 3. 4. 5. 6. 5(a).2 Portfolio Analysis. 1. BCG(% of Star, Cash Cow, ?, and Dogs products) 2. GE(9 cell of Ind Attractive/ Competitive Position). 3. 15-cell Product/Market Evolution Matrix. 5(b). Review and Revise Mission and Objectives. Current New -Mission: -Objectives: -Policies/Strategies: 6. Generate Evaluate and Select Best Alternative. Alternative __. Advantages Disadvantages Level 1. Corporate Strategy: 2. Business Strategy: 3. Functional Strategy: 3.1 Marketing: 3.2 Financial: 3.3 R&D: 3.4 Operation: 3.5 HRM: 3.6 Other: STARTSIM Program & Materials
61 References Hacker, Robert C. \"7 steps to a successful business plan.\" Target Marketing. Feb. 1997, v20 n2 p33(2). Reilly, Brian. \"DMA puts focus on Web marketing.\" Business Marketing. Nov. 1996, v81 n9 p2(2). Cornillie, Tim. \"Add maneuverability to your marketing plan.\" Mediaweek. Oct. 21, 1996 v6 n40 pS15(2). Dennis, Michael C. \"The limitations of financial statement analysis.\" Business Credit. Feb. 1995, v97 n2 p32(2). Sack, Karen J. \"Composite industry data.\" Standard & Poor's Industry Surveys: Retailing. Dec. 19, 1996 v164 n51 p25(2). Reich, S. and Andre Shih. \"Profit analysis crucial in asset-liability management.\" American Banker. Jan. 15, 1997 v162 n10 p22(1). Artz, W. and Raymond Neihengen Jr. An analysis of finance company ratios in 1994.\" Journal of Commercial Lending. Sept 1995 v78 n1 p33(8). John A. Pearce, Richard B. Robinson, Formulation, Implementation, and Control of Competitive Strategy : McGraw-Hill International Education. Jerome A. Katz, Richard P. Green, Entrepreneurial Small Business McGraw-Hill International Education. Thomas L. Wheelen, J. David Hunger, Strategic Management and Business Policy : Pearson Education International. Longenecker, Moor, Petty, Small Business Management :South- Western College Publishing Ohio: 1997, pp. 730 Robert D.Hisrich and Michael P.Peters, Entrepreneurship 5ed, McGrow-Hill/Irwin: 2002, pp.663 Jerome A.Katz and Richard P.Green, Entrepreneurial Small Business, Mc Grow Hill International Edition, McGrow-Hill Irwin, 2007, pp.595 Amit, R. & Schoemaker, P. J. (1993). Strategic assets and
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66 VUTTICHAT SOONTHONSMAI Hometown: 493/2 Isaraphap Rd. Office: Department of International Business Bangkoknoi College of Economics and Business Bangkok 10700 Thailand Hankuk University of Foreign Studies, Korea Phone (662) 411-0621 Fax (662) 412-2212 Phone (82) 31-330-4285 E-mail: [email protected] Homepage: http://www.vuttichat.com, http.www.bisbuu.com CURRENT POSITION Associate Dean for Planning and Research, Faculty of Humanities and Social Sciences(July 2003-Aug 2007) Associate Professor, Hankuk University of Foreign Studies, South Korea. and Burapha University, Chonburi, Thailand. EDUCATION D.B.A in Marketing and second major in International Business, 2000 Nova Southeastern University, Fort Lauderdale, Florida, USA. M.B.A with concentration in Marketing, 1995 University of Mississippi, Oxford, Mississippi, USA. M.A. in Industrial and Organization Psychology, 1995 Thammasat University, Bangkok, Thailand. M.A. in Mass Communication & Communication Research, 1991 Thammasat University, Bangkok, Thailand.
67 M.B.A. with concentration in Marketing, 1987 Chulalongkorn University, Bangkok, Thailand. B.S. in Applied Statistics, 1984 Chulalongkorn University, Bangkok, Thailand. PROFESSIONAL EXPERIENCE Associate Professor at School of Business and Administration, 2004-Present. Burapha University, Chonburi, Thailand. Assistant Professor at School of Business and Administration, 1994-2004. Burapha University, Chonburi,Thailand. Instructor at School of Management Science, 1990-1994. Sukhothai Thammathirat Open University, Nonthaburi, Thailand. Marketing Manager, 1987-1990. Krungthai Bank Ltd.(the State-owned Enterprise), Bangkok, Thailand. Computer System Analyst/Application Programmer, 1984-1987. Krungthai Bank Ltd., Bangkok, Thailand. CERTIFICATIONS Certificate of STARTSIM, “Train for the Trainer”, ASIA Link Project, sponsored by The European Commission, 2005-2007. Certificate of Professional Management in Higher Education for the high-ranked Administrative, Songkla, Thailand, 2006. Professional Certified Marketer (PCM), American Marketing Association, USA., 2001. Certificates in the following specialties from Ecole Hotelier De Lausanne (School of Hotel Management), Switzerland held in Bangkok, Thailand, 1994. - Marketing & Communication Management. - Effective Front Office Management. - Effective Food & Beverage Management . - Housekeeping Management. Certificate in English for Communication from University of Cambridge, Cambridge, England., 1993. TRAINING Thai-American cultural exchange program held for the Royal-Thai government scholarship grantees at University of North Texas, Denton, Texas, USA., 1995. One-week business administration instruction and curriculum training at University of Pakanta, Kuala Lumpur, Malaysia and the National University of Singapore, Singapore., 1990.
68 RESEARCH EXPERIENCE AND PAPER PRESENTATION Soonthonsmai, Vuttichat. (2007). Environmental or Green Marketing as Global Competitive Edge: Concept, Synthesis, and Implication, paper presented at the European Applied Business Research Conference, Venice, Italy. Soonthonsmai, Vuttichat. (2007). An Integrated Study of Research on One Tambon One Product (OTOP) and Small and Medium-sized Enterprises(SMEs) management in Thailand funded by National Research Council of Thailand, Ministry of Minister, Thailand. Soonthonsmai, V, & Imlek, K. (2007). Service Quality Perception of Homestay Tourists in The eastern region of Thailand, funded by National Research Council of Thailand, Ministry of Minister, Thailand. Soonthonsmai, Vuttichat. (2007). Market Orientation and Entrepreneurial Orientation of Herbal Manufactures and Distributors : A Case study of Eastern region of Thailand, funded by the Faculty of Humanities and Social Sciences, Burapha university, Thailand, paper presented at the 2nd Meeting of STARTSIM Project, Faculty of Humanities and Social Sciences, Chonburi, Thailand. Soonthonsmai, V. & Rojanarongtawee, T.(2007). The Essential of Marketing Knowledge for Development of Potentiality and Sustainability of Homestay owners in Tapong district, Rayong Province, Thailand, funded by National Research Council of Thailand, Ministry of Minister, Thailand, paper presented at the Faculty of Humanities and Social Sciences 1st Conference, Chonburi, Thailand. Soonthonsmai, V, & Rojanarongtawee, T.(2007). The Essential of Marketing Knowledge for Development of Potentiality and Sustainability of Homestay owners in Koh Chang district, Trad Province, Thailand, funded by National Research Council of Thailand, Ministry of Minister, Thailand, paper presented at the Faculty of Humanities and Social Sciences 1st Conference, Chonburi, Thailand. . Soonthonsmai, Vuttichat. (2007). The Transfer of Knowledge for Development of Potentiality and Sustainability of Homestay owners in Tapong district, Rayong Province, Thailand, funded by National Research Council of Thailand, Ministry of Minister, Thailand, paper presented at the Faculty of Humanities and Social Sciences 1st Conference, Chonburi, Thailand. Soonthonsmai, Vuttichat. (2007). The Transfer of Knowledge for Development of Potentiality and Sustainability of Homestay owners in Koh Chang district, Trad Province, Thailand, funded by National Research Council of Thailand, Ministry of Minister, Thailand, paper presented at the Faculty of Humanities and Social Sciences 1st Conference, Chonburi, Thailand. Soonthonsmai, Vuttichat. (2006). The Development of Potentiality and Sustainability of Homestay owners in Tapong district, Rayong Province, Thailand, funded by the Higher Education Commissioner, Ministry of Education, Thailand, paper presented at the 2nd Research Conference, Chiangmai university, Chiangmai, Thailand. Soonthonsmai, Vuttichat. (2006). The Development of Potentiality and Sustainability of Homestay owners in Koh Chang district, Trad Province, Thailand, funded by the Higher Education Commissioner, Ministry of Education, Thailand, paper presented at the 2nd Research Conference, Chiangmai university, Chiangmai, Thailand. Soonthonsmai, V, & Reungreungdee, O. (2005). A Comparative study of Corporate culture and Leadership style of Thai and Korean Managers in The Thai-Korean Multinational Company, paper
69 presented at the 1st Korean-Thai Research Conference, Burapha university, Chonburi, Thailand. Soonthonsmai, Vuttichat. (2004). Tourists Expenditure, Behavior and Travel Patterns in Central and Eastern region of Thailand, funded by the Tourist Authority of Thailand, Ministry of Sports and Tourism, Thailand. Soonthonsmai, Vuttichat. (2003) Purchasing Behavior and Adoption Process of consumers in the Eastern region of Thailand: A case Study of Chonburi, Chachengsao, Rayong, and Prachinburi province, funded by the Research funds of Faculty of Humanities and Social Sciences, Burapha university, Chonburi, Thailand. Soonthonsmai, Vuttichat. (2000). Predicting Intention and Purchasing Behavior of Environmental Sound or Green Products among Thai consumers submitted for Doctorate dissertation to Wayne the Huizenga Graduate School of Business and Entrepreneurship, Nova Southeastern University, Fort Lauderdale, Florida, USA. Soonthonsmai, Vuttichat. (1996). The Relationships among leadership style, decision-making style and job satisfaction of Environmental Protection Agency in Thailand, submitted for Master thesis, to Department of Industrial and organization Psychology, Thammasat University, Bangkok, Thailand. Soonthonsmai, Vuttichat. (1995). The Study of Profile and Perception of Oxford Town local newspaper's reader, Master of Business Administration project sponsored by The Small Business Institute, University of Mississippi, Oxford, Mississippi, USA. Soonthonsmai, Vuttichat. (1991). Interpersonal Communication of Thai Life-insurance salesperson affecting to the decision of policy holder, submitted for Master thesis to School of Journalism and Mass Communication, Thammasat University, Bangkok, Thailand. Soonthonsmai, Vuttichat. (1983). The study of Source of Fund and problems in doing business of the fishermen of East coast of Thailand (Rayong Province), submitted for the research project sponsored by School of Commerce and Accountancy, Chulalongkorn University, Bangkok, Thailand. TEACHING EXPERIENCE Hankuk University of Foreign Studies, Department of International Business, Ygon-in campus, South Korea, 2007- present. Burapha University, Chonburi, Thailand, 1995- present. - Graduate level: Ph. D Program course: Research Methodology in Human Resource Development (teaching in English) MBA Program courses: Marketing Management Strategic Marketing Business Statistics (teaching in English and Thai) Marketing Research (teaching in English and Thai) Business Research Methodology (teaching in English and Thai), MM Program (Master of Management) Marketing for Management (teaching in English and Thai) Marketing for SME Management Business Statistics (teaching in English and Thai), and Business Research Methodology (teaching in English and Thai).
70 - Undergraduate level: Marketing Management, Marketing Research, Seminar in Marketing, and Strategic Management and Business Policy. Sukhothai Thammathirat Open University, Nonthaburi, Thailand, 1990-1995. - Undergraduate level: Marketing Management, Organizational Behavior and Personnel Management, and Statistics and Research for Mass Communication. Bangkok University, Bangkok, Thailand, 1990-1995. - Undergraduate level: Marketing Communication, Consumer Behavior, Marketing Channel and Distribution, and Retail Management. Saint John University, Bangkok, Thailand, 1991-1995. · Undergraduate level: Quantitative Analysis for Marketing, and Consumer Behavior PUBLICATIONS Handbook (in Thai) Soonthonsmai, V, & Rojanarongtawee, T.(2007). Marketing for Homestay., Burapha university, Thailand. Soonthonsmai, V & Imlek, K & Sanglimsuwan, S.(2007). Service for Homestay., Burapha university, Thailand. Soonthonsmai, V, & Ungkanurakpun, C & Surarunum, T.(2007). English for Communication for Homestay., Burapha university, Thailand. Soonthonsmai, V, & Chaiket, N, & Meesuk, S.(2007). Financial and Accounting for Homestay., Burapha university, Thailand. Soonthonsmai, Vuttichat.(2005). Marketing Research for Cooperative Management, Burapha university, Thailand. Soonthonsmai, Vuttichat.(2005). Marketing Management for Cooperative Management, Burapha university, Thailand. Books (in Thai) Soonthonsmai, Vuttichat.(2007). Marketing Research : Texts and Cases, Burapha university, Thailand. Soonthonsmai, Vuttichat.(2007). Business Research, Burapha university, Thailand. Soonthonsmai, Vuttichat.(2006). Consumer Behavior, Burapha university, Thailand. Chapters in Books (in English) Soonthonsmai, Vuttichat.(2007). “Introduction to Business plan writing,” and “How to develop the entrepreneurship business strategy,” in Intercultural Business Creation book for educational Training under STARTSIM (Start-up Simulation) program in Asia-Link Project sponsored by European Union. (In progress) Chapters in Books (in Thai)
71 Soonthonsmai, Vuttichat.(2006). “Marketing & Management Strategy Cases,” in Professional Experiences in Management, (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(2006). “Marketing Strategy Cases,” in Professional Experiences in Marketing, (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(1995). “Marketing Research and Methodology, Product Management and Market Promotion Strategy,” in Marketing Management For Manager, (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(1994). “Product Policies and Strategy,” in Operation Management and Marketing Management, (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(1994). “Promotion Strategy,” in Operation Management and Marketing Management,” (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(1993). “Product Life Cycle Management,” in Product and Price Management, (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(1992). “Salesmanship,” in Sales Management, (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(1992). “Consumer Behavior in Sales management,” in Sales Management, (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(1992). “Marketing Communication,” in Consumer Behavior, (Sukhothai Thammathirat Open University Press). Soonthonsmai, Vuttichat.(1992). “Forecasting in Operation Management,” in Operation Management and Financial Management, (Sukhothai Thammathirat Open University Press. Soonthonsmai, Vuttichat.(1992). “Plant Layout and Operation Capacity,” in Operation Management and Financial Management, (Sukhothai Thammathirat Open University Press.
72 Articles in Refereed Journals (in Thai) Soonthonsmai, V. & Taweelerdsabsin, J. (2007). Needs for Training and Human resource development of Small and Medium sized Enterprises (SMEs) Manufacturers in Chonburi, Thailand, Journal of Social Sciences, Rajhaphap Walailongkorn, Bangkok, Thailand, Vol 3, No.3, pp. 48-69. Soonthonsmai, V. & Lengsmankul, N. (2007). The Evaluation of Efficiency and Business Performance of Small and Medium sized Enterprises (SMEs) attending the New Entrepreneur Creation (NEC) at Burapha University, Chonburi, Thailand, Journal of Social Sciences, Rajhaphap Walailongkorn, Bangkok, Thailand, Vol 3, No.3, pp. 89-102. Soonthonsmai, V. & Reumrat, P. (2004). Needs for Master of Business Administration (MBA) graduates of the companies located in the eastern region of Thailand, Journal of Burapha Commerce, Vol 1, No.2, pp. 29-45. Soonthonsmai, Vuttichat. (2003), “Consumer’s adoption process and behavior in purchasing the herbal products in Thailand,” Journal of Humanities and Social Sciences, Vol. 10, No. 3, June, pp. 35- 55. Soonthonsmai, Vuttichat. (1993), “Marketing Research for general Manager,” Thailand Productivity Journal, Vol. 12, No. 1, January, pp. 5-18. Soonthonsmai, Vuttichat, (1992), “Innovation! Marketing Challenge,” Thailand Productivity Journal, Vol. 11, No. 9, October, pp. 10-22. Articles in Professional Marketing and Business Management Magazine (in Thai) There are 20 consumer behavior related to marketing and service marketing articles and more in the monthly Strategic & Marketing magazine, published by the Thai Magazine group, Thailand. PROFESSIONAL EXPERIENCES AND ACTIVITIES International Affairs Project Manager (Country representative) in STARTSIM project for Training the Entrepreneurial skilled by network start up simulation with the 4 university Partners from 4 countries: Germany, Spain, China, and Thailand, sponsored by the European Commission with the ASIA Link program, 2005-2007. Thailand Representative participation in the ASEAN of Graduate school of Business and Economics Program (AGBEP) 4th meeting at National University of Singapore, Singapore, 2003. Thailand Representative participation in the ASEAN of Graduate school of Business and Economics Program (AGBEP) 5th meeting at University of Brunei, Brunei, 2004. Thailand Representative participation in the ASEAN of Graduate school of Business and Economics Program (AGBEP) 6th meeting at Della Sell University, the Philippines, 2005. Thailand Representative participation in the ASEAN of Graduate school of Business and Economics Program (AGBEP) 7th meeting at Chulalongkorn University and Burapha university, Thailand, 2006. Thailand Representative participation in the ASEAN of Graduate school of Business and Economics Program (AGBEP) 8th meeting at University of Indonesia, Indonesia, 2007.
73 Member of the following professional organizations: American Marketing Association. Nova Southeastern University Alumni. University of Mississippi Alumni. Thailand Committee in the University Academic Council, Rachaphat Moo Ban Jombeung University, Thailand, 2007-Present. Member Marketing Association of Thailand. Guest Speaker in topics: A Sustainability Competitiveness development for the Thai Exporters, held by the Department of Export Promotion, Ministry of Commerce, Thailand, 2007. How to develop an effective Marketing Plan for entrepreneur, held by the Department of Industrial Promotion, the Ministry of Industry and Burapha university (New Entrepreneur Creation (NEC), Thailand, 2005-2007. An Effective Marketing Research strategy, held by the Department of Industrial Promotion, the Ministry of Industry, Thailand, 2005-2007. A Sustainability Tourism across the borders among the ASEAN, held by the JICA and the office of University Service, Burapha university, Thailand, 2006 Team Building, Human relationship and Leadership, held at Ministry of Education, Bangkok, Thailand, 1993-1995. How to serve the target market effectively, held at Communication Authority of Thailand, Bangkok, Thailand, 1994-1995. Marketing for Tourism industry, held at School of Management Science, Sukhothai Thammathirat Open University, Nonthaburi, Thailand, 1994. RESEARCH INTERESTS AND EXPERTISE - SMEs development and networking (Service area) - Cross-cultural consumer behavior - Global Service Marketing - Environmental/Ecological Marketing - Ethical Marketing HONORS, AWARDS AND SCHOLARSHIPS - Sigma Beta Delta, an International Honor Society for Business School in the US. -The Royal-Thai Government Scholarship for pursuing doctorate degree in Business Administration in the U.S., 1996-2001.
74 -Beta Gamma Sigma, an Honor Society for Business and Management School in the US. -The Royal-Thai Government Scholarship for pursuing master degree in Business Administration in the U.S., 1995-1996. -Two-year educational Award from Thailand Association of Life Insurance, 1983-1984.
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