Smith School Hosts Thai American Business Program Conference

William Klausner, president of the James H.W. Thompson Foundation, said it best: “The road to the future is always under construction.” At the Thai American Business Program Conference on March 3, hosted by the Robert H. Smith School of Business, and co-sponsored by the Royal Thai Embassy and Smith School’s Center for International Business Education and Research (CIBER), former U.S. Ambassador to Thailand William Itoh quoted just that about Thailand as a whole.

The Smith School finds itself in the enviably unique position of being the only American business school with a direct relationship with the Thai government. From study abroad opportunities to intensive faculty research, this mutually beneficial relationship, in the words of Pat Cleveland, associate dean of undergraduate studies, aims to support collaboration with Thai universities and the business community in Thailand, as well as to help educate students and faculty about our “amazing, shrinking planet.”

G. “Anand” Anandalingam, dean of the Smith School, opened the conference by expressing how deeply important this relationship is for the Smith School, as he would like “all of our expertise to propagate globally.” The dean hopes to add an executive program in Thailand within the next two years.

Further clarifying the need for a partnership of this level, Charge d’Affaires, a.i., Damrong Kraikruan, of the Royal Thai Embassy, expressed Thailand’s desire to further progress as the transportation hub of Eastern Asia. Possessing the 18th largest airport in the world, which served over 31 million travelers in 2008, as well as a booming export- and tourism-based economy, Thailand has recognized a need for a better infrastructure. “We have to join hands between the government and the private sector to harness the resources in the country,” Kraikuan said. “We need investments, capital, and given the conflicts that continue to rise between Thailand and neighboring countries, more needs to be done. I beg people to look into this and explore business ventures in Thailand, which will yield incalculable multiplying effects for the entire region, which is one of the fastest-growing regions of the world.”

And the Smith School intends to help with just those requests. Presenting research and analysis on entrepreneurship, logistics & supply chain management, and marketing & branding, Smith faculty members and PhD students assessed the state of Thailand’s economy as it stands and made carefully crafted suggestions as to how the economic and branding issues the country faces might be mended.

Murray Hiebert, senior director for Southeast Asia at the U.S. Chamber of Commerce, was the plenary speaker.

Plenary speaker Murray Hiebert, senior director for Southeast Asia at the U.S. Chamber of Commerce, aided in helping the audience understand both the opportunities and challenges. As opportunities, Hiebert identified a relatively politically stable climate, a thriving health tourism industry, an enthusiastic and readily available work force, and pointed out Thailand as a sizable export and manufacturing hub in Asia. He identified challenges as the global economic downturn, a revision of the Foreign Business Act that forced U.S.-owned companies to quickly sell down their Thai holdings, and issues with disregarding intellectual property rights. Having lived in Thailand for several years as a journalist with the Wall Street Journal, Hiebert brought a unique perspective to his insight.

Another unique insight provided at the conference was that of Lynne LaCascia, senior consultant for FutureBrand. Elaborating on the idea that one can brand a country, LaCascia shared the secrets of strong country brand-building, heavily emphasizing market research and identifying “competitors” in the travel industry.

Attracting attendees with Thai interests from both the public and private sectors, the event proved enlightening overall. Many walked away with a deeper understanding of Thailand as a nation, and even better, as a robust investment opportunity.

Amy Taylor, Office of Marketing Communications