The critical success factors in Thai jewelry industry

Abstract

The objective of this thesis is to propose the critical success factors of Thai jewelry industry to entrepreneurs, Thai government and related private organisations. Moreover, this thesis aims to suggest strategies to develop jewelry industry, to maintain and to strengthen its potential in the global market. The scope of research focuses on jewelry industry only, whose main products are: gold, silver, platinum, and other valuable metals setting. The first stage of this thesis methodology is to collect on general information on industry as the basic understanding of the report. Then, internal and external factors of the industry were analysed to identify the strengths, weaknesses, opportunities and threats of Thai jewelry industry. Finally, the critical success factors and supportive strategies, which could further develop the competitive advantage of Thai jewelry industry, are recommended. The outcomes from the market analysis showed that most of Thai jewelry is in medium-end market. Moreover, the potential of Thai jewelry industry has decline trend because of both internal factors and external factors from the continuous development of competitors and the decline economic situation of customers. Therefore, the vision of this research is the survival of Thai jewelry industry in medium-end market. The result from this study indicated eight critical success factors to survive in medium-end market of Thai jewelry industry such as raw material, human resource, capital, technology, marketing, tax and governmental regulation, image and brand name, and internet. Consequently, this thesis has suggested supportive strategies to achieve those critical success factors. Moreover, this study could be used as guideline for similar studies or deeply studies in the fature.