Business Transformation Framework for Supporting Thai SMEs Viability

Small and medium-sized enterprises (SMEs) play an essential role in the global economy by driving innovation, creating employment opportunities, and fostering economic growth. The COVID-19 pandemic has forced SMEs worldwide to hastily adopt digital business models to adapt and thrive in these challenging times. Similar pressures force Thai SMEs to undergo transformation in order to survive weather the crisis, boost operational efficiency, and gain a competitive edge. Business transformation is relatively new for SMEs in Thailand, with few established success stories to follow as standard practices. This study aims to introduce a novel business transformation framework by applying the SOSTAC model, Joint Application Development (JAD), E-Commerce, and Gap Analysis to 25 SMEs in the restaurant sector based in Chiang Rai, Thailand. Initial findings suggest that this transformation has been successful, with improvements measured across four key business objectives: promoting the business online, providing simple customer access, accepting orders online, and increasing sales.