Business Culture and Customs

As promised...

So today in CSR class I learned a few new things about Business Culture and Customs. We talked about two of the more sustainable Thai companies, Siam Cement Group and CP Foods. The companies are very different in some ways - one is supported by the Thai monarchy, and the other was started by Chinese entrepreneurs. But some of the similarities reflect a darker side of how business is done - rumors of bribery, corruption, payoffs to government officials, and no financial trail of fines paid and political donations. In fact, speaking with some Thai students, they admit that sometimes corruption is the way business gets done in Southeast Asia - though acknowledging that doesn't make it right. Keep in mind Thailand is surrounded on all sides by Communist and dictatorial governments...

Thailand is clearly the business center of Southeast Asia, and Bangkok is the heart of that. There are numerous banks in Thailand, and multi-national companies headquartered here. Business culture is influenced by the type of company - many are private owned companies, usually by either Thai or Chinese people (there are many people in Thailand of Chinese descent, and most of the larger companies are owned and run by Chinese Thai) - some are government or monarchy owned. One of the traditional Thai customs is the "wai" - a greeting that is a slight bow with hands together. However, much of Thai business has adapted to Western standards.