MANAGEMENT OF THAI HERBAL BUSINESS WITH BIO-ECONOMY SYSTEM IN THE WESTERN REGION OF THAILAND

Abstract

Objectives of this research article were: 1. To study the management of Thai herbal business with the bio-economy system in the western region of Thailand 2. To study the factors related to the bio-economy system in the western region of Thailand 3. To study the business environment Thai herbs with a bio-economy system in the western region of Thailand and 4. To study the management approach of Thai herbal business with a bio-economy system in the western region of Thailand. This research was qualitative research. Key informants were 25 people involved in the Thai herbal business in the western region of Thailand. The research tool was an in-depth interview script and data were analyzed by content-based descriptive interpretation.

The results showed that 1. Herbal business management is divided into operational plans, resources and finances, accounting systems, structure and roles, and information management aspects 2. The knowledge factor, understanding of the bioeconomy among the majority of managers, was better understood than entrepreneurs or farmers 3. The business environment, the strength of doing business due to the appropriate geographic location, the weakness in herb production was not certain quality because herb growers still lacked knowledge and expertise, lack of technology to help produce herbs to meet standards. The opportunity to have more channels to expand the herbal business market and market obstacles due to oversupply of herbs causing the price to be lower than expected; and 4. Management approach of Thai herbal business was found that it should be developed to promote Thai herbal business to increase economic value by promoting the potential of herb growers in the upstream, midstream and downstream stages.