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Thai Executives Ponder Future of Businesses.
Byline: Cholada Ingsrisawang
Sep. 3--Has the end come for the traditional family business in Thailand? Globalisation, social and political change and the economic crisis have seen the influence of dozens of Thailand's most powerful business families reduced to just a shadow of their former prominence.
Conventional wisdom today might argue that the family business structure cannot survive for a typical conglomerate in today's competitive markets.
Yet some families remain confident of the ability to adapt, drawing on the past experiences of their ancestors.
"We've been fortunate, I think, to have continued our focus in the agricultural sector, one of the original businesses of the family," says Korbsook Iamsuri, chief executive of the Kamolkij Group.
"Not only that, but we were also cautious in expanding into the property sector [during the boom]. For that, you have to credit the people in the second generation of the family."
Mrs Korbsook, 42 years old, represents the third generation of the Iamsuri family, which traces back over 100 years to when Yi Guangyan, the head of the family line, emigrated to Thailand from a village in Guangdong province.
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