May 4 / GEI

Combining Thailand and Vietnam for Business School Programs

Introduction
In the dynamic world of global business education, short-term faculty-led programs have surged in popularity, providing immersive learning experiences that traditional classroom settings cannot match. Among the mosaic of global destinations, Thailand and Vietnam stand out as particularly compelling for business schools aiming to equip their students with a nuanced understanding of international business. This post delves into why combining these two countries offers an unparalleled learning experience for business students, touching upon the unique business environments, innovative startup scenes, engagement opportunities, and cultural activities available.
Unique Business Environments
Thailand and Vietnam, though geographically close, offer distinctly diverse business landscapes that are ripe for exploration by business students.

  • Thailand: Known for its robust economy, Thailand excels in sectors such as automotive, agriculture, and electronics. It offers a blend of established corporate entities and a growing digital economy, making it an excellent case study on balancing traditional business practices with innovation.
  • Vietnam: Vietnam's rapid economic growth and integration into the global economy provide a fascinating study on economic reform and development. Its push towards becoming a hub for startups and technology innovation contrasts with its historical economic practices, offering students insights into economic transformation and growth strategies.

Engagement with business and political leaders in both countries can provide students with firsthand knowledge on how to navigate these unique markets, adapt business strategies, and understand the importance of cultural nuances in business practices.
  
Innovation and Entrepreneurship
The startup scenes in Thailand and Vietnam are vibrant and offer numerous learning opportunities for students interested in entrepreneurship and innovation.

  • Thailand: Bangkok, Thailand’s capital, is home to thriving entrepreneurship hubs like True Digital Park and HUBBA, which foster innovation across tech, health, and food sectors. Startups like aCommerce (e-commerce solutions) and Pomelo (fashion tech) exemplify the successful adoption of technology in traditional industries.
  • Vietnam: Ho Chi Minh City and Hanoi are at the heart of Vietnam's startup ecosystem, with spaces like Saigon Innovation Hub (SIHUB) and UP Co-working Space igniting the entrepreneurial spirit. Notable startups include VNG (Vietnam’s first unicorn, focusing on online gaming and technology) and Tiki (a leading e-commerce platform), showcasing the country’s prowess in digital innovation.

Through visits to these hubs and interactions with founders, students can gain valuable insights into launching and scaling businesses in emerging markets.

Multinationals' Strategic Shift
An emerging trend that further enhances the educational value of Thailand and Vietnam as destinations for business students is the shift of multinationals relocating their operations from China to these countries, among others. This move, driven by factors such as diversifying supply chains, cost management, and geopolitical tensions, offers a live case study on the complexities of global business strategy and operations management.

Students can witness firsthand the implications of such strategic decisions on local economies, labor markets, and the regional business ecosystem. Engaging with these multinationals provides insights into the challenges and opportunities of setting up and scaling operations in new environments, making Thailand and Vietnam even more relevant for those looking to understand the nuances of international business in today's volatile global landscape.

Engagement Opportunities
Practical engagement with the local business community through service-learning or consulting projects enhances the educational impact of short-term programs.

  • Service-Learning: Projects that involve working with local non-profits or social enterprises allow students to apply business concepts to real-world challenges, fostering a sense of global citizenship and social responsibility.
  • Consulting Abroad Projects: Collaborating with local companies on strategic issues offers students a hands-on experience in international consulting, honing their analytical and problem-solving skills.

Interaction with innovative local universities, such as Chulalongkorn University in Thailand and the National Economics University in Vietnam, further enriches the learning experience through seminars, workshops, and joint projects, facilitating an exchange of ideas and best practices.

Cultural and Extracurricular Activities
Beyond the classroom, Thailand and Vietnam offer rich cultural and natural landscapes that enhance the educational journey.

Thailand:
  • Explore the historic temples and vibrant street markets of Bangkok.
  • Participate in traditional Thai cooking classes to understand the cultural significance of food in Thai society.
  • Visit the breathtaking beaches of Phuket for team-building and relaxation.

Vietnam:
  • Experience the historical depth of Hanoi through its Old Quarter and the Ho Chi Minh Mausoleum.
  • Engage in community service projects in the rural areas, providing insights into Vietnam's agrarian society.
  • Discover the natural beauty of Ha Long Bay with a cruise, offering a break from the bustling city life.

These activities not only enrich students’ cultural understanding but also foster teamwork and personal growth, critical components of business leadership.

Conclusion
Combining Thailand and Vietnam for business school short-term faculty-led programs offers a multidimensional learning experience that is both enriching and practical. Students benefit from a deep dive into two contrasting yet complementary business environments, engage with the local startup ecosystems, and apply their knowledge in real-world settings. The cultural immersion and extracurricular activities round out the experience, making it not just an educational journey but a life-changing adventure. For business schools aiming to prepare students for the global stage, the Thailand-Vietnam combination is an exceptional choice.