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International Business, 8th Edition by Michael H. Moffett, Iikka A. Ronkainen, Michael Czinkota

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PART 4 CASE 5

TAO KAE NOI SEAWEED SNACK

I like to eat seaweed and chestnut and that's why I am in this business. But you can't think just for today or tomorrow when doing business, you have to look much further than that,” said Aitthipat who founded a seaweed snack business, Tao kae noi, in 2004 when he was only 19 years old. Tao kae noi headquarters is located on a small plot on the outskirts of Bangkok, Thailand. The machines to produce the snacks cost almost 10 million baht. He became a millionaire at a tender age when his trade volume reached 75 million baht in 2005.

BRIEF COUNTRY BACKGROUND

Known as Siam in the past, Thailand is in the center of Southeast Asia surrounded by Laos, Myanmar (Burma), Cambodia, and Malaysia. Thailand is about the size of France and its total population in 2009 was 66 million. As a tropical country its temperature ranges from 23°C to 32°C.

Thailand's population is relatively homogeneous with Thais as the majority followed by Chinese and other ethnic groups. Chinese and other ethic groups have assimilated into the Thai culture although the Chinese are more likely to reside in urban areas and engage in business. Thais are predominantly Buddhists.

The country is comprised of 76 provinces divided into 4 regions: Central, North, Northeast, and South. Situated in the Central region, Bangkok is the capital city and is the center of political, commercial, industrial and financial activities. The unit of currency is the baht at 33 baht per U.S. dollar. ...

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