There are common calls for economies to 'upgrade' and 'upskill' and move up the value chain. On this basis, the research here highlights the importance of integration and the inter-locking nature of business systems. It then examines the 'varieties of capitalism' (VOC) in respect of its wider applicability, particularly to Asia, using Thailand as an example. Finally, the influence of national cultural values is highlighted, as they prove a crucial element in any VOC analysis.