RSUSSH 2020

IN20-101 Strategies Related to Business Success of Small and Medium Enterprises in District of Huahin Prachuapkhirikhan Province

Presenter: Nattawat Phaophoo
Bangkokthonburi University, Thailand

Abstract

           This research aimed to study strategic platforms, success levels, and the relationship between strategies and business success of Small and Medium Enterprises in the district of Huahin Prachuapkhirikhan Province in order to propose proper and effective strategies for entrepreneurs. The samples were 190 business owners or management teams whose firms were located in the district of Huahin Prachuapkhirikhan Province. Data were analyzed using frequency, percentage, mean, standard deviation, independent t-test, Pearson correlation coefficient, and chi-square statistic. The results revealed that most firms were SMEs with over 50 employees and had been operated for over five years. The respondent’s opinions towards the overall strategic platforms were at a high level, while those on the improvement of goods and services were at the highest level. Moreover, the level of their business success with the internal business process was rated high, whereas the ability to leverage technology to its fullest was at the highest. For the business growth aspect, most respondents agreed that their performance was better and gained more customers. Hypothesis testing indicated that there were significant differences in firm size and types at the level of 0.05. Besides, all of the strategies, including overall aspect, differentiation strategy, improving products and service strategy, cost leadership, relationships with customer strategy, and innovation strategy, were correlated with internal business success as the significance of 0.01. The chi-square test indicated that all strategies were related to business performance and customer increase at the significance of 0.05, except for the improvement of goods and services strategy. It is also suggested that the improvement of products and services and the customer relationship should be adopted in business operation.

 

Keywords: General information about the business; Strategic business model; Success of business

Citation format:

Phaophoo, N., Nuitoom, W., & Thakonkiattawat, C.. (2020). Strategies Related to Business Success of Small and Medium Enterprises in District of Huahin Prachuapkhirikhan Province. Proceeding in RSU International Research Conference, May 1, 2020. Pathum Thani, Thailand.

QUESTIONS & ANSWERS

สุมามาลย์ ปานคำ (Participant)

Study strategic platforms, success levels, and the relationship between strategies and business success of Small and Medium Enterprises in the district of Huahin Prachuapkhirikhan Province.  We want to know the limitations of this research and can apply it to practical applications.

Nattawat Phaophoo (Presenter)

Thank you for question

1. The objective of this research was to study strategic platforms, success level and relationship between strategies and business success of Small and Medium Enterprises in the district of Huahin Prachuapkhirikhan province

2. The limitation for the establishment that will implement the strategy successfully depends on the ability of each business to implement the strategy or not.

Nattawat Phaophoo (Presenter)

Thank you for question

1. The objective of this research was to study strategic platforms, success level and relationship between strategies and business success of Small and Medium Enterprises in the district of Huahin Prachuapkhirikhan province

2. The limitation for the establishment that will implement the strategy successfully depends on the ability of each business to implement the strategy or not.