WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 20, 2023
Development of Small and Medium Enterprises to Large Enterprises to Support the Thailand 4.0 Policies
Authors: , ,
Abstract: The number of small and medium enterprises has continuously increased annually, but growth into large enterprises was very small, so it affected the competitiveness of the industrial business quite a lot, and the decision to choose a group of small and medium enterprises to move into large business sectors is therefore very important to the growth of industrial businesses. Therefore, this research aims to study the development of small and medium enterprises to large enterprises to support the Thailand 4.0 policies. Conducted qualitative research with in-depth interviews of 9 experts to create tools used in quantitative research and conducted focused group discussions of 11 specialist persons to find a consensus to certify the model of this research. For quantitative research using a survey data method from 500 prominent industrial business executives in the manufacturing and service sectors with questionnaires, this research used descriptive statistics, Reference Statistics, and Multiple Statistics was used for data analysis. The results showed that the development of small and medium enterprises to large enterprises to support the Thailand 4.0 policies through 5 priorities components are as follows: 1) Information system components $$(\bar{X} = 4.66)$$, the most important in each item is reviewing and updating information to be up to date at all times. 2) Innovation components $$(\bar{X} = 4.65)$$, the most important in each item is to register a patent or intellectual property rights of the innovations that the organization invents. 3) Human resources components $$(\bar{X} = 4.63)$$, the most important in each item is setting standards for selecting personnel suitable for the responsibilities of personnel in each job position. 4) Operation components $$(\bar{X} = 4.60)$$, the most critical item has a system to check every process step that is correct and fast. and 5) Marketing components $$(\bar{X} = 4.58)$$, the essential items are creating online and offline distribution channels to reach customers quickest. For hypothesis testing results, the development of small and medium enterprises up to large enterprises, when classified by type of business, there is no statistically significant difference at level 0.05. The results of the analysis of the developed structural equation model showed that it passed the evaluation criteria and was consistent with the empirical data, with a chi-square probability level value of 0.072, relative chi-square of 1.114, conformity index of 0.948, and root mean square index of the error estimation of 0.015.
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Pages: 2089-2098
DOI: 10.37394/23207.2023.20.182