SMALL AND MEDIUM ENTERPRISES' PERFORMANCE FROM A THAI STYLE MANAGEMENT PERSPECTIVE

Abstract

This research aims to investigate the factors related to Thai style management and their effects on the operational performance of medium-sized and small enterprises in Thailand. It examines the operational results of medium-sized and small enterprise owners, representing a nationwide sample group. It compares the factors associated with Thai style management that influence the business performance of the studied enterprises to develop a causal relationship model. The study identifies the most influential variables affecting business performance, which can be applied to the management of the studied enterprises. The research employs Confirmatory Factor Analysis (CFA) and constructs a model using the MIMIC Model through AMOS software. The research population comprises registered corporate medium-sized and small enterprise owners in Thailand, totaling 3,178,141 individuals. Data is collected from a sample group of business owners drawn from the population, utilizing Yamane's formula for sample size calculation, resulting in a sample size of 402. The study finds that Thai style management factors affecting the business performance of medium-sized and small enterprises include Thai cultural foundations, the influence of Chinese management, the influence of Western management, and the sufficiency economy philosophy.