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

Abstract

This study seeks to explore the factors associated with Thai style management and how they impact the operational performance of medium-sized and small enterprises in Thailand. It analyses the operational outcomes of owners of medium-sized and small enterprises, encompassing a diverse sample group from across the country. This study also examines the factors related to Thai style management that impact the business performance of the enterprises under investigation, aiming to establish a model that explains the causal relationship between these factors. The study highlights the key factors that have a significant impact on business performance, providing valuable insights for managing the enterprises under investigation. The study utilises confirmatory factor analysis (CFA) and develops a model using the MIMIC model with the assistance of AMOS software. The research population consists of 3,178,141 individuals who are registered owners of medium-sized and small enterprises in Thailand. Information is gathered from a selected group of business owners taken from the overall population. Yamane's formula is used to determine the appropriate sample size, which in this case is 402. The study reveals that various factors impact the business performance of medium-sized and small enterprises. These factors encompass Thai cultural foundations, the influence of Chinese management, the influence of Western management, and the sufficiency economy philosophy. This paper represents a pioneering study that examines the impact of Thai style management on the performance of medium-sized and small enterprises in Thailand. It is the first of its kind and provides valuable insights into this area of research.