Competitive Advantages Affecting the Performance of the Silverware Business in Thailand
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Abstract
The silverware business is a unique business that creates competitive advantages through the use of unique craftsmanship, according to the Thai Industrial Development Master Plan 2012–2031. The research aimed to study the relationship, focusing on effectiveness, between competitive advantage and the performance of the silverware business in Thailand. This was a quantitative study. The population used in this study were silverware business operators registered as juristic persons with the Department of Business Development in the Ministry of Commerce of Thailand, a total of 585 businesses. From the estimate of 20 times the variable from the research model with parameter 12, the sample number is 240 businesses, and there were 210 complete responses, accounting for 87.5%. The instrument for collecting data was a questionnaire. The analysis of data was done through descriptive statistical analysis and inferential statistical analysis. The research results were found to be as follows: Factors of business competitive advantage include cost leadership, cash flow management, general differentiation, and marketing and innovation differentiation. They influenced the performance factors in the same direction and also found that the factors of business competitive advantage can best forecast the performance of employees, followed by the performance of customers, with social performance next in order.
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