Relationship between the Competitive Advantage Strategies of Entrepreneurship and the Business Success in Small and Medium-Sized Enterprises in Ratchaburi Province
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Abstract
This research aimed to study 1) the level of business success in Small and Medium Enterprises (SMEs) in Ratchaburi province, and 2) the relationship between the competitive advantage strategies of entrepreneurship and business success in Small and Medium Enterprises in Ratchaburi province. This research employs a quantitative approach, utilizing a questionnaire. The research population is 36,022 SME entrepreneurs in Ratchaburi province. Given the known population, Yamane’s formula is applied. The research sample consisted of 396 SME entrepreneurs. The sampling techniques included cluster sampling and purposive sampling. The descriptive statistics included the mean and standard deviation. Furthermore, the inferential statistics included multiple regression analysis. Research findings were 1) the overall business success in Small and Medium Enterprises in Ratchaburi province is at a high level. When it comes to an individual component, quality comes first, followed by innovation, financial resources, social responsibility, physical resources, human resources, market position, cost efficiency, and profitability, respectively, and 2) the competitive advantage strategies of entrepreneurship included differentiation strategy, cost leadership strategy, quick response, and market focus strategy relates to the business success in Small and Medium Enterprises in Ratchaburi province with statistical significance at the 0.05 level.
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References
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