Strategies for Building a Knowledge-Based Economy for Community Enterprises in the Eastern Economic Development Zone
DOI:
https://doi.org/10.57260/rcmrj.2022.261618Keywords:
Knowledge-based economy, Eastern economic development zon, New product developmentAbstract
This research aims to study the strategies for creating a knowledge-based economy for community enterprises in the Eastern Economic Development Zone. The study has been designed as a mixed method by developing the analysis of structural equation model through qualitative data and the quantitative data were derived from the survey of 300 community enterprises in the Eastern Economic Development Zone. They’re used descriptive statistics, inferential statistics, and multivariate statistics. The research instrument was a questionnaire and analyze data with Structural Equation Modeling: SEM. The data analysis program AMOS stipulates a multi-stage sampling method. It consists of group sampling procedures (Cluster-sampling) separating the populations into 3 areas. Then they’re used simple random sampling to obtain the required number of samples according to the desired proportion.
The finding consists of three components that are important to the strategy for building a knowledge-based economy at a high level according to the Likert scale: namely, management components, new product development, and marketing. To assess the coherence of the structural equation model, the strategies for creating a knowledge-based economy for community enterprises in the Eastern Economic Development Zone passed the model's evaluation criteria which are consistent with the empirical data. In accordance with the Modification Indices, it was found that the root index of the square mean of the Chi-Square Probability Level was 0.109 while the relative Chi-square was 1.316. The Goodness of Fit Index was 0.973 and the Root Mean Square Error of Approximation was 0.033. It was found the components of Management have highest direct influence on New Product Development components (DE= 1.11) followed by New Product Development components, which have direct influence on Marketing (DE= 0.57) and Management components have direct influence on Marketing (DE= 0.42)
From this study, it is learned about the strategies for creating a knowledge-based economy for community enterprises in the Eastern Economic Development Zone. To increase potential of the Grassroots Economy, to provide income, to reduce inequality, and brings community enterprise to be sustainably.
References
Abed, M. T. (2021). Knowledge-based economy and its role in activating iraqi business indicators: a theoretical and analytical study. PalArch's Journal of Archaeology of Egypt/Egyptology, 18(1), 4161-4183. https://archives.palarch.nl/index.php/jae/article/view/6370
Anusonphat, N., & Poompurk, C. (2022). New normal ways for the survival and adaptation of community enterprise after covid-19 crisis of thailand. Journal of MCU Nakhondhat, 9(1), 1-19. https://so03.tci-thaijo.org/index.php/JMND/article/view/258165 (In Thai)
Arbuckle, J. L. (2012). IBM SPSS Amos 21. Chicago, IL: Amos Development Corporation.
Arromba, I. F., Martin, P. S., Ordoñez, R. C., Anholon, R., Rampasso, I. S., Santa-Eulalia, L. A., ... & Quelhas, O. L. G. (2020). Industry 4.0 in the product development process: benefits, difficulties and its impact in marketing strategies and operations. Journal of Business & Industrial Marketing , (36)3, 522-534. https://doi.org/10.1108/JBIM-01-2020-0014
Cavite, H. J. M., Kerdsriserm, C., &
Suwanmaneepong, S. (2021). Strategic guidelines for community enterprise development: a case in rural Thailand. Journal of Enterprising Communities: People and Places in the Global Economy. DOI:10.1108/JEC-05-2021-0062
Chuayraksa w. (2017). Approach to develop community enterprise: a case study of indigo-dyed cotton weaving group of baan tham tao in sakonnakorn province. (Business Administration graduate school Burapha University). (In Thai)
Comrey, A. L., & Lee, H. B. (1992). Interpretation and application of factor analytic results. Comrey AL, Lee HB. A first course in factor analysis, 2, 1992.
Dehghani, S., M., Mohammadi, E., Hemmati, A., &
Raufi, M. (2020). An Examination of the Impact of Customer Relationship Management on Marketing Performance by Clarifying Mediating Role of Innovation and Marketing Memory. Commercial Strategies, 16(13), 59-78. https://doi.org/10.22070/cs.2020.2425
Diaz, A., Schöggl, J. P., Reyes, T., & Baumgartner, R. J. (2021). Sustainable product development in a circular economy: Implications for products, actors, decision-making support and lifecycle information management. Sustainable Production and Consumption, 26, 1031-1045. https://doi.org/10.1016/j.spc.2020.12.044
Grewal, D., Hulland, J., Kopalle, P. K., & Karahanna, E. (2019). The future of technology and marketing: a multidisciplinary perspective. Journal of the Academy of Marketing Science, 48, 1–8. http://dx.doi.org/10.1007/s11747-019-00711-4
Grodgangunt, S., Saisaka, M., Songmuang, J.,
Piasinthu, J., & Adulyasas, A. (2021). Development of Potential in Value-Added Marketing Strategy Management and Application for Durian Agro-Community Enterprise in Deep South Provinces. ABAC Journal, 41(3), 174-191. http://www.assumptionjournal.au.edu/index.php/abacjournal/article/view/5224
Hanna, M., Schwenke, J., & Krause, D. (2020). Inconsistency Management for Product Families with many Variants through a Model-Based Approach in Modular Lightweight Design. In Proceedings of the Design Society: DESIGN Conference (Vol. 1, pp. 917-926). Cambridge University Press.
Helm, R., Krinner, S., & Endres, H. (2020). Exploring the role of product development capability for transforming marketing intelligence into firm performance. Journal of Business-to-Business Marketing, 27(1), 19-40. http://dx.doi.org/10.1080/1051712X.2020.1713562
Kalogiannidis, S. (2021). The Impact of COVID-19 on Human Resource Management Practices and Future Marketing. International Journal of Industrial Marketing, 6(1), 43-55. http://dx.doi.org/10.5296/ijim.v6i1.17994
Li, S. (2021). How does COVID-19 speed the digital transformation of business processes and customer experiences. Review of Business, 41(1), 1-14. https://pesquisa.bvsalud.org/global-literature-on-novel-coronavirus-2019-ncov/resource/pt/covidwho-1089480
Office of SMEs Promotion. (2021) Community Enterprise drive the Grassroots Economy. Retrived from https://www.bangkokbanksme.com/en/community-otop (In Thai)
Pannatekave, A. (2021). Development local product of the Small and Micro Community enterprise in Thailand. International Journal of Development Administration Research, 4(2), 7-13. https://so02.tci-thaijo.org/index.php/ijdar/article/view/253332 (In Thai)
Romprasert, S., & Trivedi, A. (2021). Sustainable economy on community enterprise and digital marketing. ABAC Journal, 41(1), 62-80. http://www.assumptionjournal.au.edu/index.php/abacjournal/article/view/4195
Saura, J. R. (2020). Using Data Sciences in Digital Marketing: Framework, methods, and performance metrics. Journal of Innovation & Knowledge, 6(2), 92-102. https://doi.org/10.1016/j.jik.2020.08.001
Staple, G. A. (2013). The efficacy of strategic human resource development on followership. (Doctoral dissertation, University of Phoenix).
Supachariyawat, A. (2022). Guidelines for the development of community products for export Case study Thai silk Product of Baan Suksamranin Sa Kaeo Province, Journal of Arts and Service Industry, 5(1), 429-444. https://so01.tci-thaijo.org/index.php/JLASI/article/view/252253 (In Thai)
Wahyuni, P., & Lestari, P. N. E. (2020). Application of Web-Based Customer Relationship Management in Marketing Information System: PT. BPR Bali Dananiaga. International Research Journal of Management, IT and Social Sciences, 7(4), 43-47. https://doi.org/10.21744/irjmis.v7n4.947
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Rajabhat Chiang Mai Research Journal
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
1. Articles, information, content, images, etc published in the “Community and Social Development Journal” are copyrighted by the Community and Social Development Journal, Chiang Mai Rajabhat University. In order to properly distribute the articles through print and electronic media, the authors still hold the copyright for the published articles under the Creative Commons Attribution (CC BY) license, which allows the re-distribution of the articles in other sources. References must be made to the articles in the journal. The authors are responsible for requesting permission to reproduce copyrighted content from other sources.
2. The content of the articles appearing in the journal is the direct responsibility of the article authors. The editorial board of the journal does not necessarily agree with or share any responsibility.
