Factors Affecting the Competitive Advantage of Thai Entrepreneurs in Adapting to Survive During the Epidemic Crisis of Coronavirus Disease 2019
DOI:
https://doi.org/10.57260/csdj.2024.267230Keywords:
Entrepreneurial characteristics, Competitive pressure, Competitive advantagesAbstract
The study aims to identify characteristics of Thai entrepreneurs affecting the competitive advantage of Thai entrepreneurs in adapting to survive during the epidemic crisis of coronavirus disease 2019.Factors determine the competitive advantage of Thai entrepreneurs in adapting to survive during the epidemic crisis of coronavirus disease 2019 and guidelines for gaining competitive advantage of Thai entrepreneurs in adapting to survive during the epidemic crisis of coronavirus disease 2019. The researcher used a quantitative method from a sample group of 384 business owners in Bangkok, Thailand. The sample group is a company located in Bangkok. In essence, Bangkok is a strategic location and economic hub of Thailand that is good for a supportive business environment and economic advantages, making researchers specific in this area. Questionnaires were used to collect data. The data was analyzed to explain the study, including frequency distribution, percentage, average deviation, and correlation testing, and was processed using the SPSS (Statistical Package for Social Science) statistical multiple regression analysis in formula (y = a+β1x1+β2x2+β3x3+β4x4+β5x5+ε) forecast statistics (R2). The results showed that 1) the characteristics of Thai entrepreneurs affecting the competitive advantage are autonomy, innovativeness, risk-taking, competitive aggressiveness, stability & learning, and achievement were high 2)the competitive pressure affects the competitive advantage of Thai entrepreneurs, which are pressure from existing competitors, pressure of substitute products and bargaining power of material suppliers determine Thai entrepreneurs affecting the competitive advantage of Thai entrepreneurs in adapting to survive during the epidemic crisis of coronavirus disease 2019. Meanwhile, pressure from new competitors and pressure from bargaining power will not help Thai entrepreneurs, affecting the competitive advantage of Thai entrepreneurs in adapting to survive during the epidemic crisis of coronavirus disease 2019. The characteristics of entrepreneurs and competitive pressure affect positive competitive advantage in cost, quality, innovation, and quick response, directly affecting Thai entrepreneurs' competitive advantage.
References
Boontumjarern, S., & Jarernsiripornkul, S. (2023). Scenario planning of srisothorn apartment in Muang Khon Kaen District, Khon Kaen Province. Journal of Modern Learning Development, 8(6), 103-118. Retrieved from https://so06.tci-thaijo.org/index.php/jomld/article/view/260669/177753
Brinca, P., Duarte, J. B., & Faria-e-Castro, M. (2021). Measuring labor supply and demand shocks during COVID-19. European Economic Review, 139, 103901. Retrieved from https://www.sciencedirect.com/science/article/pii/S0014292121002130
Chatriwisit, R.., Phujinda, S., Jinanurak, N., & Puangkrae, P. (2010). Strategic management. (3rd ed.). Bangkok: Inhouse Knowledge.
Chong, D., & Ali, H. (2022). Literature review: Competitive strategy, competitive advantages, and marketing performance on e-commerce shopee Indonesia. Dinasti International Journal of Digital Business Management, 3(2), 299-309. Retrieved from https://www.dinastipub.org/DIJDBM/article/view/1198
Desfiandi, A., Fionita, I., & Ali, H. (2017). Implementation of the information systems and the creative economy for the competitive advantages on tourism in the province of Lampung. International Journal of Economic Research, 14(2), 123-139. Retrieved from http://repo.darmajaya.ac.id/id/eprint/756
Doulani, A., Sahebi, S., & Saberi, M. K. (2020). Assessing the entrepreneurial orientation of the librarians: A case study of Iranian public libraries. Global Knowledge, Memory and Communication, 69(4/5), 253-268. Retrieved from https://doi.org/10.1108/GKMC-10-2019-0120
Freser, B., Sirec, K., Tominc, P., Freser, B., Sirec, K., & Tominc, P. (2020). High-growth companies: Origins, characteristics, growth determinants and performance. Financial Determinants of High-Growth Companies: A Conceptual Model, 1, 7-43. Retrieved from https://link.springer.com/chapter/10.1007/978-3-030-59350-6_2
Girish, V. G., Lee, J. Y., Lee, C. K., & Olya, H. (2022). Smart working in the travel agencies and employees’ quality of life. Tourism Review, 77(4), 989-1008.. Retrieved from https://doi.org/10.1108/TR-09-2021-0409
Hung, N. P., & Khoa, B. T. (2022). Examining the structural relationships of electronic word of mouth, attitude toward destination, travel intention, tourist satisfaction and loyalty: a meta-analysis. GeoJournal of Tourism and Geosites, 45(4), 1650-1660. Retrieved from https://doi. org/10.30892/gtg.454spl15-986
Inthanam, N. (2020). The effect of entrepreneurial orientation on business success of small and medium entreprises in Kalasin province. Journal of Accountancy and Management, 12(4), 82-95. Retrieved from https://so02.tci-thaijo.org/index.php/mbs/article/view/245494
Jangploy, W., & Jesadalak, W. (2016). Competitive advantage creation strategy in coffee shop business operations of small entrepreneurs in muang district, Ratchaburi province. Veridian E-Journal, Silpakorn University (Humanities, Social Sciences and arts), 9(3), 1331-1349. Retrieved from https://he02.tci-thaijo.org/index.php/Veridian-E-Journal/article/view/75679
Kaenchanda, K. (2022). Effects of entrepreneurial orientation and learning orientation on innovation capability and competitive advantage of companies listed in the stock exchange of Thailand. Stock Exchange of Thailand. Journal Panyapiwatt, 14(1), 71-85. Retrieved from https://so05.tci-thaijo.org/index.php/pimjournal/article/view/248206/173959
Nakkasem, W., & Pasunon, P. (2018). Factors affecting the competitive advantage of service business entrepreneurs in Bangkok. Veridian E-Journal, Silpakorn University, 11(1), 2148-2167. Retrieved from https://he02.tci-thaijo.org/index.php/Veridian-E-Journal/article/view/120933/9342
Patcharachotsuthi, P. (2018). Entrepreneurial business characteristics affecting modern service strategies and competitive advantages in tourism business. Veridian E-Journal, Silpakorn University (Humanities, Social Sciences and arts), 11(3), 1906-3431. Retrieved from https://he02.tci-thaijo.org/index.php/Veridian-E-Journal/article/view/154796/112565
Pathumma, C. (2010). Business strategy and marketing strategy for competitive advantage in business insurance: a case study of muang thai insurance public company limited. (Thesis, University of the Thai Chamber of Commerce).
Petchsiri, P., Suksrisawat, S., Luangsudjaichuun, S., Tevin, C., Rakkan, S., & Jesadalak, V. (2017). Models and strategies for creating competitive advantages of wholesale clothing business in Bobae Market, Bangkok. Veridian E-Journal, Silpakorn University (Humanities, Social Sciences and arts), 10(2), 517-530. Retrieved from https://he02.tci-thaijo.org/index.php/Veridian-E-Journal/article/view/97254
Piyadumrongkul, T. (2023). Business plan for sport services platform brand “PMATCH” . (Doctoral dissertation, Mahidol University).
Pliphat, T. (2020). Estimated the actual number of people worldwide sick with Covid-19 has suspassed 100 million people. Retrieved from https://d.dailynews.co.th/politics/798442
Phimonrattanakan, S., & Jesadalak, V. (2019). Factor affecting innovation management that result in marketing success and competitive advantage for agricultural operators that will lead to the organization performance. Journal of Humanities and Social Sciences Thonburi University, 13(3), 120-132. Retrieved from https://so03.tci-thaijo.org/index.php/trujournal/article/view/214071
Pongpaew, S., & Phakasat, N. (2016). Competitive ability model of OTOP entrepreneurs who are SMEs in Thailand. Veridian E-Journal, Silpakorn University (Humanities, Social Sciences and arts), 9(3 ), 1659-1675. Retrieved from https://he02.tci-thaijo.org/index.php/Veridian-E-Journal/article/view/90802
Porter, M, E., (1980). Competitive strategic technique for analyzing industrial and competitors. The Five Force. Free Press. New York.
Rakanita, A. M. (2019). Pemanfaatan E-Commerce Dalam Meningkatkan Daya Saing Umkm Di Desa Karangsari Kecamatan Karangtengah Kabupaten Demak. Journal EKBIS, 20(2), 1280-1289. Retrieved from https://core.ac.uk/download/pdf/294835762.pdf
Tansiri, P. (2023). Focus on entrepreneurial orientation, innovation capability, and risk taking affect to the competitive advantage through online channels in kluaynamthai innovation district. Apheit Journal, 29(1), 95-110. Retrieved from https://so06.tci-thaijo.org/index.php/apheit-ss/article/view/264359
Thanarungcharoenkit, P., Sosomsopin, S., Klumchana, T., Chaebua, W., & Jesadalak, V. (2017). Business operation strategies to create competitive advantage of business mr. ice cream shop, Nakhon Pathom Province. Veridian E-Journal, Silpakorn University (Humanities, Social Sciences and arts), 10(1), 1152-1167. Retrieved from https://he02.tci-thaijo.org/index.php/Veridian-E-Journal/article/view/88948
Thurathamnon, P., & Yodwisitsak, K. (2022). Factors of business attributes entrepreneurship and the creation of competitive advantages lead to the success of the bakery business. Srinakharinwirot Business Journal, 13(1), 16-31. Retrieved from https://ejournals.swu.ac.th/index.php/MBASBJ/article/view/13976
Wanitchbuncha,, K. (2006). Statistics for research. (2nd ed.). Bangkok: Chulalongkorn University Printing House.
Worapongpat, N. (2023). Integrated marketing for ecotourism image creation by Pa Ko Yo Community Chiang Mai Province: Integrated Marketing for Tourism Image CreationEco by Pa Ko Yo community Chiang Mai Province. The Journal Lanna Thai Wisdom, 17(1), 1-27. Retrieved from https://so06.tci-thaijo.org/index.php/khuangpaya/article/view/260920
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Community and Social Development 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.
