Study of Business Strategies Affecting Business Performance of Small and Medium Enterprises (SMEs) Entrepreneurs: A Case of Food Processing Industry
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Abstract
This research is quantitative research aiming at studying the business strategies affecting business performance of entrepreneurs’ small and medium enterprise (SMEs) in terms of customers’ satisfaction and financial satisfaction in a food processing industry located in Bangkok and its vicinities. The samples in this research were of 350 entrepreneurs in a food processing industry located in Bangkok and its vicinities. The data was collected by using a survey questionnaire. Data analysis was based on descriptive statistics including frequency, percentage, mean and standard deviation and inferential statistics including stepwise multiple linear regression at the significance level of .05.
The result revealed that the entrepreneurs agreed on overall business strategies in the “high” level ( = 4.16), by agreeing on customer relationship strategy (
= 4.20), differentiation strategy (
= 4.18), network strategy (
= 4.12) and cost leadership (
= 4.12) in the “high” level. In the meantime, the entrepreneurs agreed on overall business performance in the “high” level (
= 4.10), by agreeing on customer satisfaction (
= 4.15) and finance satisfaction (
= 4.05) in the “high” level.
In addition, the hypotheses testing indicated that business strategies affecting business performance in terms of customer satisfaction can include 2 variables, namely customer relationship strategy (β = 0.411) and network strategy (β = 0.395). In addition, the business strategies affecting business performance in terms of financial satisfaction can include 3 variables, namely network strategy (β = 0.336), differentiation strategy (β = 0.316) and customer relationship strategy (β = 0.157) at the significant level as of .05.
Article Details
Academic articles, research articles, and book reviews in the Ph.D. in Social Sciences Journal are author’s opinions, and not the publisher’s, and is not the responsibility of the Ph.D. in Social Sciences Journal Philosophy Association, Ramkhamhaeng University. (In the case that research is done on human, the researcher has to be trained in Ethics for Doing Research on Human Training and has to produce the evidence of the training).
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