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This research aims to study the structural relationships of core values and operation process affecting performance of industrial business in Kamphaeng Phet Province. The research sample consisted of 364 industrial factories in Kamphaeng Phet provice. The employed research instrument was a questionnaire. The collected data were analyzed with the use of descriptive statistics and partial least square (PLS) technique to investigate the structural equation model. The results reveal that the core value is at the high level, while the operation process and the business performanc are at the moderate level. In addition, the core value has direct and indirect effects on the business performance by passing through the operation process. Moreover the operation process has a direct effect on the business performance. The analysis of structural equation model shows that the operation process has the greatest effect on business performance (0.63) while the core value has a high effect on the operation process (0.60) and has a little effect on the business performance (0.56), all of which are at the 0.01 statistical significance level.
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