Competitive Advantage Strategies of Small and Medium Enterprises (SMEs) in the Non-alcoholic Beverage Service Business in Bangkok Area
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This research aims to 1) study the influence of external factors on internal organizational factors, the selection of competitive advantage strategies, and the business performance of SMEs; 2) study the selection of competitive advantage strategies as a mechanism for transmitting the influence of internal and external factors to business performance; and 3) confirm the quantitative findings with the qualitative perspectives and experiences of entrepreneurs regarding the processes and contexts behind them. A mixed-methods research approach was used, beginning with quantitative research collection data from 200 individuals and analysis using PLS-SEM. This was followed by qualitative research through in-depth interviews with 5 information. The research findings revealed that: 1) external factors have direct and indirect positive influences on internal organizational factors, the selection of competitive advantage strategies, and the business performance of SMEs; 2) competitive advantage strategies are a crucial variable acting as a mechanism for transmitting the influence of internal and external factors to business performance; and 3) the quantitative relationship found with the qualitative perspectives and experiences of entrepreneurs confirmed that the underlying processes and contexts are intangible resources, particularly the entrepreneur's core competencies (Owner as Core Competency), namely knowledge, expertise, and passion. This can contribute to sustainable competitive advantage. Furthermore, observations highlight the application of a hybrid strategy, differing from the traditional concept of being stuck in the middle. Research findings lead to practical recommendations for entrepreneurs in developing strategies aligned with resources and the environment, and policy recommendations to promote the development of strategic skills and intangible assets for entrepreneurs.
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