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Research Journal of Business Management
  Year: 2014 | Volume: 8 | Issue: 2 | Page No.: 89-103
DOI: 10.3923/rjbm.2014.89.103
 
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Factors Affecting Business Performance: An Empirical Study in Thailand

Chavalit Nimlaor, Jirasek Trimetsoontorn and Wanno Fongsuwan

Abstract:
The Thai garment industry is presently undergoing dramatic and tumultuous change due to a multitude of factors including economic recession, regulatory changes, labor issues and global competition. It is hoped that this study will shed some light and suggest some solutions as to how industry entrepreneurs and government officials can join hands to solve a quickly deteriorating problem. Quantitative and Qualitative Research methods were employed with Quantitative Research being conducted by questionnaire to a group of 178 senior executives from the Thai Garment Manufacturer’s Association membership. Structural Equation Modeling analysis was utilized using Partial Least Square (PLS). Qualitative Research was conducted through the use of a survey given to 10 senior executives from firms within the Thai garments industry selected by Purposive Sampling. The results revealed that factors influencing business performance included higher customer response capacity in terms of customer wants and needs, cost and competitive advantages over other competitors. It is found that the empirical factors affecting the business outcome of Thai garments industry comprises the Firm’s Characteristics which includes organizational leaders and teamwork. Additionally, other key factors include a Firm’s Strategy which comprises product differentiation, R and D and brand building. The Firm’s Environment also plays a role which includes international trade, business alliances and government policy. Thus, it is recommended that entrepreneurs must create brand awareness through R and D, focus on how to optimize their international trade and enhance their networking as well as their global alliances.
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How to cite this article:

Chavalit Nimlaor, Jirasek Trimetsoontorn and Wanno Fongsuwan, 2014. Factors Affecting Business Performance: An Empirical Study in Thailand. Research Journal of Business Management, 8: 89-103.

DOI: 10.3923/rjbm.2014.89.103

URL: https://scialert.net/abstract/?doi=rjbm.2014.89.103

COMMENTS
27 April, 2015
Seyed Mohammad Mortazavi:
hi
I'm a MA management student that for my thesis work I set your article , if possible please send me your paper questionnaire
sincerely
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