Guidelines for the Development of Small and Medium-Sized Enterprises in the Trade Sector within the Eastern Economic Corridor under the Transformation of the Digital Economy Era
คำสำคัญ:
Structural Equation Model, Small and Medium-sized Enterprises (SMEs), Trade Sectorบทคัดย่อ
SMEs in the trade sector create works, occupations, and income. It’s the key part to stimulate the country which are facing operational challenges due to the transition into digital era. This effects a decline in the number of entrepreneurs. This research aims to identify guidelines for the development of SMEs in the trade sector to be able to operate its business during the ongoing changes.
This research is quantitative research by collecting survey data from entrepreneurs operating SMEs in the trade sector. The research instrument is a questionnaire using Multivariate statistical techniques for the Second-order Confirmatory Factor Analysis (S-CFA) and followed by a Structural Equation Model (SEM).
The developed structural equation model demonstrated a good fit with the empirical data, with p-value = 0.149, CMIN/DF = 1.109, GFI = 0.964, and RMSEA = 0.015, all statistically significant at the 0.001 level, meeting the established criteria. Regarding the analysis of variables within the newly developed model, the overall influence analysis revealed that: Change leader had the strongest direct influence on organization management = 0.77. Organization management had a direct influence on personal potential = 0.67. Change leader directly influenced Product Innovation = 0.64. Personal potential had a direct influence on customer experience = 0.54. Product innovation had a direct influence on customer experience = 0.36. Change leader had a direct influence on personal potential = 0.25. Personal potential had a direct influence on product innovation = 0.22, respectively.
This research can be used to formulate strategic guidelines for the trade sector as well as other business sectors to adapt to the changes in the digital era. The strategies mentioned in this study are important factors that help organizations to remain competitive and sustain their presence in the market.
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