Factor Analysis of Competitive Advantage of Small and Medium Enterprises in Songkhla
Keywords:
Competitive Advantage, Private Businesses, Factor AnalysisAbstract
This research aimed to study the confirmatory factor analysis of competitive advantage of private businesses and to examine the consistency of the relationship model developed with an empirical data.The sample consisted of 396 entrepreneurs with the purposive sampling method. Data collected by questionnaires and statistical program used to analyze the data. The results found that the model analysis of the second confirmatory factor of the competitive advantage of private businesses of four components such as innovation, quality, customer responsiveness, and efficiency included goodness of fit with the empirical data X2 = 280.714, df = 145, X2/df = 1.936, p-value = 0.053, GFI = 0.932, CFI = 0.967, RMR = 0.046, and RMSEA = 0.049. The competitive advantage of private businesses on four components were found from the high to low value as innovationat 0.99, quality at 0.93, customer responsiveness at 0.91, and efficiency at 0.77, respectively. Therefore, entrepreneurs should focus on the development of operational capabilities within the organization, to increase the competitive advantage to keep pace with the changing economic conditions at present.
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