The Development of Business Intellectual Competency for Modern Thai SMEs Towards Business Performance in Thailand 4.0 Era
Article Sidebar
Main Article Content
Abstract
The objectives of this research were to 1) Study the roles, concepts, and experiences of modern entrepreneurs in business intellectual competency that affect entrepreneurs in the Thailand 4.0 era. 2) Study practical work based on the successful experiences of the entrepreneurs' development model in the category of manufacturing, service, wholesaling and retailing, and 3) Build in-depth guidelines towards business performance. The study was in the postmodernism uses qualitative method in explaining and analyzing the most benefits. Therefore, the purposive selection was determined the criteria for considering the main data, totaling 14 key informants. The research tool was a document analysis. In-depth interviews by using the phenomenological approach was a successful guideline and lesson in the business management of key informants expressed by the narrative approach.
The results show that business intellectual competency built into business owners of all ages. It consists of the following priorities: 1) Innovative competence. 2) Potential change leaders, team building, and freedom to think and operate. 3) Effective network construction with negotiation skills. 4) Creative risk management and 5) Ethical proactive business potential In which the business intellectual competency of modern Thai SMEs affects the success of the organization innovation management. Creative marketing effectiveness and business results, besides, the aspects of 1) A strong commitment to the business, and 2) Social characteristics in business operations have an impact on the business intellectual performance. The practical experience in the study found guidelines to prepare the model for the development of the business intellectual competency of modern Thai SMEs through creating organizational culture strategies. Continuous action to achieve the goal and business owners who have to start developing themselves in the role model.
The guidelines for the development of modern Thai SMEs are beneficial for academic and management towards Thailand 4.0 under the principles of C-O-G-N-I-T-I-V-E. They mean C-Courageous change into new things, O-Optimistic at things around positively, G-Good Governed on transparent ethics, N-Noticeable think for business, I-Innovative difference, T-Technology-Driven for modern technology, T-Initiative leader of thoughtfulness, V-Visual concrete foresight, and E-Enthusiastic sharing.
Article Details
Article Screening Policy
- All research and academic articles to be published must be considered and screened by three peer reviews in the relevant field / article.
- All articles, texts, illustrations and tables published in the journal are the personal opinions of the authors. Editors don't always have to agree. And no responsibility whatsoever is the sole responsibility of the author.
- The articles to be published must never be published. Where did you first publish? And not in the consideration of other journals If the audit found that there has been a duplicate publication It is the sole responsibility of the author.
- Any article that the reader sees as being plagiarized or impersonated without reference. Or mislead the work of the author Please let the journal editor know it will be your greatest blessing.
References
Baden-Fuller, C., & Haefliger, S. (2013). Business models and technological innovation.
Long range planning, 46(6), 419 - 426.
Brigham, K. H., De Castro, J. O., & Shepherd, D. A. (2007). A Person-Organization Fit Model of Owner-Managers' Cognitive Style and Organizational Demands. Entrepreneurship Theory and Practice, 31(1), 29 - 51.
Checa, P., & Fernández-Berrocal, P. (2015). The role of intelligence quotient and emotional intelligence in cognitive control processes. Frontiers in psychology, 6, 1853.
Frese, M., Van Gelderen, M., & Ombach, M. (2000). How to plan as a small scale business owner: Psychological process characteristics of action strategies and success.
Journal of small business management, 38(2), 1 - 18.
Guldenmund, F. W. (2000). The nature of safety culture: a review of theory and research. Safety science, 34(1-3), 215 - 257.
Leeuwis, C., & Aarts, N. (2011). Rethinking communication in innovation processes:
creating space for change in complex systems. Journal of agricultural education and extension, 17(1), 21-36.
McLeod, R. H. (2018). Indonesia’s crisis and future prospects. In Asian contagion
(pp. 209 - 240): Routledge.
Newth, J. (2016). Social enterprise innovation in context: Stakeholder influence through contestation. Entrepreneurship Research Journal, 6(4), 369 - 399.
Ng, A. C., & Rezaee, Z. (2015). Business sustainability performance and cost of equity capital. Journal of Corporate Finance, 34, 128 - 149.
Ogiela, L., & Ogiela, M. R. (2015). Management information systems. In Ubiquitous Computing Application and Wireless Sensor (pp. 449 - 456): Springer.
Pettersson, N. (2018). Systems and methods for optimizing production of packaging products. In: Google Patents.
Piaget, J. (1936). The origin of intelligence in children. In. New York, NY: International Universities Press.
Phungphol, W. (2018). Business Cognitive Ability of New Generation Entrepreneur for Thai Smes Towards Business Performance in Thailand 4.0 (Doctorial Dissertation
Silpakorn University, Bangkok.
Phungphol, W. & Jadesadalug. (2018). New Entrepreneurial Characteristics Affecting Business Performance Through the Competitive Advantage of The Start-up Business.
dusit thani college Journal, 12(2), 303 - 318. (in Thai)
Phungphol, W. & Sangruksa, N. (2018). Decode Startup Business Entrepreneurial Management in Thailand 4.0. dusit thani college Journal, 12(3), 329 - 348. (in Thai)
Phungphol, W., Tumad, S., Sangnin, K., & Pooripakdee, S. (2018). Creating Passion for Preparedness of Automotive Industry Entrepreneurs for Industry 4.0 Era in the Southern Part of Thailand. International Journal of Business and Economic Affairs (IJBEA), 3(1), 1-12. doi:10.24088/IJBEA-2018-31001
Pugh, M. (2014). Why millennials should become entrepreneurs now. In: Entrepreneur.
Sanders, P. (1982). Phenomenology: A new way of viewing organizational research.
Academy of management review, 7(3), 353 - 360.
Sharma, V., & Franks, D. M. (2013). In-situ adaptation to climatic change: Mineral industry responses to extreme flooding events in Queensland, Australia. Soc Nat Resour, 26(11), 1252 - 1267.
Spiegelberg, E. (2012). The phenomenological movement: A historical introduction (Vol. 5): Springer Science & Business Media.
Sundstrom, E., De Meuse, K. P., & Futrell, D. (1990). Work teams: Applications and effectiveness. American psychologist, 45(2), 120.
Xie, K., Wu, Y., Xiao, J., & Hu, Q. (2016). Value co-creation between firms and customers:
The role of big data-based cooperative assets. Information & Management,
53(8), 1034 -1048.
Wilai Phungphol, Ph.D. (Management Science) Silpakorn University,
Learning Design Instructor at Suansunanta Rajabhat University, Healthcare Services Instructor-BSI at Thammasat University
Social Interaction Instructor at School of Entrepreneurship and Management Faculty, Bangkok University.
Assistant Professor, Viroj Jadesadalug, Ph.D., Director of Ph.D. Program in School of Management Science, Organisation Behavior lecturer at Silpakorn University.
Assistant Professor, Jantana Sansook, Ph.D., Leadership and
Quantitative Research lecturer at Rajamangala University of Technology Suvanabhumi.