THE CAUSAL FACTOR MODEL OF ADAPTIVE CAPABILITY, BUSINESS PERFORMANCE, AND THE SURVIVAL OF SMALL BUSINESS ENTREPRENEURS IN THE COVID-19 SITUATION
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Published:
Aug 3, 2021
Keywords:
Adaptive Capability, Business Performance, Business Survival, Small Business
Main Article Content
Abstract
The objective of this research was to develop a causal factor model between adaptive capability, business performance, and the survival of small business entrepreneurs in the COVID-19 situation. The sample was 251 small business entrepreneurs. Data were collected using questionnaires. The statistics used were frequency, percentage, mean, standard deviation, confirmatory factor analysis, and testing of causal relationships with structural equation modeling. The research results showed that the model was consistent with empirical model. It was also found that adaptive capability has a direct effect on the business performance and the survival of the business. Business performance has a direct effect on the survival of a business. As for the adaptive capability (proactive behavior, reactive behavior, and tolerant behavior) has no direct effect on the survival of the business. But it was found that the adaptive capability indirectly influences the survival of small businesses through business performance
Article Details
How to Cite
Putsom, W. . . (2021). THE CAUSAL FACTOR MODEL OF ADAPTIVE CAPABILITY, BUSINESS PERFORMANCE, AND THE SURVIVAL OF SMALL BUSINESS ENTREPRENEURS IN THE COVID-19 SITUATION. Dusit Thani College Journal, 15(2), 129–144. Retrieved from https://so01.tci-thaijo.org/index.php/journaldtc/article/view/249338
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Research Article
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Bai, C., & Sarkis, J. (2013). A grey-based DEMATEL model for evaluating business process management critical success factors. International Journal of Production Economics, 146(1), 281-292.
Bartik, A. W., Bertrand, M., Cullen, Z., Glaeser, E. L., Luca, M., & Stanton, C. (2020). The impact of COVID-19 on small business outcomes and expectations. Proceedings of the National Academy of Sciences, 117(30), 17656-17666.
Cho, E., & Kim, S. (2015). Cronbach’s coefficient alpha: Well-known but poorly understood. Organizational Research Methods, 18(2), 207-230.
Chryssochoidis, G., Dousios, D., & Tzokas, N. (2016). Small firm adaptive capability, competitive strategy, and performance outcomes: Competing mediation vs. moderation perspectives. Strategic Change, 25(4), 441-466.
Dewi, R. S. (2019). The Role of Adaptive Ability in Firm Performance: Moderating Effect of Firm Size and Age. Asian Economic and Financial Review, 9(7), 807-823.
Hair, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106–121.
Ifekwem, N., & Adedamola, O. (2016). Survival strategies and sustainability of small and medium enterprises in the Oshodi-Isolo local government area of Lagos state. Acta Universitatis Sapientiae, Economics and Business, 4(1), 103-118.
Jeerakaisothorn, S. (2017). Survival of Small Restaurant. (Online). Available : http://www.me-abstract.ru.ac.th/AbstractPdf/2560-4-1_1594548726.pdf
Jundt, D. K., Shoss, M. K., & Huang, J. L. (2015). Individual adaptive performance in organizations: A review. Journal of Organizational Behavior, 36(S1), S53-S71.
Kaehler, C., Busatto, F., Becker, G. V., Hansen, P. B., & Santos, J. L. S. (2014). Relationship between adaptive capability and strategic orientation: An empirical study in a Brazilian company. iBusiness. 6, 1-9.
Kittipeerachon, S. (2017). Antecedents of Employees Adaptability in Automotive Industry. (Doctoral dissertation, Burapha University).
Kline, R. B. (2016). Principles and practice of structural equation modeling. New York: The Guilford Press.
Muak Lek Subdistrict Municipality Office. (2020). List of registered small entrepreneurs in Muak Lek Municipality Saraburi Province. (Mimeographed).
Ngea-ngam, C. (2016). An Adjustment guideline to survive of motel. (Online). Available : http://digital_collect.lib.buu.ac.th/dcms/files/56720078.pdf
Park, Y., Lim, D. H., Kim, W., & Kang, H. (2020). Organizational Support and Adaptive Performance: The Revolving Structural Relationships between Job Crafting, Work Engagement, and Adaptive Performance. Sustainability, 12(12), 1-14.
Ployhart, R. E., & Bliese, P. D. (2006). Individual adaptability (I-ADAPT) theory: Conceptualizing the antecedents, consequences, and measurement of individual differences in adaptability. In Understanding adaptability: A prerequisite for effective performance within complex environments. Emerald Group Publishing Limited.
Rovinelli, R. & Hambleton, R. (1977). On the use of content specialists in the assessment of criterion-referenced test item validity. Dutch Journal of Education Research, 2, 49–60.
Sarkis, J., Shaw, S., Grant, D. B., & Mangan, J. (2010). Developing environmental supply chain performance measures. Benchmarking: An International Journal, 17(3), 320-339.
Shin, K., Park, G., Choi, J. Y., & Choy, M. (2017). Factors affecting the survival of SMEs: A study of biotechnology firms in South Korea. Sustainability, 9(1), 108-126.
Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533.
Thongsri, P. (2020). The Adaption of Traditional Retail Shop in Bangplama District Suphanburi Province. Dusit Thani College Journal, 14(3), 447-460.
Tungnarumit, S. (2015). Factors Related to the Success of Small and Medium Enterprises in Prachuap Khiri Khan Province. (Online). Available : http://ithesis-ir.su.ac.th/ dspace/ bitstream/123456789/174/1/%2053.57602419%20%20. Pdf