The Business Value Creation Model of Drinking Water Entrepreneurs

Abstract

This research aims to 1) to study the level of business value creation by entrepreneurs in the drinking water industry, marketing strategies, internal knowledge management, customer relationship management, and business environment.  2)  to study the causal relationships among marketing strategy, internal knowledge management, customer relationship management, and the business environment that affects business value creation. 3) To present a business value creation model for entrepreneurs in the drinking water industry This research is a combination of quantitative and qualitative research. The quantitative research consisted of 400 samples of drinking water consumers in Bangkok. The size of the sample was determined using the 20-fold rule of random observation variables. The stratified sample group was used to collect data using a questionnaire. The data were analyzed by a structural equation model. For the qualitative research, collecting data by in-depth interviews consisted of drinking water inspection experts, drinking water quality assessment experts, executives, entrepreneurs, or those who have expertise in drinking water production, not less than 5 years for both public and private sectors.

The results showed that 1) Business value creation in drinking water industry enterprises, marketing strategies, internal knowledge management, customer relationship management, and the business environment are all at a high level. 2) The electronic market has the most causal influence on the business value creation of drinking water industry operators, followed by the knowledge management business environment and customer management, respectively, and 3)The business value creation model of drinking water industry operators is visualized in a chart, consisting of the most influential electronic market as the bottom driving base, the business environment, knowledge management in the middle, and customer management promoted at the top level too.  In addition, creating business value for the drinking water industry requires entrepreneurs to consist of finance, stakeholder relations, resources, and operations. The research results are useful to the Food and Drug Administration, Ministry of Public Health, Ministry of Resources and Environment, and Office of Consumer Protection in formulating strategic policies to encourage drinking water entrepreneurs to add business value to benefit consumers.