Structural Equation Model of The Operational Success of Food Industry Entrepreneurs, The Federation of Thai Industries
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Abstract
This research aimed to: 1) study the level of variables affecting the operational success of food industry entrepreneurs, the Federation of Thai Industries; 2) develop and verify the structural equation model of the operational success of food industry entrepreneurs, the Federation of Thai Industries, with empirical data; and 3) analyze the direct effect of factors affecting the operational success of food industry entrepreneurs, the Federation of Thai Industries. The population consisted of entrepreneurs in the food industry group who work in lower, middle, and top management positions. The sample group was 330 entrepreneurs in the food industry group, obtained by selecting a sample without using the principle of probability. The sampling used the method of purposive random selection. The research tools were questionnaires. Statistics used in the research included mean, percentage, standard deviation, skewness, kurtosis, Pearson correlation coefficient, confirmatory analysis, and path analysis.
It was found that 1) the level of variables affecting the operational success of food industry entrepreneurs, the Federation of Thai Industries, has an average between 4.12 and 4.28, arranged from highest to lowest average as follows: business innovation, competitive advantage, entrepreneur characteristics, and operational success. 2) Develop and verify the structural equation model of the operational success of food industry entrepreneurs, the Federation of Thai Industries, with empirical data finding that df = 122, 2-test (p) = 0.861,
2/df = 0.862, GFI = 0.969, AGFI = 0.947, CFI = 1.000, NFI = 0.967, RMSEA = 0.000, RMR =0.020, Hoelter = 505, R2 =.27, and 3) In the direct effect of factors affecting the operational success of food industry entrepreneurs, the Federation of Thai Industries found that entrepreneur characteristic has a positive direct effect on competitive advantage =.550, competitive advantage has a positive direct effect on operational success =.521, entrepreneur characteristic has a positive direct effect on business innovation =.263, and business innovation has a positive direct effect on competitive advantage =.235, respectively. The knowledge and findings from this research reveal the variables that are of statistical significance that together directly and indirectly influence the operational success of food industry entrepreneurs, according to the Federation of Thai Industries, and the research results can be used as guidelines for business operations.
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