Guidelines for Organizational Development with Good Governance in Thailand’s Industrial Sectors
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Abstract
This article aimed to (1) examine the guidelines for organizational development with good governance in Thailand’s industrial sectors and (2) develop a structural equation model for organizational development through good governance in the industrial sector of Thailand. The research sample comprised 500 executives responsible for ethical practices in the Thai industrial sector. This study employed a quantitative research approach, utilizing questionnaires as the research tool and conducting statistical analysis, including structural equation modeling. The research model's compatibility with observed data was affirmed with a p-value of 0.055, CMIN/DF of 1.226, GFI of 0.970, and RMSEA of 0.021, meeting evaluation criteria.
The research results found that transparency components significantly influence the responsibility components, with the highest standardized regression weight at 0.69. The research demonstrates that transparency components exert the most significant direct influence on responsibility components. This underscores the importance of fostering transparency for industrial organizations to become effective leaders, guided by principles of ethical corporate governance. This is essential for efficient business operations and sustainable growth in the long run.
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