Deployment of Business Model Innovation and Digital Capability to Enhance Business Opportunities for Elderly Informal Workers in Ang Thong Province
Keywords:
Business Model Innovation, Digital Capability, Competitiveness, Elderly Informal WorkersAbstract
The aims of this research were to: (1) study the elements of business model innovation and digital capability in order to improve business opportunities for elderly informal workers in Ang Thong province, (2) analyze the effects of business model innovation and digital capability on the expansion of business opportunities of elderly informal workers in Ang Thong province, and (3) evaluate the model’s congruence with the empirical data. This research implemented a quantitative research methodology using the questionnaire as a research instrument and collecting data from elderly informal workers, who participated in the community enterprise groups in Ang Thong province. A total of 360 samples were incorporated in the research. The data collection was conducted using a purposive sampling technique. The acquired data were subsequently analyzed using statistical structural models to examine the findings.
The findings of the study indicated that the model aligned with the observed data, as revealed by the statistical values of CMIN/df = 4.16, CFI = 0.96, NFI = 0.95, RFI = 0.93, TLI = 0.95, and RMSEA = 0.09. The digital capability had a significant impact on the business model innovation and competitiveness. The key components of business model innovation and digital capability were the ability to identify new opportunities digitally and the development of strong relationships with business partners, respectively. To create a business model appropriate for elderly informal workers in Ang Thong province, it is necessary to focus on fostering positive relationships with business partners, developing new methods for generating business income, and fostering positive relationships with client, etc.
Therefore, elderly informal workers who participate in community enterprise groups in Ang Thong province should pay close attention to the digital capability development because it is a factor that contributes to the essentials of business model innovation and can lead to improved competitiveness. This will enhance the business opportunities for the informal working group in Ang Thong province, leading to stability and sustainability in operation.
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