The Influence of Adaptive Strategies on the Business Performance of Food and Beverage Enterprises in Kamphaeng Phet Province Amid the COVID-19 Crisis
Keywords:
Exploratory Factor Analysis, Adaption Strategies, Food and Beverage BusinessAbstract
The objectives of this study were: (1) to analyze the components of adaptive strategies employed by food and beverage businesses in Kamphaeng Phet Province, and (2) to examine the adaptive strategies that influence business performance among food and beverage enterprises in Kamphaeng Phet Province amid the COVID-19 crisis. The sample consisted of 385 entrepreneurs operating food and beverage businesses in Kamphaeng Phet Province. A questionnaire was used as the research instrument. Statistical methods employed in the study included percentage, mean, standard deviation, exploratory factor analysis, and multiple regression analysis.
The findings revealed that most respondents were female, with an average age of 41.04 years. The majority had an education level below a bachelor’s degree and primarily operated businesses selling only food. On average, their businesses had been in operation for 8.14 years and employed approximately three workers. The analysis identified three key components of adaptive strategies: (1) Technological Adaptation Strategy, (2) Operational Adaptation Strategy, and (3) Marketing Adaptation Strategy. All three components of adaptive strategies were found to have a significant influence on the business performance of food and beverage enterprises in Kamphaeng Phet Province.
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