Antecedents and Success of the Steel Industry Business in Thailand
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Abstract
This research aims to 1) Study the levels of entrepreneurial leadership, management innovation, organizational agility, dynamic potential, and the success of the steel industry business in Thailand. 2) Study the influence of entrepreneurial leadership, management innovation, organizational agility, and dynamic potential on the success of the steel industry business in Thailand. 3) Build a model for the success of the steel industry business in Thailand. This research employs a mixed-method approach, combining quantitative and qualitative research. In the quantitative research, the sample group consists of 400 entrepreneurs from companies in Thailand engaged in various types of steel industry businesses. The sample size was determined using a criterion of 20 times the number of observed variables, and a proportional sampling method was adopted. Data were collected using questionnaires and analyzed using structural equation modeling. For qualitative research, in-depth interviews were conducted with key informants, including 15 entrepreneurs running steel industry businesses in Thailand.
The research results show that 1) Entrepreneurial leadership, management innovation, organizational agility, dynamic potential, and the success of the steel industry business in Thailand are at a high level. 2) Entrepreneurial leadership, management innovation, organizational agility, and dynamic potential significantly influence Thailand's steel industry business's success at the 0.05 significant level. 3) The success model of the steel industry business in Thailand developed by the researcher is named the LIAD Strategy Model (L: Entrepreneur Leadership Development, I: Organization Innovation, A: Organization Agility, D: Dynamic Potential Organization). Additionally, the qualitative research results indicate that to succeed in Thailand's steel industry; entrepreneurs must have modern production technology, develop new steel products to international standards, and sell through online trading platforms to enhance the competitiveness and potential of the steel industry. The findings of this research can be applied as a guideline for policy-making in business operations to promote the sustainable success of the steel industry business in Thailand.
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References
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