Influential Factors on Business Operation Sustainability of Entrepreneurs: A Case Study of the Lower Northeastern Area of Thailand

Influential Factors on Business Operation Sustainability of Entrepreneurs: A Case Study of the Lower Northeastern Area of Thailand

Adisak Suvittawat
Copyright: © 2022 |Pages: 17
DOI: 10.4018/IJABIM.300349
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Abstract

The purpose of his study is to determine the factors that influence the sustainability of entrepreneurial business operations in the Lower Northeastern Area of Thailand, across varies industries. We followed the marketing mix (5P) model exploring product perspective, price perspective, distribution channel, promotion perspective and people perspective and their influence on entrepreneurial business operations sustainability. There was a strong emphasize on the quality and quantity of products provided as well as uniqueness of the products and services developed by the entrepreneurs. Price was less important as long as it was competitive. Location was the most important factor when it came to distribution channel especially for service businesses. Online businesses were slowly developing. Customers preferred brick and mortar family businesses with knowledgeable and friendly entrepreneurs who are service oriented. People make the difference in the sustainability of entrepreneurial operations.
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Influential Factors On Business Operations Sustainability Of Entrepreneurs: A Case Study Of The Lower Northeastern Area Of Thailand

Entrepreneurs come in all forms, shapes, and colors. Their businesses vary as much as they do. Our study, therefore, did not look at specific industries but at entrepreneurs from all industries and venues. We wanted to know what makes entrepreneurial operations tick and makes them sustainable. This is an important point for all entrepreneurs as they not only want to start a business but they want to see it grow and sustain over years and generations to come. What are the factors behind that phenomenon that make a successful entrepreneurial venture? As we started to look at the many factors and surveyed the entrepreneurs accordingly. To find out what is most important for them when it comes to their business operations. The lower northeastern part of Thailand which includes the provinces of Buriram, Nakorn Ratchasima, and Surin is a good petri dish for entrepreneurs as they move from agriculture to trade and industry. There has been a broad variety of entrepreneurial activities ranging from starting coffee shops, to home-stay hospitality and tourism to the manufacturing of pottery and innovative agricultural products like banana flowers. The principal investigator (PI) Suvittawat (2020a) looked at hospitality industry economic innovation out of traditional small-medium-size enterprises in North-Eastern Thailand. Suvittawat (2020b) also explored the logistics service innovation for business growth: A case study of logistics service entrepreneurs. Suvittawat (2020c) researched the marketing communication and their influence on the perception towards Banana flour purchasing decisions. Banana flour is a new marketed by local entrepreneurs. Suvittawat (2019) looked at the role of entrepreneurs in the Thai pottery industry and the economic innovation created by entrepreneurs. This particular study determines the factors that influence the sustainability of entrepreneurial business operations. We tried to find the relationship and impact of factors that influence entrepreneurial business operations sustainability, especially the influence of the marketing mix (5P) perspective on the entrepreneurial business operations.

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