Confirmatory Factor Analysis Applied to The Business Model of The Artisan Sector, Case of Tenango de Doria, Hidalgo, Mexico

Abstract

Purpose: The purpose of this study is to examine the applicability and effectiveness of the Canvas Model in the artisan sector, specifically focusing on microenterprises in Tenango de Doria, Hidalgo, Mexico. The goal is to understand how the various components of the Canvas Model influence the success of local handicrafts, identifying key factors for their development and sustainability. Theoretical Framework: The study is based on the theoretical foundations of the Canvas Model, which includes nine key elements crucial for business success. Recent literature highlights the need for tailored business strategies in artisan sectors, recognizing the unique challenges and opportunities they present. Design/Methodology/Approach: A cross-sectional and correlational quantitative research design is adopted. Surveys are conducted with 401 potential customers of "Tenango" handicrafts, followed by a confirmatory factor analysis to evaluate the nine key elements of the Canvas Model. Findings: The findings underscore the importance of 'sales', 'distribution channels', and 'innovation' in the Canvas Model within the artisan sector, while 'key partners' emerge as less significant. These findings suggest the need to adapt the Canvas Model to the artisanal context, focusing on effective sales and distribution strategies and strengthening the unique value proposition of the crafts. Research, Practical & Social Implications: This pioneering study provides a solid foundation for future research in the artisan sector and offers valuable insights for the development of business strategies. The findings have significant implications not only for the artisans of Tenango de Doria but also for other artisan contexts, potentially guiding the development and sustainability of micro-enterprises in various cultures and regions. Originality/Value: The study marks a novel approach by applying a quantitative analysis to assess the Canvas Model in the artisan sector, highlighting the complexities of formulating a successful business model in this field and contributing valuable perceptions for its development and sustainability.