Confirmatory Factors Analysis of the Sustainability of Chemical Industry in Thailand

Abstract

Purpose: The aim of this study is to study and analyze the confirmatory factor of the model of factors influencing sustainability of chemical industry in Thailand and to examine the harmonization of the confirmatory factor of the model of factors influencing sustainability of chemical industry in Thailand Theoretical Framework: The study “Structural Equation Model of Factors Influencing Sustainability of Chemical Industry in Thailand”, the researcher has researched from related research and various online information. This is to be able to define a more comprehensive and clearer conceptual framework that will guide the study. These include theories and concepts of sustainability, change leadership, organizational culture, and corporate social responsibility. Design/Methodology/Approach: A total of 317 responses were collected from the chemical industry in Thailand using a multi-stage sampling technique while AMOS has been employed for data analysis to analyze variance and covariance by applying this technique to Confirmatory Factor Analysis (CFA) to check the harmony, accuracy, or consistency of the gauge construction. The confirmatory factor analysis of the model of factors influencing sustainability of chemical industry in Thailand consisted of Sustainability, Transformational Leadership, Organizational Culture, and Corporate Social Responsibility. It was found that the consistency with the empirical data Findings: The results of all factors: Transformational Leadership, Organizational Culture, and Corporate Social Responsibility. The organization uses these factors to formulate policies, strategic plans, and budget allocations in a holistic manner in order to achieve sustainable development and achieve results that are greater than the consideration of the actions of each section. Research, Practical & Social Implications: This study revealed that Sustainability is not a single factor. It is caused by all factors, including transformational leadership, organizational culture, and corporate social responsibility. The organization uses these factors to formulate policies, strategic plans, and budget allocations in a holistic manner in order to achieve sustainable development and achieve results that are greater than the consideration of the actions of each section. Originality/Value: This study contributes to the sustainability model of chemical industry in Thailand for further academic and professional development. The industry sectors can use research findings and recommendations to formulate an organizational strategy for further sustainability development. The government can use research findings and recommendations as a guideline for reviewing sustainability development for the industrial sector in Thailand.