Influence of market orientation, learning orientation, and innovativeness on operational performance of real estate business

Irada Phorncharoen

doi:10.1177/1847979020952672

Abstract

Small and medium-sized enterprises (SMEs) play important roles in driving domestic economy. The purpose of this research was to examine the causal relationship model among factors that influence on operational performance (OP) in real estate business (REB), Thailand. The 555 samples of REB entrepreneurs were randomly selected by the multi-stage sampling method. A questionnaire was employed as a research tool for collecting data and analyzed with the structural equation model (SEM). The generated model is fit (χ2/df = .835, p = .993, GFI = .960, AGFI = .945, CFI = 1.000, RMSEA = .000). Findings revealed statistically significant that market orientation (MO) has positively influenced on operational performance, innovativeness (IN) and learning orientation (LO) ( p < 0.001). Learning orientation has positively affected to innovativeness ( p < 0.05) but non-significant affected to operational performance ( p > 0.05). Lastly, innovativeness has positively influenced on operational performance ( p < 0.001). Additionally, learning orientation has mediated between market orientation and innovativeness. The antecedent factors (MO, IN and LO) have cooperatively explained the causal relationship model that influenced on operational performance at 62.80%. Therefore, entrepreneurs in REB are able to achieve strategically their operational performance by consideration and implementation in mainly of the activities related with market orientation and innovativeness.

Highlights

There are many findings around the world found the beneficially economic significance of the small and medium-sized enterprises (SMEs) in which a main force to drive domestic circumstances
Goodness of fit index (GFI) equaled .960 which was greater than .90.73,74 Adjusted goodness of fit index (AGFI) equaled .945 which was greater than .90.73,74 Comparative fit index (CFI) equaled 1.000 which was greater than .90.72 Root mean square error of approximation (RMSEA) equaled .000 which was less than .08.75–78 these results were indicated that the causal relationship model of factors that influenced on operational performance (OP) had been consistent with the empirical data, shown in Table 3 and Figure 2
This research has emphasized to the study and consistency verification of the causal relationship model that influences on operational performance of real estate business (REB) in Thailand

Summary

Introduction

There are many findings around the world found the beneficially economic significance of the small and medium-sized enterprises (SMEs) in which a main force to drive domestic circumstances. SMEs in European or other developed countries have powerfully driven economy of these countries and have played very important to employment and poverty problem alleviation.[1] SMEs are the units to create new jobs, employment, incomes, new concepts, and innovativeness for an organization of entrepreneurs.[2] In Thailand, the economic system mostly depends on exports of the secondary industries that they are in the strong infrastructures of whole industries, and the heart of them is SMEs. In addition, SMEs in Thailand has taken evolution and development based on the nation plans and the world economy trends. Social and economic issues have been rapidly changed with the intensive globalization. Thai SMEs need to be emphasized and developed by both governmental and non-governmental

Objectives

Methods

Results

Discussion

Conclusion