Key Factors for Successful Entrepreneurship in Thailand

Michael Ha,Chutikarn Kiatnarong,Uthit Siriwan,Tassanee Thitikanlaya,Nutchuda Thitikalaya,Chotika Ramabut

doi:10.4236/jss.2014.29020

Michael Ha, Chutikarn Kiatnarong + Show 4 more

Open Access

https://doi.org/10.4236/jss.2014.29020

Copy DOI

Abstract

A causal relationship among key critical success factors of successful entrepreneurs in Thailand is proposed. A new business innovation management model is established using data sampling of 250 successful entrepreneurs from various industry sectors in Thailand. The data were analyzed by performing mean, standard deviation calculations, factor analysis and causal factors affected by LISREL program. Quantitative results showed that the model is consistent with empirical data.

Highlights

Starting a business alone is already an enormous challenge that every entrepreneur must face
Research Hypothesis testing was as follows: 1) The variables which directly have the causal affected the success of entrepreneurs in Thailand are the demographic data of the entrepreneurs, including position and number of staffs, the characteristics and type of the business respectively
2) The variables which directly have the causal affected the success of entrepreneurs in Thailand, are the factors which are time, role in the organization and work values respectively

Summary

Introduction

Starting a business alone is already an enormous challenge that every entrepreneur must face. The small and medium entrepreneurs should consider major four factors affected the entrepreneurs’ success consisted of (1) overall of the entrepreneurs’ business, (2) the entrepreneurs’ health and brain, (3) the entrepreneurs’ investment, profit and stability and (4) the entrepreneurs’ reputation, image and branding. These four aspects of success are strongly and unavoidable supported by the key three factors. 2) The variables which directly have the causal affected the success of entrepreneurs in Thailand, are the factors which are time, role in the organization and work values respectively Research Hypothesis testing was as follows: 1) The variables which directly have the causal affected the success of entrepreneurs in Thailand are the demographic data of the entrepreneurs, including position and number of staffs, the characteristics and type of the business respectively. 2) The variables which directly have the causal affected the success of entrepreneurs in Thailand, are the factors which are time, role in the organization and work values respectively

Research Methodology

Discussions

Recommendations