LEVERAGING KNOWLEDGE SHARING AND CULTURE INNOVATION TO SMES SUSTAINABLE COMPETITIVE ADVANTAGE OF ELDERLY CARE BUSINESS IN THAILAND
The number of elderly people has been increasing consistently, leading to a rise in the new number of entrepreneurs who cater the needs of the elderly. Elderly people who are dependent on others for their care often face a shortage of geriatric medical personnel particularly caregivers, due to an increase in the number of elderly individuals and a shortage of qualified medical professionals. Consequently, the competitive advantage of elderly care business plays a crucial role in their growth and return on investment. This research aims to 1) examine the level of exploitation of knowledge sharing, innovation culture, SME operating strategy, and sustainable competitive advantage of the elderly care business in Thailand, 2) explore the influence of exploitation of knowledge sharing, innovation culture and SMEs operating strategy towards sustainable competitive advantage of the elderly care business in Thailand, and 3) develop the model of sustainable competitive advantage of the elderly care business in Thailand. The study employed a mixed research methodology that combined quantitative and qualitative approaches. For the quantitative aspect, the sample group 240 entrepreneurs involved in elderly care businesses Thailand. The sample size was calculated based on 20-time criteria of the observed variables through the multi-stage sampling. Data was collected using questionnaires and analyzed using structural equation modeling. For the qualitative aspect 20 primary informants, who were elderly care business entrepreneurs and experts in Thailand. Were interviewed in-depth to gather information. The findings revealed that 1) exploitation of knowledge sharing, innovation culture, SMEs operating strategy, and sustainable competitive advantage of the elderly care business in Thailand were all at a high level, ; 2) exploitation of knowledge sharing, innovation culture, and SMEs operating strategy affected sustainable competitive advantage of the elderly care business in Thailand at a statistical significance level of .05, ; and 3) the model of sustainable competitive advantage of the elderly care business in Thailand as developed by the researcher was called IPO Model for Sustainable Competitive Advantage of Elderly Care Business in Thailand. Furthermore, the qualitative findings suggest that for an elderly care business to be successful in Thailand, entrepreneurs must prioritize quality, standards, and security. These research can serve as a blueprint for defining business policy that promote sustainable competitive advantage for the elderly care industry in Thailand.
Knowledge Sharing/Sustainable Competition/Elderly/Care Business/Thailand