THE INFLUENCES OF BUSINESS ENVIRONMENT, BUSINESS STRATEGIES AND BUSINESS INNOVATION ON THE BUSINESS PERFORMANCE OF ELDERLY SERVICE IN THAILAND
Elderly care service businesses are in high demand due to various reasons. The primary reasonis that families of elderly members often lack the time or knowledge to provide adequate care. Additionally, the prevalence of chronic diseases among the elderly has made them more dependent and in need of care, both at home and in care facilities. This research aims to 1) Study the level of the business environment, business strategy, business innovation, and performance of elderly services business in Thailand, 2) Study the influence of the business environment business strategy, and business innovation that affects the performance of the elderly service business in Thailand 3 ) create a model to increase the performance of the elderly service business in Thailand. This research uses a combination of methods between quantitative and qualitative research. In quantitative research, the sample consisted of 360 elderly care service entrepreneurs. The sample was determined by using the 20 times the observation variable criterion. A multi-stage random sampling method was used to collect data using a questionnaire. Data were analyzed by structural equation modeling, and the qualitative research method is the in-depth interview. The main informants were 17 experts or experienced elderly care providers. The research results found that 1) business environment, business strategy, business innovation, and the performance of the elderly services business in Thailand are at a high level. 2) business environment, business strategy, and business innovation affect the performance of the elderly service business in Thailand. Furthermore, 3) a model to increase the performance of the elderly care service business in Thailand. The researcher developed the BP-ESIA model (BP: Business Performance, E: Environment Business, S : Strategic Business, I : Innovation Business, A: Adding the Value Enhancement).In addition, the qualitative research results also found that entrepreneurs should use management innovations and new technologies to build customer loyalty in Thailand service businesses,. Medical and health that meet customers’ needs use digital marketing strategies to promote information to effectively reach consumers of the service establishment to create a competitive advantage with competitors. The results of this research can be applied as a guideline for setting up corporate policies to support entrepreneurs providing sustainable elderly care services in Thailand.
Age Society, Business Performance, Business Strategy, Business Innovation.