SUCCESS OF ENTREPRENEURS OF SMALL AND MEDIUM-SIZED FOOD ENTERPRISES IN THE FOOD INDUSTRY GROUP
Creating the success for the entrepreneurs of small and medium-sized food enterprises in the food industry represents a means to promote their sustainable economic growth. It also serves as a way to distribute income to the communities and the basic economy. However, recently the competition in the food industry has been very intense in the market. Besides, the ways which the entrepreneurs utilize to operate their business are unable to meet the changing needs of customers and consumers. Entrepreneurs also lack proper marketing strategies to enhance their competitiveness. The objectives of this research were to: 1) study levels of leadership, human resource management, 7Ps marketing strategies, dynamic competitiveness, and success of the entrepreneurs in small and medium food enterprises in the food industry; 2) examine influences of leadership, human resource management, 7Ps marketing strategies, dynamic competitiveness on the success of the entrepreneurs of small and medium-sized food enterprises in the food industry; and 3) develop a model for the success of the entrepreneurs in the small and medium-sized food enterprises in the food industry. This research employed a mixed research methodology combining quantitative and qualitative methods. For the quantitative research part, the research sample consisted of 440 entrepreneurs of small and medium-sized food enterprises in the food industry. The sample size was determined based on the criterion of 20 times the observed variables. They were selected via multi-stage sampling. Data were analyzed with a structural equation model. As for the qualitative research component, in-depth interviews were conducted with 20 key informants consisting of executives and experts in food products in the small and medium-sized food enterprises in Thailand. The findings showed that: 1) leadership, human resource management, 7Ps marketing strategies, dynamic competitiveness, and success of the entrepreneurs of small and medium-sized food enterprises in the food industry were rated at a high level; 2)leadership, human resource management,7Ps marketing strategies, dynamic competitiveness had an influence on the success of the entrepreneurs of small and medium-sized enterprises in the food industry, with a .05 level of statistical significance; and 3) the model for the success of the entrepreneurs of small and medium-sized enterprises in the food industry, developed by the researcher, was called the LSCMSE Model, consisting of L (referring to leadership), S (referring to 7 Ps marketing strategies), C (referring to dynamic competitiveness), M (referring to human resource management), and S (referring to success of the entrepreneurs of small and medium-sized food enterprises). In addition, the qualitative research results also revealed that in order to achieve the success, the entrepreneurs should create novelty through new food styles which can attract and satisfy the customers and lead them to make repeat purchase with loyalty. The results of this research can be applied as a guideline in formulating business policies for the entrepreneurs of small and medium-sized enterprises in the food industry of Thailand so that they can achieve sustainable success.
Success of Food Entrepreneurs/ Small and Medium Enterprises/ Food Industry