A STUDY OF MANAGERIAL COMPETENCY COMPONENTS FOR YOUNG HOSPITALITY ENTREPRENEURS IN THE WORLD HERITAGE CITY OF LUANG PRABANG, LAO PDR

Abstract

The objectives of this research were 1) To study managerial competency components for young hospitality entrepreneurs in Luang Prabang World Heritage City, 2) To synthesize essential managerial competency components for young hospitality entrepreneurs in Luang Prabang World Heritage City, and 3) To analyze managerial competency components for young hospitality entrepreneurs in Luang Prabang World Heritage City, Lao People's Democratic Republic. This documentary research consisted of two phases: 1) Synthesizing components from relevant documents and research including academic journals, theses, research reports, books, and related documents, and 2) Validating components by five experts comprising hospitality business management specialists, representatives from entrepreneur associations, and researchers. The research instrument was a 5-point rating scale questionnaire that passed content validity verification. Data were analyzed using mean and standard deviation with a frequency criterion of 60 percent or higher. The findings revealed five competency components, ranked by appropriateness mean scores: 1) Government collaboration ( = 5.00) in regulatory compliance and access to business support, 2) Leadership ( = 4.85) including vision, change management, and digital technology, 3) Financial management ( = 4.80) covering planning, fundraising, and risk management, 4) Hospitality entrepreneurship ( = 4.70) comprising marketing development, product and service development, and 5) Human resource management ( = 4.67) including workforce planning, recruitment, performance evaluation, compensation management, and effective organizational culture building. These identified components can be applied to develop training courses, establish policies, and create sustainable cooperation in hospitality business development.