Business Management Capabilities of Micro Entrepreneurs in Bangkok and Its Vicinity Affecting the Achievement of Financial Goals
Article Sidebar
Main Article Content
Abstract
The objectives of this research were to study 1) business management capabilities of micro-entrepreneurs in Bangkok and its vicinity, 2) the achievement of financial goals of micro-entrepreneurs in Bangkok and its vicinity, and 3) the factors of business management capabilities affecting the achievement of financial goals of micro-entrepreneurs in Bangkok and its vicinity. This study employed a quantitative research method. Questionnaires were used to collect data from 387 micro-entrepreneurs in Bangkok and its vicinity. The data were analyzed by using statistics including frequency, percentage, mean, standard deviation, and regression.
The results revealed that: 1) The overall business management capabilities of micro-entrepreneurs in Bangkok and its vicinity were at a good level. When considering to sub-dimensions, they had good capabilities in managing internal operations, customers, and the offers, respectively. However, their capabilities in managing financial structure were at a moderate level. 2) The overall achievement of financial goals among micro-entrepreneurs in Bangkok and its vicinity was at a moderate level. When considering to sub-dimensions, the achievement of financial goals in terms of revenue, financial liquidity, and net profit was also at a moderate level, respectively. 3) The factors of business management capabilities affecting the achievement of financial goals for micro-entrepreneurs in Bangkok and its vicinity indicated that the offers, financial structure, and internal operations significantly affected the achievement of financial goals, ranked in descending order of impact, at a statistical significance level of .05.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Views and opinions expressed in the articles published by The Journal of MCU Peace Studies, are of responsibility by such authors but not the editors and do not necessarily reflect those of the editors.
References
American Express. (2024). 2014 Global Customer Service Barometer. Retrieved December 27, 2024, from https://www.salesfix.com.au/wp-content/uploads/2015/05/globalcustomer servicebarometer.pdf
Bailetti, T., Tanev, S., & Keen, C. (2020). What Makes Value Propositions Distinct and Valuable to New Companies Committed to Scale Rapidly? Technology Innovation Management Review, 10(6), 14-27.
Becker, M., & Brocker, J. (2021). Business Model Canvas - Overview of the Main Advantages and Disadvantages. IUCF Working Paper, No. 6/2021, ZBW - Leibniz Information Centre for Economics, Kiel, Hamburg.
Bilal, A. R., Khan, A. A., & Akoorie, M. E. (2016). Constraints to Growth: A Cross Analysis of Chinese, Indian and Pakistani SMEs. Chinese Management Studies, 10(2), 365-386.
Boonchom, S. (2017). Principles of Research. (10th Ed.). Bangkok: Surivitayasarn.
Chartered Management Institute. (2015). Growing Your Business. London: Chartered Management Institute, September.
Cronbach, L. J. (1951). Coefficient Alpha and the Internal Structure of Tests. Psychometrika, 16(3), 297-334.
Daowd, A. et al. (2020). The Impact of Social Media on the Performance of Microfinance Institutions in Developing Countries: A Quantitative Approach. Information Technology and People, 34(1), 25-49.
German Federal Ministry of Economic Affairs and Energy. (2014). German Mittelstand: Motor der Deutschen Wirtschaft, German Federal Ministry of Economic Affairs and Energy, Berlin.
Nguyen, B., & Canh, N. P. (2021), Formal and Informal Financing Decisions of Small Businesses. Small Business Economics, 57, 1545-1567.
Huseynova, L. (2024). Challenges and Opportunities in the Development of Micro, Small, and Medium-sized Enterprises (MSMEs) in Central and West Asia. Problems and Perspectives in Management, 22(2), 527-538.
Kaplan, R. S. (2012). The Balanced Scorecard: Comments on Balanced Scorecard Commentaries. Journal of Accounting and Organizational Chang, 8(4), 539–545.
Kaur, P., Malhotra, K., & Sharma, K. K. (2020). Moderation-Mediation Framework Connecting Internal Branding, Affective Commitment, Employee Engagement and Job Satisfaction: An Empirical Study of BPO Employees in Indian Context. Asia-Pacific Journal of Business Administration, 12(3/4), 327-348.
Kenny, G. (2023). The Dangers of Becoming to Dependent on a Single Customer. Retrieved January 2, 2025, from https://hbsp.harvard.edu/product/H07VGC-PDF-ENG
Kulkalyuenyong, P., Joseph, M., & Treesorn, M. (2022). Guidelines for Organizational Development after the Pandemic of Coronavirus Disease 2019. Journal of MCU Peace Studies, 10(3), 898-909.
Likert, R. (1932). A Technique for The Measurement of Attitudes. (R. Woodworth, Ed.) Archives of Psychology, 140, 5-55.
Office of Small and Medium Enterprises Promotion. (2023). Business Structures of MSME (Micro, Small, and Medium Enterprises). Retrieved December 27, 2024, from https://www.smebigdata.com/msme/dashboard-b?g=7
Office of Small and Medium Enterprises Promotion. (2024). Ministerial Regulation on the Definition of Small and Medium Enterprises (SMEs), B.E. 2019, and the Announcement on the Definition of Micro Enterprises. Retrieved December 27, 2024, from https://www.sme.go.th/mod_download/download-20201118145003.pdf
Olawale, F. (2014). The Causes of the Failure of New Business and Medium Enterprises in South Africa. Mediterranean Journal of Social Science, 20, 922-927.
Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. New Jersey: John Wiley & Sons.
Pallant, J. (2020). SPSS Survival Manual: A Step-by-step Guide to Data Analysis Using IBM SPSS. (7th Ed.). London: Routledge.
Reason, B., Lovlie, L., & Flu, M. B. (2016). Service Design for Business: A Practical Guide to Optimizing the Customer Experience. New Jersey: John Wiley & Sons.
Soaga, H. (2012). Basics of Cash Management for Financial Management and Reporting. Retrieved January 15, 2025, from https://papers.ssrn.com/sol3/papers
Swinyard, W. R., & Smith, S. M. (2003). Why People (Don’t) shop Online: A Lifestyle Study of the Internet Consumer. Psychology and Marketing, 20(7), 567-597.
Yamane, T. (1973). Statistics: An Introductory Analysis. (3rd Ed.). New York: Harper and Row Publications.
Thailand Development Research Institute. (2019). The Ranking of SME Credibility Using Non-Financial Data under the Framework of Developing an Action Plan to Promote Small and Medium Enterprises (SMEs). Retrieved December 25, 2024, from https://tdri.or.th/wp-content/uploads/2021/02/2019_09.pdf
The Organisation for Economic Co-operation and Development (OECD). (2023). OECD SME and Entrepreneurship outlook 2023. OECD Publishing. Retrieved December 25, 2024, from https://www.oecd.org/en/publications/oecd-sme-and-entrepreneurship-outlook-2023_342b8564-en.html
Vakulenko, Y., Shams, P., Hellstrom, D., & Hjort, K. (2019). Service Innovation in E-commerce Last Mile Delivery: Mapping the E-customer Journey. Journal of Business Research, 101, 461-468.
Zhang, Z., Shivendu, S., & Wang, P. (2021), Is Investment in Data Analytics Always Profitable? The Case of Third-Party-Online-Promotion Marketplace. Production and Operations Management, 30(7), 2321-2337.
