Development of Business Strategies of Community Enterprise Entrepreneurs : A Case Study on Herbal Product Business in Lower Central Region 1

Authors

  • Wanichyada Wajirum
  • Kanyamon Inwang Western University of Thailand

Keywords:

Keywords, development, business strategy, herbal products, the community enterprises

Abstract

Abstract

 

This study aimed to study feature of  business operation, method of development of business strategy, success of  business of  community enterprise entrepreneur group in case study on herbal product business in lower Central Region 1. This study is qualitative research conducting data collection by in-depth interview with key informants from Herbal product entrepreneur group of herbal beverage, spa, herbal medicine and processed food, using random sampling of 50% of lower Central Region 1, and then select the herbal product community enterprise entrepreneurs which were awarded last year from those 4 provinces, in which 80 persons were selected, 2) Group of commercial academicians or specialists in herbal product business 14 persons of which were selected, and then conduct data content analysis. The results indicated that various business activities were incorporated to the community enterprise. The study also revealed that the business strategies designed by the community enterprises differed greatly depending on the type of herb business. To clarify, while spa business pursued the growth strategy, herbal medicine business adopted the product development strategy and the processed food business focused on product identity enhancement. Five approaches to business development by the community enterprise entrepreneurs were identified as follows. 1) Enhancing management knowledge , technical and production skills among the entrepreneurs and employee 2) Improving the product and packaging 3) Developing the business, enhancing knowledge and strengthening connection among the members 4) Providing constant staff training and awareness in environment management  5) Raising self-reliance habits as well as conserving local wisdoms and resources.

 

Keywords: development, business strategy, herbal products, the community enterprises

 

References

References

Aulet, W., & Murray, F. (2013). A tale of two entrepreneurs: Understanding differences in the types of entrepreneurship in the economy. Retrieved July 3, 2017 from http://dx.doi.org/10.2139/ssrn.2259740.

Baumol, W. (1990). Entrepreneurship: Productive, Unproductive, and Destructive. The Journal of Political Economy, 98 (5), 893-921.

Birnbaum, G.E. (2007). Attcahment orientations, sexual functioning, and rela-tionship satisfaction in a community sample of women. Journal of Social and Personal Relationships, 24, 21-35.

Chotika Chantaravong. (2014). The Maketing strategy of Spa Baan Din Company. Master of Business Administration Ramkhamhaeng University.

Department of Industry Promotion. (2015). The project of developing products and packing to market that according to demand in year 2015. Bangkok: The project of industrial promotion.

Drucker. (2005). Management Challenges for the 21th Century. New York: Harper.

Drucker, P. F. (2001). Management challenges for the 21th Century. New York: Harper Be sine.

Drucker, P. F.. (1977). Managing in a Time of Great Change. New York, NY: Truman Talley/Dutton.

Frese M. (2000). Success and Failure of Micro Business Owners in Africa: a Psychological Approach. U.S.A.: Greenwood Publishing Group.

Higgins, James M.,Vincze & Julian W.. (1993). Strategic Management. (Fifth Edition). USA : The Dryden Press.

Higgins & J. M.. (2005). The eight ‘S’s of successful strategy execution. Journal of Change Management, 5 (1), 3-13.

Hofstrand, D. (2007). Elasticity of demand. IOWA Statc University, USA. Retrieved September 14, 2016 from https://www.extension.iastate.edu/agdm/wholefarm/pdf/c5-207.pdf.

Kaplan & Norton. (1992). “The balanced scorecard - Measures that drive performance”. Harvard Business Review. (January-February), 71-79.

Kaplan & Norton. (1996). "Using the balanced scorecard as a strategic management system”. Harvard Business Review, 74 (1), 75-85.

Kanyamon Inwang. (2011). The mode of network of tourism businesses that apply to sufficiency economy. Bangkok: National Research Council of Thailand.

Kanyamon Inwang & Supoj Inwang. (2012). The sufficiency economy of Thai village in Phitsanulok. Retrieved January 15, 2016 from http://www.bloggang.com.

Kanyamon Inwang, Udom S, Chattavut P. & Thida J. (2017). An academic leadership developmental model by knowledge management of executives from private

Universities. Journal of Business Administration Association of Private Higher Education Institutions of Thailand Under The Pratronge of Her Royal Highness Princess Maha Chakri Sirinddhon, 6 (1), 114-129.

Kasamaporn Poungprayong. (2013). The Approch for Developing of Small and Micro of Community to Processing and Product in Samut Songkhram. Silpakorn Educational Research Journal, 5 (1), 1-13.

Kitkorn Dowpiset. (2011). The form of Development system for service business that apply to sufficiency economy, Case study of integrated tourism business network. Bangkok: National Research Council of Thailand.

Lichtenstein, G.A., & Lyons, T.S. (2010). Investing in entrepreneurs: A strategic approach for strengthening your regional and community economy. Santa Barbara, CA: Praeger/ABCCLIO.

Lingle, J. & Schieman, W. (1994), Is data scatter subverting your strategy, Management Review, 83 (5), 53-56.

Office of the Secretary of the Board of Community Enterprise. (2010). Intensive of Potential Small and Micro of Community. Retrieved January 15, 2017 from http://www.sceb.doae.go.th.

Pibool Waijittragum. (2016). The Design Approach for Halal Products in Thailand. Naresuan University Journal, 7 (1), 95.

Porter, M. E.. (1990). The Competitive Advantage of Nations. Boston. Massachusetts: Free Press.

Porter. (2003). Thailand's Competitiveness: Creating the Foundations for the Higher Productivity. Institute for Strategy and Competitiveness. Harvard Business School. Boston.

Prapaporn Saengthong. (2010). The mode of developing market of community products: case study of enterprise of weaven in KoYo Muengg, district Songkhla. Skru Academic Journal, 3 (1), 1 – 6.

Praparpan Rakliang, Kanyamon Inwang & Supoj Inwang. (2010). The mode for developing of handicraft product from flok wisdom in Phitsanulok. Retrieved August 3, 2016 From http://www.110.164.58.178/kmv/8/.

Rachjarin Pornchaiwisetkul & associates. (2003). The study of entrepreneur’s characteristics that successful. Bangkok: Chulalongkorn University.

Robbins & DeCenzo. (2004). Certo. (2003). Retrieved December 18, 2016 from http://www.gotoknow.org/posts/447935.

Seri Phongphit, Wichit Nantasuwan & Chamnong Rackphinit. (2001). Commuity enterprise: modle scheme of bill modle. Bangkok: Phumpunyathai.

Supang Chantavanich. (1997). The method of qualitative research. Institute of Asian Studies Chulalongkorn University.

Supoj Inwang. (2015). The Approch for Developing of Small and Micro of Community. Bangkok: Mean Service Supply Limited.

Supoj Inwang & Kanyamon Inwang. (2015). The Relationship Between Emotional Intelligence and job performance of Local Government Officials. Western University Research Journal of Humanities and Social Science, 1 (1), 81-89.

Surachai Pattarabanjird. (2011). The management of Financial Liquidity for SMEs under The global economic crisis. The research of Bussiness Administration Siam University.

The National Bureau of Agricultural Commodity & Food Standards. (2016). Thai Traditional Medicine make 22 herbs to enter the medicine. Retrieved December 10, 2016 from http://goo.gl/oxXFZQ.

Wheelen Tomas L., Hunger & J. D. (2008). Strategic Management Business policy 11th edn. New Jersey: Pearson international edition.

Downloads

Published

2018-07-25