Business Success for Sustainability Indicator Development of One Tambon One Product

Abstract

The objective of this research was to develop indicators and conduct a confirmatory factor analysis for successful sustainable business among OTOP product entrepreneurs, checking the agreement of the developed model with empirical data. The determination of the appropriate sample size for 1-5 star OTOP operators in 6 regions of Thailand was derived from a proportional stratified random sampling. It was determined that a sample group of 500 OTOP entrepreneurs would be suitable. A questionnaire was developed and used as a tool for data collection, while confirmatory factor analysis (CFA) and exploratory factor analysis (EFA) were carried out by computer program and AMOS. The results showed that there were 9 indicators and 45 sub-elements for sustainable business success in the context of OTOP products. These indicators were ranked in order of importance to be the environment, communication, products, personnel, innovation, processes, price, knowledge, and leadership, respectively. The model of indicators for sustainable business success among OTOP products was found to be in good agreement with the empirical data with the chi-square goodness of fit equal to 647.377, with degrees of freedom (df) = 637, p = 0.379, GFI = 0.95, CFI = 0.99, NFI = 0.96, TLI = 0.99, and RMSEA = 0.00.