Strategic management of the coffee processing business towards sustainable growth
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"The coffee processing industry is a significant sector in Thailand's economy. This study aimed to examine the strategic management practices within the coffee processing business to promote sustainable growth, employing a structural equation model alongside a mixed-methods approach. The qualitative phase involved validating the model through in-depth interviews with nine experts and a focus group comprising 11 successful business professionals. For the quantitative phase, data were collected from 500 manufacturing enterprises using a questionnaire, followed by descriptive statistics, inferential analysis, and multivariate techniques. Findings revealed that strategic management for sustainable growth in the coffee processing business encompassed four key dimensions of importance: 1) Product (mean = 4.49), focusing on taste management; 2) Business Competition (mean = 4.49), emphasising promotion via social media; 3) Business Alliance (mean= 4.48), involving governmental tax incentives and funding; and 4) Innovation and Technology (mean = 4.44), relating to development that extends the shelf life of coffee products. Hypothesis testing indicated that businesses of comparable size attributed similar importance to these strategic management components. The structural equation model developed was found to satisfy evaluation criteria and aligned well with empirical data. The fit indices obtained were as follows: CMIN- p (chi-square probability) = 0.079, CMIN/DF (relative chisquare) = 1.143, GFI (goodness of fit index) = 0.960, and RM SEA (root mean square error of approximation) = 0.017." -- first page
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License.