MODEL CAUSAL RELATIONSHIP FACTORS AFFECTING THE SUCCESS RENOVATION AND DECORATED SECOND-HAND TOWNHOME BUSINESS IN THAILAND

Abstract

The objective of this research were 1) to study the causal factors that influence the success of second-hand townhome renovation and decoration businesses in Thailand  2) To analyze the factors that affect the success of the business of renovating and decorating second-hand townhouses in Thailand 3) To develop a causal relationship model of factors affecting the success of second-hand townhome renovation and decoration businesses in Thailand. This research employs a mixed-methods approach, combining qualitative and quantitative research. The study population consists of 28,894 registered businesses in Thailand involved in the renovation and decoration of second-hand townhouses, registered with the Department of Business Development, Ministry of Commerce. The sample group was determined according to Hare et al.'s rule of clarity, consisting of 400 entrepreneurs and experts. Quantitative research used questionnaires, while qualitative research used interviews. A purposive sampling method was used to select 15 key informants, namely experts and qualified persons. The statistical methods used were percentage, mean, standard deviation, and structural equation modeling analysis using LISREL software.

          Major Findings: (1) A causal relationship model of factors influencing the success    of the secondhand townhome renovation and decoration business in Thailand includes transformational leadership, innovation capability, adaptive marketing strategies, and business success. (2) Transformational leadership, innovative capabilities, and adaptive marketing strategies impact business success, and the structural equation modeling (SEM) model's fit index aligns well with empirical data, with values ​​of c²= 96.75, df = 82, c²/df = 1.78, P-value = 0.13, RMAEA =0.01, NFI = 1.00 CFI = 1.00, GFI = 0.99, AGFI = 0.98, SRMR = 0.01 and (3) A causal relationship model of factors influencing the success of the renovated and decorated second-hand townhome business in Thailand reveals interconnectedness with transformational leadership, innovative capability, adaptive marketing strategies, and business success.