Analyzing factors influencing SME readiness for smart retail: A structural equation model approach
The objective of this study is to explore factors influencing the readiness to enter smart retail businesses. This paper employed a quantitative approach. The sample consisted of 323 retail entrepreneurs in Thailand. Data were collected through questionnaires and analyzed using structural equation m...
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LLC "CPC "Business Perspectives"
2025-01-01
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| Series: | Problems and Perspectives in Management |
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| author | Kantaphon Phanitrat Wilert Puriwat Danupol Hoonsopon |
| author_facet | Kantaphon Phanitrat Wilert Puriwat Danupol Hoonsopon |
| author_sort | Kantaphon Phanitrat |
| collection | DOAJ |
| description | The objective of this study is to explore factors influencing the readiness to enter smart retail businesses. This paper employed a quantitative approach. The sample consisted of 323 retail entrepreneurs in Thailand. Data were collected through questionnaires and analyzed using structural equation modeling (SEM) to verify whether the model constructed in this analysis is consistent, coherent, and suitable for practical application. The influencing factors are as follows: 1) The acceptance and use of technology by entrepreneurs (β = 0.63, p < 0.05), 2) The resource base of entrepreneurs (β = 0.52, p < 0.05), 3) The aspect of business networking by entrepreneurs (β = 0.48, p < 0.05), and 4) The competencies of entrepreneurs (β = 0.40, p < 0.05). These factors significantly affect the readiness to enter the retail market, aligning with empirical data. The structural equation model analysis examines the factors influencing the readiness of small and medium enterprise operators to enter the retail trade. The model meets the specified criteria, as indicated by the following compliance indices: CMIN/df = 2.841, CFI = 0.945, IFI = 0.942, and RMR = 0.036.
AcknowledgmentGratitude is expressed to all the faculty members of the Doctor of Philosophy Program in Technopreneurship and Innovation Management at Chulalongkorn University for imparting valuable knowledge and experience, as well as for their support and encouragement. |
| format | Article |
| id | doaj-art-e897fb2f1ce943bead5188836d5d9ae6 |
| institution | Kabale University |
| issn | 1727-7051 1810-5467 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | LLC "CPC "Business Perspectives" |
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| series | Problems and Perspectives in Management |
| spelling | doaj-art-e897fb2f1ce943bead5188836d5d9ae62025-01-17T09:11:15ZengLLC "CPC "Business Perspectives"Problems and Perspectives in Management1727-70511810-54672025-01-0123113214510.21511/ppm.23(1).2025.1021446Analyzing factors influencing SME readiness for smart retail: A structural equation model approachKantaphon Phanitrat0https://orcid.org/0009-0005-5251-0592Wilert Puriwat1Danupol Hoonsopon2https://orcid.org/0000-0001-6408-4790Ph.D. Candidate, Technopreneurship and Innovation Management Program, Department of Marketing, Chulalongkorn University, ThailandProfessor, Dean of Chulalongkorn Business School, Department of Marketing, Chulalongkorn University, ThailandAssociate Professor, Deputy Director, Department of Marketing, Chulalongkorn University, ThailandThe objective of this study is to explore factors influencing the readiness to enter smart retail businesses. This paper employed a quantitative approach. The sample consisted of 323 retail entrepreneurs in Thailand. Data were collected through questionnaires and analyzed using structural equation modeling (SEM) to verify whether the model constructed in this analysis is consistent, coherent, and suitable for practical application. The influencing factors are as follows: 1) The acceptance and use of technology by entrepreneurs (β = 0.63, p < 0.05), 2) The resource base of entrepreneurs (β = 0.52, p < 0.05), 3) The aspect of business networking by entrepreneurs (β = 0.48, p < 0.05), and 4) The competencies of entrepreneurs (β = 0.40, p < 0.05). These factors significantly affect the readiness to enter the retail market, aligning with empirical data. The structural equation model analysis examines the factors influencing the readiness of small and medium enterprise operators to enter the retail trade. The model meets the specified criteria, as indicated by the following compliance indices: CMIN/df = 2.841, CFI = 0.945, IFI = 0.942, and RMR = 0.036. AcknowledgmentGratitude is expressed to all the faculty members of the Doctor of Philosophy Program in Technopreneurship and Innovation Management at Chulalongkorn University for imparting valuable knowledge and experience, as well as for their support and encouragement.https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/21446/PPM_2025_01_Phanitrat.pdfacceptance of technologycompetenciesnetworkingresource basesmart retail |
| spellingShingle | Kantaphon Phanitrat Wilert Puriwat Danupol Hoonsopon Analyzing factors influencing SME readiness for smart retail: A structural equation model approach Problems and Perspectives in Management acceptance of technology competencies networking resource base smart retail |
| title | Analyzing factors influencing SME readiness for smart retail: A structural equation model approach |
| title_full | Analyzing factors influencing SME readiness for smart retail: A structural equation model approach |
| title_fullStr | Analyzing factors influencing SME readiness for smart retail: A structural equation model approach |
| title_full_unstemmed | Analyzing factors influencing SME readiness for smart retail: A structural equation model approach |
| title_short | Analyzing factors influencing SME readiness for smart retail: A structural equation model approach |
| title_sort | analyzing factors influencing sme readiness for smart retail a structural equation model approach |
| topic | acceptance of technology competencies networking resource base smart retail |
| url | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/21446/PPM_2025_01_Phanitrat.pdf |
| work_keys_str_mv | AT kantaphonphanitrat analyzingfactorsinfluencingsmereadinessforsmartretailastructuralequationmodelapproach AT wilertpuriwat analyzingfactorsinfluencingsmereadinessforsmartretailastructuralequationmodelapproach AT danupolhoonsopon analyzingfactorsinfluencingsmereadinessforsmartretailastructuralequationmodelapproach |