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The effect of competitive advantage on success of small and medium enterprise entrepreneurs: A case study of the restaurant business in Nakhon Ratchasima province
Abstract:
Abstract
The objective of this research was to study the effect of competitive advantage on the success of small and medium enterprise entrepreneurs: a case study of the restaurant business in Nakhon Ratchasima Province. The samples consisted of 232 business owners or managers of small and medium sized enterprises in the restaurant business in Nakhon Ratchasima Province. A questionnaire was used as a tool to collect data. Data were analyzed using descriptive statistics such as frequency, percentage, mean, and standard deviation. Multiple regression analysis was used to test hypotheses. The research results found that competitive advantage in the dimensions of cost leadership, product differentiation, quick response, and niche market segments has a positive direct effect on the success of small and medium enterprise entrepreneurs in the restaurant business in Nakhon Ratchasima Province at the 0.01 statistically significant level. All of the independent variables were able to predict entrepreneurial success at 74.10 percent (Adj. R2 = 0.741).
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