Business Performance Success by Local Thai Firms Applying Innovation Management and Social Media

Abstract

The objectives of this research were firstly, to study how to measure the Business Performance Success of local Thai firms and secondly, to study the factors related to Local Thai  Firm Performance Success. This research used the qualitative method and analyzed based on  phenomenology methodology. Data were collected using In-depth Interviews with the key informants: the experienced dessert business entrepreneurs and the other people related to these business operations in Petchburi Province. Then, the narrative data was analyzed and applied to the literature reviews to explain the occurrences. The research found that 1) the Business Performance
Success of local Thai firms valued by Corporate Brand, Enterprise value, Recognition and Measurement of Business Transaction and Employee Engagement and, 2) the factors that related to Local Thai Firms Performance Success composed of Innovation Management Factors (Organization, Environment, Human Resource Management, Learning Organization and Knowledge, Environment Management and Creative Innovation) and Applying Social Media Factors (Lead Generation, Customer Retention and
Brand Awareness), the most important factors were Innovation Management and Applying Social Media Factors. Moreover, the local business entrepreneurs chose Product Creative Innovation as a main approach to enhance sustainable success of a business operation. Most of them thought that the new knowledge did not match the traditional ideas and that the Inspiration for innovation development came from the outside in.