The Structural Equation Model of Creative Economy for Competitive Advantages of Community Enterprises

Abstract

          The objectives of this research were 1) to study the components of creative economy for community enterprises and 2) to examine the relationship of the conceptual framework of creative economy for community enterprises. This research is quantitative research. Data were collected from 310 community enterprise entrepreneurs in Bangkok and its vicinities. The instrument used in the research questionnaire tested for index of item-objective (IOC) was between 0.60-1.00. The statistics used in the research consisted of descriptive statistics, factor analysis and path analysis.
          The results showed that the exploratory factor analysis (EFA). It was found that the latent variables in the concept of sufficiency economy, there are 6 observable variables. To measure latent variables in terms of difficulty to imitate, four observable variables were used.  The Local cultural latent variables were measured using five observable variables. In terms of latent variables for marketing success, 5 observed variables were used. To measure and latent variables in competitive advantage, three observed variables were used. And research found that the local cultural variable had the highest correlation path value. The results of the relation analysis examination to assess the consistency index were appropriate and harmonious. (Chi-square = 978, df = 489, p-value = 0.0000, RMSEA = 0.038, CFI = 0.93, GFI = 0.93)
          Recommendations from causal analysis. The results reveal that the distinctiveness of the local area had to be created as a highlight. Linking local stories to create product highlights and differences in each locality. Resulting in the creation of novelty combined with the use of online technology. Including having to respond to the needs of consumers in each age group.