Entrepreneurial Orientation influencing Business Performance of Community Pharmacies in Eastern Economic Corridor of Thailand

Abstract

          In the current overview, community pharmacy operators face many obstacles. from increased competition, changes in consumer behavior, Implementation of the Asean Economics Community (AEC) and the need to improve laws regulating the pharmacy profession to be consistent with global norms. These changes present both opportunities and obstacles that community pharmacy business operators must face. Therefore, it is necessary for community pharmacy business operators’ entrepreneurial orientation must be developed. To be able to compete amidst rapidly changing economic conditions.
          This study is quantitative research. The objective is to study the level of entrepreneurial orientation of community pharmacy businesses in the EEC area and to analyze the influence of entrepreneurial orientation on the performance of community pharmacy businesses in the EEC area. Using the convenient sample selection method data were analyzed from a sample of 400 people, including pharmacy owners, Pharmacists owning pharmacies, Pharmacists, Pharmacy managers In Chonburi, Rayong and Chachoengsao provinces. The level of variables was analyzed by mean, standard deviation. Structural equation modeling analysis was used to analyze the influence of entrepreneurial orientation on financial performance and customer performance of community pharmacy businesses in the EEC area.
          The results of the study found that the level of entrepreneurial orientation that affects the financial performance and customer performance of the community pharmacy business in the EEC area is overall at a high level. When considering each aspect in order from highest to lowest, it was found that perseverance, autonomy, passion for the business that one likes, proactive work, innovativeness, risk-taking, and competitive aggressiveness, all aspects were at a high level. The model of the influence of entrepreneurial orientation that influences financial performance and customer performance of community pharmacy businesses in the EEC area, perseverance, autonomy, passion for the business that one likes, proactive work, innovativeness, risk-taking, and competitive aggressiveness.
          The results of this research thus point out the importance of entrepreneurial orientation in increasing the operational efficiency of community pharmacy businesses and increase the success of the community pharmacy business in the Eastern Economic Corridor of Thailand.