Effect of Human Capital Orientation and Goal Achievement of Hotel Businesses in Thailand
Main Article Content
บทคัดย่อ
In a business context, human capital orientation is the best way to approach at the corporate level such as objectives, structures, and processes to help firms develop effective strategies for maintaining a competitive advantage in dynamic environments. In this study, human capital orientation is considered as a key instrument which firms have implemented to organizational creativity capability, business innovation capability, and goal achievement. The key informants for this research were human resource directors or human resource managers in hotel business in Thailand. Data were collected through a mailed questionnaire distributed to 320 hotel businesses in Thailand, yielding a response rate of 20.91%. The factor loading and Cronbach’s alpha was used for instrumental testing. The regression analysis was conducted to examine all hypotheses. The finding indicate that human capital orientation has a positive effect on organizational creativity capability (Adjusted R2 = 0.112), business innovation capability (Adjusted R2 = 0.092), and goal achievement (Adjusted R2 = 0.237). Furthermore, business innovation capability has a positive effect on goal achievement (Adjusted R2 = 0.464), whereas organizational creativity capability has not a positive effect on goal achievement. These findings suggest that executives should implement effectively manage the knowledge, skills, experience, creative thinking, and competencies in order to encourage organizational innovation and to continue the achievement of organizational goals. Future research should explore the role of moderating variables in the relationship between human capital orientation and organizational outcomes, as well as conduct a comprehensive literature review to refine and reconceptualize this relationship.
Downloads
Article Details
อนุญาตภายใต้เงื่อนไข Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
บทความที่ได้รับการตีพิมพ์เป็นลิขสิทธิ์ของวารสารการบัญชีและการจัดการ
ข้อความที่ปรากฏในบทความแต่ละเรื่องในวารสารวิชาการเล่มนี้เป็นความคิดเห็นส่วนตัวของผู้เขียนแต่ละท่านไม่เกี่ยวข้องกับมหาวิทยาลัยมหาสารคาม และคณาจารย์ท่านอื่นๆในมหาวิทยาลัยฯ แต่อย่างใด ความรับผิดชอบองค์ประกอบทั้งหมดของบทความแต่ละเรื่องเป็นของผู้เขียนแต่ละท่าน หากมีความผิดพลาดใดๆ ผู้เขียนแต่ละท่านจะรับผิดชอบบทความของตนเองแต่ผู้เดียว
เอกสารอ้างอิง
Aaker, D. A., Kumar, V., & Day, G. S. (2001). Marketing research. New York: John Wiley &Sons.
Alqershi, N., Mohd Mokhtar, S. S., & Abas, Z. (2021). The relationship between strategic innovations, human capital and performance: An empirical investigation. Sustainable Futures, 3, 1-8.
Anwar, K., & Abdullah, N. (2021). The impact of human resource management practice on organizational performance. International Journal of Engineering, Business and Management, 5, 35-47.
Armstrong, J. S., & Overton, T. S. (1977). Estimating nonresponse bias in mail surveys. Journal of Marketing Research, 14(3),396-402.
Augustina, A. R., Afrin, F. R., & Fandi, A. (2023). Exploring the role of organizational creativity and open innovation in enhancing SMEs performance. Journal of Open Innovation: Technology, Market, and Complexity, 9(2), 1-15.
Awan, U., Braathen, P., & Hannola, L. (2023). When and how the implementation of green human resource management and data‐driven culture to improve the firm sustainable environmental development. Sustainable Development, 31(4), 2726-2740.
Azar, G., & Ciabuschi, F. (2017). Organizational innovation, technological innovation, and export performance: The effects of innovation radicalness and extensiveness. International Business Review, 26(2), 324–336.
Bakeev, B., Safargaliev, M., & Uraev, N. (2020). The impact of human capital on innovation activity in the region advances in economics. Business and Management Research, 128, 1317-1321.
Becker, G. S. (1964). Human capital: A theoretical and empirical analysis, with special reference to education. University of Chicago Press, Chicago.
Boso, N., Donbesuur, F., Bendega, T., Annan, J., & Adeola, O. (2017). Does organizational creativity always drive market performance?. In Psychology and Marketing, 34(11), 950-962.
Bryl, Ł. (2018). Human capital orientation and financial performance. A comparative analysis of US corporations. Journal of Entrepreneurship, Management and Innovation, 14, 61-86.
Bunnoon, P., Ussahawanitchakit, P., & Janjarasjit, S. (2013). Responsibility accounting effectiveness and goal achievement: Empirical evidence from food processing and beverage business in Thailand. Journal of Academy of Business and Economics, 13, 115-140.
Capozza, C., & Divella, M. (2019). Human capital and firms’ innovation: evidence from emerging economies. Economics of Innovation and New Technology, 28(7), 741–757.
Chaisena Y., Boonlua, S., & Songsrirote, N. (2019). Strategic organizational innovation capability and sustainable competitiveness: Evidence from packaging businesses in Thailand. Journal of MCU Social Science Review, 8(2), 206–222.
Chaudhary, S., & Singh, D. (2014). Does firm size affect HRM formality in organizations?. The International Journal of Business & Management, 2(6), 142-145.
Coad, A., Holm, J., Krafft, J., & Quatraro, F. (2018). Firm age and performance. Journal of Evolutionary Economics, 28(1), 1-14.
De Vasconcellos, S. L., Garrido, I. L., & Parente, R. C. (2019). Organizational creativity as a crucial resource for building international business competence. International Business Review, 28(3), 438–449.
De Vasconcellos, S. L., Parente, R. C., Schotter, A. P. J., Garrido, I. L., & Gonçalo, C. R. (2024). Organizational creativity: A microfoundation of the international business competence and performance link. Journal of International Management. 30, 1-18.
Esnah, D., & John, A. V. D. P. (2024). Disruptive innovation capability in resource-constrained environments: The role of strategic posture and human capital. Sustainable Futures, 8, 1-10.
Galovská, M. (2015). Human capital and potential to increase its creativity. Creative and Knowledge Society, 5(2), 1-11.
Gillies, D. (2011). State education as high-yield investment: human capital theory in European policy discourse. Journal of Pedagogy, 2(2), 228.
Gordon, L., Stephen X. Z., Wai, W. K., Asghar, A. J., Yantai, C., & Joshin, J. (2025). Causation processes and innovation strategy in small- and medium-sized firms in emerging countries: The moderating role of founder-CEOs' human capital. Technological Forecasting and Social Change, 212, 1-18.
Groenewald, C. A., Groenewald, E., Kilag, O. K., Andrin, G., Pernites, M. J., & Macapaz, M. K. (2024). Optimizing human capital: Exploring the effectiveness of HRM systems. International Multidisciplinary Journal of Research for Innovation, Sustainability, and Excellence (IMJRISE), 1(3), 85-92.
Hair, Jr. J. F., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis: A Global Perspective. 7th Ed. New Jersey: Pearson Prentice Hall.
Hareebin, Y. (2020). Human capital development in the strategy of innovation entrepreneurs. Journal of Economics and Management Strategy, 7(1), 159-172.
Heikkilä, M., Bouwman, H., & Heikkilä, J. (2018). From strategic goals to business model innovation paths: an exploratory study. Journal of Small Business and Enterprise Development, 25(1), 107-128.
Hendarman, A. F., Sari, F. A., Reza, L. V. E., Damar, M. R., Handayani, M., Zefanya, S., Adinata, S. J. T., Stephanie, B., & Parera, S. B. (2020). Human capital mapping for industry 4.0: gap and index. International Journal of Advanced Science and Technology, 29(2), 112-119.
Hidayat, M., & Widodo, A. (2022). The influence of human capital on organizational performance. DiE Jurnal Ilmu Ekonomi dan Manajemen, 13(2), 195-205.
Iqbal, M., Mawardi, M. K., Sanawiri, B., Alfisyahr, R., & Syarifah, I. (2023). Strategic orientation and its role in linking human capital with the performance of small and medium enterprises in Indonesia. Journal of Research in Marketing and Entrepreneurship, 25(3), 514-542.
Jansawang, K., & Prombutara, S. (2019). Human capital with change: A paradigm shift of human resource management. Journal of Management Sciences, 6(2), 209-222.
Jeong, I., & Shin, S. J. (2019). High-performance work practices and organizational creativity during organizational change: a collective learning perspective. Journal of Management, 45(3), 909–925.
Jirawuttinunt, S., Issarapaiboon, A., Mueangjum, C., & Pataraarechachai, V. (2024). The role of organizational innovation capability in the relationship between disruptive innovation and organizational performance of Thai listed firms. ABAC Journal, 44(3), 193-209.
Khusnah, H., & Soewarno, N. (2023). Human capital readiness and global market orientation to business performance: The mediation role of green innovation. Contaduría y Administración, 69(4), 1-19.
Lee, B. (2019). Human capital and labor: The effect of entrepreneur characteristics on venture success. International Journal of Entrepreneurial Behaviour & Research, 25, 29-49.
Lohapan, N., Phornlaphatrachakorn, K. & Raksong, S. (2018). Accounting information system quality and business goal achievement: An empirical evidence from auto parts SMEs in Thailand. Veridian E-Journal, Silpakorn University (Humanities, Social Sciences and Arts), 11(4), 538-560.
Mendoza-Silva, A. (2021). Innovation capability: a systematic literature review. European Journal of Innovation Management, 24(3), 707-734.
Mohammad Shafiee, M., Warkentin, M., & Motamed, S. (2024). Do human capital and relational capital influence knowledge- intensive firm competitiveness? The roles of export orientation and marketing knowledge capability. Journal of Knowledge Management, 28(1), 138-160.
Nunnally, J. C., & Bernstein, I. H. (1994). Validity. Psychometric theory, 99-132.
Obinna, C. E. (2024). Neo-liberalism, human capital theory and the right to education: Economic interpretation of the Purpose of education. Social Sciences & Humanities Open, 9, 1-11.
Parthasarathy, R., Garfield, M., Rangarajan, A., & Kern, J. (2021). The case of organizational innovation capability and health information technology implementation success: As you sow, so you reap?. International Journal of Healthcare Information Systems and Informatics,16,1-27.
Phornlaphatrachakorn, K. (2018). Strategic performance measurement and firm success of Thai listed firms: A managerial accounting approach. Creative Business and Sustainability Journal, 39(4), 1–29.
Radhakrishna, A., & Raju, R. S. (2015). A study on the effect of human resource development on employment relations. The IUP Journal of Management Research, 14(3), 28-42,
Ranu, M. E., Kamdi, W., Hadi, S., & Yoto, Y. (2024). Development of a self-directed professional learning scale human capital-oriented for vocational higj school teachers in business and management subjects. Journal Ekonomi Pendidikan Dan K ewirausahaan, 12(1), 93–118.
Riaz, H., & Hassan, A. (2019). Mediating role of organizational creativity between employees’ intention in knowledge management process and organizational performance: Empirical study on pharmaceutical employees. Pakistan Journal of Commerce and Social Sciences, 13(3), 635–655.
Rundjan, E., & Susanti, M. (2023). Intellectual capital, capital structure, firm size, firm age and financial performance. International Journal of Application on Economics and Business, 1(1), 38-48.
Salfore, N., Jaleta, M., & Alemu, Z. (2023). Business model innovation and firm performance: Evidence from manufacturing SMEs. Heliyon, 9, 15.
Scheibe, K., & Gupta, M. (2017). The effect of socialization via computer-mediated communication on the relationship between organizational culture and organizational creativity. Communications of the Association for Information Systems, 40(1), 13.
Sipa, M. (2018). The factors determining the creativity of the human capital in the conditions of sustainable development. European Journal of Sustainable Development, 7(2), 1-13.
Spruijt, J., Demouge, K., Viets, W., Reeb-Gruber, S., Bruin, L., & Van der Burgt, R. (2018). Business Innovation: a framework for systematically creating sustainable value through entrepreneurship,1-20.
Tatli, H. (2024). Linking human capital to innovation capability: a dynamic capabilities perspective. KMU Journal of Social and Economic Research, 26(47), 961-977.
Tian, Q., Zhang, S., Yu, H., & Cao, G. (2019). Exploring the factors influencing business model innovation using grounded theory: the case of a Chinese high-end equipment manufacturer. Sustainability, 11(1455), 1-16.
Yen, Y.F. (2014). The impact of bank’s human capital on organizational performance: How innovation influences performance. Innovation: Management, Policy & Practice, 15(1), 112-128.
Yusuf, M. N., & Yulianeu, A. (2023). Energizing organizational learning and organizational performance: human capital theory perspective. Quality - Access to Success, 24(192), 82–93.
