Author(s): Niwat Noorit, Anucha Thapayom, Pairat Pornpundejwittaya
Aim: The objective of this research was to study the guidelines for adaptation of the Thai industrial business to support the digital economy.
Methodology: This research was an inductive research with mixed-methodology research including the qualitative research through in-depth interview and the quantitative research by collecting the quantitative data of 500 business executives of the industrial business companies that use digital technology in their operations divided into large enterprises, small and medium enterprises to analyze and improve the structural equation model (SEM). And finally, the structural equation model was fit an in accordance with empirical data.
Finding: The results of the research revealed that the guidelines for adaptation of the Thai industrial business to support the digital economy with the highest means consisted of (1) Transformational Leadership i.e., be open to digital innovations and ready to accept mistakes to open up new opportunities at acceptable risk, (2) Organizational Structure i.e., restructuring the organization to operate in a fluid and evolving environment, (3) Skills and Capability Management i.e., added the format of training through the Internet or online training through websites or applications, (4) Application of Technology i.e., use digital technology to expand networks of collaboration facilitating, and (5) Business Process Management i.e., reducing unnecessary steps and processes. For the result of the hypothesis test, it was found that large enterprises, small and medium enterprises weighed the guidelines for adaptation of the Thai industrial business to support the digital economy with no difference at the statistically significant level of 0.05.
Conclusion: This research could be concluded that the approach to adaptation of the Thai industrial business to support the digital economy is an organizational management guideline that values the adaptation in the digital age under today's rapidly changing technological environment to create business opportunities. The results of the structural equation model analysis were proved through the evaluation criteria with the empirical data with the Chi-square probability of 0.055, the relative Chi-square of 1.142, the correlation