Author(s): Veerasith Wongkarn, Anucha Thapayom, Pairat Pornpundejwittaya
The objective of this research was to study the components of an efficient development approach for insulated wire and cable manufacturing industry in Thailand. The mixed research method was used starting with qualitative research with in-depth interview techniques to find factors to develop into a model and quantitative research collecting data from the sample group of 500 executives of the insulated wire and cable manufacturing industry to develop and analyze the model. Lastly, the qualitative research was conducted with group discussion techniques to verify the validity of the model. The results of the simulation analysis revealed to be consistent with empirical data. The hypothesis testing results showed that financial management directly influenced human resource management technology application and product development at the statistical significance of .001 level. The application of technology directly influenced human resource management and product development at the statistical significance of 0.001 level. In addition, human resource management directly influenced product development at the statistical significance of .001 level. It could be concluded that the efficient development of the insulated wire and cable manufacturing industry in Thailand should start with financial management as the financial management was an important factor in technology application investment planning, human resource management, and corporate product development in order to compete in the market vigorously and sustainably.