Author(s): Thanin Silpcharu, Wongtawat Boonrattanakul
Aim: As Thailand is becoming Aged Society nowadays, business sectors must therefore adjust themselves for changes of target customers who are the elderly. This research aims to study second order confirmatory factor analysis of guidelines for the elderly business in Thailand.
Methodology: Mixed method (qualitative and quantitative research) was carried out in this research by surveying qualitative data via in-depth interview with 9 experts and quantitative data from 500 entrepreneurs who run aging-related business by qualitative research using purposive sampling and descriptive statistics using Statistical Package for the Social Sciences (SPSS), and multivariate statistics analysis using Analysis of a Moment Structures (AMOS).
Finding: Research results showed that the second order confirmatory factor of guidelines for the elderly business in Thailand consisted of 5 components; innovation and technology, resource, internal process, marketing, and learning growth. Analysis results of developed model were found corresponded to the evaluation criteria and fit to empirical data with 0.092 Chi-Square Probability Level, 1.116 of Relative Chi-Square, 0.955 of Goodness of Fit Index, and 0.015 of Root Mean Square Error of Approximation.