The Development of Causal Relationship Model of Shared Value Creation Strategies between Business and Society of Industrial Entrepreneurs in Eastern Region of Thailand

Abstract

The purposes of this research were (1) to study the shared value creation strategies between business and society of industrial entrepreneurs in the Eastern region of Thailand, (2) to study the components of shared value creation between business and society of industrial entrepreneurs in the Eastern region of Thailand, and (3) to develop the causal relationship of shared value creation strategies between business and society of industrial entrepreneurs in the Eastern region of Thailand. Quantitative method is used in this study. The research results showed that respondents' attitudes towards the components of shared value creation strategies between business and society in terms of strategic planning, social accountability, business ethics, and corporate sustainability, and shared value creation can be interpreted as very strongly agreed; whereas corporate governance can be interpreted as agreed. The results of Pearson Correlation analysis on the shared value creation strategies between business and society showed that the strategies which had highest correlation were that of between corporate sustainability and shared value creation strategy. The results of analysis on the causal relationship of shared value creation strategies between business and society, adjusted by the researcher is relevant to the empirical data by  / df is not exceeded 2 ( / df = 1.97), and RMSEA is less than .05 (RMSEA= 0.045). Therefore, it can be presented that the causal relationship of shared value creation strategies between business and society is relevant to the empirical data.