Strategic Intuition Capability toward Performance of Entrepreneurs: Evidence from Thailand

• Published in: The Journal of Asian finance, economics, and business Vol. 7; no. 6; pp. 465 - 473
• Main Authors: AUJIRAPONGPAN, Somnuk, RU-ZHE, Jintanee, JUTIDHARABONGSE, Jaturon
• Format: Journal Article
• Language: English
• Published: 한국유통과학회 30.06.2020
• Subjects: 경제학; Strategic Intuition Capability; Entrepreneur; Thailand; Knowledge Management; Firm Performance; SMEs
• ISSN: 2288-4637; 2288-4645
• DOI: 10.13106/jafeb.2020.vol7.no6.465

The objective of this research is to study the confirmative components of strategic intuition capability and the study of causal influence between strategic intuition capability and firm performance of SMEs in Thailand. The consistency method, structural equation models and empirical data were used to test the influential factors on firm performance. Models were then proposed for the development of the strategic intuition capability of entrepreneurs in Thailand. The research sample consisted of 342 SME provincial champion entrepreneurs listed with Thailand’s Office of Small and Medium Enterprises. The research results reveal that the model of strategic intuition capability responded well to the empirical data. Additionally, a relationship was identified between firm performance and the causal influence of the strategic intuition capability of entrepreneurs. In accordance with the empirical data, the strategic intuition capability of entrepreneurs had a significant causal influence on firm performance (Chi-square = 35.71, df = 25, P-value = 0.07615, GFI = 0.98, AGFI = 0.96, RMSEA = 0.033, RMR = 0.027). Furthermore, with respect to the development of strategic intuition capability, the development of genuine wisdom based on systematic knowledge management achieved via conscious mental concentration may lead to the next stage of strategic intuition.