The Effects of Critical Success Factors on Social Enterprises Sustainability

Kanchaya Chaivirutnukul, Achara Chandrachai

Abstract


This is a mix-method study to investigate critical success factors which can support social enterprises in Thailand to measure their sustainability. The quantitative data were gathered through questionnaire, while qualitative data were derived from semi-structures interview. The data were analyzed by descriptive statistics, a multiple regression, and content analysis. It was found that the highest-correlated factor with sustainable growth for social enterprises is Value Creation with mean value of 4.03. Importantly, Value Creation and The Philosophy of Sufficiency Economy were found to be the important indicators of economic, social, and environmental key performance, while Financial Management was the indicator of economic and environmental key performance of social enterprises in Thailand. The implications of this study shed light on how social enterprises make themselves sustainable and how they measure their sustainability over the long term.

Keywords


Social enterprises, critical success factors, social enterprises sustainability, economic key performance, social key performance, environment key performance

Full Text:

PDF

References


Areekul, C., “Model Development for Strengthening Social Capital for Being a Sustainable Lifelong Learning Society”, PhD Dissertation, Department of Non-Formal Education, Faculty of Education, Chulalongkorn University, Thailand, 2013.

Austin, J., Stevenson, H. and Wei-Skillern, J., “Social and Commercial Entrepreneurship: Same, Different, or Both?”, Entrepreneurship Theory and Practice, vol. 30, no.1, 2006.

Barney, J., “Firm Resource and Sustained Competitive Advantage”, Journal of Management, vol. 17, no. 1, pp. 99-120, 1991.

Bullen, C.V. and Rockart, J.F., A Primer on Critical Success Factors, Massachusetts Institute of Technology, Sloan School of Management, Massachusetts, USA, 1981.

Coburn, J. and Rijsdijk, R., “Evaluating the Success Factors for Establishing a Thriving Social Enterprise in Scotland”, Social Science in Government, 2010.

David, C. and Montgomery, C.A., “Competing on Resources: Strategy in the 1990s”, Harvard Business Review, vol. 73 (July-August), pp.118-128, 1995.

Essen, J., “Sufficiency Economy and Santi Asoke: Buddhist Economic Ethics for a Just and Sustainable World”, Journal of Buddhist ethics, 2010.

Freund, Y.P., “Critical success factors’ Planning Review”, vol. 16, no. 4, 1988.

Gummerus ,J., “Value creation processes and value outcomes in marketing theory: Strangers or siblings?”, Marketing Theory, vol. 13, no. 1, 2013.

Iyenger, A., “Role of Social Enterprise Greenhouse in Providence’s Economic Development”, Social Enterprise Greenhouse Talent Retention Intern, 2015.

Jariyavidyanont, S., “Social Entrepreneurship: Principles and Basic Concepts for Social Development”, Journal of Social Development, vol. 12, no.1, 2010.

Kerlin, J.A., Social enterprise: A global comparison, University Press of New England, 2009.

Khunthongjan, S., “Increasing labor productivity of non-vocational graduates in happy-workplace organizations”, Silpakorn University Journal, vol. 38, no. 4, 2018.

Kogut, B. and Zander, U., “Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology”, Organization Science, vol. 3, no. 3, 1992.

LaSalle, J.L., “The Role of Finance in Environmental Sustainability Efforts”, CFO Publishing Corp., Boston, 2008.

Makkonen, M. and Sundqvist-Andberg, H., “Customer value creation in B2B relationships: Sawn timber value chain perspective”, Journal of Forest Economics, 29, 2017.

Michel-Kerjan, E.O., Environmental Sustainability and value Creation, 2014.

Mohajan, H., “Two Criteria for Good Measurements in Research: Validity and Reliability”, Annals of Spiru Haret University, vol. 17, no. 3, 2017.

Mort, G.S., Weerawardena, J. and Carnegie, K., “Social Entrepreneurship: Towards Conceptualisation”, International Journal of Nonprofit and Voluntary Sector Marketing, vol. 8, no. 1, 2002.

Naipinit, A., Promsaka Na Sakolnakorn, T. and Kroeksakul, P., “Sufficiency Economy for Social and Environmental Sustainability: A Case Study of Four Villages in Rural Thailand”, Asian Social Science, vol. 10, no. 2, 2014.

Nonaka, I., “The Knowledge Creating Company”, Harvard Business Review, vol. 69, pp. 96-104, 1991.

Pandis, N., “Multiple linear regression analysis”, American Journal of Orthodontics and Dentofacial Orthopedics, vol. 149, no. 4, 2016.

Puntasen, A.,Premchuen, S. and Keitdejpunya, P., Application of the royal thought about the Sufficiency Economy in SMEs, Bangkok: Thailand Research Fund, 2003.

Salikin, Ab Wahab and Muhammad, “Strengths and Weaknesses among Malaysian SMEs: Financial Management Perspectives”, Paper Presented at the International Conference on Innovation, Management and Technology Research, 22–23 September 2013, Malaysia, 2013.

Shin, C., “How Social Entrepreneurs Affect Performance of Social Enterprises in Korea: The Mediating Effect of Innovativeness”, Sustainability, vol.10, no. 8, 2018.

Shone, J.J., “National Sustainable Development Policy under the Approach of the Sufficiency Economy Philosophy: A Case Study of the LAO P.D.R.”, Unpublished PhD Dissertation, Chulalongkorn University, Thailand, 2011.

Strothotte, T.G. and Wüstenhagen, R., “Structure of Sustainable Economic Value in Social Entrepreneurial Enterprises”, in G.T. Vinig, R.C.W. Van Der Voort (ed.), The Emergence of Entrepreneurial Economics, Emerald Group Publishing Limited, pp.129 – 140, 2005.

Suntrayuth, S., “The Sufficiency Economy Philosophy and Small and Medium-sized Enterprises in Thailand”, International Review of Management and Marketing, Econjournals, vol. 8, no. 2, 2018.

van Veen-Dirks, P. and Wijn, M., “Strategic control: meshing critical success factors with the balanced scorecard”, Long Range Planning, vol. 35, no. 4, 2002.

Weerawardena, J., Mcdonald, R.E. and Mort, G.S., “Sustainability of nonprofit organizations: An empirical investigation”, Journal of World Business, vol. 45, no. 4, 2010.




DOI: https://doi.org/10.24203/ajas.v7i3.5858

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.