THE IMPACT OF ENTREPRENEURSHIP AND INNOVATION ON BUSINESS PERFORMANCE OF BUFFET RESTAURANT BUSINESS.

Abstract

The objectives of this research were; firstly, to study the level of business owner’s entrepreneurship, innovation, and business performance of buffet business in the northeastern of Thailand, secondly, to examine the differences in terms of entrepreneurship, innovation, and business performance of buffet business when classified by organizational factors, thirdly, to investigate the influence of entrepreneurship and innovation on business performance. The focus target population includes the buffet business owner’s in the northeastern of Thailand, for a total of 3,703 enterprises. A sample was calculated according to the formula of Taro Yamane, and 400 samples were selected by proportional sampling and simple random sampling. Reliability testing was calculated by Cronbach's alpha coefficient values as follows; 0.823 of entrepreneurship, 0.820 of innovation and 0.706 of business performance. The statistics used for data analysis were frequency, percentage, mean, and standard deviation. The hypothesis has been tested by F-test (One Way ANOVA), Pearson product coefficient correlation, and Regression analysis.
The research results found that; the entrepreneurship, the innovation, and the business performance of buffet business in the northeastern of Thailand were high level. The hypothesis testing; there was not different in the level of entrepreneurship, innovation, and business performance when classified by organizational factors. The entrepreneurship can predict an innovation of 70.8%. Furthermore, it was found that the entrepreneurship presents a statistically significant positive influence on innovation by the standardized coefficients (β) was 0.842. For the second equation, innovation can predict a business performance of 83.5%, standardized coefficients (β) equals to 0.914. For the third equation, entrepreneurship and innovation can predict a business performance of 91.3%. In addition, it was found that the entrepreneur had positive impact on business performance than innovation. The standardized coefficient (β) of entrepreneurship was 0.519 and innovation standardized coefficient (β) was .477 respectively. Therefore, it can be concluded that the entrepreneurship and innovation had statistically significant positive at 0.05 levels impact on business performance of buffet business in the northeastern of Thailand.