COMPETITIVE EFFICIENCY MODEL FOR NEW ERA ENTREPRENEURS IN HEALTH PRODUCTS IN THAILAND

Abstract

Abstract— As Thailand's health products industry undergoes a transformative evolution, propelled by heightened consumer awareness and technological advancements, the entrepreneurial landscape within the sector is becoming increasingly dynamic. This study endeavors to unravel the intricate factors influencing competitive efficiency among new era entrepreneurs operating in the realm of health products in Thailand. This research employed a mixed-methods, quantitative surveys and qualitative interviews to provide a comprehensive understanding of the entrepreneurial dynamics at play. The investigation identifies and analyzes key determinants of competitive efficiency, focusing on innovation, market orientation, technological integration, and regulatory compliance. Quantitative analyses reveal statistically significant correlations between competitive efficiency and each of the identified factors, emphasizing their individual impact on entrepreneurial success. Qualitative insights, garnered through in-depth interviews with entrepreneurs and industry experts, shed light on the nuanced strategies employed to navigate the multifaceted challenges of the health products landscape in Thailand. The study concludes by offering actionable recommendations for entrepreneurs, policymakers, and academics, emphasizing the importance of embracing innovation, prioritizing market understanding, leveraging technology effectively, and establishing robust regulatory compliance practices.