Orachorn Suriyo, Natha Sawatenarakul, Sakrapee Worawattanaparinya
Aim: The objective of this research was to study the guidelines of industrial business development by good governance principles for sustainable growth.
Methodology: This research was a mixed-methodology research including the qualitative research and the quantitative research with quantitative data survey by distributing the questionnaires to 500 executives who were responsible for good governance and organizational sustainability. The three main statistical methods used in data analysis were descriptive statistics, inferential statistics and multiple regressions.
Finding: The results of the research revealed that the guidelines of industrial business development by good governance principles for sustainable growth consisted of four main factors: business ethics, team management, collaboration network and customer relationship management. The sample group focused on all the variables at a high level. The results of structural equation model analysis were proved by congruence evaluation criteria including Chi-square probability of 0.057, relative Chi-square of 1.170, index of item objective congruence of 0.962 and root mean square error of approximation of 0.018. The result of research hypothesis test showed that the business ethics variables directly influenced the team management variables at statistical significance level of 0.001, the business ethics variables directly influenced the collaboration network variables at statistical significance level of 0.001, the collaboration network variables directly influenced the customer relationship management variables at statistical significance level of 0.001, the team management variables directly influenced the customer relationship management variables at statistical significance level of 0.001 and the team management variables directly influenced the collaboration network variables at statistical significance level of 0.001.
Conclusion: The results of study showed that the highest average of the guidelines of industrial business development by good governance principles for sustainable growth was as follows: the business ethics i.e., focusing on and treating every stakeholder equally, the team management i.e., providing equal chances to all members to give their opinions or reporting any problem through various channels, the collaboration network i.e., clearly assigning the structure and roles of the members and the customer relationship management i.e., recording and storing the customers’ data with proper system. The small and medium enterprises and large enterprises focused on the guidelines of industrial business development by good governance principles for sustainable growth differently at statistical significance level of 0.05.