MODEL OF CHARACTERISTICS OF HIGH-PERFORMANCE ORGANIZATIONS INFLUENCING THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN THE CENTRAL REGION OF THAILAND
Authors: Siyaphat Suthithananchai , Kajornatthapol Pongwiritthon , Patra Asakan 
Published: October 2024

Purpose:  To develop a model that explores the characteristics of high-performance organizations and their impact on the performance of small and medium enterprises (SMEs) in the central region of Thailand.
 
Theoretical framework: The performance of an organization involves two variables: 1.) Financial results, including metrics such as higher returns on assets (ROA), return on equity (ROE), leverage ratio, earnings growth, and return on investment (ROI) (The Stock Exchange of Thailand, 2022). 2.) Organizational leadership and governance results, emphasizing the pivotal role of senior leaders in organizational leadership and governance, financial accountability, legal compliance, ethical conduct, social responsibility, and community support was assessed using four aspects adopted from Kajornatthapol P. and Surachai U., (2011).
 
Design/methodology/approach: The study analyzed international publications on blended learning in management and business, focusing on authors, journals, and cooperation between countries. It employed a quantitative approach, using a questionnaire to gather data from SME executives in Thailand's central region (3,283 cases). Sampling used nonprobability and purposive methods, with a sample size suitable for structural equation modeling (SEM). The questionnaire comprised four parts assessing organizational characteristics, performance, respondent information, and opinions. Financial results were evaluated on a 5-level scale. Content validity was ensured through expert evaluations, and reliability was confirmed via Cronbach's alpha (0.86) and item-total correlation (>0.30). Data were analyzed using descriptive statistics, confirmatory factor analysis, and various evaluation indices. The research aims to enhance understanding of high-performance SMEs in Thailand's central region.
 
Findings: The research findings indicate a growing volume of studies on high-performance organizations in the context of SMEs in Thailand's central region, with a limited number of influential authors, institutions, and journals. The model developed successfully aligns with empirical data, revealing positive impacts of organizational leadership, strategic planning, customer focus, knowledge management, workforce focus, and operations focus on SME performance. These findings underscore the importance of promoting awareness of these factors within the Thai SME sector to foster more high-performance enterprises, aligning with Thailand's development goals. The research contributes valuable insights applicable not only locally but also globally, emphasizing the significance of sustainable practices aligned with Thailand 4.0 and collaborative efforts between government and private sectors for national sustainability.
Research, Practical & Social implications: The research yields significant implications for research, practice, and society. It sets a foundation for future studies on high-performance organizations in SMEs, emphasizing leadership, strategic planning, and customer focus. Moreover, it enhances executive education by offering insights into organizational performance improvement. Practically, it guides SMEs in Thailand and beyond to optimize operations and achieve sustainable growth through the adoption of high-performance characteristics. Policymakers can leverage these findings to design initiatives supporting SME development, aligning with economic goals. Societally, the research underscores the importance of sustainability and responsible practices, advocating for knowledge management and strategic alignment with national plans. Collaboration between government, private sectors, and civil society is vital to promoting sustainable business practices and fostering inclusive growth.
 
Originality/value:   The research demonstrates a growing number of publications in the field of management and business, particularly in co-authorship with leading countries. It highlights the significance of the Model of Characteristics of High-Performance Organizations in understanding and enhancing SME performance in Thailand's central region, contributing to the existing body of knowledge.