EFFECT OF SOCIAL CAPITAL, KNOWLEDGE MANAGEMENT, ORGANIZATIONAL LEARNING AND RISK CULTURE ON RISK MANAGEMENT CAPABILITY BUILDING OF HEALTHCARE BUSINESS
Creators: name: VEENA CHANTARASOMPOCH
name: NATTAPONG TECHARATTANASED
name: BUNDIT PUNGNIRUND
name: PAWEENA SRIBUNRUENG
name: SURIN SONY
Publisher: name: Zenodo
Year: 2024
Subjects: Social Capital/Knowledge Management/Risk Culture/ Risk Management Capability Building.

description: Abstract

Given the constant changes and complexity of the current economic, political, and social climate, healthcare business entrepreneurs must confront daily operations risks, especially during the COVID-19 pandemic. In the meantime, the focus on healthcare among customers is increasing leading to high healthcare business and disease prevention service growth. Consequently, the healthcare business needs to consider the factors that help develop and improve the management capability of risk that maybe arise. This research aims to 1) examine the level of social capital, knowledge management, organizational learning and risk culture affecting risk management capability building of the healthcare business, 2) explore the effect of social capital, knowledge management, organizational learning, and risk culture affecting risk management capability of healthcare business, and 3) develop the driving model of risk management capability building of healthcare business. The study used a mixed research methodology that combined quantitative and qualitative methods. The quantitative sample group consisted of 420 owners and entrepreneurs of elderly care business in Bangkok and vicinity, selected based on a multiple-stage sampling process using 20-time criteria of the observed variable. Data was collected through questionnaires and analyzed using structural equation modelling. For the qualitative aspect, in-depth interviews were conducted 17 experts in risk management capability building of healthcare business in Thailand, who had at least 5-year experienced in the field. The findings revealed that 1) social capital, knowledge management, organizational learning, risk culture, and risk management capability of the healthcare business were all at a high level, ; 2) social capital, knowledge management, organizational learning and risk culture affected risk management capability of the healthcare business at statistical significance level of .05, ;  and 3) the risk management capability model of healthcare business as developed by the researcher was called SKOR-RM Model (S = Social Capital, K = Knowledge Management, O = Organizational Learning, R = Risk Culture, Risk Management Capability Building in Healthcare Service).  Additionally, the qualitative term indicated that to succeed in building risk management capability, entrepreneurs should emphasize the development of healthcare service model by applying management innovation to be in the form of elderly innovation and technology model that now in high demand, i.e., smart hearing aids, power-lift bed, human support robot, elderly walker, StairSteady, liftware spoon for Parkinson patient and food for dysphagia patient, etc. This research can be proposed to concerned authorities for defining their policies for promoting and developing healthcare business entrepreneurs and personnel to upgrade healthcare business and create remarkableness and market positioning at the regional level with sustainable potential in due course.