TITLE:
Small Business’s Retention during Covid-19 Crisis
AUTHORS:
Pavinee Na Srito, Sobchoke Na Srito, Rapepun Piriyakul
KEYWORDS:
People-Oriented Management (POR), Technology-Oriented Management (TOR), Organizational Asset (OAS), Firm Retention (FIR)
JOURNAL NAME:
Open Journal of Business and Management,
Vol.11 No.5,
September
28,
2023
ABSTRACT: This study was aimed at investigating the levels of
people-oriented management, technology-oriented management, organizational
asset, and firm retention and the
structural equation model of the antecedents, i.e. people-oriented management and technology-oriented management, with organizational asset as
mediator and firm retention as consequence. It was conducted by interviewing
entrepreneurs in the study group to identify key factors affecting their
business survival, reviewing the literature to support the creation of research
conceptual framework and questions, taking a random sample from small
businesses that could maintain their businesses, and using a synthesized
questionnaire for quantitative research to examine the causal factors
influencing existence of small business entrepreneurs under the COVID-19
pandemic. The population and sample of this study included 115 small businesses
selling food and consumer products. According to the results of this study, the
mean of people-oriented management and technology-oriented management was 3.72
and 3.71, respectively, while the organizational asset had the highest mean of
3.73 and the firm retention had a low mean of 3.53. From these means, it can be
concluded that the business administration during
the COVID-19 pandemic must consider technology-oriented management and people-oriented management to strengthen
organizational asset and support firm retention and stability.