The Development of Business Management Model in the High Precision Cutting Tools Industry

Abstract

The objectives of the study in the high precision cutting tools industry are: 1) To study the components of business management. 2) To establish a business model. 3) To prepare a guide for industrial business management. The research process is divided into 3 steps as follows: Step (1) A study of the components of business management including theories, business processes, knowledge management and concerned thesis. Step (2) Establishing a Business Management Model by (2.1) Qualitative In-Depth Interview with experts. (2.2) Quantitative data collection by using a questionnaire with entrepreneurs. (2.3) Prepare a draft business management model. (2.4) Focus group by review draft and provide critical analysis. Step (3) The preparation of the business guide are (3.1) Prepare a draft of the guide. (3.2) Distribute the handbook to experts to evaluate appropriateness. The populations in the study are entrepreneurs in Thailand. Mean and standard deviation is expressed in percentages. The results of the research are as follows: 1) Components of Industrial Business Management consists of 3 dimension : (1.1) Entrepreneur (1.2) Process and (1.3) Technology. 2) Business Model consists of 3 main components and 12 sub-elements 2.1) Entrepreneurial dimension consists of 5 sub elements:- Personal Mastery, Mental Model, Shared Vision, Team Learning, and Systematic Thinking. 2.2) Process dimension consists of 4 sub elements : Planning, Organizing, Leading, and Controlling. 2.3) Technology dimension consists of 3 sub elements of Innovation are Product, Technology, and Management and 3) Business Management Guide use for as a guide by entrepreneurs to ensure sustainable growth and to be competitive in this market