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Journal of Research Methodology, Volume 29, Number 1 (January-April 2016)
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Email: [email protected]
37
Journal of Research Methodology, Volume 29, Number 1 (January-April 2016)
•Ÿ‘˜Ÿ‘•¡Š¢•¡‰ŸwŸ‘•¡}žŒ`‰¢²~‹ž‹‰¢²w‘Ÿzª—ŸÙ
The Empirical Study of Factors Affecting the Success of Social
Enterprise on Marketing and Social Performances
Siripak Mattavanont1
Guntalee Ruenrom2
ABSTRACT
This study is the first empirical research conducted in Thailand to examine the performance of
social enterprise (SE) through the involving internal and external factors. The objectives of this study are
twofold: (1) to discover how the internal and the external factors affecting the success of SE performance
and (2) to investigate how marketing and social performances associated with SE performance.
The internal factors were social mission, value-based leadership, shared vision, and customer
orientation. The external factors were perceived environmental uncertainty and relationship with external
organizations. These six variables were based on integrating four theories, i.e. institutional theory, resourcebased view theory, social capital theory and contingency theory. Six SE executives were interviewed to explore
the key success factors related to SE performance. Questionnaire were developed and pretested,
then mailed to 1,450 SEs that were listed in Thai Social Enterprise Office (TSEO). The 300 completed
questionnaire returned were from agricultural industry (50.3%), retails (23.7%), food and beverages (14.3%)
and the rest were from finance, health care, tourists, education and others.
The data was analyzed using SEM-PLS path modeling. The reliability and construct validity
were assessed through measurement model. The results of structural model showed that all variables had
significant and positive impacts on SE performance i.e. social mission (ȕ = 0.09, p < 0.05), value-based
leadership (ȕ = 0.10, p < 0.01), shared vision (ȕ = 0.17, p < 0.01), customer orientation (ȕ = 0.23, p < 0.01),
relationship with external organizations (ȕ = 0.19, p < 0.01), and perceived environmental uncertainty
(ȕ = 0.11, p < 0.05). These variables explained 45% of SE performance. The results of second order construct
also revealed that SE performance was strongly associated with marketing performance (ȕ = 0.92, p < 0.01),
and social performance (ȕ = 0.92, p < 0.01), R2 = 0.85.
The study provided theoretical and managerial contributions to academicians and executives to
better understand the factors affecting SE performances in order to formulate effective marketing strategies
for SEs.
Keywords: Social enterprise, social enterprise performance, marketing performance, social performance
1 Corresponding
Author, Ph.D. Candidate, Department of Marketing, Chulalongkorn Business School,
Chulalongorn University, Bangkok 10330. Email: [email protected]
2 Department of Marketing, Chulalaongkorn Business School, Chulalongkorn University, Bangkok
10330. Email: [email protected]
38
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
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social enterprise may generate excess earnings, these earnings are typically reinvested
in the social activity rather than distributed to owners or shareholders (Department of
Trade and Industry, 2002). Thus, the social enterprise can be viewed as an entity
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Social enterprise receives an increasing interest in academic research (Lepoutre
FUBM-VNQLJOFUBM., 2013). To date, much of the research on social enterprise
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factors that contribute to the success of the social enterprise and factors that affect the
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performance factors of social enterprise. While there is ample research in understanding
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measures for social enterprise performance. Less research has been done in this area.
Therefore, how marketing and social performances can explain the social enterprise
performance is worth to be explored.
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social enterprise performance.
39
◆
The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
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social enterprise performance.
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The study is based on four interrelated theories that address different dimensions
of SE performance. These theories are institutional theory, resource-based view,
contingency theory and social capital theory. These theories demonstrate that the
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40
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
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the industrial or social context. For this aspect of performance, the contingency theory
can be of use.
The contingency theory relates to external conditions and environment that a
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all related to the conditions of the social enterprise at an organizational level. However,
none of these three theories address the people which are very critical to the success of
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as individual, community, and society (Russkanen, 2001). Elements of social capital
include individual skill, resources and attitudes, community norms and social networks,
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communication between individuals and groups. Additionally, it results in improved
collaboration, facilitation, and coordination between individuals and groups (Russkanen,
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The conceptual framework combines internal factors (social mission, value-based
leadership, shared vision, and customer orientation) and external factors (perceived
environmental uncertainty and relationship with external organizations) affecting social
enterprise performances which can be measured through social and marketing performances.
41
◆
The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
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improving economic opportunity for women or providing mental health services
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activity that is socially positive and undertaking a real need in an appropriate way
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contribute to legitimacy that is undertaking a legitimate activity and perceptions of
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insight is derived from social capital theory which addresses the need for shared vision
and coordinated action in order to achieve organizational goals (Russkanen, 2001),
42
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
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$VTUPNFSPSJFOUBUJPOSFMBUFTUPUIF3#7BTJUJTBTUSBUFHJDBQQSPBDIBCPVU
IPXUPNFFUDVTUPNFSOFFET"QQJBO"EV4JOHI%FTIQBOEFFUBM
-FWJUU " ÇSNkT BCJMJUZ UP FGGFDUJWFMZ VTF DVTUPNFS JOGPSNBUJPO QSFWBJMT
DPNQFUJUJWFBEWBOUBHFJOUIFNBSLFU#BSOFZ
5IVTDVTUPNFSPSJFOUBUJPOTIPXT
IPXXFMMBÇSNDBONFFUJUTTPDJBMHPBMTBOEUPNBJOUBJOJUTFDPOPNJDQFSGPSNBODF
BOETVTUBJOBCJMJUZ$PCVSO3JKTEJKL8FQQFO$PDISBOF
5IFGPVSUI
hypothesis is stated:
)$VTUPNFSPSJFOUBUJPOIBTBQPTJUJWFJOÈVFODFPOTPDJBMFOUFSQSJTF
QFSGPSNBODQFSGPSNBODF
3FMBUJPOTIJQXJUIFYUFSOBMPSHBOJ[BUJPOT
3FMBUJPOTIJQXJUIFYUFSOBMPSHBOJ[BUJPOJNQMJFTUIFQPTJUJPOPG4&%BSU
JOUIFNBSLFUUIBUBÇSNDBOESBXGPSDPPQFSBUJPOFYUSBSFTPVSDFTBOEEFWFMPQNFOU
-JOEFOCFSH3PTUJMB
*OUFSPSHBOJ[BUJPOBMSFMBUJPOTIJQTDBOCFDPODFQUVBMJ[FE
BTPSHBOJ[BUJPOBMMFWFMCPOETXIJDIFOBCMFPSHBOJ[BUJPOTUPESBXPOFBDIPUIFSkT
SFTPVSDFT)BLBOTTPO4OFIPUB
4PDJBMFOUFSQSJTFTDBOVTFFYUFSOBMSFMBUJPOTIJQT
GPSDBQBDJUZCVJMEJOHDPNNVOJUZEFWFMPQNFOUBOEDPPQFSBUJWFBDUJWJUJFT"VTUJO
Campbell-Hunt, Freeman and Dickson, 2010), as well as to learn about the environment
BOEEFBMXJUIFOWJSPONFOUBMVODFSUBJOUZ$IFX.B[[BSPM-JNOJPT3FCPVE
5IVTUIFÇGUIIZQPUIFTJTJT
)3FMBUJPOTIJQXJUIFYUFSOBMPSHBOJ[BUJPOTIBTBQPTJUJWFJOÈVFODFPO
TPDJBMFOUFSQSJTFQFSGPSNBODF
43
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The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
1FSDFJWFEFOWJSPONFOUBMVODFSUBJOUZ
1FSDFJWFEFOWJSPONFOUBMVODFSUBJOUZSFGFSTUPBÇSNkTBCJMJUZUPQFSDFJWFE
uncertainty of environment where the organization is. The environment includes
customer, competitor, technology sectors, and state of dynamism it is facing. It is
EFSJWFEGSPNDPOUJOHFODZUIFPSZ%PXOFZ4MPDVN%VODBO)JDLTPO
FU BM 4DINJEU $VNNJOHT )PX UIF ÇSN SFTQPOET UP QFSDFJWFE
environmental uncertainty will determine strategic success in the market (Fredericks,
5IVTUIFTJYUIIZQPUIFTJTJT
)1FSDFJWFEFOWJSPONFOUBMVODFSUBJOUZIBTBOJOÈVFODFPOTPDJBMFOUFSQSJTF
QFSGPSNBODF
.BSLFUJOHQFSGPSNBODF
.BSLFUJOHQFSGPSNBODFTUSPOHMZSFMBUFTUPUIFÇOBODJBMTVTUBJOBCJMJUZPGB
ÇSN'JHHF4BM[NBOOFUBM
4&TTUJMMOFFEUPHFOFSBUFSFWFOVFUPDPQF
up with its expenses so that the earnings excess can be used to facilitate its operation
to achieve the social mission. Therefore SE performance and marketing performance
should be related. The hypothesis is stated:
)4PDJBMFOUFSQSJTFQFSGPSNBODFIBTBQPTJUJWFSFMBUJPOTIJQXJUINBSLFUJOH
QFSGPSNBODF
4PDJBMQFSGPSNBODF
Social performance is an integral measure of the economic, social, and
FOWJSPONFOUBMQFSGPSNBODFPGUIF4&kTBDUJWJUJFTJOTIPSUBOEMPOHUFSNT.PSJ
Christodoulou, 2011). SE performance also needs to take into account the needs of
various stakeholders, including service providers, clients, governments, etc. (Brignall
.PEFMM
6OEFSJOTUJUVUJPOBMUIFPSZTPDJBMQFSGPSNBODFPSUIFFGGFDUJWFOFTT
PGUIFTPDJBMFOUFSQSJTFkTVOEFSUBLJOHPGJUTTFMFDUFETPDJBMSPMFJTJUTNBJOTPVSDFPG
MFHJUJNBDZ)BOEFMNBO"SOPME
5IVT)JTTUBUFE
)4PDJBMFOUFSQSJTFQFSGPSNBODFIBTBQPTJUJWFSFMBUJPOTIJQXJUITPDJBM
QFSGPSNBODF
44
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
'JHVSF Conceptual framework and hypotheses
3FTFBSDINFUIPEPMPHZ
The research combines both qualitative and quantitative studies to develop
research instrument for data collection. Then, the data from completed and returned
questionnaire were analyzed using SPSS and SEM - PLS.
1PQVMBUJPOTBNQMJOHNFUIPEBOETBNQMFTJ[F
The targeted population was SE currently registered and operating in Thailand
BUUIFUJNFPGUIFTUVEZ
$BOEJEBUFTXFSFESBXOGSPNUIFSFHJTUSBUJPOMJTUTPG
UIF5IBJ4PDJBM&OUFSQSJTF0èDF54&0
XIJDIMJTUFEPWFS4&T5IFTJNQMF
SBOEPNTBNQMJOHXBTVTFEBOEUIFNJOJNVNTBNQMFTJ[FXBTCBTFEPOBSBUJP
PGUPQBSUJDJQBOUTBOEFTUJNBUFEQBSBNFUFST)BJSFUBM
$POTFSWBUJWFMZ
BTTVNJOHBSFTQPOTFSBUFPGUIFSFTFBSDIFSSBOEPNMZTFMFDUFEQBSUJDJQBOUTGPS
UIFÇSTUSPVOEPGTBNQMJOH5IFDPNQMFUFERVFTUJPOOBJSFSFUVSOFEXBTSFQSFTFOUFE
a 20.7% response rate and was slightly higher than the estimated response rate.
45
◆
The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
3FTFBSDIJOTUSVNFOU
5IF RVFTUJPOOBJSF XBT EFTJHOFE UP DPOUBJO GPVS TFDUJPOT 3FTQPOEFOU
JOGPSNBUJPOJODMVEJOHOBNFQPTJUJPOBOEDPOUBDU
$PNQBOZkTQSPÇMFJODMVEJOHUZQF
of social enterprise, number of employee, time of running social enterprise, and revenue.
*OUFSOBMBOEFYUFSOBMGBDUPSTBGGFDUJOHTPDJBMFOUFSQSJTFQFSGPSNBODFJUFNT
BOE
4PDJBMFOUFSQSJTFQFSGPSNBODFCPUINBSLFUJOHBOETPDJBMQFSGPSNBODFTJUFNT
8IJMFTFDUJPOTBOEXFSFDIFDLMJTUBOETIPSUBOTXFSTTFDUJPOTBOEXFSFNFBTVSFE
VTJOHBGPVSQPJOUBOEÇWFQPJOU-JLFSUTDBMFSFTQFDUJWFMZ
2VFTUJPOOBJSFBOENFBTVSFNFOUEFWFMPQNFOU
To ensure research instrument validity and reliability, the scales and questionOBJSFXFSFEFWFMPQFEJOGPVSTUFQTCBTFEPOSFDPNNFOEBUJPOTGSPN$IVSDIJMM
BOE#BHP[[J
1. The questionnaire was prepared by adapting constructs that obtained from
UIFJOUFOTJWFSFWJFXPGMJUFSBUVSFTBOEJOEFQUIJOUFSWJFXTXJUI4&ÇSNT
2. The questionnaire was reviewed by two marketing academicians and one
SE executive. Then, the questionnaire was revised according to their
feedbacks.
3. The questionnaire was initially designed in English, and then translated
to Thai and double-checked for translation quality using back translation
by three independent bilingual translators. After that, the questionnaire
XBTSFÇOFEBOEUFTUFEXJUIBUBSHFUQPQVMBUJPOUPFOTVSFBMMNFBTVSFNFOUT
and questions are clearly understood.
'JOBMMZ UIF RVFTUJPOOBJSF XBT DPOÇSNFE CZ QSFUFTUJOH XJUI 4&
executives and academicians to assess content validity and to ensure the
appropriateness of structure, languages, and measurement before sending
to all respondents. The results of IOC index rating from all experts are
above 0.7 for each part of questionnaire which higher than acceptable
OVNCFSPG3PWJOFMMJBOE)BNCMFUPO
5IVTUIFSFTVMUTTIPX
high degree of content validity.
46
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
5BCMF Constructs and Items
$POTUSVDU
*UFN
*OUFSOBM'BDUPST&YPHFOPVT-BUFOU7BSJBCMFT
Social
n'JSNTUBUFTDMFBSTPDJBMNJTTJPOUPXBSEPCKFDUJWFTPGTPDJBM
Mission (SM) enterprise
nFirm has strategic alignment to its social mission
n'JSNkTPQFSBUJPODPODFSOTQSPQFSUJFTJOTPDJBMNJTTJPOUP
ensure sustainable growth
7BMVF#BTFE nLeadership is virtuous and honest
nLeadership has ability to recognize resource opportunity
Leadership
7#-
(such as raw material, manpower, technology, etc)
nLeadership has ability to leverage resource opportunity
(such as raw material, manpower, technology, etc) and
DPOWFSUUIFSFTPVSDFUPÇSNkTPVUQVU
nLeadership has ability to communicate with employee and
others
Shared vision nFirm disseminates information about social enterprise
47
nAll staffs and units in the organization share the same
ambitions and visions
n&WFSZPOFGSFFMZDPOUSJCVUFIJTIFSQPJOUTPGWJFXBCPVU
how to run smoothly
n'JSNkTQSPEVDUTFSWJDFEFWFMPQNFOUJTCBTFEPOHPPE
Customer
market and customer information
Orientation
nFirm understands how customers value and have attitude
(CO)
towards its products
n'JSNkTPQFSBUJPODPODFSOTDVTUPNFSJOUFSFTUBOECFOFÇU
ahead of others
Relationship n.BOBHFNFOUIBTDMPTFEJOUFSBDUJPOXJUIPUIFS4&Tk
managements
with External
Organization nManagement receives a lot of information from other
executives within SE industry
(REO)
nManagement receives a lot of information from other
sources outside SE industry (such as other institution,
association, etc.)
47
4PVSDF
Dees, FUBM
(2002)
Alvarez and
#VTFOJU[
0k5PPMF
Aragon-Correa,
FUBM
Tsai and
(IPTIBM
+FIO
,XBLV
AthuatheneGima and
.BSSBZ
◆
The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
5BCMF Constructs and Items (cont.)
$POTUSVDU
*UFN
&YUFSOBM'BDUPST&YPHFOPVT-BUFOU7BSJBCMFT
n'JSNJTBXBSFPGVODFSUBJOUZPGDVTUPNFSTkEFNBOEPGJUT
Perceived
QSPEVDUTTFSWJDFT
Environment
nFirm is aware of uncertainty of competitor such as the
Uncertainty
number of competitors and their strategies
(PEU)
nFirm is aware of uncertainty of its related environment such
as change of rule and regulation, change of economics and
social factors
4PDJBMFOUFSQSJTFQFSGPSNBODFT&OEPHFOPVT-BUFOU7BSJBCMFT
nIn the past few years......
Marketing
Performance n'JSNkTSFWFOVFJODSFBTF
n'JSNVTFTSFTPVSDFNPSFFèDJFOUMZ
(MP)
nThe number of customer increase
nIn the past few years......
Social
Performance n'JSNBDIJFWFTJUTTPDJBMNJTTJPOXIJDIJOJUJBMMZEFÇOFE
nAll staffs and units are well responsible for their own
(SP)
tasks
4PVSDF
Downey, FUBM.,
Swamidass and
/FXFMM
Punthasen FUBM.
4BM[NBOO
Dow Jones
Sustainability
Index
%BUBDPMMFDUJPO
5IFJOEFQUIJOUFSWJFXTXJUIFYFDVUJWFTPG4&ÇSNTXFSFDPOEVDUFEUP
gain insights in order to develop the questionnaire further. The questionnaire was
distributed using a combination of postal mailing and telephone interviews. These two
techniques were selected because of available contact information from the TSEO, and
because not all participants could be expected to use Internet or email. Each of
UIFTFMFDUFEÇSNTXBTTFOUBQBDLBHFXJUIBDPWFSMFUUFSBOEBDPQZPGUIF
RVFTUJPOOBJSFJO0DUPCFS8JUIBUFMFQIPOFGPMMPXVQDPNQMFUFERVFTUJPOOBJSFT
SFUVSOFEJO%FDFNCFSXFSFVTFEGPSUIFEBUBBOBMZTJTXIJDIXBTBDDPVOUFEGPS
20.7% response rate.
48
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
%BUBBOBMZTJT
Data analysis was conducted using a structural equation modeling technique
JO4&.1-45IFTQFDJÇDUFDIOJRVFVTFEXBT8BSQ1-47FSTJPO
XIJDISFTVMUFE
JOB1-4QBUIBOBMZTJT5IFJOJUJBMBOBMZTJTJODMVEFEEFTDSJQUJWFTUBUJTUJDTSFMJBCJMJUZ
UFTUJOH$SPOCBDIkTBMQIB t$PNQPTJUFSFMJBCJMJUZ$3
BOEDPOWFSHFOU
BOEEJTDSJNJOBOUWBMJEJUZUFTUJOH"7&TRVBSFSPPUPG"7&JUTJOUFSDPOTUSVDU
DPSSFMBUJPO
(PSTVDI4UFNMFS5TBJ
5IFJOJUJBMUFTUTXFSFVTFEUP
identify issues with the data and determined what issues might have occurred in the
data. All scales passed the threshold measurements for reliability testing and convergent
and divergent validity testing. As a result, no further adaptations or changes to the
scales were needed.
Following initial analysis, Partial Least Squares (PLS) path analysis was
conducted. PLS path modeling is a technique for analyzing linear multivariable relationships, including both observed and latent variables (Sanchez, 2013). This technique
offers a number of advantages for testing conceptual models and frameworks (Sanchez,
2013). PLS path modeling uses two distinct models, including a structural model (which
measures relationships of latent variables) and a measurement model (which relates
NFBTVSFEWBSJBCMFTBOEMBUFOUWBSJBCMFT
5FOFOIBVT7JO[J$IBUFMJO-BVSP
Causality is measured within the model using single linear regressions equating the
various measured and latent variables using a PLS algorithm. PLS is particularly
VTFGVMXIFOBIJHIMZÈFYJCMFBQQSPBDIUPNPEFMJOHBOEBOBMZTJTPGNVMUJQMFUBCMFTBT
JUBMMPXTTNBMMTBNQMFTJ[FBOEOPOOPSNBMJUZPGEBUB5FOFOIBVT7JO[J$IBUFMJO
-BVSP
5IJTUFDIOJRVFJTDIPTFOCFDBVTFJUJTFèDJFOUMZTVJUBCMFGPSQSFEJDUJPO
for analyzing complex model such as second order construct model, and when the
SFTFBSDINPEFMJTJOBOFBSMZTUBHFPGEFWFMPQNFOU;IVFUBM
5IVTUIFEBUB
analysis was completed by SPSS and WarpPLS programs.
49
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The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
3FTVMUT
3FTVMUTPGUIFEFTDSJQUJWFBOBMZTJT
5IFUPUBMTBNQMFTJ[FXBT5IFNBKPSJUZPGTVSWFZTXFSFDPNQMFUFECZ
UIF$IBJSNBOPGDPNQBOJFT
NPTUSFTQPOEFOUTIPMEB#BDIFMPSEFHSFFPS
MPXFS
PGBMMSFTQPOEFOUTIBWFZFBSTXPSLJOHFYQFSJFODFT
The social enterprises represented in the study were engaged in a number
PGJOEVTUSJFT5IFNPTUDPNNPOJOEVTUSJFTJODMVEFE"HSJDVMUVSF
3FUBJM
BOE'PPEBOE#FWFSBHF
.PTUÇSNTBSFSFMBUJWFMZOFXXFSFDMBTTJÇFEBT
TNBMMÇSNTJO5IBJMBOEMFTTUIBOFNQMPZFFT
IBWJOHCFFOFTUBCMJTIFEJOUIFMBTU
ÇWFZFBST
BOEIBWFBOOVBMSFWFOVFTMFTTUIBONJMMJPO#BIU As shown in
5BCMFNFBOTPGBMMMBUFOUWBSJBCMFTXFSFDMPTFSBOHJOHGSPNUPPVUPG
BOE4%SBOHFEGSPNUP
5BCMFDescriptive statistics of performance factor constructs
5IFBUUJUVEFBGGFDUJOHPGGBDUPSTUIF
DPNQBOZkTPQFSBUJPOT
Social Mission
7BMVF#BTFE-FBEFSTIJQ
4IBSFE7JTJPO
Customer Orientation
Relationship with External Organizations
Perceived Environment Uncertainty
0WFSBMM
M
SD
*OUFSQSFUBUJPO
3BOL
3.31
0.41
Strongly Agree
Strongly Agree
Strongly Agree
Strongly Agree
Agree
Agree
4USPOHMZ"HSFF
3
1
2
5IF.FBTVSFNFOU.PEFMPG4PDJBM&OUFSQSJTF1FSGPSNBODF
5IFSFTVMUTDPOÇSNFEUIBUBMMDPOTUSVDUTIBEBDDFQUBCMFNFBTVSFNFOUQSPQFSUZ
on both reliability and validity. Table 3 shows the results of all factor loadings which
FYDFFE WBMVF PG )VMMBOE JOEJDBUJOH UIBU WBSJBODFT JO FBDI JOEJDBUPS
are explained by their underlying variables. Furthermore, all latent constructs have
50
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
$SPOCBDIkTBMQIBTBCPWF/VOOBMMZ
XIJDIJOEJDBUFTUIFDPOTUSVDUWBMJEJUZ
Furthermore, all latent variables also show high internal consistency of indicators
NFBTVSJOHJOEJWJEVBMDPOTUSVDUT$3
5BCMFResults summary of measurement model
-BUFOU
7BSJBCMF
SM
7#-
47
CO
3&0
PEU
SEP
MP
SP
0VUFS
-PBEJOHT
SM1
0.77
SM2
SM3
0.73
7#-
7#-
7#-
7#-
0.72
47
47
47
0.77
CO1
CO2
CO3
REO1
REO2
REO3
PEU1
PEU2
PEU3
Second-order construct
MP1
MP2
MP3
SP1
SP2
$SPOCBDIkT
"MQIBT
0.73
*OEJDBUPST
51
$PNQPTJUF
3FMJBCJMJUZ
0.73
0.72
0.71
0.70
"7&
◆
The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
5PDPOÇSNDPOTUSVDUWBMJEJUZUIFDPOWFSHFOUWBMJEJUZJTDPOÇSNFECZUIF
SFTVMUTPG"7&UBCMF
XIJDIFYDFFEUISFTIPMEWBMVFPGGPSBMMWBSJBCMFT
'PSOFMMBOE-BSDLFS
3FTVMUTGSPN5BCMFTIPXUIBUTRVBSFSPPUPG"7&GPS
FBDIDPOTUSVDUXFSFIJHIFSUIBOUIFDPSSFTQPOEJOHJOUFSDPOTUSVDU5IJTDPOÇSNTUIBU
each latent variables shares more variance with its own measurement variables that
XJUIPUIFSDPOTUSVDUTJOPUIFSXPSEUIFEJTDSJNJOBOUWBMJEJUZJTDPOÇSNFE
5BCMF*OUFSDPOTUSVDUDPSSFMBUJPONBUSJYXJUITRVBSFSPPUTPG"7&T
Construct
SM
7#47
CO
REO
PEU
SEP
MP
SP
SM
7#-
Cross Construct Correlation
47
CO
REO PEU SEP
MP
SP
0.70
/PUF4RVBSFSPPUTPG"7&TBSFQSFTFOUFEPOUIFEJBHPOBM$POTUSVDUDPSSFMBUJPOTBSF
TIPXOCFMPXUIFEJBHPOBM
5IF4USVDUVSBM.PEFMPG4PDJBM&OUFSQSJTF1FSGPSNBODF
5IFTUSVDUVSBMNPEFMXBTBTTFTTFECZFYBNJOJOHQBUIDPFèDJFOUTBOEUIFJS
TJHOJÇDBODFMFWFMT5IFFYQMBOBUPSZQPXFSPGBTUSVDUVSBMNPEFMXBTFWBMVBUFECZ
examining R2 value of the SE performance and the results are shown in Figure 2 and
5BCMF
52
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
'JHVSF Result of structural Model
5BCMFHypotheses Testing Results
)ZQPUIFTJT
H1: SM Æ SEP
)7#-Æ SEP
)47Æ SEP
)47Æ SEP
)3&0Æ SEP
)1&6Æ SEP
H7: SEP Æ MP
)4&1Æ SP
R2 of SEP
R2 of MP
R2 of SP
$PFèDJFOU
&TUJNBUFȕ)
0.10
0.17
0.23
0.11
53
Q7BMVF
)ZQPUIFTJT3FTVMU
<0.01
<0.01
<0.01
<0.01
<0.01
<0.01
Support
Support
Support
Support
Support
Support
Support
Support
◆
The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
First is to assess whether the relationships in the structural model are
TUBUJTUJDBMMZTJHOJÇDBOU&YBNJOBUJPOPGPCTFSWFEWBSJBCMFTDPOUSJCVUJOHUP4&1TIPX
UIBUBMMWBSJBCMFTFYDFQU4.NFFUTUIFTUBOEBSEQPSQDSJUFSJBGPS
TUBUJTUJDBMTJHOJÇDBODF8IJMF4.BOE1&6IBWFTJHOJÇDBOUSFMBUJPOTIJQTUP4&1BU
UIFTJHOJÇDBODFMFWFM7#-47$0BOE3&0IBWFTJHOJÇDBOUSFMBUJPOTIJQTUP
4&1BUUIFTJHOJÇDBODFMFWFM4&1BMTPIBTBTJHOJÇDBOUSFMBUJPOTIJQUPCPUI.1
BOE41Q
BUXIJDIDPOÇSNFETFDPOEPSEFSDPOTUSVDUT
Strength and direction of relationships is indicated by the E terms and vectors
BSSPXT
GPSFBDISFMBUJPOTIJQ5IFTUBOEBSEJ[FEQBUIDPFèDJFOUTSBOHFGSPNUP
BOESFMBUJPOTIJQEJSFDUJPOTBSFQPTJUJWFBTQSFEJDUFE8IJMFUIFQBUIDPFèDJFOUTPG
second order are very strong (E
UIPTFGPSDPOUSJCVUPSTUP4&1BSFSFMBUJWFMZ
weak (EUP E = 0.23). However, this does not necessarily indicate a weak
SFMBUJPOTIJQPSPOFUIBUTIPVMECFEJTDBSEFE4BODIF[
5IFQBUIDPFèDJFOUTPG
SEP->MP and SEP->SP (E
BSFWFSZTUSPOH
The R2DPFèDJFOUTPGDPSSFMBUJPOGPSPCTFSWFEWBSJBCMFT.132
and SP (R2
DBOCFDPOTJEFSFEBTHPPEUPFYDFQUJPOBMCBTFEPOTUBOEBSE
regression and PLS path modeling standards (Sanchez, 2013) while the result of R2
DPFèDJFOUPG4&1XIJDITIPXTJOEJDBUFTFYQMBOBUPSZQPXFSUPTPDJBMFOUFSQSJTF
performance is relatively good (Sanchez, 2013).
In summary, all of the relationships proposed in the model are statistically
TJHOJÇDBOUXIJDIJOEJDBUFQPTJUJWFSFMBUJPOTIJQTBTIZQPUIFTJ[FE5IVTBMMIZQPUIFTFT
are supported.
%JTDVTTJPO
In summary, the PLS path model demonstrated that the research model for this
study (Figure 1) represents the structural relationships of latent and observed variables
JOUIFTBNQMF"MMPGUIFSFMBUJPOTIJQTGPSUIJTTUVEZXFSFTJHOJÇDBOUBOEIBEQPTJUJWF
relationship.
)TUBUFEUIBUUIFTPDJBMNJTTJPOXPVMEIBWFBQPTJUJWFJOÈVFODFPOUIFTPDJBM
FOUFSQSJTFkTQFSGPSNBODF5IJTIZQPUIFTJTXBTTVQQPSUFEBOEJUJTDMFBSUIBUNJTTJPOPG
54
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
UIFÇSNJTJNQPSUBOUBTJUSFÈFDUTIPXBÇSNXPVMEPSHBOJ[FBOEPQFSBUF*OBEEJUJPO
JUBMMPXTPUIFSTUPVOEFSTUBOEBOETVQQPSUUIFÇSN4POOJOP%SJHHTo5SFWBSUIFO
*OPUIFSXPSETPDJBMNJTTJPOEPFTOPUPOMZIFMQBMJHOPSHBOJ[BUJPOkTNJTTJPO
XJUIJUTTUSBUFHZBMTPJUHVJEFUIFNFNCFSkTFGGFDUJWFQBSUJDJQBUJPO5IFSFGPSFQFSGPSNBODF
PGUIFFOUFSQSJTFUFOETUPCFJNQSPWFE(MJFEUBOE1BSLFS.PTFLBOE(JMMJO
$PCVSOBOE3JKTEJKL
In H2, we posited that value-based leadership would also positively affect
TPDJBMFOUFSQSJTFQFSGPSNBODF5IJTIZQPUIFTJTXBTOPUSFKFDUFEBOEUIFSFBTPOGPSJU
is clear from the literature. The importance of value-based leadership was mentioned
VOEFSUIF3#7BOEIBTCFFOGPVOEUPCFTJHOJÇDBOUJOTFWFSBMQSFWJPVTTUVEJFT'SZ
.BUIFSMZ-JV'V8V
5IVTJUXBTOPUTVSQSJTJOHUIBUWBMVFCBTFE
MFBEFSTIJQXBTTJHOJÇDBOUGPSUIJTTUVEZ7BMVFCBTFEMFBEFSTIJQDPVMEBMTPJOÈVFODF
other factors, such as customer orientation (a key strategy) and perceived environmental
uncertainty (related to information asymmetries and response). Thus, even though it
EJEOPUIBWFUIFIJHIFTUQBUIDPFèDJFOUUIFWBMVFCBTFEMFBEFSTIJQDPNQPOFOUDPVME
be the most important factor in social enterprise performance.
H3 addressed the importance of shared vision for social enterprise performance.
H3 was accepted as well. While value-based leadership is clearly important, it would
not be effective without a shared vision or common goals, which serves as both an
organizational resource and an important factor in the formation and maintenance of
SFMBUJPOTIJQTVOEFSTPDJBMDBQJUBMUIFPSZ$IPX$IBO)BSU3VTTLBOFO
2001). Simply, the shared vision provides the glue of the organization, creating
relationships and shared ideas about the purpose of the organization and its goals. This
GBDUPSDPVMEQPUFOUJBMMZJOUFSBDUXJUIUIFTPDJBMNJTTJPOBTJUNBZCFOPUUIFTQFDJÇD
social mission per se, but the shared vision of the organization members toward the
social mission, which determines success. This type of indirect relationship was not
tested here, but could be tested in further studies of social enterprise.
*O)JUXBTQSPQPTFEUIBUDVTUPNFSPSJFOUBUJPOXPVMEQPTJUJWFMZJOÈVFODF
TPDJBMFOUFSQSJTFQFSGPSNBODF)XBTBMTPBDDFQUFEBOEIFSFUPPJUJTDMFBSUIBUUIFSF
are some potential interactions with other factors. This is consistent with the literature,
55
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The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
which suggests that customer orientation is one of the critical factors in the success of
TPDJBMFOUFSQSJTFTBOEQVCMJDNBOBHFNFOUBDUJWJUJFT)POH$IP3PE"TIJMM
4SJEIBSBO7JTXBOBUIBO.BSLFUJOHJOTVCTJTUFODFNBSLFUQMBDFT$POTVNQUJPO
BOEFOUSFQSFOFVSTIJQJOB4PVUI*OEJBODPOUFYU
*UJTBMTPDPOTJTUFOUXJUIUIF
QSJODJQMFTPGUIF3#7XIJDITUBUFUIBUUIFÇSNkTBCJMJUZUPJEFOUJGZBOENFFUDVTUPNFS
EFNBOEJTBTJHOJÇDBOUSFTPVSDF"QQJBO"EV4JOHI%FTIQBOEFFUBM
-FWJUU
5IFSFNBZBMTPCFTJNJMBSSFMBUJPOTIJQTCFUXFFODVTUPNFSPSJFOUBUJPO
and perceived environmental uncertainty, since customer orientation is a strategic tool
UPDPMMFDUJOGPSNBUJPOBCPVUDVTUPNFSTBOEVTFUIJTJOGPSNBUJPOJOUIFPSHBOJ[BUJPOkT
BDUJWJUJFTUPNFFUUIFJSOFFET"QQJBO"EV4JOHI%FTIQBOEFFUBM
-FWJUU $PMMFDUJOH TVDI JOGPSNBUJPO JT POF XBZ PG SFEVDFE FOWJSPONFOUBM
VODFSUBJOUZBOEGPSNVMBUJOHJNQSPWFESFTQPOTFTUPJU5BZMPS#PHEBO.JMMJLFO
)BSHVFEUIBUSFMBUJPOTIJQTXJUIFYUFSOBMPSHBOJ[BUJPOTXPVMEJOÈVFODFTPDJBM
enterprise performance. This hypothesis was also accepted, as predicted by social
DBQJUBMUIFPSZBOEJOTUJUVUJPOBMUIFPSZ%BSU-JOEFOCFSH3PTUJMB
5IFPSFUJDBMMZUIFÇSNkTSFMBUJPOTIJQTXJUIFYUFSOBMPSHBOJ[BUJPOTSFQSFTFOUCPUIFYUFSOBM
social capital it can draw on and its institutional role and legitimacy. Relationships
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UIFSFTPVSDFTJUIBTBWBJMBCMFUPJU$IBMNCFST#BMBO7OVL
5IFMJUFSBUVSF
TIPXTUIBUUIFSFNBZCFTPNFTJHOJÇDBOUJOUFSBDUJPOTXJUIPUIFSGBDUPST'PSFYBNQMF
interorganizational relationships can help reduce uncertainty by increasing organizational
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)PXFWFSDBSFTIPVME
CFUBLFOJOJOUFSQSFUJOHUIJTÇOEJOHTJODFJUJTOPUUIFDBTFUIBUFYUFSOBMPSHBOJ[BUJPOT
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.D,FF
'JOBMMZ)TUBUFEUIBUQFSDFJWFEFOWJSPONFOUBMVODFSUBJOUZXPVMEJOÈVFODF
TPDJBMFOUFSQSJTFQFSGPSNBODF5IJTÇOBMIZQPUIFTJTXBTBDDFQUFEBTQSFEJDUFECZUIF
QSFWJPVTMJUFSBUVSFPOUIFFYUFSOBMFOWJSPONFOUBOEDPOUJOHFODZUIFPSZ%PXOFZ
4MPDVN%VODBO)JDLTPOFUBM4DINJEU$VNNJOHT
56
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Siripak Mattavanont and Guntalee Ruenrom
◆
Previous literature has suggested that social enterprises may be effective at adapting
UPFOWJSPONFOUBMVODFSUBJOUZCFDBVTFUIFZDBOVTFFGGFDUVBUJPOPSJEFOUJÇDBUJPOPG
EJGGFSFOUQBUITBOESFTQPOTFUPVODFSUBJOUZGSFFEGSPNUIFEFNBOETPGQSPÇUNBLJOH
%J%PNFOJDP)BVHI5SBDFZ
4PDJBMFOUFSQSJTFNBZFWFOFNFSHFGSPN
conditions of environmental uncertainty, particularly in areas that are not government
or market-oriented activities (Smith, 2010).
Overall, the proposed model was effective at demonstrating the relationships
CFUXFFOUIFNBJODPOTUSVDUTBOEUIFPVUDPNFWBSJBCMFT5IFÇOEJOHTXFSFHFOFSBMMZ
in line with the literature on social enterprise and the underlying theories that relate
UPJUTVDIBTJOTUJUVUJPOBMUIFPSZUIF3#7TPDJBMDBQJUBMBOEDPOUJOHFODZUIFPSZ"O
area that was not tested was interrelationships between constructs, although the internal
DPSSFMBUJPOT5BCMF
TVHHFTUFEUIBUUIFTFDPVMECFTJHOJÇDBOU5IJTSFNBJOTBOBSFB
for future research.
$POUSJCVUJPOT
5IFPSFUJDBMDPOUSJCVUJPO
4JODFUIJTTUVEZJTUIFÇSTUFNQJSJDBMSFTFBSDIDPOEVDUFEJO5IBJMBOEUP
examine SE performance, it is the development of a holistic theoretical that incorporates
BTQFDUTPGJOTUJUVUJPOBMUIFPSZUIF3#7DPOUJOHFODZUIFPSZBOETPDJBMDBQJUBMUIFPSZ
The research has not only demonstrates that all of these theoretical perspectives have
validity, also shown that a multi-dimensional perspective on social enterprise is
effective. This helps to further develop the literature on social enterprise, which does
have some gaps in understanding how SE effectiveness can be assessed.
.BOBHFSJBMDPOUSJCVUJPO
The results provide SE executives with better understanding of social enterprise
and what need to consider when establishing a social purpose and strategy and resource
VUJMJ[BUJPOGPSGVMÇMMJOHUIBUQVSQPTF5PQUISFFJUFNTQMBZJOHTJHOJÇDBOUSPMFTBGGFDUJOH
4& QFSGPSNBODFT EFÇOFE CZ ÇOBODJBM BOEPS JOEJDBUPST BSF DVTUPNFS PSJFOUBUJPO
SFMBUJPOTIJQXJUIFYUFSOBMPSHBOJ[BUJPOTBOETIBSFEWJTJPO5IVTÇSNTIPVMEDPOTJEFS
57
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The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
customer value creation when formulating the marketing strategy. By doing so,
DVTUPNFSkTEFNBOEBOEUIFJSBUUJUVEFUPXBSETÇSNkTQSPEVDUTBOETFSWJDFTTIPVMECF
assessed.
In addition, Thailand is considered collectivism, executives should have a good
relationship with other organizations since it serves as a good source of information
BOEOFUXPSLUPIFMQBÇSNUPFYFNQMJGZTUSBUFHJDPQUJPOTBOEEFDJTJPONBLJOH*O
PSEFSUPFèDJFOUMZPQFSBUFFYFDVUJWFTTIPVMEFODPVSBHFBMMTUBGGTBOEVOJUTUPIBWF
trust and motivation to achieve the common goals.
-JNJUBUJPOTBOESFDPNNFOEBUJPOTGPS'VUVSF3FTFBSDI
Since most SEs in Thailand are in an early stage of development, further study
with more sophisticated model could be explored in order to gain deeper understanding
about SE. We can comprehend that the future model of SE could be expanded to
second order for the antecedents which might potentially have stronger impact on the
SE performance.
In addition, future research could explore the SE model for some particular
JOEVTUSJFTTVDIBTBHSJDVMUVSBMSFUBJMPSÇOBODJBMJOEVTUSJFTCFDBVTFEJGGFSFOUJOEVTUSJFT
could have different characteristics in their organizational culture. By undertaking
research in this area, it will expand the frontier of knowledge for researchers and
practitioners to understand more about SE performance.
3FGFSFODFT
"MWBSF[4"#VTFOJU[-8
5IF&OUSFQSFOFVSTIJQPG3FTPVSDFCBTFE
Theory. +PVSOBMPG.BOBHFNFOU
"QQJBI"EV,4JOHI4
$VTUPNFSPSJFOUBUJPOBOEQFSGPSNBODF"TUVEZ
of SMEs. .BOBHFNFOU%FDJTJPO
AragóO$PSSFB+")VSUBEP5PSSFT/4IBSNB4(BSD·B.PSBMFT7+
&OWJSPONFOUBM TUSBUFHZ BOE QFSGPSNBODF JO TNBMM ÇSNT " SFTPVSDFCBTFE
perspective. +PVSOBMPGFOWJSPONFOUBMNBOBHFNFOU, "UVBIFOBHJNB,.VSSBZ+:
"OUFDFEFOUTBOEPVUDPNFTPGNBSLFUJOH
strategy comprehensiveness. +PVSOBMPG.BSLFUJOH
58
◆
Siripak Mattavanont and Guntalee Ruenrom
◆
"VTUJO + & 4USBUFHJD DPMMBCPSBUJPO CFUXFFO OPOQSPÇUT BOE CVTJOFTT
/POQSPÇUBOE7PMVOUBSZ4FDUPS2VBSUFSMZ, #BSOFZ+
'JSN3FTPVSDFTBOE4VTUBJOFE$PNQFUJUJWF"EWBOUBHF+PVSOBMPG
.BOBHFNFOU
#VMM.
j#BMBODFk5IF%FWFMPQNFOUPGB4PDJBM&OUFSQSJTF#VTJOFTT1FSGPSNBODF
Analysis Tool. 4PDJBM&OUFSQSJTF+PVSOBM
$BNQCFMM)VOU%.'SFFNBO$%JDLTPO,+
$PNNVOJUZCBTFE
entrepreneurship and wildlife sanctuaries: Case studies from New Zealand.
*OUFSOBUJPOBM+PVSOBMPG*OOPWBUJPOBOE3FHJPOBM%FWFMPQNFOU, $IBMNCFST%.#BMBO7OVL&
*OOPWBUJOHOPUGPSQSPÇUTPDJBMWFOUVSFT
Exploring the microfoundations of internal and external absorptive capacity routines.
*OUFSOBUJPOBM4NBMM#VTJOFTT+PVSOBM
Chell, E. (2007). Social Enterprise and Entrepreneurship: Towards a Convergent
Theory of the Entrepreneurial Process. *OUFSOBUJPOBM4NBMM#VTJOFTT+PVSOBM
Chew, C. (2010). Strategic positioning and organizational adaptation in social enterprise
subsidiaries of voluntary organizations: An examination of community interest
companies with charitable origins. 1VCMJD.BOBHFNFOU3FWJFX, $IPX84$IBO-4
4PDJBMOFUXPSLTPDJBMUSVTUBOETIBSFEHPBMTJO
organizational knowledge sharing. *OGPSNBUJPO.BOBHFNFOU, $JDPVSFM"7
5IFSPMFPGDPHOJUJWFMJOHVJTUJDDPODFQUTJOVOEFSTUBOEJOH
everyday social interactions. "OOVBM3FWJFXPG4PDJPMPHZ
$PCVSO+3JKTEJKL3
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5ISJWJOH4PDJBM&OUFSQSJTFJO4DPUMBOE3FUSJFWFEGSPN$&%/FUXPSLIUUQ
XXXDFEOFUXPSLXFTUPSHO[$BDIF1JDUVSFT&[email protected]@[email protected]
factors.pdf
%BSU 3 5IF -FHJUJNBDZ PG 4PDJBM &OUFSQSJTF /POQSPÇU .BOBHFNFOU -FBEFSTIJQ
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Department of Trade and Industry, Departmental Report (2002): www.dti.gov.uk
59
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The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
Deshpandé 3 'BSMFZ + 6 8FCTUFS ' & +S $PSQPSBUF $VMUVSF
Customer Orientation, and Innovativeness in Japanese Firms: A Quadrad
Analysis. +PVSOBMPG.BSLFUJOH(1), 23-37.
%J%PNFOJDP.)BVHI)5SBDFZ1
4PDJBMCSJDPMBHF5IFPSJ[JOHTPDJBM
value creation in social enterprises. &OUSFQSFOFVSTIJQ 5IFPSZ BOE 1SBDUJDF
%PXOFZ),4MPDVN+8+S
&OWJSPONFOUBM6ODFSUBJOMZ5IF$POTUSVDU
and Its Application. "ENJOJTUSBUJWF4DJFODF2VBSUFSMZ %VODBO3#
$IBSBDUFSJTUJDTPG0SHBOJ[BUJPOBM&OWJSPONFOUTBOE1FSDFJWFE
Environmental Uncertainty. "ENJOJTUSBUJWF4DJFODF2VBSUFSMZ, 313-327.
%VOO"3JMFZ$"
4VQQPSUJOHUIF/PUGPS1SPÇU4FDUPSUIF(PWFSONFOUkT
Review of Charitable and Social Enterprise. 5IFNPEFSOMBXSFWJFX, 'FSOBOEF[3.$BTUJMMB&+.PPSF1
4PDJBMDBQJUBMBUXPSL/FUXPSLT
and employment at a phone center. "NFSJDBOKPVSOBMPGTPDJPMPHZ
Figge, F. (2002). .BOBHJOHCJPEJWFSTJUZDPSSFDUMZ&èDJFOUQPSUGPMJPNBOBHFNFOUBT
BOFGGFDUJWFXBZPGQSPUFDUJOHTQFDJFT(FSMJOH7FSTJDIFSVOHT#FUFJMJHVOHT"(
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5IFDPNQMFUFJEJPUkTHVJEFUPTVDDFTTBTBUFBDIFS. Alpha
Books.
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'BDUPSBOBMZTJT New York: Routledge.
(SBOU3.
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for Strategy Formulation. $BMJGPSOJB.BOBHFNFOU3FWJFX
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.VMUJWBSJBUFEBUBBOBMZTJT7PM
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Hall.
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Social Dimension: Appeals to the Institutional Environment. +PVSOBMPG.BSLFUJOH
60
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Siripak Mattavanont and Guntalee Ruenrom
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standardized methodology for measuring social entrepreneurship activity: the
Global Entrepreneurship Monitor social entrepreneurship study. 4NBMM#VTJOFTT
&DPOPNJDT, -FWJUU 5 (SPXUI BOE QSPÇUT UISPVHI QMBOOFE NBSLFUJOH JOOPWBUJPO 5IF
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4PDJBM&OUSFQSFOFVSTIJQ3FTFBSDI"4PVSDFPG&YQMBOBUJPO
1SFEJDUJPOBOE%FMJHIU Madrid: IESE Business School, University of Navarra.
.BTPO$,JSLCSJEF+#SZEF%
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Changing Face of Social Enterprise Governance Theory. .BOBHFNFOU%FDJTJPO
61
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The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
◆
.B[[BSPM5-JNOJPT&"3FCPVE4
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institutionalism in organizational analysis. 5IFOFXJOTUJUVUJPOBMJTNJOPSHBOJ
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5ISFF5ZQFTPG1FSDFJWFE6ODFSUBJOUZBCPVUUIF&OWJSPONFOU
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Organizational Advantage. 5IF"DBEFNZPG.BOBHFNFOU3FWJFX
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1PMJDJFTBOE$JWJM4PDJFUZ. Routledge.
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*OUFMMJHFODFBOE1MBOOJOH
Rostila, M. (2010). The Facets of Social Capital. +PVSOBMGPSUIF5IFPSZPG4PDJBM
#FIBWJPVS
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sustainability: literature review and research options. &VSPQFBO .BOBHFNFOU
+PVSOBM, Sanchez, G. (2013). 1-4QBUINPEFMJOHXJUI33FUSJFWFEGSPNIUUQHBTUPOTBODIF[
[email protected]@[email protected]@3QEG
Schellhorn, M. (2011). *OUSPEVDJOH41.UP#FUUFS"DIJFWFUIF4PDJBM.JTTJPO .JDSPÇOBODF*OTUJUVUJPOTJOUIF1PTUDSJTJT&SB Brussels: Solvay Brussels School
of Economics and Management.
62
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Siripak Mattavanont and Guntalee Ruenrom
◆
4DINJEU4.$VNNJOHT--
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and Perceived Environmental Uncertainty. %FDJTJPO4DJFODFT, 4IPSF54USBVTT+
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organizational goals on performance ratings. *OUFSOBUJPOBM+PVSOBMPG.BOBHF
ment, 4DPUU83
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Consumption and entrepreneurship in a South Indian context. +PVSOBM PG
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networks. "DBEFNZPGNBOBHFNFOU+PVSOBM, 63
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The Empirical Study of Factors Affecting the Success of Social Enterprise
on Marketing and Social Performances
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