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ISSN 2063-5346
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QUALITY MANAGEMENT (QM) AND HUMAN CAPITAL STRATEGIES FOR LONG-TERM SUCCESS IN THE CHEMICAL INDUSTRY OF THAILAND

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Ekgnarong Vorasiha, Wichar Kunkam, Keattisak Chankaew
» doi: 10.31838/ecb/2023.12.si5a.0654

Abstract

The research focuses on the theoretical framework of Quality Management (QM) and Human Capital Strategies (HCS)in the Chemical industry of Thailand. It highlights the significance of developing personnel at all levels to achieve high performance and work morale, leading to sustainable outcomes and a competitive advantage for organizations. The study entrepreneurs and high-level executives from 322 chemical industry business, with a minimum required sample size of 270 for analysis. Utilizing Structural Equation Modeling (SEM), the research examined the direct influence of QM and HCS on work morale, employee performance, and organizational efficiency. QM and HCS were identified as critical drivers, with empirical evidence supporting the importance of sustainable practices in fostering highly efficient organizations. The implications of the research extend to practical and social domains. Entrepreneurs and organizational leaders can benefit from the guidance provided for effective QM and HCS implementation. Investing in personnel development and fostering high performance and work morale can lead to a competitive advantage and improved efficiency. From a social perspective, prioritizing human capital contributes to the overall growth and well-being of the workforce. The study's originality lies in its specific focus on the Chemical industry of Thailand, providing unique insights into the relationship between sustainable QM and HCS and organizational performance. The research serves as a valuable resource for entrepreneurs and organizational leaders, emphasizing the critical role of human capital in driving sustainable outcomes and creating highly efficient organizations.

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