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Modeling of Critical Success Factors of Thai Retailers: Interpretive Structural Modeling Approach

In: Asia-Pacific Contemporary Finance and Development

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  • Supachart Iamratanakul

Abstract

The purpose of this chapter is to identify and analyze various critical success factors (CSFs) that can facilitate retailing business in Thailand. This chapter further aims to understand the mutual interactions among these CSFs through identification of the hierarchical relationships among them. A framework for Thai retailers has been developed, wherein the hierarchical interrelationships between identified CSFs have been presented and interpreted using total interpretive structural modeling (TISM). Cross-impact matrix multiplication applied to classification analysis has been further employed to identify the driving power as well as dependence power of these CSFs. In the present research, 15 CSFs have been identified through literature review and expert opinions. The methodology employed in this study provides a mechanism to conduct an exploratory study by identifying the factors and analyzing their interactions through the development of a hierarchical framework. The proposed framework developed through qualitative modeling is an effort to understand relevant factors that can apply to the Thai retailers. This study makes a significant contribution in the literature of retailing business, which captures the perspective of different customers.

Suggested Citation

  • Supachart Iamratanakul, 2019. "Modeling of Critical Success Factors of Thai Retailers: Interpretive Structural Modeling Approach," International Symposia in Economic Theory and Econometrics, in: Asia-Pacific Contemporary Finance and Development, volume 26, pages 69-87, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:isetez:s1571-038620190000026005
    DOI: 10.1108/S1571-038620190000026005
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    More about this item

    Keywords

    Retailers; critical success factors; customer behavior; Thai business; interpretive structural modeling (ISM); diagraph model; M10; M11; M30;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General

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