Analysis of Components for Product Innovation and Value Creation of Social Business

Abstract

Innovation affects organizations in technology development, with more than 90 percent of companies worldwide benefiting from building a business database. Moreover, more than 570 websites are created every minute, and more than eight billion networks are accessed by 2020. In this research the objective is to study the factor components of product innovation and the creation of added value of social enterprises. Researcher apply the theory of Diffusion of Innovation theory and review the product innovation and value-added. Population and sample size is social entrepreneurs in Thailand. A random sample of 200 samples size. Statistics in the research were the factor analysis. Result found that product innovation and value added have the factor loading higher than 0.50. Recommendations develop products at the corporate level or entrepreneurs to be able to create added value, such as creating new modern packaging formats, developing sales promotions through social media. Create a new marketing strategy create a marketing experience with consumers. At the community level, there should be a group to produce Provide the resources required for production. Do not produce duplicate products, share work, promote modern ideas. Open opportunities and listen to ideas from outside and new generations to join in creating modern ideas. Develop products to be able to compete with international by designing products to be able to respond to consumers in each country. At the national level, there are departments as well as to promote products to be able to compete with international is constantly evolving encourage quality products to meet national standards including packaging that must meet the needs of consumers in each region.