STRATEGY FOR DEVELOPING THE POTENTIAL OF COMMUNITY ENTERPRISES IN PRODUCT PRODUCTION GROUPS TOWARDS SUSTAINABLE GROWTH

Abstract

Community enterprises are essential for grassroots economies focused on sustainable development. This study aims to investigate strategies for maximising the potential of community enterprises within product production groups to achieve sustainable growth. The research methodology employed a combination of qualitative interviews with experts, focus group discussions, and quantitative data collection through surveys administered to community enterprise operators. The study's findings highlight essential strategies for achieving sustainable growth, which are categorised into distinct elements as follows: 1) In product design and development (X ̅= 4.55), conducting research within the community enterprise is crucial for driving the design of innovative products. 2) Network building (X ̅ = 4.55) involves collaborating with educational institutions to enhance knowledge and skills. 3) Resource efficiency (mean = 4.55), which involves providing personnel with modern communication technology skills and knowledge. 4) This study focuses on gathering and analysing customer feedback (X ̅= 4.53) to facilitate continuous improvement. There were no significant differences found in the analysis of the values assigned to strategies for developing community enterprises' potential between consumer products classified within the CAC region and those in other categories, at a statistically significant level of 0.05. The analysis of the structural equation model showed that the evaluation criteria were in line with the real-world data, showing a perfect fit with a chi-square probability level of zero. The relative chi-square value of 0.706 and the concordance index of 0.959 support the validity of the model. Additionally, the model has an R2 of 0.852 and a root mean square error of approximation index value of 0.016.