Document Type : Research Article

Authors

• CHUTIMANT BOONNUAL ¹
• THITIRAT THAWORNSUJARITKUL ²

¹ King Mongkut's Institute of Technology Ladkrabang, Prince of Chumphon Campus, Thailand

² Associate Professor, Faculty of Business Administration, King Mongkut's University of Technology North Bangkok, Rayong Campus, Thailand

Abstract

This research studied the relationship of business operations based on business elements of
Business Model Canvas that influenced the efficiency in risk management and the performance
of SMEs in Rayong province. The research is based on a Quantitative research methodology,
where data collection has been achieved through self- administered questionnaires. The statistical
results found that the Business Model Canvas influenced SMEs performance in Rayong.The
empirical data and correlation testing via Structure Equation Modeling in which found thatSMEs
businesses in Rayong had well business plan that covered all the nine aspects of Business Model
Canvas with the efficient risk management.Both led to the well Balance Scorecard performance
including the well business plan that would lead the business to have good risk management
efficiency. The risk management efficiency was the partial mediation from the Business Model
Canvas to the business performance result.

Keywords

• Business Model Canvas
• risk management
• Balance Scorecard
• SMEs
• Business Performance