Strategic Business Model Canvas Development of Police Saving Cooperatives in Thailand

Abstract

This study aims to investigate the operational conditions of police savings cooperatives in Thailand, develop a strategic business model for these cooperatives, and assess the model's effectiveness. The research employs both quantitative and qualitative methodologies and is structured in three phases: 1) examining the operational conditions of Thai police savings cooperatives, 2) developing an appropriate strategic business model, and 3) evaluating the proposed model. The research sample comprises 131 police savings cooperatives across Thailand, selected through purposive sampling. Data collection instruments include questionnaires and interviews, with analysis conducted using descriptive statistics.

            Phase 1 findings indicate a very high overall level of satisfaction with cooperative operations. The highest-rated aspect was the clear identification of customer groups and segmentation of members based on varied needs, followed by the alignment of interest rates and special services with member expectations. Cost management effectiveness and appropriateness received the lowest rating.

            Phase 2, The development of a strategic business model for police savings cooperatives, using the Business Model Canvas approach, was discussed in focus groups with experts. Several key suggestions were consistently made, particularly in financial services. Experts agreed that the cooperative should focus on offering financial services that truly meet members’ needs, such as loans with appropriate interest rates and repayment terms.

            Phase 3 evaluation of the strategic business model revealed very high overall approval. The model's capacity to enhance member participation and assist cooperatives in adapting to future economic and social changes received the highest rating. The lowest-rated aspect concerned the model's effectiveness in addressing existing cooperative challenges.