Vous êtes sur la page 1sur 11

International Journal of Arts & Sciences,

CD-ROM. ISSN: 1944-6934 :: 08(01):317–326 (2015)

8,)-14%'83*/23;0)(+)1%2%+)1)28 /1 %2(
-223:%8-3232&97-2)774)6*361%2')%'%7)789(=3*
&%2/-2+-2(9786=-28,%-0%2(

&LSVRXM[E;MNMXKSQIRERH.IHWEHE;SRKWERWYONEVSIR

/EWIXWEVX9RMZIVWMX]8LEMPERH

8LMW WXYH] I\EQMRIW XLI MQTEGX SJ WTIGMJMG FYWMRIWW EGXMZMXMIW SR FYWMRIWW TIVJSVQERGI SJ FEROW MR
8LEMPERH8LIFYWMRIWWEGXMZMXMIWWXYHMIHMRGPYHIHORS[PIHKI QEREKIQIRX /1 ERHMRRSZEXMSR8LI
WXYH][EWGSRHYGXIHEWEUYERXMXEXMZIWIPJEHQMRMWXIVIHUYIWXMSRREMVISJWYTIVZMWSVWERHQEREKIQIRX
SJ FEROW MR 8LEMPERH R !   8LIVI [IVI XLVII L]TSXLIWIW XIWXIH VIKEVHMRK XLI MQTEGX SJ /1 SR
MRRSZEXMSR ,  XLI MQTEGX SJ /1 SR FYWMRIWW TIVJSVQERGI ,  ERH XLI MQTEGX SJ MRRSZEXMSR SR
FYWMRIWW TIVJSVQERGI ,  8LI JMRHMRKW WLS[IH XLEX EPP XLVII SJ XLIWI VIPEXMSRWLMTW [IVI EGGITXIH
[MXLQSHIVEXIVIKVIWWMSRVIPEXMSRWLMTWFIX[IIRXLITVIHMGXSVERHSYXGSQIZEVMEFPIWMREPPXLVIIEVIEW
8LIWI JMRHMRKW EVI WMKRMJMGERX JSV 8LEM FYWMRIWWIW EW [IPP EW SXLIVW FIGEYWI XLI] WLS[ E JSGYW SR
MQTVSZMRK /1 ERH MRRSZEXMSR TVEGXMGIW GER MQTVSZI FERO TIVJSVQERGI 8LIWI VIWYPXW GSYPH EPWS FI
VIPIZERXXSSXLIVWIVZMGIMRHYWXVMIWXLEXVIP]SRMRRSZEXMSRERH/1XSGSRHYGXXLIMVSTIVEXMSRW

/I][SVHW-RRSZEXMSR/RS[PIHKIQEREKIQIRX&YWMRIWWTIVJSVQERGI*MRERGMEPWIVZMGIWMRHYWXV]

-RXVSHYGXMSR

8LMW VIWIEVGL MW GSRGIVRIH [MXL XLI VSPI SJ ORS[PIHKI QEREKIQIRX /1  MR XLI FEROMRK MRHYWXV] SJ
8LEMPERH IWTIGMEPP] MXW VSPI MR MRRSZEXMSR ERH JMRERGMEP TIVJSVQERGI 3RI SJ XLI GVMXMGEP UYIWXMSRW SJ
QSHIVRFYWMRIWWMRXLIIQIVKMRKGSYRXV]GSRXI\XMWLS[JMVQWXLEXEVIJSYRHIHMRXLIWIIGSRSQMIWGER
GSQTIXI [MXL IWXEFPMWLIH REXMSREP MRHYWXVMIW 4VIZMSYW WXYHMIW LEZI WLS[R XLEX JMVQW MR IQIVKMRK
IGSRSQMIWXLEXYWI/1XSPIZIVEKIXLIMVSVKERM^EXMSREPORS[PIHKIEWWIXWGERVIQEMRJPI\MFPIERHHIZIPST
MRRSZEXMZI RI[ TVSHYGXW ERH WIVZMGIW JSV XLIWI QEVOIXW 0M
 /S^LMOSHI   8LIWI JMRHMRKW EVI
GSRWMWXIRX[MXLXLIPMXIVEXYVISR/1ERHMXWVSPIMRHIZIPSTIHIGSRSQMIWEWHMWGYWWIHFIPS[,S[IZIV
XLIVILEWFIIRVIPEXMZIP]PMXXPIVIWIEVGLSR/1ERHMXWVSPIMRXLI8LEMJMVQ6IGIRXIZMHIRGIJVSQ8LEM
KSZIVRQIRX SVKERM^EXMSRW WYGL EW XSYVMWQ EKIRGMIW ERH GSQQYRMXMIW FYWMRIWWIW WYGL EW XLI 3RI
8EQFSR 3RI 4VSHYGX 3834  TVSKVEQW HS WLS[ XLEX /1 MW MR YWI EW ER EGXMZI TVEGXMGI &EVRIXX

'EVXIV  8YEQWYO 4LEFY
 :SRKTVEWIVX   8LIVI LEW EPWS FIIR VIWIEVGL MR 8LEM WQEPP ERH
QIHMYQ IRXIVTVMWIW 71)W  [LMGL MRHMGEXIW XLEX /1 TVSGIWWIW EVI MR YWI ERH KIRIVEPP] MQTVSZI
TIVJSVQERGI MRGPYHMRKMRHMZMHYEPERHSVKERM^EXMSREPTIVJSVQERGI  7YT]IYR]SRK
7[MIVG^IO 
8LYWXLIVIMWVIEWSRXSI\EQMRIXLIVSPISJ/1MR8LEMJMVQW
8LMW VIWIEVGL JSGYWIW SR XLI FEROMRK MRHYWXV] 8LI FEROMRK MRHYWXV] [EW GLSWIR JSV XLI VIWIEVGL
FIGEYWI MX MW SRI SJ XLI PEVKIWX MRHYWXVMIW MR 8LEMPERH EW [IPP EW SRI SJ XLI MRHYWXVMIW [LIVI /1 MW
TEVXMGYPEVP] MQTSVXERX 8LI FEROMRK MRHYWXV] MW EPWS XLI WMXI SJ MRGVIEWMRK KPSFEPM^EXMSR ERH JSVIMKR
S[RIVWLMT-RXLI JSVIMKRS[RIVWLMTPMQMXEXMSR[EWPMJXIHJSVFEROWMR8LEMPERHXLEX[IVIMR
KSSH JMRERGMEP GSRHMXMSR VEXLIV XLER SRP] XLSWI XLEX [IVI LEZMRK HMJJMGYPXMIW SV VIUYMVIH VILEFMPMXEXMSR
*IVRUYIWX  8LI EGUYMWMXMSR SJ &ERO SJ %]YHL]E &%=  F] .ETERIWI FERO SJ 8SO]S1MXWYFMWLM

317
318 The Impact of Knowledge Management (KM) and Innovation on Business ...

QEVOIHXLISTIRMRKSJXLIMRHYWXV]XSWMKRMJMGERXJSVIMKRGSQTIXMXMSR *IVRUYIWX 8LYWRSXSRP]MW


XLI FEROMRK MRHYWXV] PEVKI ERH XIGLRSPSKMGEPP] IREFPIH MX MW EPWS PMOIP] XS JEGI GLEPPIRKIW [MXL
MRXIVREXMSREP QEREKIQIRX ERH SVKERM^EXMSREP WXVYGXYVI *YVXLIVQSVI XLIWI GLERKIW [MPP FVMRK XLI 8LEM
FEROWMRXSGSQTIXMXMSR[MXLJSVIMKRFEROW[LMGLGERFIETVSFPIQJSVJMVQWJVSQIQIVKMRKIGSRSQMIW
FIGEYWISJXLIMVLMKLIVVIWSYVGIW 0M
/S^LMOSHI 
8LI SFNIGXMZI SJ XLI WXYH] MW XS I\EQMRI XLI YWI SJ /1MR XLMWMRHYWXV] ERH MHIRXMJ] VIPEXMSRWLMTW
FIX[IIR/1MRRSZEXMSRERHJMVQTIVJSVQERGI

0MXIVEXYVI6IZMI[

8LIGSVIXLISV]SJXLMWVIWIEVGLMWORS[PIHKIQEREKIQIRX /1 /1[EWSVMKMREPP]HIJMRIHF].ETERIWI
EYXLSV -OYNSVS 2SREOE MR E HMWGYWWMSR SJ LS[ .ETERIWI GSQTERMIW GVIEXI ERH QEREKI ORS[PIHKI
2SREOE 8LI ORS[PIHKI GVIEXMRK GSQTER]   0EXIV JSVQYPEXMSRW SJ /1 LEZI JSGYWIH SR XLI
HMWXMRGXMSRW FIX[IIR XEGMXERH I\TPMGMX ORS[PIHKI EW HIJMRIH F] TLMPSWSTLIV 1MGLEIP 4SPER]M 4SPER]M
;EPPEGI 8EGMXORS[PIHKIVIPEXIWXSORS[PIHKIXLEXMWTIVWSREPYR[VMXXIRERHTSXIRXMEPP]
IZIRYRZSMGIHF]XLSWIXLEXLSPHMX)\TPMGMXORS[PIHKIF]GSRXVEWXMW[VMXXIRWXERHEVHM^IHERHWLEVIH
;EPPEGI 8LITVSGIWWSJORS[PIHKIQEREKIQIRXVIPEXIWXSGSRZIVWMSRSJORS[PIHKIJVSQXEGMXXS
I\TPMGMX SV ZMGI ZIVWE  WXSVEKI SJ XLMW ORS[PIHKI ERH GSQQYRMGEXMSR SJ XLI ORS[PIHKI XS XLSWI XLEX
RIIH XS ORS[ MX 2SREOE
 8EOIYGLM   8LI 7)'- QSHIP WXERHMRK JSV 7SGMEPM^EXMSR
)\XIVREPM^EXMSR 'SQFMREXMSR ERH -RXIVREPM^EXMSR  MHIRXMJMIW XLI HMJJIVIRX XIGLRMUYIW JSV GSRZIVWMSR SJ
ORS[PIHKIFIX[IIRX]TIW 2SREOE
8EOIYGLM 8LMWQSHIPMWWLS[RMR*MKYVI

*MKYVI8LI7)'-QSHIPSVORS[PIHKIQEREKIQIRXWTMVEP 7SYVGI%HETXIHJVSQ2SREOEERH8EOIYGLM 
'SQTSRIRXW SJ ORS[PIHKI QEREKIQIRX EW GSQQSRP] YWIH MR QSHIVR SVKERM^EXMSRW MRGPYHI
ORS[PIHKI MRJSVQEXMSR XIGLRSPSK] ERH SVKERM^EXMSREP GSRXI\X +SXXWGLEPO   3VKERM^EXMSREP
GSRXI\X ERH MRJSVQEXMSR XIGLRSPSK] EVI KIRIVEPP] RIIHIH XS LIPT IRWYVI XLEX XLI /1 TVSKVEQ GER FI
WYGGIWWJYPEPXLSYKLXLI]EVIRSXWYJJMGMIRXXSMQTPIQIRX/1MRERHSJXLIQWIPZIW /MQ
0II 
8LYWEPPXLVIISJXLIWIIPIQIRXWEVIRIIHIHXSHIJMRIXLI/1TVSKVEQ/1MWYWIHF]SVKERM^EXMSRWJSVE
ZEVMIX] SJ TYVTSWIW FYX XLI MRMXMEP MRXIRXMSR SJ XLI TVEGXMGI [EW XS MQTVSZI MRRSZEXMSRW MR FYWMRIWW F]
EGXYEPP] GVIEXMRK ORS[PIHKI EW [IPPEWYWMRK MX IJJIGXMZIP] 2SREOE  2SREOE
 8EOIYGLM  
/1LEWFIIRHIZIPSTIHMRERYQFIVSJJMIPHWMRGPYHMRKSVKERM^EXMSREPFILEZMSVMRJSVQEXMSRXIGLRSPSK]
ERHMRJSVQEXMSRWGMIRGIW ;EPPEGI 
/1LEWFIIRWLS[RMRXLIPMXIVEXYVIXSLEZIERMQTEGXSRFYWMRIWWMRRSZEXMSR/1TVSZMHIWE[E]
JSV SVKERM^EXMSRW XS GSRZIVX WXSVI ERH YWI ORS[PIHKI GSPPIGXIH F] MXW MRHMZMHYEP QIQFIVW [LMGL
Bhorntiwa Wijitgomen and Jedsada Wongsansukjaroen 319

MRGVIEWIW XLI EQSYRX SJ ORS[PIHKI MRRSZEXSVW ERH HIZIPSTIVW GER HVE[ SR (Y 4PIWWMW   /1
EPPS[W HIZIPSTIVW XS VIHYGI XLIMV TVSHYGX SV WIVZMGI HIZIPSTQIRX PMJIG]GPI XMQIW ERH YRHIVWXERH [LEX
GYWXSQIVWRIIHEW[IPPEW[LEXMWXIGLRMGEPP]TSWWMFPI (Y4PIWWMW /1GERFITEVXMGYPEVP]LIPTJYP
MRTVSQSXMRKMRRSZEXMSRMRWQEPPJMVQWERHJMVQW[LIVIEFWSVTXMZIGETEGMX]MWPMQMXIHWMRGIMXIRGSYVEKIW
YWI ERH VIYWI SJ I\MWXMRK ORS[PIHKI +VE]   8LMW MW TEVXMGYPEVP] MQTSVXERX JSV XLIWI WQEPP JMVQW
FIGEYWISJPMQMXEXMSRWSRXLILYQERGETMXEPXLI]GERHVE[SRQEOMRKMXIWWIRXMEPXSQE\MQM^IORS[PIHKI
VIYWI 'SQTIXMXSVW JVSQ IQIVKMRK IGSRSQMIW QE] JMRH /1 TEVXMGYPEVP] MQTSVXERX WMRGI XLI] [MPP FI
GSQTIXMRKEKEMRWXJMVQWXLEXEVIEPVIEH]KPSFEPP]IWXEFPMWLIHERHLEZIPEVKIHIZIPSTQIRXFYHKIXW 0M

/S^LMOSHI   %W 0M ERH /S^LMOSHI   I\TPEMRIH JMVQW MR IQIVKMRK IGSRSQMIW XLEX XEOI
JPI\MFPI IQYPEXMSRFEWIH WXVEXIKMIW JSV QEVOIX IRXV] SJXIR YWI /1 TVEGXMGIW MR SVHIV XS MRGVIEWI
SVKERM^EXMSREPMRRSZEXMSR-RGSRXVEWXMRJPI\MFPIMQMXEXMSRFEWIHWXVEXIKMIWHSRSXVIP]EWQYGLSR/1SV
TVSHYGI EW QYGL MRRSZEXMSR 8LYW XLI YWI SJ /1 MW EWWSGMEXIH [MXL XLI HIZIPSTQIRX SJ MRRSZEXMSRW
-RRSZEXMZI SVKERM^EXMSRW LEZI EPWS FIIR SFWIVZIH XS QEOI WXVSRKIV YWI SJ XEGMX ORS[PIHKI MRGPYHMRK
HMVIGXYWIERHGSRZIVWMSRXSI\TPMGMXORS[PIHKI 7IMHPIVHI%P[MW
,EVXQERR ,S[IZIVXLIJMVQ
QE] JEGI GSRWMHIVEFPI FEVVMIVW XS XEGMX ORS[PIHKI GSRZIVWMSR ERH XVERWJIV XLEX QE] VIHYGI XLMW EFMPMX]
7IMHPIVHI%P[MW
,EVXQERR %RSXLIVVIGIRXWXYH]LEWWLS[RXLEX/1ERHSXLIV-8WXVYGXYVIW
EVIRIGIWWEV]FYXRSXWYJJMGMIRXJSVJMVQWXSQEOIYWISJMRRSZEXMSRWXSMQTVSZIXLIJMVQoWTSWMXMSRERH
TIVJSVQERGI 0ÑJWXIR 8LMWWXYH]I\EQMRIHHMJJIVIRXXIGLRSPSK]JMVQWMR7[IHIR-XJSYRHXLEX
TVSGIWWHSGYQIRXEXMSRERHORS[PIHKIHMWWIQMREXMSRsX[SSJXLIOI]SVKERM^EXMSREPTVSGIWWIWSJ/1s
[IVI EWWSGMEXIH [MXL MQTVSZIH MRRSZEXMSR 8LMW WXYH] HSIW TSMRX XS WSQI HMJJIVIRGIW MR XLI PMXIVEXYVI
WTIGMJMGEPP]XLIWXYH]HMHRSXHVE[EGSRRIGXMSRFIX[IIRMRRSZEXMSRERHFYWMRIWWTIVJSVQERGI 0ÑJWXIR
 8LMWGSYPHFIJSVERYQFIVSJVIEWSRWWYGLEWXLIHIJMRMXMSRSJFYWMRIWWTIVJSVQERGIYWIHERHXLI
XMQI JVEQI SJ EREP]WMW ,S[IZIV MX HSIW WLS[ XLEX XLIVI MW E PMRO FIX[IIR /1 TVEGXMGIW ERH
SVKERM^EXMSREPMRRSZEXMSR
8LIGSQFMREXMSRSJ/1ERHMRRSZEXMSRLEWFIIRWLS[RXSLEZIERMQTEGXSRFYWMRIWWTIVJSVQERGI
EPXLSYKL/1HSIWLEZIXSFIYWIHMRXLIHIZIPSTQIRXERHMRRSZEXMSRTVSGIWWIWSJXLIJMVQMRSVHIVXSFI
WYGGIWWJYP % WXYH] SJ ')3W ERH XST QEREKIVW MR JMVQW WLS[IH XLEX /1 EGXIH MRHMVIGXP] SR JMVQ
TIVJSVQERGIF]MQTVSZMRKGSRHMXMSRWJSVMRRSZEXMSR (EVVSGL 8LMWWXYH]WLS[IHXLEX/1TPE]IH
E JEGMPMXEXMRK VSPI MR IWXEFPMWLMRK GSRHMXMSRW JSV MRRSZEXMSR -J JMVQW JSPPS[IH XLVSYKL [MXL MRRSZEXMSR
EGXMZMXMIWXLIJMVQoWFYWMRIWWTIVJSVQERGI[SYPHFIMQTVSZIH8LMWGSRHMXMSREPMX]SRXLIJMVQoWEGXMZMXMIW
[EW WLS[R MR E WIGSRH WXYH] EW [IPP 1EPLSXVE   8LMW WXYH] YWIH WIZIVEP GEWI WXYHMIW XS
HIQSRWXVEXIXLIMQTSVXERGI SJMRXIKVEXMSR SJ/1W]WXIQW MRGPYHMRK ORS[PIHKI -8 ERH SVKERM^EXMSREP
TVSGIWWIW  MRXS XLI MRRSZEXMSR TVSGIWW % QSVI VIGIRX WXYH] LEW MRJSVQIH XLEX -8 GETEFMPMXMIW ERH
SVKERM^EXMSREP TVSGIWWIW ERH WXVEXIKMIW EVI RIIHIH XS QEOI WYVI XLI SVKERM^EXMSR GER QEOI YWI SJ
ORS[PIHKIMRMXWMRRSZEXMSRTVSGIWWIW 'LERK
'LYERK 
3ZIVEPP XLI PMXIVEXYVI LEW WLS[R XLEX /1 EJJIGXW MRRSZEXMSR *YVXLIVQSVI MX LEW WLS[R XLEX
KIRIVEPP] XLSYKL RSX EP[E]W  /1 ERH MRRSZEXMSR EJJIGX JMVQ TIVJSVQERGI 8LIWI VIPEXMSRWLMTW LEZI
TVSZIHXSFIVSFYWXSZIVXMQI&EWIHSRXLIJMRHMRKWSJXLIPMXIVEXYVIXLIJSPPS[MRKL]TSXLIWIWLEZIFIIR
TVSTSWIH
, /1 ORS[PIHKI MRJSVQEXMSR XIGLRSPSK] ERH SVKERM^EXMSR  TSWMXMZIP] MRJPYIRGIW SVKERM^EXMSR
MRRSZEXMSR
, /1 ORS[PIHKI MRJSVQEXMSR XIGLRSPSK] ERH SVKERM^EXMSR  TSWMXMZIP] MRJPYIRGIW SZIVEPP
FYWMRIWWTIVJSVQERGI
,3VKERM^EXMSRMRRSZEXMSRTSWMXMZIP]MRJPYIRGIWSZIVEPPFYWMRIWWTIVJSVQERGI

 8LIXLISVIXMGEPJVEQI[SVOXLEX[MPPFIXIWXIHMWWLS[RMR*MKYVI
320 The Impact of Knowledge Management (KM) and Innovation on Business ...

Knowledge Management
(KM)
H2
- Knowledge
- Information technology
Overall Business
- Organization al
Performance

H1

Organization H3
Innovation

*MKYVI'SRGITXYEPJVEQI[SVO

6IWIEVGL1IXLSHSPSK]

8LI VIWIEVGL QIXLSH WIPIGXIH [EW E HIHYGXMZI UYERXMXEXMZI WXYH] 8LMW QIXLSH [EW WIPIGXIH FIGEYWI
UYERXMXEXMZIVIWIEVGLGERFIYWIHXSHMVIGXP]XIWXL]TSXLIWIW[LMPIUYEPMXEXMZIWXYHMIWGERRSX 'VIW[IPP
 8LIHIHYGXMZIETTVSEGL[EWWIPIGXIHFIGEYWISJXLII\MWXIRGISJERI\MWXMRKFSH]SJVIWIEVGLERH
IZMHIRGI[LMGLWYKKIWXIHVIPEXMSRWLMTW &V]QER
&IPP 8LIPIZIPSJEREP]WMWSJXLIVIWIEVGLMW
XLIMRHMZMHYEP
8LI MRWXVYQIRX YWIH JSV XLI WXYH] [EW E WIPJEHQMRMWXIVIH UYIWXMSRREMVI 8LI UYIWXMSRREMVI [EW
HIWMKRIH YWMRK WXERHEVH XIGLRMUYIW -X MRGPYHIH HIQSKVETLMG UYIWXMSRW EW [IPP EW UYIWXMSRW MR XLVII
WGEPIW /RS[PIHKI QEREKIQIRX /1   MXIQW  [EW EHETXIH JVSQ 6EWYPE :YOWMG ERH 7XIVRFIVKIV
 3VKERM^EXMSREPMRRSZEXMSR MXIQW [EWEHETXIHJVSQ-WQEIP&IPPM7SLRERH8SYWWEMRX  
3VKERM^EXMSREPTIVJSVQERGI MXIQW [EWEHETXIHJVSQ;EVH(YVE]0ISRKERH7YQ  %TVI
XIWX SJ  GSTMIW SJ XLI UYIWXMSRREMVI [EW GSRHYGXIH 5YIWXMSRREMVIW [IVI XIWXIH JSV VIPMEFMPMX] YWMRK
'VSRFEGLoW EPTLE [MXL E PS[IV XLVIWLSPH SJ Π!  FEWIH SR I\MWXMRK EGGITXERGI QSHIPW &V]QER

&IPP   %PP WGEPIW TEWWIH XLMW XLVIWLSPH :EPMHMX] [EW XIWXIH YWMRK JEGXSV PSEHMRK [MXL E PS[IV
XLVIWLSPHSJ%PPWGEPIW[IVIEGGITXIH

8LI XEVKIX TSTYPEXMSR [EW WYTIVZMWSVW ERH QEREKIVW MR FEROW MR 8LEMPERH 8LI WEQTPI WM^I [EW
IWXEFPMWLIHEXR!JSPPS[MRKXIGLRMUYIWJSVPEVKIYRORS[RTSTYPEXMSR'SRZIRMIRGIWEQTPMRK[EW
YWIH [MXL MRTIVWSR HMWXVMFYXMSR ERH GSPPIGXMSR SJ XLI UYIWXMSRREMVIW EX FEROW MR &ERKOSO 'SPPIGXMSR
GSRXMRYIHYRXMPXLIWEQTPIWM^I[EWVIEGLIH%XSXEPSJUYIWXMSRREMVIW[IVIHMWXVMFYXIHKMZMRKXLI
WXYH]EVIWTSRWIVEXISJ 
(EXE[EWEREP]^IHYWMRK7477(IWGVMTXMZIWXEXMWXMGW[IVIGEPGYPEXIHJSVHIQSKVETLMGZEVMEFPIWERH
MRHMZMHYEP VIWTSRWI ZEVMEFPIW 8LMW EPPS[W JSV MHIRXMJMGEXMSR SJ KIRIVEP XVIRHW MR /1 YWI EW [IPP EW
KIRIVEPM^EXMSRSJXLIJMRHMRKWMRXLITSTYPEXMSR1YPXMTPIVIKVIWWMSR[EWYWIHJSVEREP]WMW8LMWXSSP[EW
WIPIGXIHFIGEYWISJXLIEFMPMX]XSMHIRXMJ]WIZIVEPJEGXSVWMRXLISYXGSQIZEVMEFPI &V]QER
&IPP 
,]TSXLIWMW IJJIGXSJ/1SRMRRSZEXMSR [EWXIWXIHSRMXWS[R,]TSXLIWIWERH IJJIGXWSJ/1ERH
MRRSZEXMSRSRFYWMRIWWTIVJSVQERGI [IVIXIWXIHXSKIXLIVMRSVHIVXSMHIRXMJ]NSMRXIJJIGXW
Bhorntiwa Wijitgomen and Jedsada Wongsansukjaroen 321

6IWYPXWERH%REP]WMW

(IQSKVETLMGW

8EFPI  WYQQEVM^IW XLI HIQSKVETLMGW SJ XLI WXYH] 8LMW WLS[W XLEX XLI QENSVMX] SJ VIWTSRHIRXW [IVI
JIQEPI  EKIHXS]IEVW  LIPHE&EGLIPSVoWHIKVII  [IVIWMRKPI  ERH
LEHSRIXSXLVII]IEVW[SVOI\TIVMIRGI  ,S[IZIV SJTEVXMGMTERXWLEHQSVIXLERSRI]IEV
SJI\TIVMIRGI8LMWWYKKIWXWXLIKVSYTMWVIPEXMZIP]LMKLP]I\TIVMIRGIHSZIVEPP8LIVIEVIRSHIWGVMTXMZI
XLEX HIWGVMFI FERO ERH JMRERGMEP WIVZMGIW QEREKIVW MR 8LEMPERH KIRIVEPP] 8LMW QEOIW MX HMJJMGYPX XS
HIXIVQMRILS[VITVIWIRXEXMZISJXLITSTYPEXMSRXLIWEQTPI[EW

8EFPI7YQQEV]SJHIQSKVETLMGWXEXMWXMGW
+IRHIV
'EXIKSV] *VIUYIRG] 4IVGIRX 'YQYPEXMZI4IVGIRX
1EPI   
*IQEPI   
8SXEP   
%KI
'EXIKSV] *VIUYIRG] 4IVGIRX 'YQYPEXMZI4IVGIRX
]IEVW   
]IEVW   
]IEVW   
]IEVW   
8SXEP   
)HYGEXMSR
'EXIKSV] *VIUYIRG] 4IVGIRX 'YQYPEXMZI4IVGIRX
0S[IVXLERLMKLWGLSSP   
,MKLWGLSSPSVGSPPIKI   
&EGLIPSV WHIKVII   
1EWXIV WHIKVII   
4L(   
8SXEP   
1EVMXEP7XEXYW
'EXIKSV] *VIUYIRG] 4IVGIRX 'YQYPEXMZI4IVGIRX
7MRKPI   
1EVVMIHERHLEZI   
GLMPHVIR
1EVVMIHFYXLEZIRS   
GLMPHVIR
8SXEP   

;SVO)\TIVMIRGI

'EXIKSV] *VIUYIRG] 4IVGIRX 'YQYPEXMZI4IVGIRX

0IWWXLER]IEV   

]IEVW   

]IEVW   


322 The Impact of Knowledge Management (KM) and Innovation on Business ...

]IEVW   

1SVIXLER]IEVW   

8SXEP   

(IWGVMTXMZIWXEXMWXMGW

(IWGVMTXMZIWXEXMWXMGW[IVIGEPGYPEXIHJSVIEGLSJXLIMRHMZMHYEPERHWGEPIZEVMEFPIWMRGPYHMRKQIERERH
WXERHEVHHIZMEXMSR8LIWIEVIWLS[RMR8EFPI8LIVIWYPXWWLS[XLEXJMVQWKIRIVEPP]VEROXLIMVFYWMRIWW
TIVJSVQERGIEWI\GIPPIRX 1!7(! 8LI]EVIEPWSVIPEXMZIP]GSRJMHIRXEFSYXXLIJMVQoWYWI
SJMRRSZEXMSR 1!7(! ,S[IZIVVEXMRKWJSVXLIXLVIIGSQTSRIRXWSJ/1[IVIWSQI[LEX
[IEOIV 6IWTSRWIW JSV ORS[PIHKI [IVI XLI [IEOIWX 1 !  7( !   8LI RI\X WXVSRKIWX [EW
-RJSVQEXMSR 8IGLRSPSK] -8  1 !  7( !   8LI WXVSRKIWX GSQTSRIRX SJ /1 [EW XLI
SVKERM^EXMSRoW IRZMVSRQIRX 1 !  7( !   [LMGL [EW EFSYX XLI WEQI EW VEROMRKW JSV
MRRSZEXMSR3ZIVEPPXLIWIHIWGVMTXMZIWXEXMWXMGWWLS[XLEXJMVQWEVIPIWWGIVXEMRSREZIVEKIEFSYXXLIMVYWI
SJ/1XLERSJXLIMVMRRSZEXMSRERHFYWMRIWWTIVJSVQERGI

8EFPI7YQQEV]SJHIWGVMTXMZIWXEXMWXMGWJSVWGEPIZEVMEFPIW

 1IER 7XH
(IZMEXMSR

=SYSFXEMREKSSHI\XIRXSJRI[ORS[PIHKIJVSQI\XIVREPWSYVGIW WYGLEWWIQMREV  


IHYGEXMSRGSYVWIWERHNSYVREPW 

=SYI\GLERKI]SYVORS[PIHKI[MXL]SYVGS[SVOIVW  

=SYWLEVI]SYVORS[PIHKISVEPP]EXQIIXMRKSVMRJSVQEPKEXLIVMRK  

=SYWLEVIGSRWMHIV]SYVORS[PIHKIEWERSVKERM^EXMSREPEWWIXERHRSX]SYVS[RWSYVGISJ  


WXVIRKXL

=SYWLEVI]SYVORS[PIHKIXLVSYKLJSVQEPTVSGIHYVI WYGLEWTVSNIGXVITSVXERH  


SVKERM^EXMSREPTVSGIHYVI 

/RS[PIHKI  

-R]SYVSVKERM^EXMSR-8XSSPWEVIYWIHXSWXSVIHEXESRMQTPIQIRXIHTVSNIGXWXEWOWERH  


EGXMZMXMIW

-R]SYVSVKERM^EXMSR-8XSSPWEVIYWIHXSWXSVIMRJSVQEXMSRSRWYTTPMIVWERHGYWXSQIVW  

-R]SYVSVKERM^EXMSR-8XSSPWEVIYWIHXSWYTTSVXGSPPEFSVEXMZI[SVO IKGEPIRHEVWZMHIS  


GSRJIVIRGMRKW]WXIQWGSQQYRMGEXMSRXSSPW 

-8XSSPWMR]SYVSVKERM^EXMSREVIWMQTPIXSYWIERHLEZIEYWIVJVMIRHP]MRXIVJEGI  

-8XSSPWMR]SYVSVKERM^EXMSRIREFPIIJJIGXMZI[SVO  

-RJSVQEXMSR8IGLRSPSK]  


Bhorntiwa Wijitgomen and Jedsada Wongsansukjaroen 323

-R]SYVSVKERM^EXMSRXLIVIMWEKIRIVEPMRGPMREXMSRXSGSSTIVEXMSRERHI\GLERKISJI\TIVMIRGI  


EQSRKWXEJJ

8LIKIRIVEPQEREKIQIRXPIEHIVWLMTSJ]SYVSVKERM^EXMSRTVSQSXIWGSSTIVEXMSRERHI\GLERKI  


SJI\TIVMIRGIEQSRKWXEJJ

-R]SYVSVKERM^EXMSRKSSH[SVOMWVI[EVHIHEGGSVHMRKP]  

8LIKIRIVEPQEREKIQIRXPIEHIVWLMTSJ]SYVSVKERM^EXMSRQSXMZEXIWWXEJJXSIRKEKIMRJSVQEP  


IHYGEXMSRW]WXIQWXSEGLMIZIELMKLIVPIZIPSJIHYGEXMSR

-R]SYVSVKERM^EXMSRWYTTSVXXLII\GLERKISJHEXEMRJSVQEXMSRERHORS[PIHKIEQSRK  


SVKERM^EXMSREPYRMXW

3VKERM^EXMSR)RZMVSRQIRX  

=SYVSVKERM^EXMSR[MPPYRHIVXEOIWSQIXLMRKMRRSZEXMZISRP][LIRMXMWGPIEVXLEXMX[MPPFI  


WYGGIWWJYP 6IZIVWI 

-RKIRIVEP[IVIKYPEVP]VIGSRWMHIVGLERKIXLI[E][IHSXLMRKWMRXLMWSVKERM^EXMSR  

8LIPIEHIVSJ]SYVSVKERM^EXMSRIRGSYVEKIWXEJJXSXLMROHMJJIVIRXP]  

-R]SYVSVKERM^EXMSRMXMWMQTSVXERXXSHSXLMRKVMKLX[MXLSYXIZIVQEOMRKQMWXEOIW 6IZIVWI   

=SYVSVKERM^EXMSRVIGSKRM^IXLSWI[LSXV]MRRSZEXMZIXLMRKWIZIRMJXLI]JEMP  

3VKERM^EXMSR-RRSZEXMSR  

8LIHIPMZIV]VIPMEFMPMX]SJ]SYVSVKERM^EXMSRLEWFIIRMRGVIEWMRKWXIEHMP]  

8LIWIVZMGIUYEPMX]SJ]SYVSVKERM^EXMSRLEWFIIRMRGVIEWMRKWXIEHMP]  

8LIRYQFIVSJGVSWWWIPPMRKWIVZMGIMR]SYVSVKERM^EXMSRLEWFIIRMRGVIEWMRKTVSKVIWWMZIP]  

=SYVGSQTER]oWTVSJMXLEWFIIRMRGVIEWIHSYXWXERHMRKP]  

3ZIVEPP]SYVGSQTER]oWTIVJSVQERGIMWI\GIPPIRX  

&YWMRIWW4IVJSVQERGI  

,]TSXLIWMW

,]TSXLIWMWEVKYIHXLEXXLIGSQTSRIRXWSJORS[PIHKIQEREKIQIRX MRGPYHMRKORS[PIHKIMRJSVQEXMSR
XIGLRSPSK] ERH SVKERM^EXMSREP IRZMVSRQIRX  TSWMXMZIP] MRJPYIRGIH SVKERM^EXMSREP MRRSZEXMSR 8LI
VIPEXMSRWLMTEWXIWXIHYWMRKQYPXMTPIVIKVIWWMSR[EWWMKRMJMGERX *!T! 8LIVIWYPXW V!
 MRHMGEXIEQSHIVEXIVIPEXMSRWLMT[MXL SJMRRSZEXMSREWWSGMEXIH[MXLXLIWIZEVMEFPIW%RSR
WXERHEVHM^IHVIKVIWWMSRIUYEXMSRJSVXLMWXIWX[EW

8LMWWLS[WEWPMKLXRIKEXMZIVIPEXMSRWLMT[MXL-8,S[IZIVEPPXLVIIZEVMEFPIWWLS[IHEWMKRMJMGERX
VIPEXMSRWLMT,[EWEGGITXIHSRXLIWIVIWYPXW
324 The Impact of Knowledge Management (KM) and Innovation on Business ...

,]TSXLIWIWERH

,]TSXLIWMWWXEXIHXLEX/1[SYPHTSWMXMZIP]MRJPYIRGIFYWMRIWWTIVJSVQERGI[LMPI,]TSXLIWMWWXEXIH
XLEX MRRSZEXMSR [SYPH TSWMXMZIP] MRJPYIRGI FYWMRIWW TIVJSVQERGI 8LIWI X[S L]TSXLIWIW [IVI XIWXIH
XSKIXLIVYWMRKQYPXMTPIVIKVIWWMSR8LIVIWYPXWSJXLIXIWX[IVIWMKRMJMGERX *!T! 8LI
SYXGSQI SJ XLI VIWX V !   WLS[IH E QSHIVEXI VIPEXMSRWLMT FIX[IIR XLI JSYV TVIHMGXSV ZEVMEFPIW
/RS[PIHKI -RJSVQEXMSR 8IGLRSPSK] 3VKERM^EXMSREP )RZMVSRQIRX ERH -RRSZEXMSR  ERH XLI SYXGSQI
ZEVMEFPI *MVQ 4IVJSVQERGI  8LI GSIJJMGMIRXW WLS[IH XLEX EPP ZEVMEFPIW [IVI WMKRMJMGERX % RSR
WXERHEVHM^IHIUYEXMSRJSVXLMWVIPEXMSRWLMT[EW

8LIWIVIWYPXWGSRJMVQIHXLEXXLIWIL]TSXLIWIWGSYPHEPWSFIEGGITXIH

(MWGYWWMSR

%PPXLVIISJXLIL]TSXLIWIWTVSTSWIHMRXLMWVIWIEVGL[IVIEGGITXIH8LIJMRHMRKWWLS[IHXLEXXLIVI[EWE
QSHIVEXI XLSYKLRSXZIV]WXVSRK VIPEXMSRWLMTFIX[IIR/1ERHMRRSZEXMSR8LIVI[IVIEPWSQSHIVEXI
VIPEXMSRWLMTWFIX[IIR/1MRRSZEXMSRERHFYWMRIWWTIVJSVQERGI
8LIWIVIWYPXW[IVIKIRIVEPP]GSRWMWXIRX[MXLXLITVIZMSYWVIWIEVGL[LMGLLEWWLS[RXLEXXLIVIMWE
VIPEXMSRWLMTFIX[IIR/1MRRSZEXMSRERHFYWMRIWWTIVJSVQERGI 'LERK
'LYERK(EVVSGL
(Y 4PIWWMW  +VE]  0M
 /S^LMOSHI  0ÑJWXIR  1EPLSXVE  6EWYPE IX EP
7IMHPIVHI%P[MW
,EVXQERR7YT]IYR]SRK
7[MIVG^IO8YEQWYOIXEP -X
[EW EPWS GSRWMWXIRX [MXL XLI XLISVIXMGEP FEWMW SJ /1 [LMGL MW XLEX /1 GSRXVMFYXIW XS SVKERM^EXMSREP
MRRSZEXMSRERHEWEVIWYPXXSXLIJMVQoWSZIVEPPFYWMRIWWTIVJSVQERGI +SXXWGLEPO2SREOE
2SREOE
 8EOIYGLM  ;EPPEGI   8LYW XLI JMRHMRKW [IVI ETTVS\MQEXIP] GSRWMWXIRX [MXL XLI
JMRHMRKW XLEX XLI TVIZMSYW VIWIEVGL LEH MHIRXMJMIH 8LMW VIWIEVGL HMH RSX HMVIGXP] EWWIWW [LIXLIV /1
TPE]IHEQIHMEXMRKSVQSHIVEXMRKVSPIMRXLIVIPEXMSRWLMTFIX[IIRMRRSZEXMSRERHORS[PIHKI[LMGLLEW
FIIR ER MWWYI MR TVIZMSYW WXYHMIW (Y 4PIWWMW   ,S[IZIV XLI NSMRX VIPEXMSRWLMT FIX[IIR /1 ERH
MRRSZEXMSRERHTIVJSVQERGIQEREKIQIRXHSIWWYKKIWXXLIVIGSYPHFIEVIPEXMSRWLMTLIVI
8LIJMRHMRKWEPWSWLS[IHXLEX/1[EWMRYWIMR8LEMFEROW EPXLSYKLRSXEXEZIV]LMKLVEXI ERHXLEXXLMW
HMH GSRXVMFYXI XS XLI JMVQoW TIVJSVQERGI 8LMW WYTTSVXW TVIZMSYW VIWIEVGL MR 8LEMPERH MR KSZIVRQIRX
SVKERM^EXMSRWEW[IPPEW71)W &EVRIXX
'EVXIV7YT]IYR]SRK
7[MIVG^IO8YEQWYOIX
EP 8LIWIJMRHMRKWWYTTSVXXLIMHIEXLEX/1MWEKIRIVEPTVEGXMGIMRXLI8LEMSVKERM^EXMSREPXLSYKL
XLIVIWXMPPQE]FIGLEPPIRKIWERHTVSFPIQWXLEXEVIJEGIHMRMXWMQTPIQIRXEXMSR8LIVIMWRSX]IXEKIRIVEP
HMWGYWWMSRSJ/1MRXLI8LEMSVKERM^EXMSR[LMGL[SYPHFIYWIJYPJSVYRHIVWXERHMRKLS[/1EJJIGXWXLI
SVKERM^EXMSR SR XLI [LSPI 8LMW GSYPH FI ER STTSVXYRMX] JSV JYXYVI VIWIEVGL -X [SYPH EPWS LEZI FIIR
YWIJYPXSEWWIWWXLIMRXIVEGXMSRIJJIGXWSJ/1ERHMRRSZEXMSRKMZIRXLMWLEWFIIRWLS[RXSFIRERMWWYIMR
SXLIVWXYHMIW 7IMHPIVHI%P[MW
,EVXQERR1EPLSXVE 

'SRGPYWMSRERH6IGSQQIRHEXMSRW

8LMWVIWIEVGLXIWXIHXLIVIPEXMSRWLMTFIX[IIR/1MRRSZEXMSRERHFYWMRIWWTIVJSVQERGIMR8LEMJMRERGMEP
WIVZMGIW JMVQW YWMRK E UYERXMXEXMZI ETTVSEGL -X WLS[IH XLEX /1 HSIW EJJIGX MRRSZEXMSR ERH XLEX
JYVXLIVQSVI /1 ERH MRRSZEXMSR XSKIXLIV HS EJJIGX FYWMRIWW TIVJSVQERGI 8LMW MW GSRWMWXIRX [MXL XLI
QENSVMX]SJXLIPMXIVEXYVIVIKEVHMRK/1ERHWYKKIWXWXLEXXLIVIMWWYTTSVXJSVXLIVIPEXMSRWLMTMRIQIVKMRK
IGSRSQMIWPMOI8LEMPERHEWMRIPWI[LIVI
Bhorntiwa Wijitgomen and Jedsada Wongsansukjaroen 325

8LIWI JMRHMRKW WYKKIWX XLEX JMVQW MR 8LEMPERH WLSYPH GSRWMHIV XLI YWI SJ /1 EW TEVX SJ XLIMV
SVKERM^EXMSREPWXVEXIK]JSVMQTVSZMRKMRRSZEXMSRERHFYWMRIWWTIVJSVQERGI8LIJMVQWLSYPHEPWSHIZSXI
EXXIRXMSRRSXNYWXXSXLIORS[PIHKIMXWIPJFYXEPWSXSSVKERM^EXMSREPHIWMKRERHMRJSVQEXMSRXIGLRSPSK]
7IZIVEPWXYHMIWLEZIHIQSRWXVEXIHXLEX[LMPIMRHMZMHYEPGSQTSRIRXWSJ/1EVIRIGIWWEV]JSVMRRSZEXMSR
XLI]EVIRSXWYJJMGMIRXSRXLIMVS[R /MQ
0II0ÑJWXIR -RWXIEHJMVQWRIIHXSHIZIPSTE
GSQTVILIRWMZIWXVEXIK]JSVIRWYVMRKXLIMV/1WXVEXIK]MWWYGGIWWJYPERHMWEGXYEPP]GSRXVMFYXMRKXSXLIMV
MRRSZEXMSRTVSGIWWIW;MXLSYXXLMWMXMWPMOIP]XLEXWMQTP]YWMRK/1WSJX[EVI[MPPRSXFIIRSYKL
8LIVI EVI E RYQFIV SJ STTSVXYRMXMIW JSV JYXYVI VIWIEVGL MR XLMW EVIE 3RI SJ XLIWI STTSVXYRMXMIW MW
WXYH]MRKMRXIVEGXMSRWFIX[IIR/1ERHMRRSZEXMSRMRIQIVKMRKIGSRSQ]JMVQWMRQSVIHIXEMPJSVI\EQTPI
YWMRKEGEWIWXYH]8LMWGSYPHLIPTSZIVGSQIWSQISJXLIPMQMXEXMSRWSJXLITVIWIRXWXYH]MRGPYHMRKPEGO
SJ WTIGMJMG MRJSVQEXMSR EFSYX XLI JMVQW ERH WXERHEVHM^IH QIEWYVIW SJ JMVQ MRRSZEXMSR ERH /1
MQTPIQIRXEXMSR

6IJIVIRGIW

 &EVRIXX 0


 'EVXIV )   -RXIVGYPXYVEP MRXIVEGXMSRW GYPXYVI ERH ORS[PIHKI QEREKIQIRX 6IWIEVGL
JVSQXLI8LEMLSWTMXEPMX]ERHXSYVMWQMRHYWXV]1EREKIQIRX0IEHIVWLMTERH+SZIVRERGI
 &V]QER%
&IPP)  &YWMRIWWVIWIEVGLQIXLSHW VHIH 2I[=SVO3\JSVH9RMZIVWMX]4VIWW
 'LERK8
'LYERK7  4IVJSVQERGIMQTPMGEXMSRWSJORS[PIHKIQEREKIQIRXTVSGIWWIW)\EQMRMRK
XLIVSPIWSJMRJVEWXVYGXYVIGETEFMPMX]ERHFYWMRIWWWXVEXIK])\TIVX7]WXIQW[MXL%TTPMGEXMSRW  
(3-NIW[E
 'VIW[IPP .   6IWIEVGL HIWMKR 5YERXMXEXMZI UYEPMXEXMZI ERH QM\IH QIXLSHW ETTVSEGLIW XL IH 
8LSYWERH3EOW'%7EKI4YFPMGEXMSRW
 (EVVSGL .   /RS[PIHKI QEREKIQIRX MRRSZEXMSR ERH JMVQ TIVJSVQERGI .SYVREP SJ /RS[PIHKI
1EREKIQIRX  (3-LXXTH\HSMSVK
 (Y 4PIWWMW 1   8LI VSPI SJ ORS[PIHKI QEREKIQIRX MR MRRSZEXMSR .SYVREP SJ /RS[PIHKI
1EREKIQIRX  HSM!
 *IVRUYIWX .  .YP]   *SVIMKR FEROW 0EVKIV VSPI MR 8LEMPERH 6IXVMIZIH JVSQ &ERKOSO 4SWX
LXXT[[[FERKOSOTSWXGSQPIEVRMRKPIEVRMRKJVSQRI[WJSVIMKRFEROWPEVKIVVSPIMRXLEMPERH
 +SXXWGLEPO4  7XVEXIKMGORS[PIHKIQEREKIQIRXXIGLRSPSK]2I[=SVOU-+-
 +VE]'  %FWSVTXMZIGETEGMX]ORS[PIHKIQEREKIQIRXERHMRRSZEXMSRMRIRXVITVIRIYVMEPWQEPPJMVQW
-RXIVREXMSREP.SYVREPSJ)RXVITVIRIYVMEP&ILEZMSVERH6IWIEVGL  
 -WQEMP % - &IPPM 6 * 7SLR ;
 8SYWWEMRX 0   -RXIVREP GSRWMWXIRG] ERH VIPMEFMPMX] SJ E
UYIWXMSRREMVIEWWIWWMRKSVKERM^EXMSREPMRRSZEXMSRMRX[SWGLSSPWSJHIRXMWXV].SYVREPSJ(IRXEP)HYGEXMSR
  
 /MQ7
0II,  8LIMQTEGXSJSVKERM^EXMSREPGSRXI\XERHMRJSVQEXMSRXIGLRSPSK]SRIQTPS]II
ORS[PIHKIWLEVMRK GETEFMPMXMIW 4YFPMG %HQMRMWXVEXMSR 6IZMI[     (3- N
\
 0ÑJWXIR ,   -RJSVQEXMSR WXVYGXYVIW ERH FYWMRIWW TIVJSVQERGI  -QTPMGEXMSRW JSV XIGLRSPSK]FEWIH
JMVQ WMRRSZEXMSRTIVJSVQERGI/RS[PIHKIERH4VSGIWW1EREKIQIRX 4VITVMRX (3-OTQ
 0M .
 /S^LMOSHI 6 /   /RS[PIHKI QEREKIQIRX ERH MRRSZEXMSR WXVEXIK] 8LI GLEPPIRKI JSV
PEXIGSQIVW MR IQIVKMRK IGSRSQMIW %WME 4EGMJMG .SYVREP SJ 1EREKIQIRX     (3-
W\
 1EPLSXVE=  -RXIKVEXMRKORS[PIHKIQEREKIQIRXXIGLRSPSKMIWMRSVKERM^EXMSREPFYWMRIWWTVSGIWWIW
+IXXMRKVIEPXMQIIRXIVTVMWIWXSHIPMZIVVIEPFYWMRIWWTIVJSVQERGI.SYVREPSJ/RS[PIHKI1EREKIQIRX  
(3-LXXTH\HSMSVK
 2SREOE-  8LIORS[PIHKIGVIEXMRKGSQTER],EVZEVH&YWMRIWW6IZMI[  
326 The Impact of Knowledge Management (KM) and Innovation on Business ...

 2SREOE-
8EOIYGLM,  8LIORS[PIHKIGVIEXMRKGSQTER],S[.ETERIWIGSQTERMIWGVIEXIXLI
H]REQMGWSJMRRSZEXMSR2I[=SVO3\JSVH9RMZIVWMX]4VIWW
 4SPER]M1  8LIXEGMXHMQIRWMSR'LMGEKS-09RMZIVWMX]SJ'LMGEKS4VIWW
 6EWYPE.:YOWMG:&
7XIVRFIVKIV1  8LIMQTEGXSJORS[PIHKIQEREKIQIRXSRSVKERMWEXMSREP
TIVJSVQERGI)GSRSQMGERH&YWMRIWW6IZMI[  
 7IMHPIVHI %P[MW 6
 ,EVXQERR )   8LI YWI SJ XEGMX ORS[PIHKI [MXLMR MRRSZEXMZI GSQTERMIW
/RS[PIHKIQEREKIQIRXMRMRRSZEXMZIIRXIVTVMWIW.SYVREPSJ/RS[PIHKI1EREKIQIRX  (SM

 7YT]IYR]SRK :
 7[MIVG^IO * ;   /RS[PIHKI QEREKIQIRX TVSGIWW ERH SVKERM^EXMSREP
TIVJSVQERGI MR 71)W -RXIVREXMSREP .SYVREP SJ /RS[PIHKI 1EREKIQIRX     (3-
NOQ
 8YEQWYO/4LEFY8
:SRKTVEWIVX'  /RS[PIHKIQEREKIQIRXQSHIPSJGSQQYRMX]FYWMRIWW
8LEM 3834 GLEQTMSRW .SYVREP SJ /RS[PIHKI 1EREKIQIRX     (3-
LXXTH\HSMSVK./1
 ;EPPEGI ( 4   /RS[PIHKI QEREKIQIRX ,MWXSVMGEP ERH GVSWWHMWGMTPMREV] XLIQIW ;IWXTSVX '8
0MFVEVMIW9RPMQMXIH +VIIR[SSH4YFPMWLMRK 
 ;EVH48(YVE]6/ISRK0ISRK+
7YQ''  &YWMRIWWIRZMVSRQIRXSTIVEXMSRWWXVEXIK]
ERH TIVJSVQERGI %R IQTMVMGEP WXYH] SJ 7MRKETSVI QERYJEGXYVIVW .SYVREP SJ 3TIVEXMSRW 1EREKIQIRX 
 
Reproduced with permission of the copyright owner. Further reproduction prohibited without
permission.

Vous aimerez peut-être aussi