An organization’s innovation-based orientation creates innovation and is important to business growth.  Development of human resources and new products are determined in terms of mediation between knowledge base and business growth.The subjects here consist of local firms from various industries operating in Thailand. The Structural Equation Model (SEM) is used to discover the link between variables in the framework and two mediators. The results indicate that knowledge base has a significant effect on both human resources management and new product development. Consequently, these two wield great influence on business growth.