Sufficiency Economy Philosophy: A Way towards Business Sustainability

Main Article Content

ศิริพรรณ จีนะบุญเรือง

Abstract

Business Economy Philosophy has been adopted in individuals, communities, private sector and nations. Many business owners perceived that Sufficiency Economy Philosophy is only for individuals and agricultural sector.  For business sector, they tend to expand their business for more profit, which is similar to the concept of Anglo/American that consider primarily on shareholders.  To make a business survive and success, it requires many factors such as money, knowledge, human resources and a good management.  Furthermore, business stakeholders such as suppliers, competitors, communities and society are also important for its success, which means that business needs to consider about the well-being of their stakeholders in order to make the business success and sustainable, which is similar to the concept of Rhineland and Sufficiency Economy Philosophy. The core of this philosophy is to guide people to live their lives in moderation, reasonableness and self-immunity. Business organizations in different industries implement Sufficiency Economy Philosophy practices differently. This article presents Sufficiency Economy Philosophy as an approach to sustainability for business sector in Thailand.  The article will discuss the concept of SEP and the implementation of SEP in business.

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How to Cite
จีนะบุญเรืองศ. (2019). Sufficiency Economy Philosophy: A Way towards Business Sustainability. Journal of Management Science Chiangrai Rajabhat University, 13(2), 1-13. Retrieved from https://so03.tci-thaijo.org/index.php/jmscrru/article/view/122701
Section
Academic Articles
Author Biography

ศิริพรรณ จีนะบุญเรือง, มหาวิทยาลัยแม่ฟ้าหลวง

Ph.D. candidate, Doctor of Philosophy in Business Administration, Mae Fah Luang University

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