PRINCIPLE OF MIDDLE PATH APPLICATION AND BUSINESS MANAGEMENT TO STRENGTHEN SUSTAINABILITY

Abstract

The concept of conducting business with integrity is what business organizations have tried to implement to maintain long term sustainability. The major moral principle that has been used for business management is Principle of Middle Path Application consisting of the following: Samma Thiti (Agreement), Samma Sanggapah (Consideration), Samma Vaja (Vocal Expression), Samma Gammantha (Performance), Samma Archeewa (Livelihood), Samma Sathi (Awareness), Samma Vayama (Perseverance) and Samma Samathi (Concentration). The Principle of Middle Path and business management consist of production management in which entrepreneur has Samma Thiti agreeing to the approval of good treatment with no malicious intents towards consumers. Samma Sanggappah means having good intentions without thinking of harming or taking advantage of others. Business must produce goods that are safe both in design and production. Samma Vayama with consumers means making an effort to develop an effective operation process. For marketing, entrepreneur must have Samma Vaja enabling good negotiation in a progressive manner that will not lead to problems for consumers. Samma Gammantha means conducting marketing operation with fairness and integrity, consideration for others, good behavior and honesty for consumers by providing truthful information. With Samma Vayama, entrepreneur has determination to effectively improve and develop production process. For human resource management, entrepreneur must have Samma Sanggapah meaning having only positive thoughts and no prejudice towards staff, Samma Gammantha meaning good governance toward staff and Samma Vaja meaning cordial verbal expression wih staff. And for finance management, entrepreneur must have Samma Archeeva meaning creating a financial plan that must result in profitable investment as well as maximum business growth. With honesty, entrepreneur must have Samma Sathi which can be achieved through careful financial planning. Lastly, Samma Vayama is represented through the determination of conducting business that constantly generate steady income for the business.