Part V is about the application of sufficiency thinking to business. Some within the business community believe that while the Sufficiency Economy Philosophy may lend itself to farming, community develop- ment and government, it does not have much relevance to business.
Chapter 11 reveals how a small, highly successful company, Nithi Foods follows Sufficiency Economy Philosophy practices. This is consistent with other research in Thailand about successful SMEs that adopt sufficiency principles. The chapter takes the reader step by step through the Sufficiency Economy Philosophy model, showing how it is applied at Nithi Foods.
Chapter 12 shows how one of Thailand's largest conglomerates, SCG, follows sufficiency principles with great success. SCG is a leading player in ASEAN and a role model for sustainable development, as indicated by its being the leading company in its sector on the Dow Jones Sustainability Index. Sufficiency thinking is deeply ingrained in SCG's management and policy practices, starting with its strong focus on virtues via the company's core values.
Chapter 13 dispels the myth that business has to be run on the approach of maximising short-term shareholder value, and that a human-centred sufficiency approach is not applicable to this sector. This chapter illustrates research findings with many applications and practical guidelines for Thai managers seeking to follow sufficiency Economy Philosophy principles.