Preface
The sufficiency economy philosophy, introduced by King Bhumibol Adulyadej of Thailand at the onset of the 1997 Asian Economic Crisis, represented an important and visionary step in suggesting directions for reshaping business and management thought and practice based on the Asian. This makes now the most opportune time to advocate for the principles of the Corporate Sustainability under the Sufficiency Economy Philosophy. The Corporate Sustainability under the Sufficiency Economy Philosophy promotes responsible business practice, where concerns of stakeholders and the public are incorporated in the strategic decision-making. It balances profit, sustainability, good governance, risk mitigation, and social responsibility while relating to Buddhism’s middlepath teaching and Thailand’s learning from the 1997 Asian Economic Crisis. This report represents a pioneering work in focusing attention on the relevance of His Majesty’s thinking to the corporate sector. It takes an important step in interpreting, developing, and framing the philosophy with respect to business and management, based on the broad theme of corporate sustainability. This book examines six case studies of how the operations of Thai enterprises in a variety of industries adopt and reflect principles of Corporate Sustainability, and provides ground work in assessing the extent to which its application may have resulted in superior performances. This study provides a starting point for a meaningful analysis and application of His Majesty’s thinking in a business context through the development of a concrete and actionable framework for assessment and use by business managers. This work can be expanded in future studies both in Thailand and beyond, that will further refine and develop the concepts, framework, instrument, and database of empirical case studies. Through experience-based research that informs business and management thought and practice, we can help strengthen enterprise performance from the wider perspective of corporate sustainability, incorporatin