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Title: Business Leaders and the Sufficiency Economy Movement in Organization
Authors: Wiriyapipat, Nipa 
Issue Date: 2009
Publisher: Chulalongkorn University Printing House
University of the Thai Chamber of Commerce
Source: Nipa Wiriyapipat (2009) Business Leaders and the Sufficiency Economy Movement in Organization. University of the Thai Chamber of Commerce Journal Vol.29 No.4.
Journal: University of the Thai Chamber of Commerce Journal 
Abstract: Under the forces of globalization, business organizations today face risks and criticalchallenges arising from uncontrollable factors and rapidly changing circumstances.Consequently, business leaders are stressed, therefore, it is necessary for a balanceddevelopment strategy with the philosophy of sufficiency economy co-existing in theirorganization. This will increase their capacity and competitiveness while shieldingagainst the impact of inevitable shocks that arise from the external environment. Themain problem is the absence of confidence in utilization of this theory for planningand implementation. To achieve a balanced strategy, business leaders have to extendextreme effort to promote the application of knowledge with prudence in theirorganization. To make it practical, it is essential to adhere first and foremost to thephilosophy of “sufficiency” economy under the principles of 3 middle paths comprisingmoderation, reasonableness and a level of self-immune system. In addition, anapplication of knowledge and integrity is essential. Based on the application ofsufficiency economy in practice with reference to the areas of production, marketing,finance, human resources, society and the environment, business leaders must giveevery support while building up the spiritual foundation of all employees at all levels,Furthermore, leaders need to ensure that employees are conscious of moral integrityas individuals. Ultimately, this optimization principle will lead to awareness andbusiness sustainability.
ISSN: 0125-2437
Rights: This work is protected by copyright. Reproduction or distribution of the work in any format is prohibited without written permission of the copyright owner.
Appears in Collections:JEO: Journal Articles

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