Sufficiency Economy Philosophy in Fostering Agricultural Enterprise Well-being: A Case Study from Thailand
摘要
Globalization has spurred rapid transformations across various aspects of human life, encompassing tangible and intangible dimensions. The corporate sector significantly impacts a company’s operations, including consumption and production. Furthermore, business activities have implications for various stakeholders, necessitating an intricate balance between economics, society, and the environment. As such, exploring alternative economic approaches to support corporate sustainability is necessary. This study applied the sufficiency economy philosophy (SEP), introduced by Thailand’s King Rama IX, in decision-making processes and its integration within company operations. Grounded in a middle-way approach, SEP can propel businesses toward sustainable development. This chapter evaluates the critical characteristics of agricultural enterprises incorporating SEP into management practices through a three-case study approach. We link the results from SEP-integrated enterprises to an improvement in the well-being of stakeholders, particularly employees, and the enhancement of self-sufficiency in areas such as energy consumption and food production. We conclude by emphasizing that SEP can guide the business sector toward aligning with sustainable development goals while becoming inclusive firms.