ABSTRACT
This chapter discusses challenges facing the adoption of sufficiency thinking in Thai businesses, cites relevant studies concerning the Sufficiency Economy Philosophy’s applications to business, and deals with concrete recommendations for businesses seeking to follow a sufficiency path. It explains how five specific predictors link to different kinds of benefits for a firm. Predictors are: geosocial orientation, broad stakeholder focus, perseverance, moderation and prudence. The College of Management at Mahidol University, a major research university in Thailand, is an exception as it has attempted to integrate business applications of the Sufficiency Economy Philosophy in its curriculum since 2004. Prudence suggests continuous development of products, processes and services that brings about better, often socially and environmentally friendly, products and services for customers. Underlying business practices are explained, with a view to guiding managers in how the Sufficiency Economy Philosophy can assist the business.
