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Article

Kallaya Jairak, Prasong Praneetpolgrang and Pilastpongs Subsermsri

The purpose of this paper is to develop a formal set of information technology (IT) governance practices based on sufficiency economy philosophy (SEP) to support the…

Abstract

Purpose

The purpose of this paper is to develop a formal set of information technology (IT) governance practices based on sufficiency economy philosophy (SEP) to support the generic context for Thai universities.

Design/methodology/approach

The research methodology in this study is divided into two main phases that are conceptualization and operationalization. In the phase of conceptualization, the authors reviewed literature related to the implementation of IT governance in universities and the principles of SEP in order to conceptualize an initial idea of IT governance on the basis of SEP. In the phase of operationalization, the authors performed in-depth interviews with the CIOs of 20 universities, five IT experts, and five SEP experts in order to verify the proposed concept.

Findings

This study provides two key findings: the IT governance practices based on SEP for Thai universities and the mapping of IT governance practices based on SEP with ISO/IEC 38500.

Practical implications

The total of 65 practices presented in this study can be used as a guideline for handling of IT governance issues in Thai universities.

Originality/value

This study provides university IT governance practices based on the principles of SEP that is widely accepted and highly appreciated in Thailand.

Details

Information Technology & People, vol. 28 no. 1
Type: Research Article
ISSN: 0959-3845

Keywords

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Book part

Gordon Boyce, Wanna Prayukvong and Apichai Puntasen

Social and environmental accounting research manifests varying levels of awareness of critical global problems and the need to develop alternative approaches to dealing…

Abstract

Social and environmental accounting research manifests varying levels of awareness of critical global problems and the need to develop alternative approaches to dealing with economy and society. This paper explores Buddhist thought and, specifically, Buddhist economics as a means to informing this debate. We draw on and expand Schumacher's ideas about ‘Buddhist economics’, first articulated in the 1960s. Our analysis centres on Buddhism's Four Noble Truths, the Noble Eightfold Path and associated Buddhist teachings. The examination includes assumptions, means and ends of Buddhist approaches to economics; these are compared and contrasted with conventional economics.To consider how thought and practice may be bridged, we examine a practical application of Buddhism's Middle Way, in the form of Thailand's current work with ‘Sufficiency Economy’.Throughout the paper, we explore the implications for the development of social accounting, looking for mutual interactions between Buddhism and social accounting thought and practice.

Details

Extending Schumacher's Concept of Total Accounting and Accountability into the 21st Century
Type: Book
ISBN: 978-1-84855-301-9

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Article

Sooksan Kantabutra

This study aims to measure the Thai approach of corporate sustainability. In the corporate world, the Thai philosophy of Sufficiency Economy can be applied to ensure…

Abstract

Purpose

This study aims to measure the Thai approach of corporate sustainability. In the corporate world, the Thai philosophy of Sufficiency Economy can be applied to ensure corporate sustainability. Derived from the literature, a structural model expressing relationships between six independent variables of Sufficiency Economy indicators and three dependent variables of sustainability performance outcomes is formed accordingly, followed by hypotheses to be tested.

Design/methodology/approach

The model is tested through a random sample of 294 chief executive officers (CEOs) in Thailand who were asked to respond to a questionnaire. Factor and regression analyses are adopted to test the hypotheses.

Findings

Findings indicate that “perseverance” and “resilience” are two direct predictors of three sustainability outcomes of the firm’s enhanced capacity to deliver strong performance, endure social and economic crises and deliver public benefits. “Geosocial development” is a direct predictor of firm’s enhanced capacity to deliver public benefits and an indirect predictor of firm’s enhanced capacity to deliver strong performance and to endure social and economic crises. “Moderation” is an indirect predictor of the firm’s capacity to endure social and economic crises, while “sharing” is an indirect predictor of all three sustainability performance outcomes.

Practical implications

Small- and medium-sized enterprises business leaders should develop a “perseverance” culture in their organizations and practice “resilience” to enhance their corporate sustainability prospect. Moreover, they should adopt “geosocial development”, “moderation” and “sharing” practices in their organizations, as these practices positively affect corporate sustainability performance directly or indirectly.

Originality/value

This study is among the first few studies that identify corporate sustainability performance predictors.

Details

Measuring Business Excellence, vol. 18 no. 2
Type: Research Article
ISSN: 1368-3047

Keywords

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Article

Muttanachai Suttipun

The purpose of this paper is to investigate the extent and pattern of the sufficiency economy philosophy (SEP) reporting of listed companies from the Stock Exchange of…

Abstract

Purpose

The purpose of this paper is to investigate the extent and pattern of the sufficiency economy philosophy (SEP) reporting of listed companies from the Stock Exchange of Thailand (SET) between 2012 and 2016, and to compare the SEP scores of reporting in the companies’ corporate annual reports during the period studied and between four groups of interest, based on ownership status, country of origin of company, type of auditor and type of industry.

Design/methodology/approach

Listed companies of the SET were used as the population, whereas a sample of 70 firms was investigated in the study. Content analysis by checklist was used to quantify the extent and pattern of SEP reporting in annual reports.

Findings

The results showed that the average score for SEP reporting was 44.28 out of a possible 64 categories of reporting included in the checklist. Moreover, there was a significant increase in the SEP reporting score during the period studied. The results also indicated that there was a significant difference in the SEP reporting scores between groups, based on country of origin, auditor type and industry type.

Originality/value

As the first longitudinal study of SEP reporting in Thailand, the study demonstrated the effective rule of SET to Thai listed companies providing higher voluntary information reporting during period being study.

Details

Asia-Pacific Journal of Business Administration, vol. 11 no. 2
Type: Research Article
ISSN: 1757-4323

Keywords

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Article

Nisada Wedchayanon and Sunisa Chorkaew

The purpose of this paper id to examine the successful community development by enabling people to help themselves so that they could increase their career opportunities…

Abstract

Purpose

The purpose of this paper id to examine the successful community development by enabling people to help themselves so that they could increase their career opportunities and recover the fertile natural environment previously lost through overstraining the local ecosystem. Sustainability is of central importance for many countries in the world. Especially developing countries need to strive for sustainability and continuity in their economic, social and political systems. This paper aimed at identifying sustainable human resource development in relation to the Huay Sai Royal Development Project initiated by His Majesty the King Bhumipol Adulyadej of Thailand as a case study.

Design/methodology/approach

This study was a case study. Data were collected from documents, interviews and project visits. Then, the analysis was made by document analysis and observation during the study visit, and the information from the interviewees was recorded and transcribed in the Thai language. Some information from the interviews was then added to the analysis to confirm the case that the project had generated sustainable development and encouraged a better life for the local people.

Findings

It was found that the nature of people development for sustainability in the project was based on two central themes: people-centered development and whole system-focused development. People-centered development aims to make people succeed in their life. The latter theme aims at helping people become social beings that are willing to place societal concerns before personal interests. This reflected the eastern approach of people development, which puts people and their mindset at the center of development. Other findings pertaining to the methods of people development showed that action learning was a central method of development.

Research limitations/implications

The Sufficiency Economy and people-centered development served as an alternative development path, pursuing balanced growth based on development from within and on the accumulation of knowledge. The main thrust emphasized development from within, self-protection, conservation, caution and moderation, which called for the sustainable use of resources and concern for the social and environmental impact of economic decisions. This contributed to the action learning approach that the success of the project was not only economic returns but also the learning process to which the people engaging in dialogue could share their problems and develop solutions for themselves and for each other.

Practical implications

There were three key success factors that can be seen in the case. First, the development approach was aligned with the lifestyle and local wisdom of the people. Second, this project promoted step-by-step development, beginning with building a good basis for the people at the individual level. Lastly, the initiation of the project stemmed from an in-depth study of the problems in the area and action research, with a closely coupled monitoring system by which feedback was always fed into the study center.

Social implications

It could be noted that the Sufficiency Economy and people-centered development served as an alternative development path, pursuing balanced growth based on development from within and on the accumulation of knowledge. The main thrust emphasized development from within, self-protection, conservation, caution and moderation, which called for the sustainable use of resources and concern for the social and environmental impact of economic decisions.

Originality/value

The Sufficiency Economy strengthened sustainability as a goal and means of development; the ultimate goal of the development was to develop people to help themselves to become self-reliant. The means of this development were participatory development through a wide variety of methods and the use of local knowledge as a basis for cultivation. Sharing knowledge made people feel more empowered and encouraged them to change their basic attitudes and behaviors. Once people changed their mindset, they became able to enhance their potential. They also had the power to make choices in their life.

Details

European Journal of Training and Development, vol. 38 no. 9
Type: Research Article
ISSN: 2046-9012

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Article

Muttanachai Suttipun

The purpose of this paper is to investigate the nature and level of Sufficiency Economy Philosophy (SEP) disclosure in the annual reports of companies listed in the Stock…

Abstract

Purpose

The purpose of this paper is to investigate the nature and level of Sufficiency Economy Philosophy (SEP) disclosure in the annual reports of companies listed in the Stock Exchange of Thailand (SET), to test the influence of corporate governance on SEP disclosure, and to examine the influence of corporate governance, and SEP disclosure on corporate financial performance.

Design/methodology/approach

By simple random sampling, 235 out of 569 companies in the SET were selected as the study sample. Content analysis by word count was used to explore the nature and level of SEP disclosure in the 2015 annual reports. Descriptive analysis and path analysis were used to analyze the data.

Findings

The results indicated that the average level of SEP disclosure in the 2015 annual reports was 1,235 words. The most common theme of SEP disclosure was morality disclosure following by reasonableness, self-immunity, knowledge, and moderation disclosures. There was a positive significant influence of firm size on level of SEP. Moreover, there was a positive significant influence of the level of SEP, and the size of committee on corporate financial performance.

Originality/value

The findings shed light on the SEP as developed by his Majesty the King Bhumibhol Adulyadej in the Thai setting. The study also endeavored to validate the relevance and applicability of the SEP concept to the sustainable development of the business sector.

Details

Asia-Pacific Journal of Business Administration, vol. 10 no. 1
Type: Research Article
ISSN: 1757-4323

Keywords

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Book part

Shoko Yamada

This chapter highlights the characteristics of Asia through the analysis of policy-related documents by five donor countries, namely Japan, South Korea, China, India and…

Abstract

This chapter highlights the characteristics of Asia through the analysis of policy-related documents by five donor countries, namely Japan, South Korea, China, India and Thailand. It will also examine the roles played by regional bodies such as the Southeast Asian Ministers of Education Organization (SEAMEO) and ASPBAE (the Asia South Pacific Association for Basic and Adult Education) as the horizontal channels influencing aid policies in respective countries. Together with the analysis of the national and organizational policies, the regional process of building consensus on the post-2015 agenda is examined, with a particular focus on the Asia-Pacific Regional Education Conference (APREC) held in August 2014.

The analysis reveals that the region has two faces: one is imaginary and the other is functional. There is a common trend across Asian donors to refer to their historical ties with regions and countries to which they provide assistance and their traditional notions of education and development. They highlight Asian features in contrast to conventional aid principles and approaches based on the Western value system, either apparently or in a muted manner. In this sense, the imagined community of Asia with common cultural roots is perceived by the policymakers across the board.

At the same time, administratively, the importance of the region as a stage between the national and global levels is recognized increasingly in the multilateral global governance structure. With this broadened participatory structure, as discussed in the chapter ‘Post-EFA Global Discourse: The Process of Shaping the Shared View of the ‘Education Community’’, the expected function of the region to transmit the norms and requests from the global level and to collect and summarize national voices has increased.

Details

Post-Education-Forall and Sustainable Development Paradigm: Structural Changes with Diversifying Actors and Norms
Type: Book
ISBN: 978-1-78441-271-5

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Article

Wanna Prayukvong, Nara Huttasin and Morris John Foster

The purpose of this paper is to demonstrate that both leisure and sustainability objectives can be achieved via Buddhist economics informed agritourism. Buddhist economics…

Abstract

Purpose

The purpose of this paper is to demonstrate that both leisure and sustainability objectives can be achieved via Buddhist economics informed agritourism. Buddhist economics differs significantly from mainstream (neoclassical) economics in its ontological underpinning. This means that assumptions about human nature are different: the core values of mainstream economics are self-interest and competition in the pursuit of maximum welfare or utility; while in Buddhist economics, “self” includes oneself, society and nature, which are all simultaneously interconnected. The core values of Buddhist economics are compassion and collaboration through which well-being is achieved, leading to higher wisdom (pañña). Because of this, the interconnectedness of activities and relationships, even those not initially obviously so linked, is crucial.

Design/methodology/approach

The theoretical argument is illustrated by a pilot study of an agritourism, package tour to visit the properties of Thai farmers involved with a project known as “running a one rai farm to gain a one hundred thousand baht return”. The research is exploratory in character.

Findings

A result of this study is to reveal agritourism as a significant market channel to promote sustainable agriculture.

Originality/value

Agritourism can be considered an instrument for rural development with its contribution to positive economic impacts, providing economic opportunities to sustain financial security for the farming family, maintaining viability of the agricultural sector and local communities and creating jobs for rural residents together with sustainable agriculture.

Details

International Journal of Culture, Tourism and Hospitality Research, vol. 9 no. 2
Type: Research Article
ISSN: 1750-6182

Keywords

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Article

Phannaphatr Savetpanuvong, Uthai Tanlamai and Chidchanok Lursinsap

The use of a sustainable innovation strategy, as employed by the information technology entrepreneurships outlined in this study, has led to firm sustainability. By…

Abstract

The use of a sustainable innovation strategy, as employed by the information technology entrepreneurships outlined in this study, has led to firm sustainability. By applying the Sufficiency Economy Principle, the original model of the Innovation Strategy Tetrahedron (IST) is augmented with sustainability. Key premises for a sustainable innovation strategy include: a concern for societal and environmental impacts, fair competition and equality of stakeholder treatment as well as building long-term customer relationships with integrity, appropriate use of resources, diversification to reduce risk, and timely entrance into different market cycles. In this paper, we analyze three firms using our proposed model: the Sustainable Innovation Strategy Tetrahedron (SIST). The analysis showed that during turbulent times, the entrepreneurs with a sustainable innovation strategy were not best-in-class in terms of profitable performers; however, they had three sustainability approaches in common: to scale innovation up from within and scale innovation out through networking; to scope up on core competences in short waves of innovation and scope out for new, long waves of innovation; and to speed up innovation in a fast market cycle and maintain moderate speed in a slow cycle. The result of each firm's SIST is shown using mixed reality technology in a three-dimensional model. The visual representations reveal that the superior firm sustained its innovation through balancing scale, scope, and speed strategies.

Details

International Journal of Innovation Science, vol. 3 no. 2
Type: Research Article
ISSN: 1757-2223

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Article

Warat Winit and Sooksan Kantabutra

This paper aims to examine the relationship between stakeholders’ perceived benefits and happiness of small and medium-sized enterprises (SMEs) that follow Thai’s…

Abstract

Purpose

This paper aims to examine the relationship between stakeholders’ perceived benefits and happiness of small and medium-sized enterprises (SMEs) that follow Thai’s corporate sustainability practices, called sufficiency economy, and their impact on stakeholder–company relationship quality and firm performance outcomes.

Design/methodology/approach

Derived from the literature, a structural model, expressing the relationship between stakeholders’ perceived benefits and happiness of SMEs and their impact on stakeholder–company relationship quality and firm performance outcomes, was developed. A questionnaire survey was conducted with 636 stakeholders from sufficiency economy SMEs in Thailand. Structural equation modeling was used to test the model.

Findings

Results indicate that utilitarian benefits, and hedonic and eudaimonic happiness impact enhanced stakeholder–company relationship quality with the firm to varying degrees. Different levels of relationship quality also impact perceived corporate reputation and perceived brand equity differently.

Originality/value

This study is among the first that identifies the positive impact of happiness on corporate sustainability performance.

Details

Management Research Review, vol. 40 no. 5
Type: Research Article
ISSN: 2040-8269

Keywords

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