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CMMU Researchers on Sustainable Enterprises

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A team of CMMU researchers, comprising of Asst. Prof. Dr. Sooksan Kantabutra, Asst. Prof. Dr. Vichita Ractham, Dr. Pornkasem Kantamara and Asst. Prof. Dr. Nathasit Girdsri, with two fellows from Sasin and Ubolrajathani University, has successfully delivered their research presentation on Sufficiency Economy Leadership Practices at Thailand Research Fund (TRF) on November 10.  Sufficiency Economy Leadership practices, including HR practices, are identified from over 350 listed and non-listed sustainable enterprises both in Asia and elsewhere.

The project is supported by TRF.  Among the audience are Thailand's top executives such as

  • Dr. Ajva Taolanond, CP Group Vice Chairman
  • Ms. Kobkarn Watanavarangkoon, Toshiba CEO
  • Ms. Anurat Tiemtan, Tipco Chairwoman
  • Ms. Saowanee Limanond, True Group Director of CSR 

Leading academics are also present, including Professor Dr. Apichai Puntasen, Professor Dr. Aree Wiboonpong and Dr. Silaporn Bausai, TRF Deputy Director.

The research concludes that ten leadership practices are needed if an enterprise wants to have an ability to sustain its organizational success.  They are as follow.

  • Adopt a long-term perspective to management and decision-making. Do not manage for short-term gains only, but consider cause and effect in the long run.
  • Genuinely value and continuously develop human resources. Avoid laying off employees even in times of economic difficulty, but consider them as an investment.
  • Earnestly take concern in and be accountable for a wide range of stakeholders, including the society, the environment and future generations. This often suggests stakeholders' involvement in business decision-making and social contribution.
  • Nurture both incremental and radical innovation throughout the entire organisation, including products and processes. This often means promoting cross-functional teams.
    Utilize resources effectively and efficiently.
  • Adopt/develop effective and appropriate, but not expensive, technology. Usually, this technology is developed from local materials and wisdom.
  • Expand business because of its actual growth, as opposed to a surge in market demand. This often means a careful and gradual expansion that is not beyond one's capability to manage.
  • Carefully diversify products that the business has competency to develop, as well as markets and investment portfolios, to minimise risks.
  • Share knowledge to develop the market. This often means knowledge-sharing with competitors because doing so helps develop the market to benefit consumers.
  • Develop a strong organizational culture with ethics, perseverance, deligence and innovation as underlying core values.