CMMU Research Mentoring Presentation

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.  The model is tested through a random sample of 294 CEOs in Thailand who were asked to respond to a questionnaire.  Factor and regression analyses are adopted to test the hypotheses. Findings indicate that "perseverance" and "resilience" are two direct predictors of three sustainability outcomes of firm's enhanced capacity to deliver strong performance, to endure social and economic crises, and to 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 firm's capacity to endure social and economic crises, while "sharing" is an indirect predictor of all three sustainability performance outcomes. SME 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 since these practices positively affect corporate sustainability performance directly or indirectly.