Applying the Sufficiency Economy Philosophy in Organizational Management During Energy Price Crisis and Global Economic Recession

Abstract

This article contends that applying the Sufficiency Economy Philosophy (SEP) to organisational management offers a resilient and effective response to the global energy price crisis and economic recession. Through a systematic literature review, case study analysis of high-performing organisations, and the integration of philosophical concepts with contemporary management theory, the study demonstrates the strategic value of SEP. The findings indicate that organisations implementing the three core principles of SEP—moderation, reasonableness, and self-immunity, supported by knowledge and virtue—are significantly better equipped to manage crises. By moderating energy costs, employing strategic reasoning, and self-insuring through risk diversification and renewable energy, these organisations outperform those that rely on conventional management approaches during periods of global energy price volatility. The article asserts that the SEP-Crisis Management Framework provides a practical and integrated approach to managing organisational risk, human resources, and long-term sustainability during crises. By aligning SEP with Environmental, Social, and Governance (ESG) criteria and global sustainability standards, the article highlights SEP's significance as both a Thai innovation and a universally applicable management strategy during periods of global uncertainty.