Sufficiency Economy and Creation of Shared Values in an Organization

Abstract

“Sufficiency economy” is a philosophy that stresses the middle path.  Three principles -moderation, reasonableness and self-sufficiency - along with the conditions of ethics and knowledge can be applied in practice. To achieve a balanced and sustainable development, key leaders play a major role in driving the philosophy of sufficiency economy and push it firmly into practice using shared values of the sufficiency economy philosophy as a guiding employee behavior with all going in the same direction.  The successful way to create shared values ​​in the organization is to specify it in line with the vision and mission of the organization.  The strategy and implementation of the plan for creating shared values is then developed for mutual understanding among all employees.  The strategic plan is implemented by integration of values into a comprehensive management system. Employees at all levels are encouraged to participate in and comply with the shared values ​​of the sufficiency economy philosophy.  The evaluation ​​and the feedback are necessary in order to improve efficiency while continuously helping to boost employee performance values​​.  It ultimately leads to organizational growth in self-sufficiency and sustainability.