A study of business growth and profitability of small and medium sized enterprises under the sufficiency economy philosophy model. (Thai)

Abstract

The aims of this research were to study business growth and profitability. The data was gathered from 120 SMEs participating in the Sufficiency Economy Practice Contest organized by the Office of the Royal Development Projects Board to celebrate the King's 80^th birthday. The instrument used in this research was a questionnaire. Percentages, means and standard deviations were calculated. The results of the study were that the principles of successful enterprises are: be fair and do not take any advantage of workers, consumers and suppliers (47.55%), do not stress short term profit (21.66%), and use processing methods in line with management proficiency (21.66%). In conclusion principles are (1) take profit based on moral principles and happiness rather than profit figures and (2) the businesses all showed growth in human, physical, social, and environmental capital.