This research focuses on the study of sustainable management practices, a bee management that adopted 23 elements of previous studies in one oil exploration and production company listed on the Thai Stock Exchange. This study therefore adopts Avery and Bergsteiner's concept of sustainable management, which has been supported by previous studies as a relevant approach to corporate sustainability in Thailand. The study examines the business practices of a listed Thai oil exploration and production company to determine whether there is a match between sustainable management practices and those of the selected case company.
To define the fit, the literature on sustainable leadership in Thailand is reviewed in Chapter 2. In Chapter 3, the research methodology applied to the study of the concept of sustainable leadership is explained, including how to collect and analyze data. According to Avery and Bergsteiner (2011), sustainable leadership is a management approach that aims to deliver better and more sustainable returns, reduce employee turnover and promote innovation.
As the benefits of sustainable leadership over short-term profit focused have been claimed, some scholars have investigated the issue in more detail (Kantabutra & . Saratun, 2013). At the beginning, Rhineland sustainable leadership practices were introduced by Avery (2005), later "Honeybee" leadership concepts, which are more resilient and humanistic approach, were developed from Rhineland by Avery and Bergsteiner Kantabutra, 2012.
Summary of the Findings of Previous Studies
According to Avery and Bergsteiner (2011), as a primary step for Honeybee leadership development, a company can implement core practices whenever management wants to. The company is considered to have characterized Rhineland as a company that focuses on the interests of a wide range of stakeholders and takes an extremely long-term perspective by investing in its future and does not seek to increase short-term profitability for its owner alone. In addition, social and environmental responsibility and ethical behavior are deeply rooted in the company's culture.
Furthermore, employees are the most important assets to the company, as evidenced by the fact that employee retention is quite high, promotion from within is preferred, there is no dismissal policy and further research is supported. Together with strong organizational cultures in product innovation, social responsibility and ethical behavior, the company strongly represents sustainable leadership practices in business. The company represented several long-term strategies for future growth, such as corporate restructuring, innovation, R&D, knowledge management, etc.
According to Kantabutra (2012), the research observations and interviews revealed that True Corporation adopted 22 of the 23 elements for Honeybee's leadership practice and one element (2. Labor Relations: Collaboration) was found to be 'not applicable' because the company did not represent the employee union . As the company was going through many important changes, practical actions were needed to support these in a long-term approach.
Areas for Future Research
A Research Question
RESEARCH METHODOLOGY
For example, what do you mean by saying so, can you be more specific about it, etc. Then the interviewer should continuously ask probing questions for additional information until the respondent indicates that he/she has nothing to say on the subject.
Thai Listed Petroleum Exploration and Production Enterprise
FINDINGS
- Developing people: grow their own
- Labor relations: cooperation
- Retaining staff: strong
- Succession planning: strong
- Valuing staff: strong
- CEO and top team: top team speaker
- Ethical behavior: an explicit value
- Long-or short-term perspective: long-term
- Organizational change: considered process
- Financial markets orientation: challenge them
- Responsibility for environment: strong
- Social responsibility (CSR): strong
- Stakeholders: broad focus
- Vision’s role in the business: shared future
- Decision making: consensual
- Self-management: strong
- Team orientation: strong, self-governing
- Culture: strong
- Knowledge sharing and retention: strong
- Trust: strong
- Innovation: strong
- Staff engagement: strong
- Quality: high is a given
Firstly, the company provides the scholarship to the students of high school, university and even the current staff to continue the study in the field related to petroleum exploration, such as geology or geophysics, and the company did not demand of the students of the program they If they want to work for them after graduation, they have the opportunity to choose the workplace themselves, but it is limited to petroleum exploration and production companies in Thailand. Later, the training requirements for the current and next year are reviewed by management to provide the best support for their subordinates' performance and contribution to the company. This method makes the employee feel proud and valuable towards the company, according to an interview with a number of managers who have already received the awards.
This may be due to the fact that the support function was hired by a subsidiary of the company with fewer benefits compared to the parent company. Evidence has shown that this oil exploration and production company cares about employee well-being by offering attractive packages and benefits to employees. According to the Corporate Governance Guidelines, in terms of practical actions, staff should answer the following questions before taking any action; Is it the right thing to do?, Is it acceptable in society/public?, and Does it cause a negative reputation for the company.
One of the shareholders said that "I decided to buy their shares not only because they pay the attractive dividend, but also the fact that the way they do business is quite clean, because usually the shareholder will question a lot during the annual shareholders meeting and the company. usually take action according to the comments and suggestion from us". Because the systems and processes change, i.e. from Oracle and Maximo systems to the SAP system, the XXXXX value,. In addition to the environment, does the firm, apart from the reports and procedures before carrying out the operation, also pay attention to the issue of global warming and greenhouse gas emission.
Inside the company, there are many committees such as Procurement Committee, Risk Management Committee, Drilling Committee and Management Committee, depending on the issues concerned. Due to the fact that this company has a horizontal organization, the company consists of many departments from several departments. In the event, the presentation in poster and stage will be delivered by the employees, and the content will be in a wide range of soft skills for the right operation.
As part of this event, both poster presentation speaker and participant, this event provides a great opportunity for the staff to present the learning and practical processes/practices to the outsiders, as well as promote the positive reputation for the company. The award will be given to the excellent presentation judged by the committee of departments concerned. For this company, technology is another important factor to worry about according to the nature of business, innovation then becomes one of corporate values.
However, some of the innovative products or processes are limited to the technical function, such as geology or engineering. Generally, the company will transport and sell the oil production to the main company as Business-to-Business (B2B) trade, so there is no direct customer apart from the main company.
DISCUSSION AND CONCLUSION
Financial markets orientation: challenge
Even this petroleum exploration and production company is a publicly traded company as well as the conglomerate True Corporation and SCG. The level of conformity is different: 'most evident' for the previous studies and 'moderately evident' for the current case. The level of compliance that is 'most evident' in the petroleum exploration and production enterprise is comparable to that of Sa Paper Preservation House, the conglomerate and. Most companies in past and current studies represent the “most evident” for this element.
In line with other Rhineland/Heuningby enterprises, this petroleum exploration and production firm demonstrated the 'most clear' for stakeholder focus. For this element, the current study finding showed the similarity as 'most clear', as well as in Thailand's oldest university, the conglomerate and True. This petroleum firm also develops the current mission and vision under management team like Thailand's oldest university.
For this element, the practice in this oil company is "moderately obvious" as in Thailand's oldest university, the conglomerate True Corporation, Bathroom Design and SCG. In contrast to other companies in previous studies, the oil exploration and production company has the 'least obvious' to staff as self-governing, while the others were found to be 'moderately obvious'. Unfortunately, the degree of conformity for the self-management team in this oil company is according to the previous element 'least evident', the correlation is shown in the case studies of Honeybee as the oldest university in Thailand, conglomerate and True Corporation as well ('moderately evident' ' in self-management and team orientation).
Like other Honeybee corporations in previous studies, this petroleum company embedded a set of core values in the shared culture in the company as 'most obvious', the same as Thailand's oldest university, the conglomerate and True Corporation. The level of agreement in the previous studies is consistent with this petroleum enterprise ('most clear'). This petroleum exploration and production company also has 'Corporate Knowledge Management' as a division to promote it strongly in the corporate culture, KM personnel are well trained to support KM activities throughout the firm, especially in individual.
Unlike other Honeybee companies, the level for this element for the petroleum company was only “moderately clear” due to company size, while others are “most clear.” Most previous studies show that Rhineland and Honeybee companies develop innovation as 'most evident', while current research shows that this is 'moderately evident'. Both the previous and the current study show that the similarity in conformity level for this element is 'the most evident'.
Recommendations
Organization change: considered process
For this element, the petroleum company has already planned and prepared in advance for the uncertainty and change, but the firm can improve the performance by encouraging staff harder during the change process. In addition, providing more explanation and explanation for the change, as the conglomerate management did, can also motivate staff. Thai listed petroleum exploration and production has shown the good practice in this element to maintain the dividend payout rate the same as the practice in the conglomerate and SCG.
To improve this element, the company can continue this practice as the positive reputation also comes from this practice. This Thai listed petroleum company demonstrated consensus decision-making in management committee meetings during normal business operations, but decision-making in the small division can be improved by encouraging it. In this area, the petroleum company can improve performance by instilling trust in important cultures for the company, such as Thailand's oldest university, which has several core values strongly embedded in its workforce, resulting in the desirable value remaining with the company as a corporate norm or culture.
For this element, the listed petroleum company can also implement the tools such as R2R in Thailand's oldest university in its business, and expand the innovation to some other business functions, not only in core business areas is also alternative.
Quality: high is given
Then the recommendation would be to implement the staff union to get a neutral party among employees and top management for neutral benefit in the overall company.
Conclusion
