However, there are still not many approaches that enter and study in the Thai context. Many companies around the world are facing the global financial crisis and are looking for an alternative to maintain their business. In economic terms, capital refers to 'factors of production used to create goods or services that are not important in themselves.
Along with the importance of capital in the economic perspective, man is the subject to take responsibility for all economic activities such as production, consumption and transaction. The sufficiency economy philosophy is based on the development of Buddhism in the creation of sustainable development through the integration of the physical, social and spiritual dimensions, which is based on three principles: moderation is necessary for necessary for adequate protection of internal and external shock through planning and implementation, reasonableness is the application of knowledge through wisdom and prudence, and self-immunity strengthens the community to deal with negative impacts caused by external events, which is globalization. Other approaches emphasize only particular elements that lead in the same direction as long-term sustainability.
These elements are arranged in the form of a pyramid which divides into 3 levels of practices. It contains five performance outcomes that come from the 23 elements of the different levels in the pyramid.
The previous studies on Rhineland and Honeybee Leadership
Benefits of staff development make the companies have strong organizational cultural in some respects, such as staff retention, family administration. All companies focus on sharing vision, values and beliefs with their employees and realize the importance of the effort and support of their employees. Therefore, they are able to survive through any crisis, because a strong bond of loyalty and maintain in the long term.
Research and development is the method that every company uses to create innovations such as value products, services, processes and new business model. Rhineland organizations always teach their staff to be aware of environmental considerations and the welfare of society. In the case of Mulberry, although their materials are directly from natural and they strictly respect nature in many ways.
They have trained their people well to be fair to all parties and take concrete action on agreements and contracts, state law and regulations, including corruption. Some companies impose strict penalties if their employees are found not to be doing the right thing. Employees are encouraged to be good citizens for the benefit of the community. Because Sustainable Leadership has received support in Thailand as an approach to ensure corporate sustainability and no research has been conducted on the construction industry in Thailand, the current study uses Honeybee Leadership.
Recommendations to improve the business practices so that the business can be more sustainable will also be provided.
METHODOLOGY
Don't let your company ever face a financial problem that causes product quality to decline. The sample is convenient because the interviewees are one CEO, one HR manager, one employee and one customer who are willing to participate in the study. Kantabutra and Avery, 2011; Kantabutra, 2011), honeybee leadership is adopted as a framework for data collection and analysis, as shown in the table below.
Retention of staff – Company always sees their staff as the heart and soul of the organization and tries to retain them in the long run even when they face tough economic times. According to Honeybee approach, everyone in the company should have equal right, including CEO who is not inclined to be a hero for company or decision maker. Vision's role in the business - Basically, each staff must know their own vision that will tell about the future of the company and can also share.
Team Orientation - Staff from all departments in the company are able to coordinate with each other when there is a related task to collaborate across departments. Culture – Employees are able to broadly share the company's value such as innovation, quality and social responsiveness and also deliver the firm's core value to the customer for better profitability. Knowledge sharing and retention – Company knowledge is allowed to be shared with staff that would be useful and appropriate.
Trust – Employees trust each other in the company in all departments and are willing to work together.
FINDING
One of the company's policies is training programs to continuously improve their people skills. The training program policy is that each staff must participate at least 3 hours per month to meet the KPI standard of the company. However, the training is provided more in junior staff so that they can grow perfectly in the company.
The company provided good training, I gained many skills that could improve my working career. Basically, we focus on human resources as the heart and soul, because if the staff can survive, then the company is also alive. The company has never published a policy on laying off its staff when faced with many crises.
Since the result after the economic turnaround is more stable, the company is easily redistributed and is able to obtain ISO 9001. Concern for quality - engineer's expertise - met the customer's need - efficient time management - continue to develop "company slogan. In addition, the company is bidding for an international project in Myanmar, which will be an initial step.
The company currently does not have much social responsibility activity, but they are willing to continue this in the future. In addition, I would like to say something about the relationship between suppliers and consultants with the company. The company emphasizes on spreading the company's vision to all employees through verbal communication and company signage.
Therefore, the company has given full response and self-management in each of their work areas. I would describe the company's culture as their slogan, which placed itself prominently at the entrance to the office building. The company emphasizes on sharing this from existing generation to new generation among the company.
RECOMMENDATION
From my point of view, although the company provides quite good social assistance to its people, I would suggest the company to provide more extraordinary normal social assistance compared to other companies, such as the best performance bonus after they complete a single project exceeding the PQP target and customer satisfaction as a reward. For “CEO and top team” and “decision-making”, I would suggest that the CEO is more familiar with the operational levels and involves them in all decision-making levels because this could lead to an innovative solution according to the perspectives of the new generation. These suggestions would implicitly increase the value of “staff engagement” because they will increase more relationships and reduce stress in the company for both the CEO and the organization.
Moreover, these will gain positive perspective for employees and ready to satisfy more for the organization without thinking about compensation. I would describe "knowledge sharing" as a fairly old method of how they hold company knowledge and little concern for sharing. Although, they have no manufacturing process and depend on suppliers to provide innovative products, they can probably start investing in the R&D division to improve this element.
Innovation is not just about producing, but about the system within the company that will guide them more in terms of efficiency management, such as the recommendation on knowledge sharing above. Overall I would say that the good result in this industry does not have much to do with quality as this is solved by the PQP, but what can be improved is time management. By combining all the above recommendations, I believe they will lead the company to a more accurate work process and a more efficient outcome as a result to fulfill all stakeholders.
DISCUSSION
All the previous studies are also mainly concerned with the human resource and take it as a core value of the companies. They provided a lot of training to their staff and willing to grow their own people by promoting. The vision of the company is to improve the achievements and become the leader of the construction industry in Thailand with emphasis on quality, time management and transparency.
The company's emphasis on their vision is able to deliver to employees and practical use in realistic. It is very similar to the Bathroom Design Company case about how they treat the staff. The company rarely cares about innovation and it doesn't seem like any motivation for them to be different from the competition.
As they think that the company has no production process and destroys the idea of innovation. According to the analysis of the table, the results in these two elements are less obvious, which means that the company is not very concerned about social and environmental responsibility. The company still uses materials that harm the environment and offer less to add more value to their society.
Compared to studies, everyone takes it as a core value of their company. I would take two case studies namely True Corporation and Bathroom Design Company. Bathroom Design operates with the philosophy that a company must demonstrate a keen sense of responsibility towards the best interests of its stakeholders.” Bathroom Design Company.
The company believes that this core value will make them maintain long-term sustain.
CONCLUSION
