The Implication of Thai BCG model and stakeholder pressure: a case study from the company perspective

Ruethai Onbhuddha; Seiichi Ogata; Bingying Ma

Authors

Ruethai Onbhuddha Kyoto University, Japan
Seiichi Ogata
Bingying Ma

Keywords:

1) stakeholders theory 2) sustainability business 3) stakeholder pressure

Abstract

Recently, the Thailand Bio˗Circular˗Green (BCG) model has been announced, aiming to enhance sustainable development across the nation. Businesses play a crucial role in fulfilling this mission, especially in the agriculture sector. Sustainable business management relates to various stakeholders, including the primary and secondary groups. The stakeholder pressures also influence the sustainable practices in the organization. Therefore, this study's objective is to evaluate the direct pressure of stakeholder groups on sustainable practices in the company through a questionnaire survey from employee perspectives as a bottom-up approach. This study applied a case study in the cassava-based producer company that adopted the BCG model. This research adopted qualitative and quantitative approaches for result analysis. The results showed that the suppliers and communities are significant primary stakeholder groups that drive sustainable capital. While the government, competitors, customer advocates, non-profit organizations, and media are the main drivers from the secondary group. This shows that the coercive and the normative are the main factors in integrating BCG and sustainability practices in the company. Lastly, stakeholder management is an outstanding practice in the BCG-based company. In summary, economics and society are the significant priorities to fulfill this alternative pathway to be successful in sustainability business.

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