Guidelines for Promoting the Small and Medium Enterprises to Apply the Sufficiency Economy Philosophy in Management to Make the Country Stable, Prosperous and Sustainable: A Case Study of Small and Medium Enterprises in Samut Prakan Province

Abstract

The purpose of this research was to study the level of understanding and level of application of the sufficiency economy philosophy to find the way to encourage the small and medium enterprises to apply the sufficiency economy philosophy in their organizations and make the country stable, prosperous and sustainable. The population and sample were the group of SMEs entrepreneurs in Samut Prakan Province. The sample size was calculated using Taro Yamane’s formula and got a total of 396 samples by using simple random sampling technique and in-depth interviewed with 5 key informants. Because the data is important, then the respondents have to voluntarily provide the answers in the questionnaire. The research instruments were the questionnaire with the combination of a checklist and 5-point rating scale. Quantitative data were analyzed by the descriptive statistics, frequency, percentage, mean, standard deviation and statistical qualitative analysis to get the guidelines for promoting SMEs to apply the sufficiency economy philosophy in their organization and make the country stable, prosperous and sustainable by using the content analysis and drawing conclusions. The research results showed that the level of understanding and opinion level of the application of the sufficiency economy philosophy in the management of SMEs in Samut Prakan Province in overall was at a high level. Guidelines for promoting the SMEs to apply the sufficiency economy philosophy in management to make the country stable, prosperous and sustainable are to focus on moderation, knowledge, morality, enhance the knowledge and understanding, as well as continuously promote this application