Application of the Sufficiency Economy Philosophy for Business Management of Small and Medium Enterprises (SMEs) in Songkhla Province

Abstract

This study aimed at investigating the application of the Sufficiency Economy Philosophy for business management of Small and Medium Enterprises (SMEs) in Songkhla Province. Three research questions were posed: 1) to study the application of the Sufficiency Economy Philosophy for business management of Small and Medium Enterprises (SMEs) in Songkhla Province; 2) to compare the application of the Sufficiency Economy Philosophy for business management according to the demographic variables; and 3) to compare the application of the Sufficiency Economy Philosophy for business management according to business factors of Small and Medium Enterprises (SMEs). The main data collection instrument was questionnaire, which was carried out with 366 SMEs business entrepreneurs in Songkhla Province by purposively selected. Frequencies, percentages, mean, standard deviation, t-test, F-test or One-way ANOVA, Sheffe’s Multiple Contrast with statistical significance of .05 level were analyzed qualitatively to examine the results.