The Sustainability Economy Philosophy framework, when put to use in business planning and operations, consists of the following 3 principles: Moderation, Reasonableness and Prudence. If the Company abides by these 3 principles with knowledge and virtue, it will be able to remain stable and sustainable through the currents of globalization and change.
- Work following one’s abilities and potential
- Avoid extremes
- Exercise financial discipline
- Assess the reasons for every action affecting stakeholders
- Create real, authentic value
- Manage risk
- Prepare for future impacts or changes
- In-depth information
- Correct understanding
- The linking together of knowledge and experience
creating business value
managing the impacts from business
caring and sharing
promoting artistic and cultural conservation
The adoption of Sufficiency Economy Philosophy as a business strategy will lead to balanced progress in all 4 dimensions: economy, society, environment, and culture. At the same time,under its sustainable development strategy, ThaiBev is confident that it will be able to be self-sustaining and develop limitless opportunities for the business and society as a whole.In addition to applying SEP to its business approach, ThaiBev also aims to abide by the 17 Sustainable Development Goals of the United Nations’ 2030 Agenda for Sustainable Development. Merging these two frameworks provides an approach for increasing the efficiency of many aspects of ThaiBev’s operations, and it promotes sustainable development at the domestic and international levels.
These two frameworks focus on the usage of knowledge, experience, and thinking to achieve steady growth, the reduction of environmental impact, and the development of human resources. Nevertheless, any sustainable form of economic growth must be built on the foundations of reasonable business operations and appropriate risk management.
SEP and SDGs are consistent with ThaiBev’s Vision 2020, and the Company’s aim to become “a stable and sustainable leader in the beverage business in ASEAN,” focusing on participating in the building of stronger relationships with stakeholders sustainably, in lock-step with the growth of the organization. Altogether, ThaiBev is confident that sustainable development strategies, built on the foundations of Sufficiency Economy Philosophy and the Sustainable Development Goals of the United Nations, will result in balanced progress for the Company throughout the value chain and promote business operations with the maximum benefit for society, the environment, and the key stakeholders of the organization.