The Relationship between Professional Management and Philosophy of Sufficiency Economy Influencing Sustainable Development of Construction Industries in Thailand

Abstract

The purposes of this research are 1) to study the components of professional management of construction industry in Thailand, 2) to study the components of Philosophy of Sufficiency Economy of construction industry in Thailand, and
3) to present the model of the relationship between professional management and Philosophy of Sufficiency Economy influencing the sustainable development of construction industry in Thailand.

The researcher applied the quantitative research method in conducting this study; retrieved the secondary data by
reviewing documents and related research; and collected the primary data from 300 samples with the questionnaire.
The statistics used in this study are consisted of Frequency, Percentage, Mean, Standard Deviation, Pearson Correlation, and Stepwise Multiple Regression.

The results show that with regard to the components of professional management of construction industry in Thailand,
the samples, in total, always practice the professional management; in particular, the human resources management has the highest mean, followed by the quality management, the good operating plan, the vision of the entrepreneur, and the financial management respectively. With regard to the components of Philosophy of Sufficiency Economy of construction industry
in Thailand, the samples, in total, always practice Philosophy of Sufficiency Economy, in particular, self immunity has
the highest mean, followed by reasonableness, moderation, knowledge condition, and integrity condition respectively.

The hypothesis results show that the components of professional management have an influence on the sustainable development with the statistical significance at the level of .01, which is relevant to the set hypothesis; by that the components of professional management in the aspect of the vision of entrepreneur (X₁₁), the financial management (X₁₄), and the quality management (X₁₅) can describe the variance of the sustainable development in total at 81.70%. The components of Philosophy of Sufficiency Economy have an influence on the sustainable development with the statistical significance at the level of .01, which is relevant to the set hypothesis; by that the components of Philosophy of Sufficiency Economy in the aspect of moderation (X₂₁), reasonableness (X₂₂), knowledge condition (X₂₄), and integrity condition (X₂₅) can describe the variance of the sustainable development in total at 62.80%. The relationship model between professional management and Philosophy of Sufficiency Economy has an influence on the sustainable development of construction in Thailand with the statistical significance at the level of .01, which is relevant to the set hypothesis; by that professional management and Philosophy of Sufficiency Economy can describe the variance of the sustainable development in total
at 62.30%. The equation forecasting professional management and Philosophy of Sufficiency Economy influencing
the sustainable development is = 1.019 professional management (X₁) + .338 Philosophy of Sufficiency Economy (X₂); from the equation, it can be seen that professional management and Philosophy of Sufficiency Economy have an influence
on the sustainable development in the same direction.