Strategic Sustainability Communication Model of the Companies Listed on the Stock Exchange of Thailand

Abstract

This chapter demonstrates the strategic sustainability communication model of companies listed on the Stock Exchange of Thailand. The need for “sustainable development” or “sustainability” was signalled in Thailand by the effects of the “Bubble Economy” in 1997. During the crisis, Thailand encountered weaknesses in its society, economy, politics, and environment. Accordingly, His Majesty the King Rama IX addressed the Thai people on the concept of the “Sufficiency Economy Philosophy”, which was adopted as a framework for sustainability. In 2015, the motto of Thailand’s “National Strategy” proposed by the Thai cabinet was “Stable, Prosperous, and Sustainable”. “Sustainability” has been implemented as a key communication message among stakeholders of Thai companies listed on the Stock Exchange of Thailand. Hence, a case study was conducted to explore the strategic models adopted by executives, professionals, and individuals in their application of the term sustainability communication to address the political and economic issues in Thailand. The case study underlines four important discoveries: (1) strategic sustainability management is initiated based on three dimensions of economy, society, and environment, while some companies have added corporate governance and risk management, or even developed a self-framework; (2) strategic sustainability communication analyses expectations of specific groups of stakeholders to develop suitable content and tactics; (3) stakeholder-oriented digital channels show the outlook and trend of strategic sustainability communication; and (4) the strategic sustainability communication model comprises nine modules. The findings of this study would essentially benefit corporate communication experts in government and private sectors planning, implementing, and evaluating sustainability management as well as strategic sustainability communication.