Strategic sustainability communication model of listed companies in the stock exchange of Thailand

Abstract

“Sustainable development” or “Sustainability” is indicative of Thailand being affected by the "Bubble Economy" in 1997. During the crisis His Majesty the King Rama IX gave a royal remark to the Thai people with concept "Sufficiency Economy Philosophy", which has been adopted as a framework for sustainability. Thailand has encountered several weaknesses such as society, economy, politics, and environment. In 2015, Thai Cabinet has prepared the "National strategy" as motto as "Stable, Prosperous, and Sustainable". In the respect of Thai listed companies in SET, “Sustainability” has been implemented as key communication message among stakeholders.

This qualitative research was designed to collect data from in-depth interview of nineteen key informants in SET companies and stakeholders, as well as documentary analysis. The results revealed that (1) strategic sustainability management has been initiated base on three dimensions: economy, society, and environment, while some companies have added corporate governance and risk management, or even developed self-framework. (2) Strategic sustainability communication has been focused on specific group of stakeholders by analyzing expectations in order to develop suitable contents and tactics. (3) Stakeholders-oriented and digital channel have been initiated as the outlook and trend of strategic sustainability communication. Moreover, (4) Strategic sustainability communication model comprises of nine modules.

The findings of this study would essentially benefit corporate communication experts among government and private sector in planning, implementing, and evaluating sustainability management as well as strategic sustainability communication.