BCG model – aiming to employ knowledge, technology and innovation to create economic value to Thailand’s valuable assets, including natural resource and culture – is based on the following principles:
- Sufficiency Economy Philosophy (SEP). Introduced by His Majesty the late King Bhumibol Adulyadej, SEP is a method of development based on moderation, prudence, and social immunity. The philosophy attaches great importance to human development at all levels and emphasizes the need to strengthen community’s capacity to ensure a balanced way of life and resilience, with full respect for the environment. SEP has long been the foundation of Thailand’s national development strategy.
- Building strength from within and connecting Thailand to the global community. BCG model capitalizes on the country’s innate strength which is the diversity of biological resources and culture and applies technology and innovation to convert this capital to high value goods and services. The model also emphasizes capacity building, starting from local communities, expanding to the national level and connecting to the world by being part of the global supply chain, collaborating with international partners to co-create knowledge and innovations and engaging and playing an active role in international initiatives to advance sustainability agenda.
- Moving forward together and leaving no one behind. BCG model aims to promote growth in all sectors and unlock the potential, while maintaining the identity, of each and every community. Quadruple helix model – engaging public, industry, academia and the society – will be employed as a mechanism to turn comparative advantage in biological and cultural diversity into competitive advantage through the application of science, technology and innovation to build a strong economy ready to compete in the global stage, while at the same time, distributing fair income and wealth to community, reducing inequality, strengthening the grassroots, taking care of the environment and eventually achieving sustainable development.