These imbalances have impacted on the foundations of the Thai society and its
immunity to change. When faced with the economic crisis of 1997, the Thai economy took
five years to recover bringing its GDP back to the pre-crisis level. After the crisis
considerable number of Thai private enterprises, large, medium and small, have turned to the
Philosophy of Sufficiency Economy of King Bhumibol for solutions to the problems. The
Philosophy were stated by the King since 1974. These enterprises were able to manage their
organizations applying the principles of moderation, logical decision making, and immunity
supported by resourceful knowledge and morality. To ensure sustainability for the
organizations economically, socially and environmentally, several Thai organizations, both
private and public, have increasingly incorporated in their operations the practices of
Corporate Social Responsibility (CSR), such as donations of goods/money, reforestation,
dam building, school building, etc.