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Thailand has been at the core of the Asian Values debate since the 1992 World Conference on Human Rights held in Vienna. Sufficiency Economy Philosophy (SEP) is an approach developed by the late King Bhumibol Adulyadej to condense and operationalize his approach to governance and development during the last two decades of his seventy year reign. Integrating values borrowed from Theravada Buddhism such as benevolence, emphasis on the middle way, and an emphasis on the public good, SEP is one of the most highly developed alternative approaches to development and governance in the Asian region. During his seventyyear reign, King Bhumibol Adulyadej saw thirty prime ministers come and go as well as over eighteen revised constitutions. Nevertheless, the country remained relatively peaceful and stable and the core pillars of Nation, Monarchy, and Religion provided continuity for the people throughout the upheavals of the Cold War and the new millennium. SEP has shown resiliency and flexibility to deal with a vast array of challenges both domestic and foreign. The present study explores the development of SEP with a particular focus on the role of values and leadership styles. SEP provides evidence of an actually existing Asian-value oriented inclusive leadership style that is practiced in both the private and the public sectors. A tentative model of SEP as a management style is provided and subjected to critical analysis.

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