Modernization through the BCG Model: Rice Industry in Circular Economy
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Abstract
This study investigates the potential integration of the BCG Model and innovative practices into Thailand's rice supply chain. The BCG Model, renowned for its versatility across industries, offers a promising framework for enhancing efficiency and sustainability in rice production. Through the adoption of innovative strategies such as precision agriculture and value-added product development, this study aims to optimize resource utilization, reduce production costs, and enhance the value proposition of Thai rice products. By examining stakeholder engagement, technological adoption, and market dynamics, this study seeks to delineate actionable strategies for effectively implementing the BCG Model and fostering innovation within Thailand's rice supply chain. The findings contribute to the discourse on sustainable agricultural practices, offering insights for policymakers, industry stakeholders, and researchers who seek to promote economic growth and environmental stewardship in the rice industry. This study underscores the importance of combining cutting-edge methodologies with traditional practices to achieve a balanced approach to rice production that can address both economic and environmental concerns. Through collaborative efforts and strategic initiatives, Thailand can position itself as a leader in sustainable rice production, driving positive change within the global agricultural landscape.
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