Value Creation through Urban Community Intellectual and Human Capital: A Case Study of Thai Herbal Products in Dusit District, Bangkok

Abstract

This research explores the incorporation of local knowledge and human capital in the development of herbal products in Dusit District, Bangkok Thailand, aiming to enhance community socioeconomic value. Using a mixed-methods approach, including surveys, semi-structured interviews, and focus group discussions, the study engaged 153 research participants. The Appreciation, Influence, and Control (AIC) process was applied through workshops to examine power dynamics in the local product development process. The study highlights the community’s collaborative efforts in creating herbal products such as balms, oils, and inhalers, drawing on traditional knowledge. The findings revealed that Dusit District, once home to Thai royalty, preserves a rich legacy of traditional knowledge and cultural value. This heritage, passed down from Generation X to Generation Y, embodies local wisdom and human capital, with the use of herbs in daily life emerging as a key area for generating community income. By developing innovative herbal products unique to the urban community, such as herbal balms, the community can improve physical and mental health while generating economic income and fostering social value for its elders, whose wisdom was essential to the development of these products. This social support strengthened community cohesion and promoted sustainable development.