Today the world's longest-serving monarch will undergo an elaborate cremation depicting the Buddhist cosmology, with influences from Hinduism.
Cries of mournful tears dripping down black-clad attire will be heard throughout Sanam Luang as Thais gather to pay their last respects to late King Bhumibol, widely revered as the "father to all Thais".
As a final farewell to the monarch, business leaders have expressed gratitude to the late King's approach regarding development principles and the sufficiency economy philosophy to guide them through different business cycles.
Mr Rapee said the SEC values sustainability. PORNPROM SATRABHAYA
Rapee Sucharitkul
Secretary-General, Securities and Exchange Commission (SEC)
The late King's sufficiency economy philosophy provides the core of the SEC's principles. In the beginning, many people wondered how the concept of a sufficiency economy could apply to the capital markets, which have long been associated with profit-making, said Mr Rapee.
But challenges in the global financial markets have proved the late King's counsel of sustainable development is more relevant than ever, he said.
The key thrust of this philosophy centres around the concept of long-term sustainability, and the SEC has been working towards that goal for the capital markets, said Mr Rapee.
"For example, our fundamental reform in corporate governance encourages the business sector, the main driving force of the economy, to focus on creating long-term values as an ethical, responsible corporate citizen," he said.
"The introduction of the Corporate Governance Code -- a practical guideline for the creation of corporate sustainable development -- is a milestone for the Thai capital market that has flourished under the late King's guidance."
KBank supports environmental causes. PATIPAT JANTHONG
Kasikornbank
Kasikornbank (KBank), Thailand's fourth-largest commercial bank by assets, adopted the late King's sufficiency economy philosophy as a guideline for its business operations. The bank has applied corporate governance principles and appropriate risk management to strike a balance between business, social responsibility, and the environment in meeting its mission to share value to society, the community and the country.
KBank provides financial management for business customers and encourages personal loan borrowers to refrain from overspending, using financial discipline.
The bank tries to extend loans prudently, helping customers with debt repayment in a disciplinary manner, aiming to strike a balance between sufficiency and sustainability in the long run.
Following the late King's guidelines, KBank has tried to increase access to financial services for Thais and provide financial literacy and savings discipline to interested individuals including youths.
For environmental causes, the bank strives to protect and restore forests by increasing forest areas, particularly in Nan province. KBank has implemented an alternative career programme, helping people in the local community to reserve forestry resources and build up environmental awareness among youths in Nan.
Another facet of its environmental agenda has the bank seeking to reduce greenhouse gas emissions by 20-25 percentage points by 2020 and providing financial support to renewable energy businesses including solar farms, hydropower, wind power and biomass.
Business is not only about making money, says Mr Heinecke.
William E. Heinecke
Chairman and chief executive of Minor International Plc
Mr Heinecke was initially impressed with the late King's commitment to sufficiency and sustainability.
"Globally we are experiencing changing times and I think this highlights that the late King's sustainability concepts are completely relevant," he said.
"Sufficiency and sustainability are taking on greater importance given the rapid economic, social, geopolitical, technological and climate change factors that we are experiencing."
Mr Heinecke believes companies need to be aware of their impact on all stakeholders and how a collaborative approach can result in a positive impact for all.
For a company to be truly sustainable, it needs to ensure it can be self-sufficient, with nimble management in reaction to external factors, he said.
Inspired by the late King's philosophy, Minor has adopted sustainability as part of its business ethos.
"Sustainability is included in our five-year strategy, which underpins all aspects of our business and incorporates our company's vision and core values," said Mr Heinecke.
"Under our sustainability framework, we have worked on many initiatives such as human resource development for students, sustainable sourcing, and management of environmental impacts."
A 2,800-square-metre rooftop hydroponic garden at Anantara Riverside Bangkok is one of many examples of the company's initiatives. The hotel partners with Bangsai Agricultural Centre to harvest Asian and Western fresh produce to serve hotel guests.
"This reduces cost, gives us sustainable supplies of safe, high-quality vegetables, and reduces the impact on the environment. There are similar initiatives such as hydroponic gardens, herb gardens, and other [projects] in other hotels," he said.
Mr Heinecke agrees with the late King's philosophy that business conduct is not solely about making money, but also doing good for society.
Guided by the late King, Ms Pornthip believes in giving back.
Pornthip Hirunkate
Managing director of Destination Asia (Thailand) and vice-president of Association of Thai Travel Agents
Ms Pornthip said the late King's sufficiency economy principles are still extremely relevant today.
"This fundamental philosophy has taught our nation how to be sufficient, supporting our economic fundamentals and teaching us how to pursue advanced levels of economic development through the legacy of the sufficiency economy," she said.
In memory of the late King's guidance on "giving back" this year, Destination Asia (Thailand) has initiated numerous corporate social responsibility (CSR) projects to help the local environment and schools located in rural areas in northern Thailand, said Ms Pornthip.
The team at Destination Asia has been enthusiastic about CSR projects this year based on the late King's guidance on empowering the rural poor through education, she said.
The late King was Ms Pornthip's role model for teaching all citizens to be proud Thais and improving the country so everyone benefits.
"I am proud to showcase Thailand and our unique culture to the world. I have been fortunate to be able to do this throughout my business career," she said.
"I always keep in mind the late King's principles for helping others who are less fortunate."
Ms Pornthip said people should follow the late King's sufficiency economy philosophy because it leads to success in all walks of life and considers environmental sustainability.