Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMAC

Wen-Kuo Chen, Venkateswarlu Nalluri, Man-Li Lin and Ching-Torng Lin
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Wen-Kuo Chen: Department of Marketing and Logistic Management, College of Management, Chaoyang University of Technology, Taichung 413310, Taiwan
Venkateswarlu Nalluri: College of Management, Da-Yeh University, Changhua 51591, Taiwan
Man-Li Lin: Department of Finance, National Changhua University of Education, Changhua 50074, Taiwan
Ching-Torng Lin: College of Management, Da-Yeh University, Changhua 51591, Taiwan

Mathematics, 2021, vol. 9, issue 3, 1-23

Abstract: The banking sector often plays a crucial role in the improvement of infrastructure and economy of any country. In many emerging economies, it is apparent that a wide variety of social and political issues are related to the associated supply chain sustainability of financial service firms. Although such sustainability and its implementation issues have largely been addressed in existing research literature and in practice for many years, the attention towards socio-political sustainability aspects has been quite limited. Thus, this study attempted to explore the determinants for improving socio-political sustainability in financial service firms. Through adopting the fuzzy Delphi method (FDM), performing an exhaustive literature review, and conducting semi-structured interviews with the decision-makers of the service firms, nine key barriers for socio-political sustainability were first identified in this study. Then, the influence relationships of the key barriers were assessed by 15 experts. During the assessment process, the interrelationships and their dependence powers among key barriers were analyzed using the interpretive structural modelling (ISM) approach and cross-impact matrix multiplication applied to classification (MICMAC) methods. The assessment results show that among the studied barriers, “antisocial considerations”, “unstable political climate”, and “lack of political coherence” are the decisive barriers that affect the socio-political sustainability in the supply chain of financial service firms. The knowledge in understanding and reducing these decisive barriers can provide service sector practitioners, especially those with limited resources, the enhanced capability to conduct better planning and designing of effective and continuous improvement programs, so as to win over new consumers and retain existing clients by offering sustainable services.

Keywords: supply chain management (SCM); socio-political sustainability; socio-political sustainability barriers; financial service firms; interpretive structural modelling (ISM) (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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