 Challenges for the development of sustainable SMEs in the cement industry: a SWARA–WASPAS approachVeerendra Anchan, Rahul Manmohan, Vernika Agarwal and Arshia Kaul Vilakshan - XIMB Journal of Management, 2024, vol. 21, issue 2, 248-262 Abstract: Purpose - This study aims to examine the obstacles and approaches to achieving sustainable development in India’s cement solid and hollow brick production business, with a specific emphasis on incorporating the triple bottom line (TBL) concept into strategies for small and medium-sized enterprises (SMEs). Design/methodology/approach - Using the step-wise weight assessment ratio analysis (SWARA)–weighted aggregated sum product assessment (WASPAS) approach, the study prioritized 11 economic, 9 environmental and 14 social sustainability indicators based on information collected from literature and expert opinions. Findings - The study provides valuable insights into the difficulties encountered by SMEs while implementing strategies that focus on the TBL. By putting emphasis on the sustainability criteria, the key areas that require attention to promote sustainability get identified and addressed. Research limitations/implications - The study’s focus on SMEs in this industry limits its generalizability. To have a more complete picture, future studies may include many areas. Practical implications - The identified and prioritized sustainability characteristics help small and medium-sized firms (SMEs) design strategies to address sustainable development concerns. The research findings could also inform policymakers and regulatory bodies about the challenges faced by SMEs in the cement and brick production sector regarding sustainability. It could highlight the need for supportive policies and regulations to promote sustainable practices and incentivize SMEs to adopt the TBL approach. The paper can offer practical insights for SME owners and managers on integrating sustainability principles into their business strategies. Actionable recommendations and best practices for enhancing environmental performance, social impact, and economic viability within the context of cement and brick production are outlined. Social implications - TBL policies improve the sustainability and profitability of small and medium-sized firms (SMEs) and promote environmentally and socially responsible practices that benefit the industry and society. The research paper may facilitate greater engagement and collaboration among various stakeholders involved in the cement and brick production industry, including SMEs, larger corporations, government agencies, non-governmental organizations (NGOs), and local communities. This cooperative approach can encourage open communication, the establishment of trust and coordinated actions to tackle sustainability challenges, ultimately improving social cohesion, and collaboration. Originality/value - This study provides new and valuable insights by investigating the development of TBL strategies in SMEs in the cement solid and hollow brick manufacturing sector in India. The utilization of the SWARA–WASPAS technique brings novelty to research on sustainable development in this field. Keywords: Sustainable indicators; Triple bottom line; Cement solid and hollow blocks; Micro; SWARA; WASPAS (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eme:xjmpps:xjm-11-2023-0232 Access Statistics for this article Vilakshan - XIMB Journal of Management is currently edited by Dr Sarat Kumar Jena More articles in Vilakshan - XIMB Journal of Management from Emerald Group Publishing Limited |
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