Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMAC
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...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-01-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/9/3/240 |
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| author | Wen-Kuo Chen Venkateswarlu Nalluri Man-Li Lin Ching-Torng Lin |
| author_facet | Wen-Kuo Chen Venkateswarlu Nalluri Man-Li Lin Ching-Torng Lin |
| author_sort | Wen-Kuo Chen |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-03-09T03:39:52Z |
| format | Article |
| id | doaj.art-d502f0fe5eaf4017ac431a45dc54aa9c |
| institution | Directory Open Access Journal |
| issn | 2227-7390 |
| language | English |
| last_indexed | 2024-03-09T03:39:52Z |
| publishDate | 2021-01-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Mathematics |
| spelling | doaj.art-d502f0fe5eaf4017ac431a45dc54aa9c2023-12-03T14:42:51ZengMDPI AGMathematics2227-73902021-01-019324010.3390/math9030240Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMACWen-Kuo Chen0Venkateswarlu Nalluri1Man-Li Lin2Ching-Torng Lin3Department of Marketing and Logistic Management, College of Management, Chaoyang University of Technology, Taichung 413310, TaiwanCollege of Management, Da-Yeh University, Changhua 51591, TaiwanDepartment of Finance, National Changhua University of Education, Changhua 50074, TaiwanCollege of Management, Da-Yeh University, Changhua 51591, TaiwanThe 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.https://www.mdpi.com/2227-7390/9/3/240supply chain management (SCM)socio-political sustainabilitysocio-political sustainability barriersfinancial service firmsinterpretive structural modelling (ISM) |
| spellingShingle | Wen-Kuo Chen Venkateswarlu Nalluri Man-Li Lin Ching-Torng Lin Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMAC Mathematics supply chain management (SCM) socio-political sustainability socio-political sustainability barriers financial service firms interpretive structural modelling (ISM) |
| title | Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMAC |
| title_full | Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMAC |
| title_fullStr | Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMAC |
| title_full_unstemmed | Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMAC |
| title_short | Identifying Decisive Socio-Political Sustainability Barriers in the Supply Chain of Banking Sector in India: Causality Analysis Using ISM and MICMAC |
| title_sort | identifying decisive socio political sustainability barriers in the supply chain of banking sector in india causality analysis using ism and micmac |
| topic | supply chain management (SCM) socio-political sustainability socio-political sustainability barriers financial service firms interpretive structural modelling (ISM) |
| url | https://www.mdpi.com/2227-7390/9/3/240 |
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