Abstract
Sugar industry plays an important role in Indian economy and also faced challenges and opportunities in sustainability process. In the modest business scenario, evaluating sustainability risks is a major task for any industry. The process of evaluating the sustainability risks includes incorporating various information sources, which are normally incomplete, subjective and uncertain in nature. Therefore, this research work proposes a theoretical framework to develop the effective sustainability. Risk factors are identified from literatures and experts opinions. Additionally, Delphi method is used to finalize the risk factors based upon the average of industrial expert’s comments. After recognizing the sustainability risks, Analytical Hierarch Process (AHP) is used to analyse, prioritize and ranking the risks. In this research work, case study is conducted in well-known south Indian sugar industry to verify the proposed framework. From the research findings, overuse of water (S1) is the most dominant one in the sustainability process. Additionally, Best Worst Method (BWM) is used for verifying the AHP results. The research outcomes will support practitioners, researchers and managers by giving valuable insights on risks and potential ways to implementing sustainability.
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