Modelling the linkage between fossil fuel usage and organizational sustainability

Abstract

In today's competitive business environment, ensuring the sustainability in long-run remains a key challenge for business organizations. Using fossil fuel-based technologies for in carrying out operating activities may put organizational sustainability at stake. Until now, researcher have not paid much attention to explore these issues. Consequently, following the recommendations of natural-resource-based view current study attempts to identify the issues & sub-issues concerning fossil-fuel usage by businesses and solutions to mitigate the effect of these. To understand the priority order of these identified issues and respective sub-issues, BWM (Best Worst Method) is employed. Further, current work uses VIKOR (VlseKriterijumska Optimizacija I Kompromisno Resenje) to explore the ranks of the proposed solutions considering the issues under consideration. Current analysis indicates “Legislation” to remain the most important issue followed by “Environment.” Further, ‘Sensitising and training employees towards usage of fossil fuel-based technologies with no wastage or minimum wastage’ is observed as the most workable solution in the short-term. The solution “Switching to renewable energy sources” is ranked on the second position. Findings of current study carry significant informational content that may assist organizations in developing the strategic framework to achieving long-term sustainability.