Research Projects

Sustainability is increasingly important due to environmental degradation and the decline of fossil fuels. However, social sustainability is less discussed, especially in developing economies. In India, large firms are regularly monitored by global sustainability indices, but Small and Medium Enterprises (SMEs) face challenges in evaluating their social sustainability performance due to differences in working standards and wages across different states. A common standard procedure is proposed to measure and predict the social sustainability performances of Indian SMEs using grey theory and Markov prediction models. Social sustainability is measured based on living standards, with mandatory corporate social responsibility (CSR) policies in India requiring firms to share 2 percentages of profits for environmental and societal upliftment. Key indicators include equity, health standards, education, housing, and security. The study aims to implement a case study of 10-20 SMEs in Madhya Pradesh, India, and extend the model to measure social sustainability performances across India. The ratings will be measured on scales ranging from 1 to 7, subject to validity and reliability checks.