Evaluating and Comparing Key Indicators of Sustainable Development Performance in the Petrochemical Industry Using SMAA and SMAA-S

Document Type : Research Paper


1 Associate Prof., Department of MBA, Faculty of Management, University of Tehran, Tehran, Iran.

2 Ph.D. Candidate, Department of Business Policy, Alborz Campus, University of Tehran, Tehran, Iran

3 Prof., Department of Business Management, Faculty of Management, University of Tehran, Tehran, Iran

4 Assistant Prof., Department of Business Management, Payame Noor University, Tehran, Iran


Objective: The present study aims to identify key indicators of sustainable development performance in the petrochemical industry of Iran. Moreover, we tend to provide rankings and pairwise comparison of subordinate companies which are related to one of the holding companies of this industry. Additionally, the present study aims at identifying strategic points regarding all indicators and their rankings and also recognizing the most important KPIs regarding the 5-year sustainable development performance. 
Methods: In this research, Stochastic Multi-criteria Acceptability Analysis is used that is a new member of Multiple-criteria decision analysis methods. The sampling was done through  quota non-probability method. 
Results: the results indicated that economic perspective's KPIs include revenue growth, return on assets, and profit to revenue ratio. Environmental perspectives include fresh water usage, greenhouse gas, flaring gas, oil spills, and waste reduction. Also, preventing corruption, injury rate and development and workforce training are the KPIs regarding social perspective. Having provided rankings and comparison among the companies, flaring gas was identified as the most important KPI related to sustainable development.
Conclusion: This research can address all companies related to the petrochemical industry, to consider all perspectives of corporate governance. Not only value creation for all stakeholders should be the goal of this kind of companies, but they should also emphasize on flaring gas as the most important KPIs.


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