Authors: Assistant Professor Dr.S.Sujatha, Assistant Professor Dr Sayantani Chakraborty
Abstract: In times when organizations face a high level of challenges, they need sophisticated models that help them to reconcile conflicting goals and maintain sustainable development. In this paper, we propose an analytical strategic decision-making model combining the use of business analytics with multi-objective optimization and sustainability principles. We base our research on Multi-Objective Optimization (MOO) concept, Pareto frontier theory, and Triple Bottom Line (TBL) framework. As a result, we have developed a model that allows organizations to deal with conflicting goals concerning profitability and risk level and maintain sustainable development at the same time. The analysis of quantitative data from different industries shows that application of the proposed model significantly increases the efficiency of decision making and strategic planning in organizations.
