The Relationship of Critical Success Factors of the Mineral Industry: A Study on India

Abstract

The mineral industry environment is an interlinked chain of activities. Identification of major activities of the mineral industry, termed as critical success factors (CSFs), and their relationship structure will be approachable, productive and efficiency-oriented for the industry to manage. The aim of the article is to develop a relationship structure consisting of CSFs influencing the mineral industry. Sixteen such operational influencing CSFs are identified through a broad literature review and subsequent dialogues held with mineral-field experts. The interpretive structural modelling (ISM) approach is applied for analysing CSFs and finding a relationship structure. The study is carried out in Odisha, Chhattisgarh and Jharkhand, mineral-rich states of India. Identification of CSFs and their relationship is carried out in nine phases sequentially to arrive at the latent structure. This is the only study to develop relationships of CSFs for any mineral industry in India. The findings of the study will provide insights on the relationship structure of CSFs of the mineral industry’s operation and be helpful for improvements in addressing operational difficulties for corporates, as well as academics. Among the 16 CSFs identified, ‘training and skill level’, ‘infrastructure’ and ‘political influence’ have the maximum driving force and are the least dependent. The projected model is helpful in understanding the relationship among CSFs and the business operation as a whole.