BUSINESS ANALYSIS TECHNIQUES FOR COST MANAGEMENT AND EMPLOYMENT GENERATION: A STUDY ON THEIR APPLICATION AND EFFECTIVENESS IN THE INDIAN SUGAR INDUSTRY

Abstract

This study explores various business analysis techniques for cost management and employment generation within the Indian sugar industry, an agro-based sector that is essentialin rural economies. The industry is significant for employing millions and contributing to the national economy. However, it faces challenges such as high production costs, volatile sugar prices, and environmental concerns. The research evaluates techniques like Activity-Based Costing (ABC), Lean Manufacturing, Total Quality Management (TQM), and Supply Chain Management (SCM) for cost efficiency, along with strategies for employment generation including Value Chain Analysis, Human Resource Management (HRM), and Entrepreneurship Development. Data analysis highlights how these methods enhance operational effectiveness, cut expenses, and create employment opportunities. The findings suggest that by adopting advanced business practices, the Indian sugar industry can overcome existing challenges and enhance sustainability.