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Circular Economy and Decision Models among European SMEs
[journal article]
Abstract While targeting waste reduction and maintaining the value of products and resources in
the system as much as possible, undertaking circular economy practices at the company level is a
way of achieving entrepreneurial sustainability. This paper explores entrepreneurial decision models
for adopting... view more
While targeting waste reduction and maintaining the value of products and resources in
the system as much as possible, undertaking circular economy practices at the company level is a
way of achieving entrepreneurial sustainability. This paper explores entrepreneurial decision models
for adopting circular economy practices, focusing on European SMEs. Decision tree models are
applied on data from Flash Eurobarometer 441 in order to uncover business strategies in relation
to the implementation of circular economy practices at the company level and with the optimal
level and nature of investments in the circular economy for improving economic performances of
companies. The main findings of the article offer a better understanding of the relation between
characteristics of European SMEs and their decisions in the field of circular economy. Such results
are relevant from both macro and micro perspectives, as they can be used for customizing circular
economy programs and intervention strategies for various groups of SMEs, as well as for supporting
sustainable entrepreneurial decisions.... view less
Keywords
waste prevention; sustainability; model; decision; Eurobarometer; small business; medium-sized firm; corporate social responibility; environmental behavior; Europe; economic development (single enterprise)
Classification
Ecology, Environment
Management Science
Free Keywords
sustainable business decisions; circular economy; decision tress
Document language
English
Publication Year
2017
Page/Pages
15 p.
Journal
Sustainability, 9 (2017) 9
ISSN
2071-1050
Status
Published Version; peer reviewed