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Key strategies, resources, and capabilities for implementing circular economy in industrial small and medium enterprises

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  • Vanessa Prieto‐Sandoval
  • Carmen Jaca
  • Javier Santos
  • Rupert J. Baumgartner
  • Marta Ormazabal

Abstract

Small and medium enterprises (SMEs) are key actors in the implementation of the circular economy (CE) concept as a basis for creating sustainable societies. Thus, the main objective of this study is to identify key strategies and resources that may favor CE implementation in SMEs. These key strategies should encourage SMEs to develop eco‐innovations to gain competitive advantage and create and capture value that is coherent with nature. A mixed‐method approach that consisted of a literature review and a focus group for gathering qualitative data was used. This focus group was made up of experts such as researchers and practitioners from universities, sustainable SMEs, and consultancy firms in Spain. A set of strategies and internal and external factors were identified to help SMEs to implement the CE. Finally, some useful dynamic capabilities for implementing the CE in business performance were identified.

Suggested Citation

  • Vanessa Prieto‐Sandoval & Carmen Jaca & Javier Santos & Rupert J. Baumgartner & Marta Ormazabal, 2019. "Key strategies, resources, and capabilities for implementing circular economy in industrial small and medium enterprises," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1473-1484, November.
  • Handle: RePEc:wly:corsem:v:26:y:2019:i:6:p:1473-1484
    DOI: 10.1002/csr.1761
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    Cited by:

    1. Ipek Kazancoglu & Muhittin Sagnak & Sachin Kumar Mangla & Yigit Kazancoglu, 2021. "Circular economy and the policy: A framework for improving the corporate environmental management in supply chains," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 590-608, January.
    2. Owais Khan & Tiberio Daddi & Fabio Iraldo, 2020. "The role of dynamic capabilities in circular economy implementation and performance of companies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(6), pages 3018-3033, November.
    3. Elisabeth Viles & Javier Santos & Tamara Fernández Arévalo & Martín Tanco & Florencia Kalemkerian, 2020. "A New Mindset for Circular Economy Strategies: Case Studies of Circularity in the Use of Water," Sustainability, MDPI, Open Access Journal, vol. 12(22), pages 1-1, November.
    4. Johan Graafland, 2020. "Women in management and sustainable development of SMEs: Do relational environmental management instruments matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2320-2328, September.
    5. Owais Khan & Tiberio Daddi & Fabio Iraldo, 2020. "Microfoundations of dynamic capabilities: Insights from circular economy business cases," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1479-1493, March.
    6. Alessandro Da Giau & Nicolai J. Foss & Andrea Furlan & Andrea Vinelli, 2020. "Sustainable development and dynamic capabilities in the fashion industry: A multi‐case study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(3), pages 1509-1520, May.

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