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Circular Economy: The Key Link Between Learning Orientations and Competitive Advantage in Small and Medium‐Sized Enterprises

Author

Listed:
  • Francisco Villegas

    (UDP - Universidad Diego Portales [Santiago - Chili])

  • Stefan Markovic

    (NEOMA - Neoma Business School)

  • Cristina Sancha

    (ESADE Barcelona - Sant Cugat)

  • Nebojsa Davcik

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School)

  • Piyush Sharma

    (Curtin University)

  • Joan Llonch

    (UAB - Universitat Autònoma de Barcelona = Autonomous University of Barcelona = Universidad Autónoma de Barcelona)

Abstract

Among the extensive research into various environmental strategies and their effects on competitive advantage, a gap remains regarding whether small and medium-sized enterprises (SMEs) can benefit from adopting a circular economy and what kinds of internal knowledge they need to embrace it effectively. Based on survey data from 205 SME managers, this study examines how intrinsic and extrinsic learning orientations influence circular economy adoption and competitive advantage. Using structural equation modeling, we validate that both learning orientations are important in fostering the adoption of circular economy within organizations, leading to an increased competitive advantage. Our findings highlight the need for formal knowledgebuilding mechanisms and internal ecosystems to support sustainable change. Overall, our study offers a guide for learning process development for practitioners, consumers, and policymakers in SME contexts.

Suggested Citation

  • Francisco Villegas & Stefan Markovic & Cristina Sancha & Nebojsa Davcik & Piyush Sharma & Joan Llonch, 2025. "Circular Economy: The Key Link Between Learning Orientations and Competitive Advantage in Small and Medium‐Sized Enterprises," Post-Print hal-05652058, HAL.
    • Handle: RePEc:hal:journl:hal-05652058
    DOI: 10.1002/bse.70186
    Note: View the original document on HAL open archive server: https://hal.science/hal-05652058v1
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