Perceptions of Circular Business Models in SMEs

• Main Authors: Sebastian-Ion Ceptureanu, Eduard-Gabriel Ceptureanu, Raphael Gert Denis Murswieck
• Format: Article
• Language: English
• Published: Academy of Economic Studies of Bucharest 2018-05-01
• Series: Amfiteatru Economic
• Subjects: circular economy; ReSOLVE framework; value creation; spearman coefficient; circular economy; ReSOLVE framework; value creation; spearman coefficient
• Online Access: http://www.amfiteatrueconomic.ro/temp/Article_2721.pdf

Testing circular economy business models is crucial in understanding Circular Economy features across various industries. This paper analyses Circular Economy perceptions in Romanian SMEs by investigating entrepreneurs from PVC joinery industry. Using a multidimensional framework, ReSOLVE, as a conceptual model, and Lewandowski systematization, we measured 6 business actions and their relations with Value creation. The results of our survey can be described as mixed. Of the 6 business actions of ReSOLVE framework, for half of them (Regenerate, Optimize and Exchange) we can definitely conclude that these are correlated with Circular Economy in terms of Value Creation, while for a fourth there are variables significantly correlated without being able to conclude its overall contribution in terms of Value creation. Our empirical investigation contributes to literature development on Circular Economy research in SMEs and a step forward to shape future research initiatives.