Fostering the SMEs Organizational Sustainability: An Analysis for Competitive Advantage in Context to Circular Economy

Surya Prakash (), Saty Dev (), Gunjan Soni () and Gaurav Kumar Badhotiya ()
Additional contact information
Surya Prakash: IIHMR University
Saty Dev: SRMS College of Engineering and Technology
Gunjan Soni: Malaviya National Institute of Technology Jaipur Jawahar Lal Nehru Marg
Gaurav Kumar Badhotiya: Marwadi University

International Journal of Global Business and Competitiveness, 2023, vol. 18, issue 2, No 2, 113 pages

Abstract: Abstract In the digital era, every small and medium enterprise (SME) firm is facing tight competition to gain a sustainable and competitive edge. The decision to find the appropriate strategy, method, ideas, and tools that impact the SME’s organizational sustainability is a difficult one. In recent times, the shifting focus toward a circular economy is making this more challenging. Many times, the available data are the bases of decision-making. Fuzzy versions of decision-making tools are good ways to deal with ambiguity in key data sources and inputs. As a result, this study has used the fuzzy analytic hierarchy process (FAHP) method to evaluate and understand the factors that provide SMEs with a competitive edge in the circular economy. Based on the four given criteria provided, a total of six drivers were analyzed and evaluated. The findings of the study show that in the initial phase, SME organizations should focus on environmentally friendly product differentiation and cleaner production methods to be sustainable. The next important factor identified is ‘green design and directives’ followed by the need of aligning SMEs toward sustainable development goals.

Keywords: Sustainable; Competitive advantage; Circular economy; Fuzzy approach; Analytic hierarchy process; SMEs (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s42943-023-00071-5 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:ijogbc:v:18:y:2023:i:2:d:10.1007_s42943-023-00071-5

Ordering information: This journal article can be ordered from
https://www.springer ... gement/journal/42943

DOI: 10.1007/s42943-023-00071-5

Access Statistics for this article

International Journal of Global Business and Competitiveness is currently edited by Kirankumar S. Momaya and Sushil

More articles in International Journal of Global Business and Competitiveness from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().