Analyzing the business models for circular economy implementation: a fuzzy TOPSIS approach

Zafar Husain (), Annayath Maqbool (), Abid Haleem (), R. D. Pathak () and Danny Samson ()
Additional contact information
Zafar Husain: Al Ain University
Annayath Maqbool: Department of Mechanical Engineering, Faculty of Engineering and Technology
Abid Haleem: Department of Mechanical Engineering, Faculty of Engineering and Technology
R. D. Pathak: The University of South Pacific
Danny Samson: University of Melbourne

Operations Management Research, 2021, vol. 14, issue 3, No 2, 256-271

Abstract: Abstract The concept of the circular economy has acquired importance in the academic world. The corporate firms and governments believe that the pressure on the environment can be reduced by implementing the circular economic system. The switching of a linear economy to a circular economy requires to build new business models that overcome the limitations of the linear model of the economy. This paper aims to rank the business models for the successful adoption of the circular economy through the criteria by employing an appropriate multi-criteria decision making (MCDM) method. Fuzzy Technique for Order of Preference by Similarity to Ideal Solution (Fuzzy TOPSIS) has been used in this study. Eleven Business Models have been identified through literature review and analyzed based on nine criteria for the business model to be successful. The ranking of results indicates that the product and process design is the most important business models for the implementation of the circular economy. The findings of this research enhance the understanding about the relative importance of the several business models based on which the management can formulate an effective strategy to systematically adopt an appropriate business model for successful implementation of an economic system.

Keywords: Circular economy; Business models; Fuzzy TOPSIS; Supply chain management (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://link.springer.com/10.1007/s12063-021-00197-w 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:opmare:v:14:y:2021:i:3:d:10.1007_s12063-021-00197-w

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/12063

DOI: 10.1007/s12063-021-00197-w

Access Statistics for this article

Operations Management Research is currently edited by Jan Olhager and Scott Shafer

More articles in Operations Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().