Exploring the practicality of circular economy through its associates: A case analysis-based approach

Until now, much of the research on the circular economy (CE) has focused on the theoretical aspects of the diffusion and adoption (D & A) of CE. In the vast CE literature, comprehension of the practicality of implementation of CE through the D & A of CE Principles, R-Strategies, and Sustainable Development Goals (SDGs) in an integrated manner with CE associates was missing. Therefore, this study attempts to analyse the integrated approach of D & A in CE practises using the lenses of CE associates. This study addresses the gap by examining CE enterprises featured in yearbooks from Young Global Leaders Circular Economy (YGL CE) published in 2018 and 2019. The study drew inspiration from previous research on the associates of CE and their interactions. The study explored the prominent CE Principles, R-strategies, and SDGs traced from YGL CE documented cases. Besides, we explored the significance and interactions of associates identified and documented in the CE theoretical review study of 2010-2019 literature, focusing on their practical applications. The study analysed qualitative case data from 102 CE enterprises using the lenses of CE associates. Additionally, the study ranked CE associates in the order of their adoption to help practitioners identify the most or least adopted, besides diffused associates, that could be incorporated into their business models to gain a competitive advantage by offering consumers a new value proposition with tweaking. Multiple qualitative and quantitative statistical tools were applied, including Content Analysis and Weighted Average Priority Ranking. Finally, the study revealed that SDG 12, sustainable consumption and production, is the most prominent SDG, while Reduction and Recycling are the most prominent R-Strategy and Circulating products besides materials (at their highest value) is the most prominently adopted CE principle among enterprises. The study, at last, illustrated a comprehensive operational framework based on emerging trends and significant CE associates that practitioners can imbibe to create an equitable ecosystem for the transition to CE with insufficiently considered slow-moving five R-strategies, four CE business actions, and Raw material, Risk, and Barrier management.