Adoption of Circular Economy by Construction Industry SMEs: Organisational Growth Transition Study

A megatrend in the business environment poised at practically entrenching sustainability while ensuring global business competitiveness is viewed as a circular economy. At the firm level, circular economy practices distinguish firms for excellent product and service delivery, thus ensuring competiti...

Full description

Saved in:
Bibliographic Details
Published in:Sustainability 2023-04, Vol.15 (7), p.5929
Main Authors: John, Iniobong Beauty, Adekunle, Samuel A, Aigbavboa, Clinton O
Format: Article
Language:English
Subjects:
Affordable housing
Business competition
Business models
Circular economy
Climate change
Competitiveness
Construction companies
Construction industry
Consumption
Cost control
Developing countries
Economic aspects
Economic growth
Economic research
Economics
Efficiency
Factor analysis
GDP
GNP
Government policy
Green technology
Gross Domestic Product
Gross National Product
Growth
LDCs
Personnel management
Principles
Small & medium sized enterprises-SME
Small and medium sized companies
Small business
Society
Sustainability
Sustainable development
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:A megatrend in the business environment poised at practically entrenching sustainability while ensuring global business competitiveness is viewed as a circular economy. At the firm level, circular economy practices distinguish firms for excellent product and service delivery, thus ensuring competitive advantage. The construction firm of the future will practice circular economy while adopting sustainable technology. This study is focused on assessing organisational growth transition among small and medium construction enterprises. A quantitative approach was adopted and structured questionnaires were administered among SME construction firms. The findings reveal the critical factors affecting organisational growth and transition in achieving a circular economy include availability of logistics infrastructure and firm’s market share, among others. Factor analysis indicated PCA extractions showing the component’s rotation indicating four structure components in the variables. The study named the four clusters required for achieving organisational growth transition as: firm positioning for competitive advantage, personnel management, service delivery and government policy and support. The study provides a foundation for other organisational growth transition studies stemming from circular economy adoption among construction industry SMEs.
ISSN:2071-1050
2071-1050
DOI:10.3390/su15075929