The transition from linear economy to circular economy for sustainability among SMEs: A study on prospects, impediments, and prerequisites
研究中小企业从线性经济转向循环经济的前景、障碍和前提条件，基于对六家中小企业的访谈和案例，发现3R原则、竞争优势等是推动因素，而意识、资金、管理等问题是障碍，并提出管理意愿、创新等前提条件。
Abstract The circular economy (CE) is a more holistic approach that advocates towards extracting the value from the waste and reaching sustainability goals. The objective of the present study is to highlight the prospects, impediments, and prerequisites while transiting from the linear economy (LE) to CE of SMEs. The study gathers information on prospects, impediments, and prerequisites for the transition of LE to a CE from recent studies . A semi‐structured interview questionnaire was prepared, and a survey was conducted on representatives of six SMEs . Further, six caselets were developed to understand the prospects, impediments, and prerequisites based on the findings of the interview and previous information gained from existing literature . The major prospects favoring transition from LE to CE found in the study are significance of 3R (reduce and reuse and recycling) approach, CE leads to competitive advantage, recycling attracts consumers in few cases, CE helps in achieving sustainability goals and reuse of materials are significant in resource conservation. There are certain impediments found such as issues associated with awareness, recyclability issues, financial challenges, and weak management vision of SMEs towards CE implementation. Other resource‐based impediments were found related to trained employees, lack of experience. Whereas, consumer acceptability is also a major concern towards implementing CE. The findings of the study suggest major prerequisites towards CE implementations such as strong “management will,” innovation, technology up‐gradation, training to employees, motivation, and appropriate guidelines. Government pressure to implement CE cannot be an effective step towards the transition of LE to CE.