From barriers to solutions: an ensemble ranking-based framework for circular economy adoption

What the paper says

Several governments and organizations have embraced the Circular Economy (CE) model to promote sustainable economic development. While implementing the CE, organizations face various barriers that hamper their adoption. In this regard, this study investigates the various barriers to CE adoption and their overcoming solutions. Therefore, this study proposes a robust framework for assessing CE adoption barriers and their overcoming solutions. The proposed framework is grounded on the half-quadratic (HQ) based ensemble ranking to prioritize the solutions by considering CE barriers. Twenty barriers to CE adoption and their solutions are identified through Systematic Literature Review (SLR) and domain expert input. These identified barriers are prioritized using the Best Worst Method (BWM). Further, the identified solutions are also prioritized using Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), Weighted Aggregated Sum Product Assessment (WASPAS), and Combined Compromise Solution (CoCoSo) methods. An HQ-based ensemble ranking that is more robust and reliable is employed to obtain the aggregated rank of these solutions. Based on the aggregated rank, “top management consciousness and participation,” “consumer awareness,” “develop the CE business model,” “alignment of CE goals with strategic objectives,” and “reward and appreciation policies for CE” five most effective solutions for CE adoption. The findings suggest that organisations need to employ high-ranking solutions on a priority basis for CE adoption. The finding is also helpful for an organization that seeks CE adoption, especially in developing countries. Further, the proposed framework helps managers and policymakers assess the barriers and solutions for adopting CE in their context.