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The achievement of sustainable development and business success through rational management decision-making in a circular economy

The achievement of sustainable development and business success through rational management... This study aims to explore sustainable development and business success (BS) through decision-making (DM) in Pakistan’s circular economy.Design/methodology/approachThis is a co-relational study in which the researchers used cross-sectional data collected from the managers of Pakistan’s manufacturing industries. Accordingly, the authors based this study’s findings on 373 valid samples.FindingsThis study’s structural equation modeling results reveal that DM has a positive and significant effect on sustainable development, which comprises competitiveness, business performance enhancement, flexibility, customer satisfaction and technology development. Moreover, DM positively and significantly affects BS.Practical implicationsThis study’s findings support sustainable development, strengthen the socioeconomic conditions and bring about the industries’ well-being through DM. In addition, these findings demonstrate the need for the circular economy to tackle industrial challenges and simultaneously open up economic and environmental growth opportunities for society.Originality/valueThis study offers the original contribution from a circular economy perspective; there needs to be more empirical evidence among managers of manufacturing industries. Besides, this study provides DM’s role in achieving sustainable development in the presence of BS, which has disappeared in an integrated way, particularly in a circular context. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Innovation Science Emerald Publishing

The achievement of sustainable development and business success through rational management decision-making in a circular economy

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References (120)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1757-2223
DOI
10.1108/ijis-02-2023-0043
Publisher site
See Article on Publisher Site

Abstract

This study aims to explore sustainable development and business success (BS) through decision-making (DM) in Pakistan’s circular economy.Design/methodology/approachThis is a co-relational study in which the researchers used cross-sectional data collected from the managers of Pakistan’s manufacturing industries. Accordingly, the authors based this study’s findings on 373 valid samples.FindingsThis study’s structural equation modeling results reveal that DM has a positive and significant effect on sustainable development, which comprises competitiveness, business performance enhancement, flexibility, customer satisfaction and technology development. Moreover, DM positively and significantly affects BS.Practical implicationsThis study’s findings support sustainable development, strengthen the socioeconomic conditions and bring about the industries’ well-being through DM. In addition, these findings demonstrate the need for the circular economy to tackle industrial challenges and simultaneously open up economic and environmental growth opportunities for society.Originality/valueThis study offers the original contribution from a circular economy perspective; there needs to be more empirical evidence among managers of manufacturing industries. Besides, this study provides DM’s role in achieving sustainable development in the presence of BS, which has disappeared in an integrated way, particularly in a circular context.

Journal

International Journal of Innovation Science – Emerald Publishing

Published: Nov 12, 2024

Keywords: Sustainable development; Decision-making; Business success; Circular economy; Manufacturing industries

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