Causality of circular business strategy under uncertainty: A zero-waste practices approach in seafood processing industry in Vietnam

Abstract

This study contributes to the literature by investigating the causality of circular business strategy under uncertainty using a zero-waste practice approach in the seafood processing industry and recommending managerial implications for decision-makers. The circular business strategy has increasingly attracted more notice as a proper solution to address the environmental issues and accomplish economic as well as social benefit with the ultimate target of zero-waste. Yet, prior studies failed to determine circular business strategy attributes with the complete viewpoint and adequate measurement under qualitative information. Studies on zero-waste practices from the firm perspective are limited. To fulfill this gap, this study aims to determine the decisive circular business strategy attributes, their interrelationships in view of sustainable balanced scorecard and examine influential zero-waste practices from firm perspective. A combined method, including fuzzy Delphi method, fuzzy decision-making trial and evaluation laboratory, and Choquet integral is employed. From the original set of attributes, five aspects and 20 criteria are validated. The results present that collaborative circularity, strategic internal process, and technology competency are causal aspects with high involvement among the effect group. The decisive criteria for the seafood processing industry encompass resource consumption minimization, waste minimization, clean technology, by-product marketplace, network development, and coordination upgradation. From initial zero-waste practices of the industry's current status, two critical ones are identified including reuse and recycle.