Analyzing Performance in Wholesale Trade Romanian SMEs: Framing Circular Economy Business Scenarios
Abstract
:1. Introduction
2. Literature Review
2.1. The Circular Economy and the Sustainable Supply Chain
2.2. Digitalization Trends and the Circular Economy
3. Material and Methods
3.1. The Design of the Research
3.2. The Sampling Procedure
4. Results
4.1. Cluster Analysis
4.2. Discriminant Analysis
- Calculating the MANOVA indicators based on a series of statistical data;
- Calculating the coefficients of discrimination functions;
- Calculating the affiliation probability of each object to a class and choosing the classes matching maximal probabilities;
- Comparing the classification resulting through implementing discriminant analysis with the initial classification of the objects.
5. Discussion
6. Drawing up a Business Scenario for a Small Company in Order to Improve Efficiency and to Support the Circular Economy Goals
7. Conclusions, Limitations and Future Research Directions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
Appendix A
Company | V1 | V2 | V3 | V4 | V5 | V6 | V7 | V8 | V9 |
---|---|---|---|---|---|---|---|---|---|
R&G Industries SRL | 20.22 | 28.12 | 7.46 | 38.17 | 52.22 | 8.68 | 8.14 | 84.23 | 61.83 |
Damias AS SRL | 2.61 | 7.31 | 0.64 | 70.86 | 9.86 | 0.79 | 0.75 | 67.24 | 29.14 |
Marini Trans SRL | 4.08 | 22.05 | 2.15 | 84.07 | 40.99 | 2.5 | 2.2 | 83.57 | 15.93 |
Vadati SRL | 14.88 | 36.72 | 4.9 | 66.11 | 11.55 | 5.85 | 5.12 | 73.96 | 33.89 |
Abs Decor SRL | 16.42 | 29.82 | 12.15 | 52.22 | 21.45 | 14.01 | 4.76 | 64.14 | 47.78 |
Stilmax Prest SRL | 13.05 | 13.11 | 9.46 | 14.48 | 52.88 | 11 | 10.61 | 96.97 | 85.52 |
Saramaris SRL | 13.77 | 12.88 | 5.05 | 9.57 | 7.26 | 5.97 | 5.06 | 59.66 | 90.43 |
General Memento UM Import Export SRL | 14.65 | 16.69 | 4.94 | 24.37 | 18.96 | 5.73 | 4.92 | 96.35 | 75.63 |
Cepi Impex SRL | 1.28 | 2.71 | 0.66 | 58.61 | 0.15 | 0.76 | 0.61 | 62.65 | 41.39 |
Fely Construct Forever SRL | 11.31 | 3.89 | 0.31 | 76.46 | 20.16 | 3.82 | 0.32 | 65.21 | 23.54 |
Luxus L&D Forest SRL | 20.63 | 25 | 5.03 | 30.5 | 4.29 | 5.98 | 5.28 | 71.76 | 69.5 |
Climagro SRL | 29.77 | 6.15 | 0.71 | 56.35 | 58.72 | 7.87 | 0.78 | 88.11 | 43.65 |
MA&GC Depocon SRL | 14.28 | 17.96 | 6.05 | 29.06 | 1.81 | 6.78 | 6.47 | 94.4 | 70.94 |
Translin Service SRL | 43.1 | 87.13 | 12.91 | 53.94 | 39.11 | 13.87 | 14.79 | 58.61 | 46.06 |
Marmogrant SRL | 22.23 | 23.09 | 21.2 | 7.64 | 9.62 | 22.11 | 26.63 | 92.52 | 92.36 |
Marini Trans Mixt SRL | 10.57 | 29.35 | 11.78 | 66.65 | 61.73 | 12.72 | 13.28 | 63.44 | 33.35 |
Bauring SRL | 85.1 | 115.97 | 9.12 | 32.38 | 6.44 | 9.89 | 9.95 | 94.29 | 67.62 |
Valmira Trade SRL | 1.15 | 3.14 | 0.37 | 70.48 | 55.06 | 0.46 | 0.37 | 85.75 | 29.52 |
Valna DC Prest SRL | 8.29 | 82.58 | 5.07 | 91.62 | 7.1 | 6.07 | 5.4 | 82.03 | 8.38 |
Mobil Tehno Com SRL | 0.66 | 1.91 | 0.25 | 69.61 | 9.88 | 0.29 | 0.25 | 50.45 | 30.39 |
Poieni Bai Forest SRL | 39.8 | 51.83 | 4.92 | 35.38 | 41.98 | 5.85 | 5.22 | 80.14 | 64.62 |
Rafanda D&V Depo SRL | 10.99 | 12.54 | 3.28 | 31.85 | 13.45 | 4.21 | 3.4 | 70.79 | 68.15 |
Transforest International SRL | 2.38 | 7.1 | 10.78 | 66.54 | 1.47 | 10.78 | 9.37 | 15.88 | 33.46 |
Courtage Combo SRL | −0.12 | 2.82 | −0.16 | 104.27 | 89.63 | −0.16 | −0.12 | 99.79 | −4.27 |
Augurprodcom SRL | 7.08 | 11.37 | 8.88 | 43.87 | 0.77 | 9.85 | 9.79 | 3.99 | 56.13 |
Niro Stahl Impex SRL | 5.48 | 18.88 | 4.13 | 76.66 | 33.71 | 5.13 | 4.35 | 96.04 | 23.34 |
Gerard International SRL | 69.23 | 70.99 | 42.19 | 4.75 | 0.36 | 43.2 | 74.74 | 24.85 | 95.25 |
Uniroof SIB SRL | 23.64 | 61.74 | 9.18 | 65.23 | 17.27 | 10.11 | 10.21 | 91.55 | 34.77 |
Gabriel Class Company SRL | 13.82 | 106.06 | 7.38 | 88.51 | 20.93 | 8.36 | 7.95 | 99.98 | 11.49 |
Vicmar Invest SRL | 26.69 | 26.46 | 17.57 | 3.2 | 2.13 | 18.3 | 19.4 | 71.59 | 96.8 |
Alpin Holz Transport SRL | 19.15 | 54.29 | 7.79 | 67.8 | 16.03 | 8.54 | 8.52 | 92.88 | 32.2 |
Alexuzu Depotrust SRL | 13.23 | 118.41 | 7.89 | 90.09 | 4.3 | 8.89 | 8.66 | 93.85 | 9.91 |
Ban Speed Construct SRL | 32.68 | 60.16 | 23.95 | 50.91 | 15.57 | 26.51 | 32.6 | 100 | 49.09 |
Tavi Ciurchea SRL | 6.41 | 12.36 | 19.4 | 55.3 | 68.27 | 22.51 | 25.03 | 84 | 44.7 |
Leucean Trading SRL | 10.59 | 28.15 | 4.7 | 68.62 | 26.46 | 5.63 | 4.89 | 97.81 | 31.38 |
Nigado Grup SRL | 18.55 | 27.77 | 49.71 | 35.57 | 17.96 | 51.54 | 102.43 | 48.66 | 64.43 |
WHD Trade General Export SRL | 25.27 | 95.71 | 11.43 | 75.73 | 79.24 | 12.43 | 13 | 100 | 24.27 |
Marco Paul SRL | 143.38 | 188.84 | 35.74 | 28.03 | 0 | 37.7 | 22.53 | 30.46 | 71.97 |
Stone 4 Sale SRL | 35.26 | 33.92 | 40.25 | 0 | 0.05 | 41.84 | 69.21 | 53.35 | 100 |
Maria Multicons SRL | 0.96 | 10.04 | 11.02 | 13.46 | 24.5 | 1.22 | 6.22 | 86.72 | 86.54 |
Dialum Pluv SRL | 13.14 | 96.4 | 41.09 | 86.72 | 0 | 42.17 | 62.72 | 100 | 13.28 |
La Egostone Granite SRL | 0.75 | 3.67 | 13.02 | 83.43 | 0.1 | 16.02 | 15.49 | 95.97 | 16.57 |
Senlong Limited SRL | −115.19 | 58.96 | −74 | 298.11 | 4.91 | −72.97 | −42.58 | 36.85 | −198.11 |
Granstone Land SRL | 0.59 | −3.9 | 0.78 | 232.58 | 1.84 | 0.09 | 0.86 | 25.73 | −132.58 |
Stone International Logistic SRL | −0.95 | 17.13 | −385.93 | 156.98 | 24.98 | −37.6 | −26.85 | 79.17 | −56.98 |
Ali Distritech SRL | 41.33 | −0.74 | 0.27 | 375.88 | 4.53 | 5.51 | 28.43 | 98.56 | −275.88 |
Geonat&Geotom SRL | 97.25 | 99.66 | 69.36 | 3.7 | 85.76 | 70.29 | 233.46 | 100 | 96.3 |
Mimar Cons SRL | −46.47 | 255.22 | −123.67 | 118.36 | 81.91 | −122.67 | −55.54 | 95.18 | −18.36 |
Efect Confort Mob SRL | −32.48 | 6.9 | −5.95 | 147.9 | 0 | −58.52 | −3.75 | 98.81 | −47.9 |
Alin&Alicia Gardbet SRL | 0.16 | 35.12 | 625.15 | 63.61 | 5.92 | 7.78 | 282.16 | 99.63 | 36.39 |
Bujoreanu Forest SRL | −4.87 | −7.01 | −444.02 | 25.53 | 88.92 | −413.88 | −31.4 | 100 | 74.47 |
Appendix B
Resubstitution Results | Validation Results | |||||
---|---|---|---|---|---|---|
Company | Class 1 (%) | Class 2 (%) | Class 3 (%) | Class 1 (%) | Class 2 (%) | Class 3 (%) |
R&G Industries SRL | 21.29 | 82.91 | 28.15 | 12.14 | 86.6 | 30.05 |
Damias AS SRL | 8.02 | 64.6 | 56.12 | 8.49 | 62.95 | 57.73 |
Marini Trans SRL | 14.49 | 77.32 | 19.27 | 15.39 | 76.38 | 20.11 |
Vadati SRL | 33.09 | 40.08 | 47.39 | 34 | 37.37 | 48.18 |
Abs Decor SRL | 18.49 | 68.6 | 46.57 | 19.32 | 67.7 | 47.68 |
Stilmax Prest SRL | 15.26 | 83.84 | 51.36 | 17.21 | 88.64 | 40.48 |
Saramaris SRL | 9.48 | 64.47 | 85.22 | 10.3 | 68.58 | 84.07 |
General Memento UM Import Export SRL | 32.65 | 46.74 | 73.84 | 35.8 | 50.14 | 70.61 |
Cepi Impex SRL | 6.41 | 60.05 | 73.33 | 6.86 | 56.33 | 76.28 |
Fely Construct Forever SRL | 7.67 | 78.33 | 39.16 | 8.13 | 77.57 | 40.57 |
Luxus L&D Forest SRL | 28.41 | 41.42 | 75.8 | 30.29 | 43.46 | 74.46 |
Climagro SRL | 18.02 | 92.04 | 15.89 | 21.26 | 90.9 | 17.57 |
MA&GC Depocon SRL | 38.93 | 26.72 | 83.37 | 44.21 | 29.47 | 80.55 |
Translin Service SRL | 70.17 | 48.54 | 13.13 | 63.15 | 53.14 | 14.04 |
Marmogrant SRL | 34.7 | 28.17 | 86.8 | 38.68 | 30.63 | 85.4 |
Marini Trans Mixt SRL | 5.88 | 93.34 | 12.01 | 6.5 | 93.47 | 13 |
Bauring SRL | 99.71 | 2.31 | 29.43 | 99.72 | 1.93 | 38.1 |
Valmira Trade SRL | 5.88 | 91.99 | 19.47 | 6.38 | 91.28 | 21.12 |
Valna DC Prest SRL | 76.77 | 19.25 | 29.6 | 73.96 | 10.75 | 31.37 |
Mobil Tehno Com SRL | 3.15 | 78.78 | 56.47 | 3.31 | 77.16 | 59.47 |
Poieni Bai Forest SRL | 60.72 | 62.29 | 25.12 | 54.8 | 65.78 | 26.62 |
Rafanda D&V Depo SRL | 12.37 | 63.3 | 73.14 | 13.14 | 65.75 | 71.91 |
Transforest International SRL | 0.96 | 85.99 | 62.43 | 0.82 | 81.37 | 73.17 |
Courtage Combo SRL | 5.4 | 97.63 | 2.56 | 6.38 | 97.35 | 2.06 |
Augurprodcom SRL | 0.78 | 88.41 | 72.26 | 0.57 | 82.53 | 86.22 |
Niro Stahl Impex SRL | 22.94 | 62.85 | 30.41 | 24.41 | 60.35 | 31.8 |
Gerard International SRL | 31.81 | 17.27 | 75.15 | 43.82 | 21.08 | 57.27 |
Uniroof SIB SRL | 75 | 18.95 | 36.5 | 73.46 | 19.74 | 37.86 |
Gabriel Class Company SRL | 93.76 | 6.13 | 17.68 | 92.84 | 6.35 | 19.2 |
Vicmar Invest SRL | 28.53 | 35.08 | 88 | 31.25 | 37.63 | 87.28 |
Alpin Holz Transport SRL | 68.23 | 20.97 | 39.4 | 65.65 | 21.86 | 40.89 |
Alexuzu Depotrust SRL | 96.1 | 2.34 | 26.22 | 95.22 | 2.17 | 29.99 |
Ban Speed Construct SRL | 78.62 | 11.02 | 51.34 | 75.73 | 11.6 | 54.44 |
Tavi Ciurchea SRL | 4.35 | 93.41 | 19.04 | 4.71 | 92.4 | 21.45 |
Leucean Trading SRL | 38.48 | 45.84 | 38.17 | 40.66 | 41.7 | 39.78 |
Nigado Grup SRL | 1.31 | 32.86 | 79.2 | 1.16 | 41.43 | 65.89 |
WHD Trade General Export SRL | 81.48 | 61.41 | 2.56 | 70.03 | 72.74 | 2.27 |
Marco Paul SRL | 99.97 | 1.76 | 7.84 | 100 | 0.43 | 9.64 |
Stone 4 Sale SRL | 10.41 | 22.23 | 91.29 | 11.88 | 24.99 | 89.7 |
Maria Multicons SRL | 11.26 | 66.77 | 78.41 | 12.25 | 70.86 | 76.18 |
Dialum Pluv SRL | 82.99 | 1.26 | 51.36 | 71.31 | 0.96 | 62.36 |
La Egostone Granite SRL | 18.39 | 29.17 | 67.63 | 20.87 | 19.6 | 72.88 |
Senlong Limited SRL | 0.44 | 44.16 | 0.92 | 0.07 | 88.78 | 0.14 |
Granstone Land SRL | 1.455 | 83.03 | 2.01 | 1.19 | 95.44 | 1.43 |
Stone International Logistic SRL | 3.16 | 6.61 | 41.17 | 3.25 | 7.4 | 80.49 |
Ali Distritech SRL | 54.04 | 14.24 | 0.04 | 99.96 | 53.36 | 0 |
Geonat&Geotom SRL | 27.57 | 1.45 | 23.96 | 96.44 | 0.11 | 80.49 |
Mimar Cons SRL | 99.4 | 1.67 | 0.25 | 100 | 0.21 | 0 |
Efect Confort Mob SRL | 10.43 | 19.92 | 24.3 | 12.38 | 23.17 | 28.33 |
Alin&Alicia Gardbet SRL | 2.65 | 5.15 | 19.61 | 1.09 | 2.76 | 98.37 |
Bujoreanu Forest SRL | 0.33 | 5.06 | 9.88 | 0 | 0.3 | 99.39 |
Appendix C
Category | Cluster Analysis | Discriminant Analysis |
---|---|---|
Class 1 | R&G Industries SRL, Translin Service SRL, Bauring SRL, Valna DC Prest SRL, Poieni Bai Forest SRL, Uniroof SIB SRL, Gabriel Class Company SRL, Alpin Holz Transport SRL, Alexuzu Depotrust SRL, Ban Speed Construct SRL, WHD Trade General Export SRL, Marco Paul SRL, Dialum Pluv SRL | Translin Service SRL, Bauring SRL, Valna DC Prest SRL, Uniroof SIB SRL, Gabriel Class Company SRL, Alpin Holz Transport SRL, Alexuzu Depotrust SRL, Ban Speed Construct SRL, WHD Trade General Export SRL, Marco Paul SRL, Dialum Pluv SRL, Ali Distritech SRL, Geonat&Geotom SRL, Mimar Cons SRL |
Class 2 | Damias AS SRL, Marini Trans SRL, Vadati SRL, Abs Decor SRL, Cepi Impex SRL, Fely Construct Forever SRL, Climagro SRL, Marini Trans Mixt SRL, Valmira Trade SRL, Mobil Tehno Com SRL, Transforest International SRL, Courtage Combo SRL, Augurprodcom SRL, Niro Stahl Impex SRL, Tavi Ciurchea SRL, Leucean Trading SRL, La Egostone Granite SRL | R&G Industries SRL, Damias AS SRL, Marini Trans SRL, Abs Decor SRL, Stilmax Prest SRL, Fely Construct Forever SRL, Climagro SRL, Marini Trans Mixt SRL, Valmira Trade SRL, Mobil Tehno Com SRL, Poieni Bai Forest SRL, Transforest International SRL, Courtage Combo SRL, Augurprodcom SRL, Niro Stahl Impex SRL, Tavi Ciurchea SRL, Leucean Trading SRL, Senlong Limited SRL, Granstone Land SRL |
Class 3 | Stilmax Prest SRL, Saramaris SRL, General Memento UM Import Export SRL, Luxus L&D Forest SRL, MA&GC Depocon SRL, Marmogrant SRL, Rafanda D&V Depo SRL, Gerard International SRL, Vicmar Invest SRL, Nigado Grup SRL, Stone 4 Sale SRL, Maria Multicons SRL | Vadati SRL, Saramaris SRL, General Memento UM Import Export SRL, Cepi Impex SRL, Luxus L&D Forest SRL, MA&GC Depocon SRL, Marmogrant SRL, Rafanda D&V Depo SRL, Gerard International SRL, Vicmar Invest SRL, Nigado Grup SRL, Stone 4 Sale SRL, Maria Multicons SRL, La Egostone Granite SRL, Stone International Logistic SRL, Efect Confort Mob SRL, Alin&Alicia Gardbet SRL, Bujoreanu Forest SRL |
Appendix D
Variable used in order to Assess Performance (2020) | ||
No. | Code | Economic Performance Indicators |
1 | V1 | ROA—Return on Assets |
2 | V2 | ROE1—Return on Equity |
3 | V3 | ROS—Return on Sales |
4 | V4 | LEV—Total Liabilities Ratio |
5 | V5 | ARR—Accounts Receivables Ratio |
6 | V6 | GMR—Gross Profit Margin |
7 | V7 | ROE2—Return on Expenditures |
8 | V8 | CAR—Current Assets Ratio |
9 | V9 | ASFR—Assets Self-Financing Ratio |
Proposed Variables in order to measure the impact on CE goals | ||
Environmental Performance Indicators (2022) | ||
10 | V10 | REW—Reduction in e-waste |
11 | V11 | RCF—Reduction in CO2 emissions |
12 | V12 | REC—Reduction in energy consumption |
Social Performance Indicators (2022) | ||
13 | V13 | AEP—Improved awareness on environmental protection issues |
14 | V14 | ICSR—Investments in corporate social responsibility programmes |
15 | V15 | IETE—Investments in employee training and education |
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No. | Code | Profitability Ratios | Formula |
---|---|---|---|
1 | V1 | ROA—Return on Assets | Gross profit/Total assets × 100 |
2 | V2 | ROE1—Return on Equity | Net profit/Shareholders’ Equity × 100 |
3 | V3 | ROS—Return on Sales | Net profit/Sales × 100 |
4 | V4 | LEV—Total Liabilities Ratio | Total Debts/Total Assets × 100 |
5 | V5 | ARR—Accounts Receivables Ratio | Trade Receivables/Total Assets × 100 |
6 | V6 | GMR—Gross Profit Margin | Gross profit/Turnover × 100 |
7 | V7 | ROE2—Return on Expenditures | Net profit/Expenditures × 100 |
8 | V8 | CAR—Current Assets Ratio | Inventory/Total Assets × 100 |
9 | V9 | ASFR—Assets Self-Financing Ratio | Equity/Total Assets × 100 |
Variable | Mean | Standard Deviation | Skewness | Kurtosis | Bimodality |
---|---|---|---|---|---|
V1 | 20.6288 | 26.0453 | 3.1544 | 12.2175 | 0.7087 |
V2 | 39.6450 | 41.4136 | 1.6465 | 2.8757 | 0.6075 |
V3 | 11.7702 | 12.6182 | 1.6964 | 2.1605 | 0.7190 |
V4 | 51.8826 | 28.1063 | −0.2455 | −0.9678 | 0.4861 |
V5 | 22.9386 | 24.0296 | 1.1621 | 0.4861 | 0.6321 |
V6 | 12.7567 | 12.9552 | 1.6477 | 1.9847 | 0.7120 |
V7 | 15.2690 | 22.1950 | 2.5863 | 6.5872 | 0.7830 |
V8 | 75.5629 | 24.2410 | −1.2664 | 1.2243 | 0.5842 |
V9 | 48.1174 | 28.1063 | 0.2455 | −0.9678 | 0.4681 |
Eigenvalue | Difference | Proportion | Cumulative | |
---|---|---|---|---|
1 | 2437.75 | 594.92 | 0.4091 | 0.4091 |
2 | 1842.82 | 1187.95 | 0.3093 | 0.7184 |
3 | 654.87 | 130.18 | 0.1099 | 0.8284 |
4 | 524.68 | 139.22 | 0.0881 | 0.9164 |
5 | 385.47 | 286.66 | 0.0647 | 0.9811 |
6 | 98.81 | 86.74 | 0.0166 | 0.9977 |
7 | 12.07 | 10.44 | 0.0020 | 0.9997 |
8 | 1.63 | 1.63 | 0.0003 | 100 |
9 | 0 | 0 | 100 |
Statistics | Class 1 | Class 2 | Class 3 |
---|---|---|---|
Wilks’ Lambda | 0.5465 | 0.6210 | 0.6593 |
Pillai’s Trace | 0.4535 | 0.3789 | 0.3407 |
Hottelling–Lawley Trace | 0.8299 | 0.6102 | 0.5168 |
Roy’s Greatest Root | 0.8299 | 0.6102 | 0.5168 |
Hottelling–Lawley Trace | 0.8299 | 0.6102 | 0.5168 |
V1 | V2 | V3 | V4 | V5 | V6 | V7 | V8 | V9 | |
---|---|---|---|---|---|---|---|---|---|
Class 1 | 36.14 | 102.64 | 8.05 | 90.38 | 26.08 | 9.52 | 29.84 | 90.68 | 9.62 |
Class 2 | 5.5 | 20.98 | 1.88 | 81.73 | 34.56 | 3.14 | 3.65 | 67.4 | 18.27 |
Class 3 | 12.56 | 20.7 | 0.78 | 44.01 | 12.89 | −15.15 | 31.4 | 76.71 | 55.99 |
V1 | V2 | V3 | V4 | V5 | V6 | V7 | V8 | V9 | |
---|---|---|---|---|---|---|---|---|---|
Class 1 | 36.14 | 102.64 | 8.05 | 90.38 | 26.08 | 9.52 | 29.84 | 90.68 | 9.62 |
Marini Trans SRL | 4.08 | 22.05 | 2.15 | 84.07 | 40.99 | 2.50 | 2.20 | 83.57 | 15.93 |
O1 | O2 | O3 | |
---|---|---|---|
Targeted Objectives | Decreasing inventories | Increasing sales | Optimizing resources consumption |
Selected Modules | Costumer Relationship Marketing | Social Marketing SMS Marketing Email Marketing | Marketing automation Accounting |
Dimension | Variables |
---|---|
Environmental Performance | Reduction in e-waste Reduction in CO2 emissions Reduction in energy consumption |
Economic Performance | Sales growth Profitability ratios Reduction in operational costs |
Social Performance | Improved awareness of environmental protection issues Improvements in investments in corporate social responsibility programs Improvements in investments in employee training and education Improvements in participation in environmental projects |
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Dura, C.C.; Iordache, A.M.M.; Ionescu, A.; Isac, C.; Breaz, T.O. Analyzing Performance in Wholesale Trade Romanian SMEs: Framing Circular Economy Business Scenarios. Sustainability 2022, 14, 5567. https://doi.org/10.3390/su14095567
Dura CC, Iordache AMM, Ionescu A, Isac C, Breaz TO. Analyzing Performance in Wholesale Trade Romanian SMEs: Framing Circular Economy Business Scenarios. Sustainability. 2022; 14(9):5567. https://doi.org/10.3390/su14095567
Chicago/Turabian StyleDura, Codruța Cornelia, Ana Maria Mihaela Iordache, Alexandru Ionescu, Claudia Isac, and Teodora Odett Breaz. 2022. "Analyzing Performance in Wholesale Trade Romanian SMEs: Framing Circular Economy Business Scenarios" Sustainability 14, no. 9: 5567. https://doi.org/10.3390/su14095567