NEW INNOVATIVE BUSINESS MODELS: CIRCULAR ECONOMY CASE
NEW INNOVATIVE BUSINESS MODELS: CIRCULAR ECONOMY CASE

Author(s): Valentinas Navickas, Akvilė Feiferytė
Subject(s): Social Sciences, Economy
Published by: Vysoká škola ekonomická v Praze
Keywords: business model; circular economy; waste recycling; competitiveness
Summary/Abstract: The concept of circular economy is receiving increasing attention worldwide as the way to reduce the demand for primary resources focus on urban and industrial waste to achieve a better balance between economic growth, environment and society. Circular economy prompts innovation for reuse, manufacturing and recycling activities. The importance of circular economy implementation is seen by many politics, scientists and manufacturers. Today’s business must adopt principles of circular economy in their business models to improve production, reduce pollution and stimulate continuously economic growth. The purpose of this paper is to present theoretical business model incorporating the concept of circular economy. A literature review and data analysis covering the issues how circular economy will affect business models and economic structure. Main contribution (the novelty) of this paper is our proposed circular economy business model for the economy and natural environment.

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