A Sustainable Business Model in the Functioning of Enterprises as the Base for Creating Circular Economy

Abstract

Circular economy was the subject of interest for many researchers and is currently an inherent part of the sustainable growth concept. Shifting the economy to circular will require transformations in the field of competence, development, innovations, and organizational governance, as well as public awareness. Circular economy creates opportunities for achieving benefits in the economy (the efficiency of production processes, innovations, power safety) as well as in the social and environmental fields (shaping ecological safety). In the chapter, the authors describe such issues as theoretical foundations of the circular economy concept; European guidelines in the field of circular economy; problems and benefits associated with the implementation of circular economy, in light of compliance with sustainable development principles; business solution models together with the prospects for further sustainable development of a company, based on assumptions and models of circular economy.