From Sustainable Global Value Chains to Circular Economy—Different Silos, Different Perspectives, but Many Opportunities to Build Bridges

Abstract

A growing interest in the circular economy concept has pushed the discourse in various management-related disciplines beyond established boundaries, with calls to better address how such a model may be developed in a world of global value chains. Still, the conventional linear economy model continues to dominate business, society, and research. While the concept of better connecting physical output and input flows at multiple production or consumption levels is becoming more accepted, it remains unclear how to make this happen while ensuring that sustainability targets are met or exceeded. Multiple scientific communities contribute different perspectives to this discourse, with promising opportunities for research. Circular economy and sustainability from business and economics perspectives are multifaceted. The existing body of knowledge needs to be advanced to assist private individuals, business managers, investors, or policymakers in making informed decisions. In this article for the inaugural issue, we provide a snapshot of the discourses among those who have studied the circular economy and its related topics. We outline conceptual inroads and potential research questions to encourage further circular economy and sustainability research and discourse from business or economics perspectives as well as from the broader transdisciplinary angle. We propose three research pathways: (1) connecting output with input needs in a global circular economy; (2) beyond today’s business logic for a global circular economy; and (3) inclusion of the Global South in North-dominated circular economies. For each, we propose concepts, theories, or methodological approaches and offer various perspectives from the micro, macro, and meso levels.

Sustainable Business Model Innovation: An Umbrella Review

“…This is in line with existing modelling efforts that show that emphasising social outcomes without considering the environmental impact of solutions will hinder the achievement of the UN SDGs by 2050 [83,84]. Similarly, focusing on the implementation of a circular economy without ensuring a just transition will have a negative effect on socially oriented SDGs [5]. Therefore, future research is needed to identify the conditions that foster the design and implementation of integrative sustainable business model innovation.…”

“…Future research will need to identify areas of integration between disciplinary silos. For example, international business and global value chain research are well positioned to widen the scope of investigation to the cross-border implementation of circular economy principles in global industries [5,85].…”

“…Although the importance of these technologies has been acknowledged in business and management studies, future researchers may wish to examine to what extent they are investigated in relation to sustainability. It is especially important to explore how advanced technologies can contribute to the transformation of global value chains [5,33]. • Full search of systematic literature reviews without restriction to specific journals or period:…”

“…Business models outline an organisation's value proposition, value creation and delivery and value capture logic [2,3]. However, developments in the global economy such as technological advances, economic downturns and the sustainable development agenda are shifting the focus of business models to those that are able to address contemporary challenges [4,5]. The concept of business model innovation introduces much-needed dynamism by emphasising the ability of organisations to design new or transform existing business models [6].…”

Sustainable Business Model Innovation: Review, Analysis and Impact on Society

“…Sustainability issues are on the rise and companies are pressured to respond [1]. Arguably, company response is a rather reactive approach and insufficient given the evidence regarding broken planetary boundaries and the immediate need for business transformation and alignment of the economic system with the planetary system [2]. For appropriately communicating social and environmental priority issues, and prompting discussions regarding natural resources and energy [3], the business model concept has become an increasingly useful tool [4,5].…”