New business models in the Circular Economy

Abstract

Circular Economy is becoming an important part of the trend on global business development. Companies and public organizations are facing new challenges and strive to integrate fresh concepts and instruments within their value chains. Strategic environmental goals are based upon reused resources and reintegrated materials, reduced carbon emissions, renewable energy, innovation, and overall optimization of models and processes. Governmental agencies are also preoccupied to enact specific regulations, to favor the economic and social integration of the circular economy. The advantages of the 6 R’s integration (recycle, reuse, reduce, repair, remanufacture, redesign) for businesses are straightforward, from cost optimizations, price volatility control, to increased automation and innovation. This paper is the first step of a more complex research endeavor, aiming to assess the feasibility of various fine tunings on specific business models that integrate circular economy principles. We have based our current assessment on six industries, with a major impact on the environment, and that can provide impacting solutions for environmental preservation. For each analyzed industry, a specific original diagram was provided, integrating the main industrial processes, outcomes, and reuse opportunities, derived from circularity principles. The literature review was intended to support each industry’s development pattern, highlighting different types of solutions for waste recycling, and business reorganization redesign.

Raising effective awareness for circular economy and sustainability concepts through students' involvement in a virtual enterprise

“…Data for Greece point to ∼142 kg of food waste per capita related to households, the largest in Europe, and 5,672.5 Gg of CO 2 eq emissions annually generated due to food waste (Abeliotis et al, 2015;UN, 2021). Furthermore, the case study suggests a circular business based on food waste management not previously investigated (Dragomir and Dutescu, 2022), while, in parallel, highlighting the critical role of education (Rezaei and Liu, 2017;Graaf, 2021a) and the employment perspective for the young people locally (Stahel, 2016).…”